With the evolution of the SaaS industry, the tactics to draw attention to these products have also changed drastically. Up until a few years ago, marketing was about getting traffic to your website, or in the case of SaaS products – getting free trial or freemium signups.
But not anymore.
At present SaaS companies are more focussed on attracting the right audience and pushing your target persona to sign up for your SaaS product as people who need your SaaS are more likely to convert.
In fact, the right B2B marketing strategies can 3X your overall revenue growth expectancy. So how do you know if you need to invest more in Marketing? Here are 8 signs you need to keep an eye on to understand that it’s time to invest in B2B marketing strategies:
- You aren’t attracting a big enough audience
- Your competitors are outranking you
- You’re not ranking for your target keywords
- You are not attracting the right audience
- You don’t have a clear digital marketing strategy
- Your social media is inactive
- Your website isn’t mobile friendly
- Your conversion rate is less than the market average
Let’s deep dive into each of the aforementioned signs that point out the need for investment in B2B marketing strategies!
Sign #1: You aren’t attracting a big enough audience
For the SaaS marketer, the main agenda of their marketing plans is to get people on their website, as what’s the use of all the content and information you’re putting out there if it isn’t getting any traction, right?
This will have a 2 way impact, not only will your content be ignored but you will also not get the statistics you need to start making incremental improvement.
Sign #2: Your competitors are outranking you
The digital world gives every product and every website an equal opportunity, provided they know the right way to leverage it.
If your website is continually lagging behind your competitors, you need to revisit your overall marketing strategy. A proper B2B marketing strategy will help you compete even with the big industry names.
Sign #3: You’re not ranking for your target keywords
For B2B SaaS companies, ranking for the target keywords is very important and since the market is fiercely competitive you need to ensure that your SaaS is at the top of the search results. For this, running ads isn’t enough. You need to invest in SEO (a key digital marketing strategy) to help you reach the coveted spot.
This can be accomplished by targeting the right keywords, getting backlinks from high-authority websites, keeping your website updated and ensuring that you’ve a proper content plan in place. You need to produce fresh content to influence search engine rankings – content pieces that satisfy both quality and quantity standards.
Sign #4: You are not attracting the right audience
The primary goal of every business is to increase revenue and for this to attract more and more people isn’t enough. You need to attract the right audience, one that is more likely to convert.
You need to attract people who are already looking for the solution you provide, people whose pain point is solved with your SaaS.
Sign #5: You don’t have a clear digital marketing strategy
When it comes to building a high-yielding digital marketing strategy for B2B SaaS you need to understand (if not ace) all its aspects such as Content creation, content marketing, SEO, email marketing, social media and web design.
If you’re not getting enough out of your implemented strategies, maybe it’s time to re-evaluate them, invest some time in research and build a winning plan to support your business goals.
Sign #6: Inactive social media
Hearing crickets when you post anything on social media? Well, social media is supposed to boost engagements, it is, afterall, one of the major digital marketing strategies.
A good social media presence can drive traffic to your website and as its use has gained worldwide popularity, B2B companies can no longer ignore it. Every click, like, retweet, comment or share should ideally increase your visibility with users’ network as well as elicit engagement. And if you’re not seeing the expected results then maybe it’s time to revamp your strategies.
Sign #7: Your website isn’t mobile friendly
Your website is probably the first thing your target audience will notice and with > 50% of users using mobile phones to access a website, a mobile optimized website is crucial for businesses. Visitors are often attracted to websites that’s appealing to the eye and if your website has the same outdated look it had 5 years ago, then it might be the time for a redesign according to the current digital marketing needs.
Sign #8: Your conversion rate is less than the market average
Getting a lot of web clicks or an increased click through rate is just the beginning – these are good signs that your target audience is engaging with your website/product, but it definitely isn’t enough. According to industry standards, an average B2B conversion rate for SaaS companies is anywhere between 2-5%, and if your SaaS doesn’t satisfy the category that’s a red flag for you.
For this, you need to keep a tab on the web clicks, the outbound email response rate, social media activity, etc., any platform that you’re utilizing to spread the word about your SaaS. You need to have a marketing strategy dictating the buyer persona, their pain points, and ways to reach your target audience.
It’s time B2B companies moved on from the traditional marketing strategies or tricks that worked well for only B2C companies.
B2B SaaS companies need to revisit their digital marketing strategies and boost their marketing efforts to keep up with the fiercely competitive market and get their brand the recognition it deserves.