20 Nov 2022| ONPASSIVE
How To Create a Growth Engine For Your SAAS Product?
SaaS products have to be marketed to gain user attention. Online technologies have revolutionized the path for marketing and took shape as various blog posts and ebooks to share knowledge.
Knowing how well the marketing tactics fit well to attain business growth is a point that needs to be thought of. The growth initiatives can be combined to form a growth engine.
The framework gives scope to paying attention to customer acquisition and the deliverables of each marketing channel. Of them, the framework helps choose the right marketing option at the right time.
A growth engine refers to measures intended to make customers happy and turn the leads into paying customers. On a broader level, the growth engine must include the different paths user can use to turn into customers. Moreover, it provides a complete automated and integrated platform to satisfy customers at each stage of the sales process and convert them into happy customers.
Customers are showing interest to purchase the product
Attain scalability and efficiency so that the return on investment turns maximum.
Achieve automated methods wherever possible reducing human efforts
Enables the complete instrumented process, and thereby any congestion can be quickly identified and solved.
Helps prioritize activities and suggest ways enabling highest Return on Investment, and assess and choose those channels generating positive ROI.
Business models and product delivery models are two different things. In this regard, SaaS refers to the product delivery model but not the business model.
The foremost requirement to design a growth engine for your SaaS product is to study and understand the business model and incorporate those standards and features, enabling customers to buy. For instance,’ inside sales’ can be an organization’s methodology depending on its business model.
For this, one needs to draw the diagram for the growth engine. While performing this, one needs to focus on the possible paths a user would be interested in the business and turn into a happy customer. All the potential customers find various paths such as SEO and land at the businesses landing pages such as marketing blogs through which they gain the required knowledge.
In the later step, we find the interested users approach businesses and avail themselves of a demo or an ebook. Later, they are nurtured and finally sent to the sales team for closure. This step by step process can be named inside sales.
1. SEO: Billion of searches happen daily. The traffic resulting from such a search is worthy of noticing your product as they have done out of their interest.
2. Direct: This source serves more difficulty. People would know about your brand through word of mouth, referrals, brand awareness, offline campaigns, etc.
3. Guest post: Businesses can know the target market by identifying the sources where customers are hanging out. Thus, the path for more traffic is set. Hence, the opportunity exists to promote one’s business on another website.
4. Paid marketing: Ad marketing can find its place by studying the websites attracting significant visitors. Such an opportunity can be leveraged to implement paid marketing through advertisements.
5. Social Media: Assessing the current trends and creating a broad social media presence can be accomplished by publishing the right and appropriate content. Studying the audience of the varied social media channels, the content can be designed accordingly.
SaaS product marketing finds the best implementation with the growth engine, which is all about analyzing the potential customers’ growth prospects and the success of SaaS business marketers.
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