3 Essential SaaS Growth Strategies for Business Expansion in 2023
Denis Shatalin
Founder of SaaS Camp
With significant innovations in cloud computing, it's no wonder the global Sofware as a Service (SaaS) market size has seen remarkable exponential growth. This market size was priced at around €113.8 billion (USD 113.8 billion) in 2020 and is expected to grow to €716.5 billion (USD 716.5 billion) by 2028.
With this vast market, competition is high. Many applications offer organizations different solutions: conferencing, salesforce automation, web content management, and customer relationship management (CRM), to name a few. If you want to expand your business, your SaaS business must take the necessary steps to boost its online presence. This article will tackle the three essential SaaS growth strategies that can help your business grow.
With this vast market, competition is high. Many applications offer organizations different solutions: conferencing, salesforce automation, web content management, and customer relationship management (CRM), to name a few. If you want to expand your business, your SaaS business must take the necessary steps to boost its online presence. This article will tackle the three essential SaaS growth strategies that can help your business grow.
Establish website SEO
Your business must find ways to drive your software to potential customers in a crowded SaaS market. Many companies increasingly rely on search engine optimisation (SEO) strategies to increase organic traffic on their website and generate leads that may become loyal customers. Optimising your content can set you apart from the competition and enable your website to rank on the first page of search engine results.
SaaS is meant to solve a customer's problems, so you can start improving your SEO by focusing on your product descriptions and core features. Keyword research can help you narrow down phrases and words that best describe your business, enabling you to better reach specific audiences interested in your software. Aside from optimisinglocal content, you can hire experts who can make the most of SEO practices, such as building resources and backlinks through guest posts.
SaaS is meant to solve a customer's problems, so you can start improving your SEO by focusing on your product descriptions and core features. Keyword research can help you narrow down phrases and words that best describe your business, enabling you to better reach specific audiences interested in your software. Aside from optimisinglocal content, you can hire experts who can make the most of SEO practices, such as building resources and backlinks through guest posts.
Invest in customer experience
Providing customers with a good experience with your business is vital to your growth and success. Most people hesitate to commit to buying software immediately, so one way to encourage customers to check out your product is to provide them with a free trial. Letting them experience firsthand can help them decide if your platform is right for them. In addition, this is the best time to provide the best customer experience and leave them with a good impression of your service, as well as your product.
Another key to enhancing customer experience is to streamline your modes of payment. Each SaaS business needs to have a portal that can handle different payment methods, such as a debit or credit card. Investing in dedicated software allows you to process payments made through a card payment machine or your website, ensuring transactions are fast, reliable, and compliant with security standards. Furthermore, if your customer faces any problems with payment processing, there are readily available guides and customer support that can resolve issues quickly.
SaaS payment structures usually involve subscriptions or recurring payments, so your business should be able to accept more flexible payment terms. In the case of credit or debit cards from digital banks such as Monzo, customers can set up instalment plans to automatically pay for their bills. In addition, Monzo's digital bank structure enables businesses to quickly generate digital receipts and in-app invoicing, making the transaction formal and convenient for your customers.
Another key to enhancing customer experience is to streamline your modes of payment. Each SaaS business needs to have a portal that can handle different payment methods, such as a debit or credit card. Investing in dedicated software allows you to process payments made through a card payment machine or your website, ensuring transactions are fast, reliable, and compliant with security standards. Furthermore, if your customer faces any problems with payment processing, there are readily available guides and customer support that can resolve issues quickly.
SaaS payment structures usually involve subscriptions or recurring payments, so your business should be able to accept more flexible payment terms. In the case of credit or debit cards from digital banks such as Monzo, customers can set up instalment plans to automatically pay for their bills. In addition, Monzo's digital bank structure enables businesses to quickly generate digital receipts and in-app invoicing, making the transaction formal and convenient for your customers.
Utilise email marketing
Marketing is an integral part of business growth. But with so many marketing options, it can take time to pinpoint what marketing strategy can lead to a greater return on investment (ROI). Although you can rely on new marketing strategies such as influencer and affiliate marketing, even today, email marketing remains relevant as a low-cost method to reach current and potential clients.
Email marketing software can show your strategies' effectiveness through statistics, allowing you to change accordingly and increase brand awareness. Our in-depth guide on email strategies notes how personalizing emails can boost the email opening rate by almost 30%. You can start designing email personalization through audience segmentation based on general customer information.
In the case of pet retailer Doggyloot, they increased their click-through rate (CTR) by 750% with email segmentation, just based on three general sizes of their customer's dogs. Moreover, your email content should go beyond brand awareness and provide value to your customers, be it information or discounts. You can expand your reach and customer base by effectively utilizing your email marketing resources.
Email marketing software can show your strategies' effectiveness through statistics, allowing you to change accordingly and increase brand awareness. Our in-depth guide on email strategies notes how personalizing emails can boost the email opening rate by almost 30%. You can start designing email personalization through audience segmentation based on general customer information.
In the case of pet retailer Doggyloot, they increased their click-through rate (CTR) by 750% with email segmentation, just based on three general sizes of their customer's dogs. Moreover, your email content should go beyond brand awareness and provide value to your customers, be it information or discounts. You can expand your reach and customer base by effectively utilizing your email marketing resources.
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