5 Tried and Tested product marketing strategies in 2019.
Automation has made life easy. A lot of business functions today, can be simplified and tasks can be managed more efficiently without spending much time and energy into it. Take for instance, how a CRM software or a social media automation tool has advanced the productivity levels of sales and marketing teams.
As businesses evolve, so do their dreams. To fulfill their aspirations, to achieve bigger targets, improve productivity, and accomplish their long-term goals, the saas industry has been a backbone for businesses with bigger aspirations. Saas in itself is a wonderful innovation engineered to simplify multiple business functions across industries.
75% of cloud workflows will be delivered as Software as a Service (SaaS).
Saas products are eating up the world. Day after day, every department in an organization, every industry needs a solution to manage their everyday workflows.
However, taking this to market, especially when there’s intense competition can be an overwhelming task. For SaaS products to make the cut, product marketing has a crucial role to play.
This post is for product marketers, I will be sharing some interesting tips that have been personally tried and tested.
5 Tried and Tested product marketing strategies.
- The Free Trial concept
Every SaaS model that launches in the market (at least most of it) adapts to the free trial model. This concept has clicked well in the market because offering a free trial for your products will help the potential prospect who’s considering your product to try for themselves and explore the product. They can use the product for the fixed trial period, and if they are really convinced with what you have got to offer there is a great possibility that they would convert to paid customers.
Now, when you sketch the free trial concept, you must be clear about the pricing plans, the modules or feature enablement for every plan, and whether or not if you’d be adopting a freemium model.
A freemium model is simple – you’d be offering a forever free plan with limited features wherein your customers need not pay a single dollar for the lifelong use of the product. This does not mean you’d be incurring a loss. The freemium model is a very strategic way of luring the customer to realize the potential features they can take advantage of if they were a paying customer.
A popular example of the free trial model from a growing SaaS company (Freshworks)
2. App Listing sites
Like how we would go to the play store or the app store before downloading an app on our mobile or tablets, the buyers of a saas product will refer to the app listing sites to gather the reviews from people who already use the product.
Based on the reviews and recommendations, they’ll be able to conclude whether your product is on the good side or the bad side. These app listing sites play a huge role in influencing a purchase decision.
In order to make the right use of it, it is not only enough if you list your products, but you must also make sure that your current users leave a review by prompting them to either through pop-ups on exiting the product or through other strategic tactics. Be sure that you do not force them into writing a review, just give them friendly reminders and be candid while you ask for a review. Being too pushy would defeat the very purpose of asking for genuine feedback.
A popular example of the app listing website for saas products (G2 Crowd)
3. Content Marketing
Content marketing is the most effective method of all time that would work irrespective of the type of online business. The only way to build a huge community and trust is through content assets. Educating and entertaining the audience will not only build your brand organically but also bring you a lot of targeted traffic and leads.
You can always keep spending your ad budgets to bring in leads, but the only way to organically do that for over a continued period of time is through a credible content repository. People, even today, value content. They still believe in the power of content and are willing to hear your stories.
The only way to apply your strategies for content marketing and believing that it would work is to first create credible content. Be educative and helpful to your audience.
DIstribute content through email campaigns, community forums, social media, guest blogging, optimization for search ranking, etc.
Here’s an example of Hubspot who’ve built a humungous list of subscribers who believe they’re their one-stop for all their sales and marketing questions. Imagine how easy it would be for them to sell their product after sweating for years in the building the trust through content and continuing to do so.
Getting a visitor to a website ties back to a ton of efforts. Every visitor you get, that bounces off is a potential prospect earned. More often than not, many saas startups fail to use this technique.
If you visit an eCommerce site and exit without purchasing the product you browsed, you’d immediately and time and again get pop-ups on other websites you visit. You may probably see discounted prices for the product, There is a great chance you may win back through retargeting.
Leveraging this technique in every online business – saas market included will help you get more leads and conversions. Regardless of your conversion metric be it an ebook download or visiting the product sign up page, monitor the website visitors regularly to plan strategic campaigns around it.
An example from Designhill through an excellent retargeting strategy to get me back to complete my logo design.
5. Customer and product experience
The most significant part of product marketing is to make the product experience seamless and as engaging as possible. Be it through drip emails or the in-app messaging – right from the moment a user signs up a product marketer should ensure there is a great user experience throughout.
You can amp up the user experience by creating a ton of marketing collaterals like user guides to help the user warm up with the product and following up with them through emails asking for further help. You can also remind them about the features they haven’t explored and very contextually share marketing materials.
An example of how to engage customers and elevate user experience.
Product marketing contributes to half of the success of a product. If you really want your product to penetrate the market then you may have to be very consistent with your product marketing efforts. Hope this post has helped you get ideas on things, to begin with. Do leave a comment below if you have some other tips.