What are Some Growth Hacks for B2B Saas Companies? [Strategies for Growing Faster and Smarter]
Common growth hacks that B2B SaaS companies can use
1. Email Marketing
Email marketing can be a powerful tool for B2B SaaS companies.
When done strategically, it can help nurture leads and grow the customer base. By building a strong email list with intriguing subject lines and personalization, businesses can effectively engage with potential customers and convince them to buy from them.
For example, AppSumo, a successful SaaS startup, has built a massive email list of 700,000 contacts. With such a large email list, the chances of gaining more customers and expanding the reach of the business increase significantly.
To build an email list, businesses should offer free stuff and make use of popups strategically to draw attention. Landing pages should also be optimized to maximize the signup rate.
Additionally, personalized emails are the best way to engage with influencers. By introducing themselves, explaining why and how they are emailing, and demonstrating knowledge of the influencer, businesses can increase the click-through rate of their emails.
In conclusion, email marketing is a timeless marketing technique for B2B SaaS companies that can help them nurture leads, increase their customer base, and reach out to influencers. With the right strategies in place, businesses can leverage email marketing to reach their goals and grow their business.
2. Influencer Marketing
Influencer marketing is a powerful tool for B2B SaaS companies, as it allows them to reach a larger audience and gain the trust from potential customers.
By partnering with influencers in their space, companies can spread the word about their product, build trust and increase sales. Furthermore, employing video testimonials with influencers can act as a micro-influencer with a built-in audience, and increase sales by up to 64 percent.
Additionally, incentivizing influencers to spread the word about a product through free use or branded gifts is an effective way to gain exposure.
Finally, word-of-mouth marketing is still one of the most powerful tools for SaaS companies, as it allows them to achieve accelerated growth rapidly. Overall, influencer marketing is an invaluable tool for B2B SaaS companies that can help them gain exposure, build trust and increase sales.
3. Social Media Marketing
Social media marketing is a form of digital marketing that involves the creation and sharing of content on social media platforms in order to reach and engage an audience.
It is a powerful and cost-effective way for B2B SaaS companies to increase brand awareness, build relationships with potential customers and generate leads.
By creating content that resonates with their target audience, B2B SaaS companies can use social media to create a strong presence and engage their prospects and customers. This can include picking their target buyer personas, interacting with followers, forming a community, running paid social media ads, and creating high-quality content.
For B2B SaaS companies, social media can be a great platform to reach their target buyers. It is important to note that different buyers spend their time on different social media platforms, such as Facebook and Instagram for B2C customers and LinkedIn for company executives and decision-makers.
Creating a community on social media can also be an effective way for B2B SaaS companies to foster brand loyalty and encourage customers to become advocates and bring in more customers. Inviting friends to your page, starting a Facebook group, joining relevant Facebook communities, using retargeting, and creating lookalike audiences can help to increase your reach and drive more conversions.
In addition, B2B SaaS companies can run ads through social media platforms to reach their target buyers more effectively. However, it is important to remember to craft ads based on their buyer personas and specifically target them. Finally, content marketing is a highly effective and economical growth hack for B2B SaaS companies, as it can generate three times more leads than paid advertising.
4. SEO Strategies
B2B SaaS companies can leverage a variety of SEO strategies to improve their visibility on the web.
Some of these strategies include
|1.||Running a quick website SEO audit|
|2.||Finding long tail keywords with low SEO difficulty|
|3.||Creating a “best XY software” landing page|
|4.||Pitching products to blogs or other top-ranked websites|
|5.||Utilizing the skyscraper method|
|6.||Donating for links|
|7.||Purchasing posts on websites such as Forbes or Inc.com|
|8.||Submitting a Wikipedia article profile|
|9.||Creating a niche-related glossary|
|10.||Engaging in broken link building|
|11.||Registering a Google My Business profile|
|12.||Creating an XML sitemap, managing 404s and 301s|
|13.||Optimizing blog posts with keywords|
By utilizing these strategies, B2B SaaS companies can increase their rankings in search engine results and reach more of their target audience.
5. Content Marketing
Content marketing is a key growth hack for B2B SaaS companies.
It’s a low-cost, highly effective way of building brand awareness, driving organic traffic, and increasing conversions. With proper optimization for SEO, content marketing can bring organic traffic to a SaaS business, raise awareness of its services/products, and channel inquiries toward its sales force. In addition, high-quality content drives three times more traffic than paid ads, making it an extremely economical growth hack.
Content marketing is an excellent tool for B2B SaaS companies because it helps them to educate their customers on business processes and current SaaS trends, improving their trust in the brand and making them more likely to use the SaaS solution.
Content marketing strategies should focus on creating valuable content pieces that are useful to the customers, such as blog posts, infographics, and videos. Furthermore, businesses can also recycle pre-published content by polishing it with more recent information, infographics, and images.
Content marketing is a great way for B2B SaaS companies to stand out from the competition, as well as to increase their organic traffic and generate more leads. Companies like HubSpot and Buffer have successfully incorporated content marketing into their growth-hacking strategies.
By using the right keywords for SEO, content marketing strategies can help to guide customers through each stage of the buyer’s journey, ultimately improving conversions. For these reasons, content marketing is an essential part of any successful B2B SaaS growth hacking strategy.
6. Word-of-mouth Marketing
Word-of-mouth marketing is an age-old but highly effective way for B2B SaaS companies to accelerate their growth. It has the triple advantage of helping to acquire customers, retain existing customers, and monetize the product.
To fully utilize the benefits of word-of-mouth marketing, companies should create exclusive incentives for referrals, offer a two-way referral system, provide pre-packaged invitations that are easy to share, and set up customer referral bonus programs.
Studies have shown that people are four times more likely to make a purchase when a friend makes a referral, and 92% of consumers trust recommendations from friends and family more than other forms of advertising. By incentivizing the referral process, companies can encourage users to share their positive experiences with others.
For example, Outlook and Dropbox offer extra features or storage space to those who refer to their product.
Referral marketing also has the potential to convert leads 30% better, increase retention rates by 37%, and bring in four times more referrals than non-referral customers. Furthermore, companies can leverage the power of video to create testimonials featuring satisfied customers, which can increase sales by 64%.
In conclusion, word-of-mouth marketing is a powerful tool for B2B SaaS companies to drive sales and grow their business. By setting up a referral program and incentivizing users to promote their products, companies can make the most of this strategy.
7. Customer Reviews
Customer reviews can help B2B SaaS companies in many ways. About 95% of customers read reviews before making a purchase, and 92% of B2B buyers are more likely to purchase after reading a trusted review.
When a product gets five reviews, the likelihood of purchase increases by 270% and every 1-star increase in a Yelp rating leads to a 5-9% increase in revenue.
Furthermore, 84 percent of people trust online reviews, and having good reviews can quickly generate more organic traffic toward a company and its software. Q&A platforms, such as Quora, can also help in creating awareness about a brand and resolving customers’ doubts.
Lastly, customer reviews can provide valuable feedback, which can help SaaS companies in refining their strategies and improve their customer experience in order to achieve successful sales.
8. Mini-Conversion Campaigns
Mini-conversion campaigns are marketing strategies that are geared towards achieving small to medium-sized goals leading up to a larger goal. In the B2B SaaS space, these mini-conversion campaigns are used to drive leads toward a macro conversion. The goal is to build trust and engagement with the user before they are ready to commit to the macro conversion.
For example, instead of asking a user to sign up for a free trial, the B2B SaaS company could offer a free guide or ebook for the user to download. This helps to build trust and gradually moves the user toward the ultimate goal.
To maximize the chances of achieving the macro conversion, B2B SaaS companies should create multiple targeted landing pages which are tailored to the user’s needs, buyer personas, sales funnel stages and prior engagement with the brand.
Additionally, AI-driven tools can be used to capture highly-relevant audiences, enrich campaigns with buyer intent data, and craft engaging and high-converting creatives. Live chat software can be used to initiate conversations with visitors, and cold outreach strategies such as email campaigns and user persona segmentation can be employed to reach potential new leads.
Finally, technology stack analysis tools such as BuiltWith and Similar Tech can be used to gain insights into what type of companies are using the competitor’s product. Mini-conversion campaigns are an invaluable tool in the B2B SaaS space and can be used to drive leads toward a macro conversion, build trust with users, and stay ahead of the competition.
9. App Referrals
App referrals can be a powerful tool for B2B SaaS companies looking to increase user acquisition and grow their business. By reducing the friction in the referral process and making it easy for users to refer their colleagues and peers, businesses can increase their viral coefficient and drive exponential growth.
Incentivizing referrals is an effective way to encourage users to spread the word. Companies can offer rewards or discounts to users who refer their service or product to others, creating an additional incentive to share. These rewards may be in the form of free credits, plan upgrades, feature unlocks, or additional free storage.
Furthermore, referrals tend to generate much higher customer lifetime value and have higher conversion rates than other forms of advertisement or sales pitches. People are more likely to trust a recommendation from a friend than a sales pitch, so referrals are a low-cost marketing technique that can have a significant impact on a company’s growth.
By implementing a successful referral program, B2B SaaS companies can reap the rewards of increased user acquisition, higher customer lifetime value, and higher conversion rates.
10. Inbound Marketing
Inbound marketing is a type of marketing approach that focuses on creating relationships with potential customers through content creation and engagement. It is an effective growth hack tool that can be used by B2B SaaS companies to drive more traffic to their website and generate more leads.
Inbound marketing works by creating content that is valuable and relevant to potential customers in order to attract them to your SaaS business. This content includes blog posts, infographics, videos, ebooks, and more that provide customers with helpful information and tips. This content should be focused on educating the customer in order to build trust in your product and brand.
Additionally, guest posting and other outbound marketing tactics can be used to reach a broader audience and build relationships with other companies. Content marketing is also an important element of inbound marketing as it allows you to create high-quality content that is useful to your customers and positions your business as a helpful and knowledgeable ally. Through proper optimization and content recycling, inbound marketing can be used to reach more customers and increase traffic and leads for your B2B SaaS business.