Retention, Referral, and Revenue: How to Create an Effective SaaS Marketing Plan
Marketing plans provide a framework to funnel customers from awareness to decision to purchase.
When it comes to software-as-a-service (SaaS) offerings, these plans must account for the recurring nature of SaaS solutions. There’s a special focus on retention and referral over purchase and loyalty.
Here’s what you need to know about SaaS marketing plans, what sets them apart from traditional frameworks, and how your company can create a plan that drives revenue.
Table of Contents
- What is a SaaS marketing plan?
- What Makes SaaS Marketing Different
- Why SaaS Marketing Plans Matter
- How to Create a SaaS Marketing Plan
- The Four Core Tenets of a SaaS Marketing Plan
- SaaS Marketing Plan Best Practices
What Makes SaaS Marketing Different
SaaS marketing is different because you’re selling an ongoing, subscription-based service. Unlike a traditional product with a single purchase point, customers pay for SaaS solutions monthly or yearly.
As a result, traditional and SaaS marketing have differing aims. A traditional marketing plan aims to convert prospects into buyers who purchase product(s) in a single transaction. If these customers are happy with the products, they may return for additional transactions.
SaaS marketing plans aim to turn interested parties into subscribers willing to sign on for month-to-month or yearly plans. You’ll want buyers to renew these plans when they come to term and refer other customers to your service.
Put simply, traditional plans focus on per-transaction revenue. SaaS plans prioritize revenue over time.
Why SaaS Marketing Plans Matter
These plans matter for several reasons.
First, a solid marketing plan helps create a clear picture of your target market. What are they looking for in SaaS solutions? How much are they willing to spend? What would keep them coming back?
Next is the improved utilization of time and resources. Plans offer a data-driven framework to help SaaS companies create campaigns that align with customer expectations.
In turn, businesses can streamline the process of engagement, active interest, and conversion. This means less time and money spent per customer. Budget can then be spent on improving SaaS offerings and retention over time.
Finally, marketing plans offer a blueprint for developing and maintaining customer relationships. From directly connecting with customers to creating customized offers, you’ll want to find ways to increase customer satisfaction. This increases the chances of SaaS renewal when terms are up.
1. Pinpoint your buyer personas.
The first step in creating a SaaS marketing plan is identifying buyer personas. These personas are idealized, hypothetical versions of customers that help you define marketing strategies.
For example, a buyer persona for your CRM SaaS tool might be an HR leader at a midsize enterprise. They may currently struggle with fragmented benefit and payroll processes across their organization.
By defining these key pain points and how your solution solves them, you can create marketing copy that speaks to your ideal audience.
2. Research the competition.
Source:: HubSpot Blog
