Creating a B2B SaaS Marketing plan can seem like a daunting task. Unlike other companies that sell physical goods to people, it may seem difficult to convince your buyers, especially when they don’t recognize the need for your products in a SaaS. You can more easily convince a consumer to buy a pair of shoes than to adopt your newly-designed software into their workflows.
However, having this problem doesn’t mean that you cannot build effective digital marketing strategies for your SaaS companies. With some vital steps put in place, you can connect your innovative ideas to some digital marketing strategies and achieve your objectives. This article will enlighten you on how to create an efficient B2B SaaS marketing plan and connect with your potential customers.
B2B SaaS Marketing Plan
Every company requires a marketing plan to sell its products or services and that doesn’t exclude software companies. A SaaS marketing plan gives you an insight into what is the best approach to take when promoting your SaaS products. Crafting and utilizing a blueprint that propels your ideas or thoughts into reality is essential. Having a marketing blueprint will help your SaaS company to put together every single detail until a larger picture emerges. Here are some little aspects to add to your marketing plan strategy to make it effective.
Identify Your SaaS Marketing Goals
Every SaaS marketing plan remains unachievable unless you set up identifiable goals. Just like every business, these goals are crucial to your plan as these will set you on the right track and will help you to figure out the pieces that work effectively.
To determine your goals, you must answer the following questions:
- Do I want to increase brand awareness?
- Do I want to generate more potential leads?
- Or do I want to increase the conversion rate?
Determining your goals is the first step in every SaaS marketing plan blueprint. After you have identified your goals, it is also essential to put some target numbers on them. This will give your marketing team a keen insight into the strategies that need to be put in place and understand your achievements. It is a bit vague to say you just want to increase conversion. Setting up a target number will allow you to determine whether or not you have accomplished your goal.
Do you want a 30% or 40% boost in conversions? Or maybe, you want to increase your website traffic by 50%? Setting a numerical objective helps you to track your progress while also determining the efficiency of certain marketing methods. As a SaaS company, you must assign a numerical value to each stated objective to gain insight into the next goal to achieve.
Establish Your SaaS Marketing Budget
Now that you have determined your specific goals, the next step is to figure out how much money you’ll need to attain them. Although a typical marketing budget ranges from 10% to 40%of recurring revenue, a SaaS company’s budget frequently exceeds that range. Many successful SaaS companies devote about 80 to 120 percent of their income to sales and marketing. This may look like a lot to invest in. However, the investment is worthwhile when the returns are fully considered.
When planning your budget, there are a few things to keep in mind:
- First, you may figure out how much each marketing plan will cost and how much return you’ll make from it.
- The next step is to decide which plan you want to execute first, and then assess how much it will cost.
- Finally, you may evaluate the strategies that will incur the ultimate expenditures and how to implement those to minimize spending on unforeseen circumstances.
Developing Your SaaS Marketing Strategy
After you have set up your goals and crafted your budget, you can now advance to the next stage, marketing strategies. Understanding who your product or services are designed for is a must before you set up any SaaS marketing plan blueprint. This includes identifying your target audience, their demographics, and their benefits to them, and crafting suitable content for their preferences. For many SaaS companies, inbound marketing is more valuable to the audience.
It allows companies to develop contents that can reach their potential customers, meet their requirements, answer their questions, and serve their purpose. Besides, it consists of some marketing strategies that are cost-effective and meet the size of your budget.
For instance, contents such as blog posts are cost-effective for your marketing blueprint and drive the results you intend to get. Other marketing strategies that are efficient and help to achieve your goals include ebooks, PDF files, infographics, email marketing, social media marketing, video marketing, and more. The key to deriving these strategies’ maximum returns is staying consistent and publishing relevant content.
Analyze Your SaaS Marketing Metrics
Your metrics are crucial to your marketing plan. It shows how successful your marketing strategies are. How many products were purchased? Were they satisfied with those products? Did they give a review that can convert future customers? All these are what metrics indicate in your marketing plan.
Marketing metrics evaluate the effectiveness of your strategies. Without it, it is impossible to determine whether your marketing plans are a success or a failure.
SaaS companies can track and analyze two essential metrics to determine their marketing strategies’ performances. These metrics include the Marketing Qualified Lead (MQL) velocity and the opportunities sourced by marketing. The MQL velocity provides you with forward-looking insights that help you to forecast future business growth including sales. Meanwhile, the opportunities sourced by marketing show you the strategies that are working and give you keen insight into your company’s potential sales.
With the points made so far, it is pretty obvious that a SaaS marketing plan requires some creative approach, time, and effort to make the entire blueprint successful. However, the above-mentioned points give you better insights into what to do and propel your company to achieve a successful marketing plan.