Lead generation is essential for the growth and success of a SaaS company. In order to get more leads and find new opportunities, it’s smart to invest in multi-channel marketing.
But why multi-channel marketing?
The truth is that focusing on just one channel can rob your business of millions of prospects available on other platforms—but using multiple channels broadens your approach, better setting you up for success.
Can Multi-Channel Marketing Improve Your SaaS Business?
Yes, and other companies are already implementing it. There are many factors to consider when you want to market your SaaS efficiently. However, the SaaS industry is vibrant and extremely competitive. In that kind of market, lead acquisition is vital. This makes pursuing multiple channels of lead acquisition a robust marketing strategy.
Below are some ways in which successful SaaS companies are developing and fortifying their multi-channel marketing strategies:
1. Performance Tracking
Tracking performance of your campaigns can be intimidating as it adds more layers of complexity to your marketing strategy. However, tracking metrics are vital to any SaaS business.
One of the reasons some marketers ignore analytics is that they are confident about their marketing campaigns, enough to know what works and what doesn’t. This is not necessarily a mistake. However, it’s a considerable disadvantage. Key Performance Indicators (KPIs) such as Customer Acquisition Cost (CAC) are vital in gauging how your business is performing.
Use a reliable tool that supports multi-channel funnels, such as Google Analytics, to help you track and refine your funnels.
2. Content Marketing
There is a reason why content is king.
Content has always worked and will continue working as it caters to the demand for knowledge before commitment. While content marketing has become a necessary aspect of most successful digital marketing campaigns, many SaaS businesses still resort to half-hearted attempts without much of a meaningful strategy.
You can tailor your content to serve the needs of audiences that hang out on different channels. When prospects land on your site, they not only want to know more about what you are offering but also how it can help them. Communicate the benefits of your product to the prospects.
You can use content to provide value to leads that are in various stages of conversion. You can start by offering basic information before going in-depth, closer to the sales action.
Finally, make your content available on all of your marketing channels.
3. Using Events to Retain Clients
More SaaS companies are coming up with their own events. For example, Totango’s product is focused on putting customers first, so they created a customer success summit. The events provide a platform for engaging with customers and building stronger bonds. Customers and prospects get to interact one-on-one with various SaaS experts and gain the knowledge they probably would not have gotten any other way. Events help to increase retention rates and also reinforce a company’s brand image.
4. Nurturing Prospects
There was a time when lead nurturing was simply an email drip campaign of generic emails to a list of leads. This used to work before, but digital marketing has evolved. Today, customers want more than an automated promotional email.
According to a survey by Bizo, four out of five digital marketers confirm that their email-opening rates never exceed 20 percent. This and the fact that a considerable percentage of leads never convert in the first place shows how the majority of SaaS businesses are failing in marketing.
Top SaaS companies understand the value of effective lead nurturing. This is why these firms implement multi-channel lead nurturing as part of their marketing strategy.
A multi-channel lead nurturing strategy involves developing a relationship with prospects at every stage of their sales journey. The relationship is built through a combination of marketing channels like social media, email, pay per click, retargeting, etc.
Multi-channel lead nurturing comprises of multiple strategies. However, what works for one business may not work for another. Therefore, you should test different strategies to see which one works for your firm.
5. Improve Support Through Multiple Channels
Customer support is a significant part of the SaaS business model since the industry depends on recurring revenue. For SaaS companies, acquiring a few leads is not as scary as frequent customer churning.
To make your firm reliable and trustworthy, offer support through multiple channels to easily address the concerns of your users and prospects.
The use of support as an indirect marketing strategy is quite underrated. However, it has proven effective for many businesses. The more you build trust and improve your reputation, the more likely it is that prospects, searching online for the products or services you offer, will want to do business with you.
Using multiple marketing channels is a strategic way of reaching more prospects interested in your business. Successful SaaS businesses use the above tips to get results from their multi-channel marketing campaigns.