The COVID-19 pandemic has shaken the business world to its very core, and although its impact is tough to measure, estimates from the Federal Reserve show that roughly 200,000 U.S. businesses closed their doors in 2020, up from the 600,000 establishments that normally close each year.
As SaaS marketers attempt to pick up the pieces, they’re finding themselves faced with a very different marketing landscape. What began as a temporary crisis response is now a leap forward into the future, and the COVID-19 pandemic promises to greatly influence the buying and selling market in the years to come.
Now more than ever it’s important to know how to craft a winning SaaS sales strategy, as it is estimated that by the end of 2021, over 70% of businesses will function almost solely using SaaS solutions. Winning strategies include persistence, short demo lengths, and upgrading your email campaigns.
Here, we’ll explore the three main trends of SaaS marketing post-COVID-19, and address how these methodologies can help improve your SaaS sales today.
Prioritize Customer Retention Over New Acquisitions
Marketing is usually one of the first areas to experience cutbacks during financially hard times. Working with fewer resources, marketers are therefore struggling to secure customers in search of new services, as the virus has tightened peoples’ purse strings.
As a result, it may not be reasonable to expect the same results from your sales team. The job of a software salesman has become increasingly difficult over the past year, meaning many salesmen are focusing on retaining old customers rather than scavenging for new ones. That may mean an increased focus on customer outreach, surveys, and determining how to increase your product value. Emphasizing discount programs and extra perks can also make your service more appealing to clients.
With quitting rates at an all-time high, you may even have lost some of your prized software salesman for alternative software sales career paths, such as outside sales reps and post-sales account managers. The latter occupation is becoming increasingly important in maintaining client relationships, renewing contracts, and ensuring product efficiency.
One universal change in buying and selling is an increase in online services. The majority of B2B buyer-seller interactions have gone digital, which allows for more efficient self-service for both clients and businesses alike.
Previously, e-commerce was mainly the domain of small purchases and knickknacks, but today “70% of B2B decision-makers say they are open to making new, fully self-serve or remote purchases in excess of $50,000, and 27 percent would spend more than $500,000.”
Perfecting your customer experience is another way of standing out from the crowd. When clients experience poor customer support or bulky user interfaces, they’ll be less inclined to follow through with their purchase and to return. In fact, some statistics suggest that customers are four times more likely to look elsewhere if they encounter customer service problems rather than product or cost problems. Live chats, videos, user FAQs, and brief tutorials can all elevate the customer experience, along with a simple, easy-to-use website. And those are just a few of the top SaaS marketing campaign tips as we look toward the future.
The Changing Landscape of Content Marketing
The world of content marketing has certainly gone through the wringer over the past year and a half. But that doesn’t mean it’s declined in value — every SaaS company needs to utilize the power of content if they wish to truly connect with their client base.
Not only does content help increase your conversion rate, but it also adds value to clients and potential clients with little effort on your part. Providing useful information to your clients doesn’t mean you’ll be giving away your business secrets. Rather, it can help address common questions from your audience, engage them in interesting conversations, and display your brand’s personality. In addition, customers who view your high-quality, thoroughly researched content will be impressed with your expertise and business model, viewing your company as an industry authority.
Reputation is everything in today’s business world, And content marketing is the most direct path toward successful SaaS marketing post-pandemic. In nearly every industry, content marketers are hard at work brainstorming, planning, researching, and storytelling for brands to increase conversion rates.
Becoming a content marketing specialist is also easier than ever before due to expanded job and online education opportunities. Hiring an effective content marketing specialist from the large pool of experts can make all the difference for your operations — simply begin tracking your marketing performance and you’ll begin to see the results!
Navigating a New World
COVID-19 has disoriented us all, but now it’s time to get back on track, both personally and professionally. Although it may be more difficult than ever before to secure new customers and flesh out your business on a budget, changing strategies in content marketing, digital interactions, and customer retention efforts are all part of shifting SaaS marketing practices as the global economy finds its footing once again.