Between 2019 to 2023, the global SaaS market is predicted to be worth $60.36 billion.
The emergence of AWS, app marketplaces, platform APIs and more, have made it easier to create SaaS solutions that power the business world. In this scenario, lead generation assumes a lot of significance. But it is also the most challenging aspect of any SaaS business.
SaaS lead generation is unique because you do not sell any physical product. Your audience can compare your product with its alternatives. Besides, the SaaS life cycle length is variable. Therefore, it can complicate the lead generation process.
So, creating an impactful SaaS lead generation strategy becomes essential for any business. First, your strategy must attract many people to the website. Then, it must capture their information and nurture them by offering a lead magnet until they are ready to buy. In a nutshell, SaaS lead generation introduces your service to prospects and converts them into paying customers.
But how can you generate quality and long-term leads? What are the measures that can ensure lead generation and retention? Let us dive straight into some proven, actionable SaaS lead generation techniques.
1. Maximize the Use of Chatbots For SaaS Lead Generation
If you are a startup, you often lack the bandwidth to deal with multiple complex requests simultaneously. It can be detrimental to customer experience and cause revenues to plummet.
Powered by AI algorithms, chatbots allow companies to connect with their prospects better. LiveChat Software is often used to replicate the in-store customer experience online. It includes features such as Customization and Personalization, Chat Reports, Analytics, and Encryption. ChatBot streamlines the entire customer support and sales process with pre-written solutions. As a result, it reduces response time, generates high-value leads, and results in 60% more revenue.
Companies such as Drift, Salesforce, and Segment, are employing chatbots to automate their customer service, scale up operations, and cause SaaS lead generation.
2. Reach Out to the Key Decision Makers for SaaS Lead Generation
Knowing the key decision-makers is the beginning of your sales process. The sooner you connect with the key decision-makers, the better. The Sole Decision Maker can be the CEO, president, or department head, depending on the company size and structure. They are responsible for the final purchasing decision. Touching base with a decision-maker is an art only a few salespeople ever master.
Get your sales team to prepare vital information such as – organizational hierarchy, its affiliates, history, stock value, employee numbers, and financial reports – of the company you are about to approach.
3. Write Quality Guest Blog Posts to Generate SaaS Leads
Guest posting quality articles thrice a week on platforms such as Hubspot can increase brand awareness of your SaaS. Incorporate call-to-action links within your high-value content to ramp up your blog post.
Having quality blogs on your website generates leads. Consistency is key in making your blog an effective SaaS lead generation tool. It offers a platform to establish your business as an authority. Share your expertise and provide customers the solution to the most pressing problems.
Ahref released an industry-wide survey to find that most SaaS companies use guest blogging to drive traffic to their websites. But how? How can you use guest blogging to generate leads for your SaaS?
- Choose the right website to post your guest blog,
- Opt for websites with high domain authority,
- Provide high-quality content that will benefit the website.
4. Bolster SaaS Lead Generation By Free Trials
A free trial is a fantastic tool. It accomplishes your goal of getting users to try your product/service for free. Offer your customers complete access to your product for a limited time in exchange for their contact information. It allows your visitors to test the full potential of your service, enabling them to make their decision.
Additionally, you can play a bit on the freemium model. It is a twist on the free trial. A free trial allows unhindered access to the system. In contrast, a freemium model offers limited access to the entire suite of tools. Getting the users to upgrade to a paid subscription is necessary to maximize the business value. Usually, some core functionality that delivers massive benefits isn’t included in a free plan. It, then, becomes an incentive for the users to upgrade to a paid subscription.
5. Use LiveChat on Important Website Pages
Live Chat is a SaaS lead generation tool that has been around for some time now. But it is only recently that marketers have started to uncover its true potential for generating leads and sales conversion. Unfortunately, LiveChat still has untapped potential. It has the power to boost your sales and help you understand your visitor’s behavior on your website.
With Live Chat, you can assist your customers instantly and save them from the hassle of going through long IVR menus before they can speak with a human. From a customer’s perspective, this alone can turn them into happy customers. From a business perspective, live chat is a step towards achieving your goal for 24/7 support.
6. Repurpose your Content For Lead Nurturing
Repurposing existing, responsive content makes it evergreen. If your content did well in SaaS lead generation earlier, you could capitalize it further by repurposing it. This is how Hubspot produces quality content for generating leads.
Hubspot converted its content piece into an episode of the ‘Grow Your Business with Rick Kranz’ podcast. As a result, about 400 people heard the episode. Next, Hubspot repurposed the same content again. They used the data accumulated from a case study to design an infographic. Finally, they remodeled the content into an eBook. They now use the eBook as a resource offered to continue generating leads from it.
7. SaaS Lead Generation by Establishing Trust Through Social Proof
Despite the different marketing strategies out there, nothing beats the traditional word-of-mouth. Testimonials on your website from your customers boost the power of digital word-of-mouth. It develops a level of trust and security among your target audience. Social proof encourages them to provide their lead information.
8. Leverage SaaS Review Sites to Expand Your Reach
It would be best if you did not undermine the power of your products’ presence on review sites such as Leedfeeder.
90% of consumers read online reviews prior to visiting a website or making a purchase. Likewise, 77% of B2B buyers conduct their research before talking to salespeople. Those referring to reviews were more satisfied with their purchases. It implies that you can show your product to buyers right when they are searching for a solution. Cloudapp went from zero to 275 reviews within 6 months and featured in G2’s top 100 software companies list.
Third-party SaaS and B2B review sites operate as review websites for consumers, such as Yelp. If you own a SaaS company, you should build your presence on software listing sites such as G2, Product Hunt, Capterra, TrustRadius, and more. These review sites build awareness about your product.
9. Collaborate with Non-Competing Vendors
It is prudent to partner with non-competing vendors. First, collaborate with vendors selling a complementary solution. Then, approach and explain to them how your collaborative solutions will make them much more valuable. Let them know that if they bring you in on deals, you will do the same. SalesIntel’s technographic data helps you identify technology platforms your target customers are using. It allows you to target complementary vendors you may be able to partner with.
10. Boost SaaS Lead Generation With Influencer Marketing
Influencer marketing provides enormous returns for businesses. Yet, when targeting influencers to generate leads, many SaaS startups target only those that belong to the software niche. But to build a powerful SaaS lead generation campaign, you must extend your outreach to those representing your ideal customers.
They are the closest to your buyer persona, and they are authorities that your customers listen to when it comes to recommendations on tools and strategies. In the case of Aegora, they created a SaaS lead generation strategy targeting entrepreneurs, subject matter experts, and consultants using influencer marketing. The campaign generated 500 new leads for the company, resultantly.
Influencers drive engagement and generate leads. They can also help to increase conversion rates. Given the large margins of most SaaS businesses, there’s an opportunity to see very impressive returns.
SaaS lead generation doesn’t have to be a struggle. There are different strategies that you can apply to your startup to get started with SaaS lead generation. These strategies can deliver results independently. But don’t hesitate to combine some of these strategies. Keep experimenting to explore the inbound lead generation strategy that works for you. By employing these proven SaaS lead generation strategies, companies can help their products stand out.