With the entry barrier to starting a SaaS company at an all-time low, startups are finding it increasingly difficult to plan and implement a successful SaaS marketing strategy.
Being in a crowded space surrounded by a growing number of competitors makes it hard to compete – especially if that competition is between bootstrapped and funded businesses.
So what does that mean for your startup when it comes to creating a successful SaaS marketing strategy? How can you stay in the race with the competitors and larger companies in your space? How do you ensure your marketing gets traction for your startup?
In this article, we’ll take a look at some of the tactics that can help you grow sustainably – without blowing your budget.
The current state of SaaS marketing
It feels like everybody is starting a SaaS business these days. All you need is an idea and the ability to bring it to life. It’s a golden age of business where it seems easy to scale to $1M ARR (annual run rate) or get acquired by an industry giant.
While it’s simple enough to get started, creating a successful SaaS marketing strategy and growing a business in this highly competitive landscape is becoming more of a challenge, because:
The cost of paid advertising is skyrocketing
Consumer needs are changing rapidly
Customers are demanding more for less
People can shop around multiple competitors to get the best deal
Customers demand that service and support be available instantly and 24/7
Before you throw your hands up in despair, this explosion in SaaS startup numbers also has a huge upside for your business.
People are now very accustomed to the subscription-based business model, and are happy to pay for software that makes their lives easier or better. As consumers, we don’t really think twice about handing over our credit cards to sign up for services online anymore – as long as the company appears genuine, trustworthy, and provides a service we either need or want.
Building a trusted, engaging, and likable brand around your startup is one of the key tactics you can use to make your SaaS marketing strategy successful. This is becoming especially important in the B2B space.
While it’s true that creating an effective SaaS marketing strategy for your startup has become increasingly more difficult in recent years, due to increased competition, there are some common elements every successful SaaS marketing strategy prioritizes as areas of focus to achieve growth.
Priorities of a successful SaaS marketing strategy
You’ve built an awesome product and established your positioning. But how do you go about finding customers at a low enough cost to grow at a healthy rate?
Advertising is getting expensive. For many startups, paid advertising isn’t even viable as part of their marketing strategy.