8 Best Practices to Generate Leads for Your SaaS Business
October 3, 2022
SaaS companies thrive and survive on lead generation, which unsurprisingly, also happens to be their biggest challenge. There are many ways SaaS companies can generate leads. How do you decide which one fits the bill for you? This collateral will give you 8 best Practices to generate leads that you can follow to generate leads.
Generating leads is difficult for SaaS firms. SaaS companies normally spend 30-50% of their revenue on marketing, which includes lead generation and customer acquisition. This works out to more than what some other industries spend on the same task.
In order to generate leads and win customers, SaaS marketers need to follow certain best practices. Whether they deploy SEO, write content or follow any other strategy, SaaS lead generation has immense potential.
What makes SaaS marketing interesting and exciting is that it’s always data-driven. This means marketers will make fewer mistakes while targeting customers. But there’s a downside too – competitors are close on the heels, keeping tabs on whatever you do and trying to outsmart you in lead generation. It’s a cut-throat industry out there.
As an example, you can look at the shift happening in selecting quality leads over mere quantity because quality leads lead to business and also reduces any imbalance. This has become a standard practice among SaaS companies.
Here are a few global SaaS best practices that can help you generate leads and close more deals.
1. Know the whereabouts of your customers
In order to generate leads, you need to be in close connection with customers. This could be via online forums, targeted advertisements, through blogs and other content. You need to find out where your customers are and follow them actively. Remember, this is a time-consuming process. The leads you want will not come overnight. You also need to be active on social media and regularly write and contribute on platforms where your customers spend most of their time to establish thought leadership. One way you can get people to follow you is by having your CEO/company leadership write in leading newspapers or weeklies, news magazines or industry publications, or appear on business news on TV.
2. Automate omnichannel lead generation
An omnichannel presence is not just for better customer experience but also helps in lead generation. Many businesses struggle to create a reliable experience across platforms because they don’t have access to tools that can automate their experiences, such as call tracking, custom landing pages, instant emailing, and even CRM systems.
In order to successfully generate a lead for your SaaS business, you can follow omnichannel experiences like customer engagement and personalization. Customer engagement includes engaging potential leads through social media, contests, and sending customized emails. Personalization means identifying returning leads and personalizing their experience across all engagement platforms.
3. Invest your efforts in developing qualified leads
As mentioned earlier, SaaS marketing costs a lot of money and that’s one reason why you must focus on identifying qualified leads, as they already have an initial interest in your product or service and will purchase from you, sooner or later. However, you must remember that it takes time and a lot to follow ups.
4. Use tools for getting details on closed-looped reporting
You need to use the right tech tools to identify and prioritize the right leads. Any technology you use must be close-looped so that you get the most accurate results.
5. Use content to generate leads
Content sells and we know that well. If you want customers to come to you, you need to put out consistent and high-quality content and provide content marketing, day after day, week after week. This content could be anything- blogs, articles, podcasts, ebooks, whitepapers, customer interviews, market and industry insight, infographics, leadership interviews, videos, pictures or a combination of all of these. There’s a significant information gap in the SaaS industry and one of the best ways to attract and retain leads is through quality content.
6. Never give-up on leads that have come through trial signups
If you are offering your SaaS product on a trial basis, make sure to follow up with those who signed on. Well, it may happen that they don’t sign-up for the full service after the expiry of the trial period. But even then, don’t give up on them. Send them a tailored message informing them about the benefits of onboarding. Inform them about how good your product is and send them emails reminding them to sign up. But also remember not to go overboard – too many email reminders can also send out a wrong message.
7. Integrate your product or service with others is the practices to generate leads
One of the fastest ways to generate new SaaS leads is to offer products or services that can easily be integrated with others.
Almost all SaaS companies offer additional products along with their main products, so doing this should be easy. Ask your customers for feedback on what additional features they’d like as add-ons along with the product they are buying.
If you offer only one product, then you must look out for additional products available in the market that you can integrate your product with.
This will improve your reputation among your customers, as it will allow you to stand out as mature, professional, and dependable.
8. Measure lead generation performance
As mentioned above, there are several ways to generate leads and it’s important to know which one works for you. You might be using a pay per click campaign, content writing, social media, or even simply cold calling. Invest on the strategy that works best for you. There are several tools that you can use to know which lead generation method is working for you. Use tools like SEO tools, email marketing solutions, lead management software, and call analytics software to check where to invest your money.
These lead generation methods should become a recurring activity in your SaaS marketing funnel. Experiment, mix, and match, blend all the strategies, and track the performance of what is helping you pull quality leads for your SaaS business so that you can focus on that method more. Remember, lead nurturing starts right from the time when your customer signs up with you.