- These major platforms probably only went all-in on flexbox fairly recently
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The SaaS market is ever-evolving and we entrepreneurs have to constantly up our game if we want to be successful. There is no room for error and the tiniest marketing faux pas can put you behind your competition. However, to err is human and we marketers and entrepreneurs are no exception. As we all know experts are made and not born but in a field, as crowded as the SaaS industry we need to be expert strategists and decision-makers to make our mark.
Strategy # 1: Use Live Chat to Gain Customer Attention
The Live chat feature is a great way to start a 1 on 1 conversation with potential customers and set your website apart from the old, impersonal sites of your competitors. It’s been around for about 50 years, and over the years it’s evolved into sleek robot AIs to start up chats and solve issues in under a minute. It adds a personal, human touch to your sales efforts and as intelligent as the scientists are they still haven’t managed to build one that can convince people to buy from it. The Live Chat makes people feel like they’re talking to a person and not just a corporation and that makes it easier for you to convince them to buy what you’re selling.
There are a few key benefits of using the live customer support. It increases potential customer leads through personalizing the customer experience. Most SaaS companies offer feature-rich and complex software. This can confuse customers and possibly discourage them from buying the product, this is where you come in. They ask the questions and you have to make sure you have all the answers!
The average SaaS website has a conversion rate of around 1-2%— when companies implemented the live chat feature, they were able to attract over 27% of inbound leads. That’s a whole lot of potential customers.
Increased revenue from more leads
Now that you’ve potential leads in hand, there’s a good chance that you can convert them into paying customers. Companies whose websites offer the live chat feature have seen that a 38% increase in customers and 79% of those businesses who implemented the live chat feature saw a rise in customer loyalty, sales, and revenue. It increases the efficacy of communication, as well as a single live chat rep, can answer up to 6 visitors simultaneously.
The first step is to set up a live chat, of course. How do you go about it, you ask? Well, for starters, find and download good and reliable live chat software. We recommend Intercom, Drift, or Olark.
Monitor the effectiveness of your live chats
Now that we’re up and running, we need to keep an eye on it to monitor its effect on your sales figures. There are a variety of metrics to measure efficacy, like the first response time (the amount of time it takes for an agent to respond to a chat request) or first contact resolution (the % of issues resolved during the first chat).
Now that the chat is up and running, it’s time for our next strategy
This is insane!
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Strategy # 2: Send Abandoned Cart Emails to Win Back Customers
Don’t we wish that our product would just fly off of the shelves? Unfortunately, making a sale takes effort and quite a lot of time. Not all people impulse buy, especially not when it comes to software. It’s not a Snickers bar after all; this is serious stuff we are selling here. Also, people forget to look into any purchases they’ve lined up and put into their carts after they’ve left your website. They might have forgotten all about it, disliked the prices or they might have just been browsing. This is a wasted sales opportunity. Fear not, however, this is exactly why the abandoned cart email exists.
An abandoned cart email is pretty self-explanatory. It helps gain back customers after they’ve left, and you can even add in a message about promotional offers or discounts to really grab their attention.
This strategy can help boost conversion rates. A study by Barilliance found that conversion rates from cart abandonment emails are 18%, with some getting as high as 40%. You can also increase average order values by upselling customers by offering combo deals in emails.
Boost your relationships with customers
Cart abandonment emails are a great way to re-engage with customers by personalizing the emails you send to them. You can personalize them using the personal details they entered while using your website. Address them by their name, this lends your company some warmth and shows the customer that you care for them. It’ll help you stand out from all the other SaaS companies.
This is how you go about implementing this strategy:
Set up your own abandoned cart email strategy.
There are plenty of email strategies to choose from but every good strategy includes the following things:-
A well-crafted subject line
A sense of urgency
Sometimes, you’re customers might just not be biting your lure. The abandoned cart email strategy is great but our goal in the long term is to eliminate the need for them entirely. You can use tools like Google Analytics to research what your audience needs and expects as well as keep an eye on the competition. Email surveys are a great way to identify customers’ pain points and thoughts about your SaaS product.
Now that we have sorted our email strategy out, let’s move onto number 3.
Strategy # 3: Automate Your Marketing Using Marketing Tools
Automating your marketing saves a lot of time for your employees. Marketing tools take care of repetitive, tedious tasks and leave you with time for more important work.
Email campaign creation
Website widget content
Online ad placement
You can spend the extra time finding more customers and creating strategies to increase customer retention, loyalty, and web traffic. 91% of marketing automation users say that using marketing automation is “very important” to their overall online marketing efforts as well; and no doubt, saving time is in their top benefits.
Marketing automation tools can be used to target content at each stage of research, gathering relevant info such as what emails customers are opening, what posts are performing well on social media channels, and more.
What do you do with all these cool benefits, you ask? You could:
Create your automation strategy for your SaaS
Creating your automation strategy can be done in 4 steps:
Determine the life cycle funnel of your product
Determine the metrics for every stage of the funnel
Create a map of the journey your customers will take
Build your SaaS marketing automation workflow
The next thing we have to figure out is our social media strategy.
Oh, yes please!
Strategy #4: Connect with Users via Social Media
Now, SaaS products don’t exactly sell like hotcakes. Showing people how they work and making them look appealing is a lot of work. So how do we stand out? All the cool kids are on social media these days, and we need to be right where the action is. Social media marketing comes in all forms, such as Facebook, Twitter, and Instagram to name a few.
So why do Social Media Marketing? We need to give your great SaaS product a platform to speak for itself. The more people see you in their feeds and timelines and hear about you the better. People believe in products they have seen before and often and they’ll be more willing to buy from you.
A whopping 93% of marketers said that social media marketing was important for their SaaS company. And that’s because social media can influence a ton of people if you know what you’re doing. You’ll gain visibility in the social media sphere, which leads to customers recognizing your brand as a stand-out brand and expert in your field. People will trust your company more, gaining that amazing credibility as a result.
Your customers will communicate better
If you have a solid social media presence, you’ll be able to communicate directly on a platform where your customers feel less inhibited. They’ll be able to post, comment, like, or share your products to improve click rates and create more trust and credibility.
Think of all the free publicity and when have increased sales ever been a bad thing eh?! As always, we need to figure out a way to do this. These are the steps we need to take:
Create a social media strategy.
Set social media marketing goals such as generating leads/sales, growing your audience, etc. You’ll also need to analyze your competition to find out what they’re up to, as well as the number of clicks on your content or engagement rates.
Get a social media audit
A social media audit evaluates your performance on social media platforms. It helps you identify your strengths and also where you need to re-strategize and improve. You’ll find out what does and doesn’t work.
You win when your customer wins
Remember the first rule of sales, the customer is king. As Bill Price says “Smart companies have realized that customer loyalty is the most powerful sales and marketing tool that they have”. Create strategies that make people happy while making money. People’s love is something no amount of money can buy but the perfect product coupled with a great sales strategy can. The people will love you and give you their money and that’s what we in the business world call a win-win situation!