It’s 2021, and you most likely have a budget for your SaaS marketing efforts for the year. But the big question is, “How do you get the most out of these funds?” Not to worry, we have the answers.
Boost your Marketing ROI with this SaaS Marketing Hacks
A reputable SaaS marketing agency Getuplead has verified the hacks we have provided below. So, you only have to worry about implementing them the right way.
1. Your marketing activity metrics must be linked to your budget.
Your marketing goals are often dependent on several factors, especially the stage of the business you are currently at. For example, the early stages may be all about getting new customers or subscribers, while you can focus on retention if you are already established.
Either way, you must identify the right marketing activities to fetch the highest number of leads, thereby maximizing your marketing budget on the right channels. But, of course, you can continually refocus on the areas that perform well.
Linking your marketing metrics to your budget can contributes significantly to your business’ growth. For instance, you may want to convert 40% more freemium users or increase the pipeline by 15% monthly. You may also be considering breaking into a new market or getting existing customers to buy more.
Your goal will determine the tactics to go with, while the budget only serves as the driving force. After all, every marketing goal is tied to helping your business grow.
Summary – Do a regular assessment of your marketing performance and budget. Identify your marketing goals and work towards it, while adjusting allocations in line with the returns.
2. Always make adjustments after re-evaluating the ROI.
Identify the best performing marketing activity in line with its goals and how it has helped achieve business growth. Although a lot of planning goes into marketing budgets, they must also be flexible enough for adjustments.
So, you must be ready to make changes based on the current realities. For instance, if your marketing fund will bring you more leads when invested in PPC and webinars, you shouldn’t spend it on advertising at trade shows. Likewise, if you are diving into social media marketing, you do not have to invest in the mainstream platforms if your audience can be found on Quora and LinkedIn.
Summary – You should always be ready to adjust your marketing activities as soon as it is necessary. You should treat every marketing budget aspect the same way. Giving preference to one aspect over others may hurt your marketing goals.
3. Be ready for the marketing growth marathon.
You need a calendar and a product roadmap to make the most sense out of your marketing budget. This is the only way to know what you will need for your marketing efforts and when you will need them.
For example, you may find Q1 and Q2 the peak periods for SaaS companies, with Q3 and Q4 slower due to the summer and winter holidays, respectively.
Summary – If you are getting the desired results, you should find a way to celebrate them. It could be mini-breaks with the team or late mornings if the funds for a holiday are not available.
4. Always involve your customers.
You can pursue growth while staying with your budget using this marketing concept. How? Find a way to convince other people to be your brand ambassadors, and do the marketing for you. For instance, you can introduce an incentive for every successful invite by existing users. This does not have to be necessarily monetarily, but value-added options on your products.
Alternatively, you can introduce a free offer to entice customers to refer your business. However, your choice of the free offer must not incur any additional cost. We recommend free audit, a custom demo, or downloadable materials.
You can also reach out to customers to see if they can offer testimonials, which you can use as marketing materials for cross-promotion. Again, this should not be a problem if your customers are happy about the services they get, and it is also an avenue to associate their brand with yours.
Summary – Existing customers can bring you new ones. You only need to offer an incentive or irresistible offer to make them your marketers and sources of new leads.
5. Assemble the best marketing team.
Having an excellent team is often overlooked when it comes to maximizing marketing budgets. Every team member must be very good at what they do, understand your business goals, and achieve them by developing and executing the right marketing plan.
Human resources are obviously the most expensive line item for almost all budgets. But you can still get the best hands in sales and marketing for SaaS without breaking the bank. In the end, you must be able to decide if you are better off with a marketing agency or a single, local full-time marketing employee.
Summary – You can ask for referrals when filling marketing positions. Help new members learn and grow into their roles and capabilities. Furthermore, you should create an enabling environment and a reward system for best-performing team members.
If you adopt these five hacks, you will be on course to get the maximum returns from your marketing budget for the year 2021. Remember, it’s never too late to make the right moves.
Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.