Software as a Service or SaaS, is a quickly growing B2B business sector. According to Fortune Business Insight, the international SaaS industry earned nearly $114 billion in 2020 and $131 billion in 2021. The industry's growth in revenue increased by ~$17 billion dollars in one year.
If projections hold, we could see an industry bringing in nearly $716 billion by 2028.
Despite the pandemic crisis, the number of SaaS businesses is increasing daily. In fact, the demand for cloud computing assistance has spiked recently. According to a Flexera report, 27% of directors acknowledged COVID-19 had poured spending on cloud resources.
That suggests today is the appropriate time for SaaS businesses to conceive new growth tactics. It is the ideal moment to harmonize your SaaS lead generation strategy for a more profitable future.
We did intensive analysis for our B2B readers and encountered the top 7 SaaS B2B lead generation strategies to push maximum results in 2023. So, let's discuss some effective SaaS growth strategies you can implement into your program.
Table of contents
- Things to Ponder Before Embracing New SaaS B2B Lead Generation Strategies
- The 7 Vital SaaS B2B Lead Generation Strategies for 2023
Things to Ponder Before Embracing New SaaS B2B Lead Generation Strategies
Whether you are just beginning with a SaaS lead generation design or already have one in order, it is essential to concentrate on a few things before investing all your resources into a plan.
Know Your Audience
Every lead generation strategy commences with knowing the audience. You can not drive the most significant impacts from your lead generation strategy if you don't have a clear vision. You will need to know your targeted audience persona.
So, first, figure out:
- Who is your potential lead demographic profile appears based on — age, income, gender, and other factors.
- What social marketing platforms do they use? Facebook, LinkedIn, Twitter, or elsewhere.
- What is the intended search for your leads on your website or other websites?
Sort Your Lead Generation Tools
Automation is essential to execute modern B2B lead generation methods. A 2020 McKinsey report expresses that 90% of sales have moved online.
Thus, it would help if you had different specific marketing tools to manage your digital leads today. You should select lead generation tools to help you capture, sort, and manage your data in a single dashboard.
Customer relationship management (CRM) software is a popular lead generation tool. But, you can explore other devices based on your favored SaaS lead generation strategy.
For instance, if you intend to utilize email marketing to develop leads, acquire marketing tools that can assist you in creating email campaigns, personalizing emails, etc.
Set Lead Qualification Criteria
You should set lead scoring parameters before pushing ahead with your SaaS lead generation process. Therefore, this will permit you to identify qualified and non-qualified leads quickly. It will conserve your time and resources when you target only qualified leads.
Lead qualification benchmarks for every business are unique. B2B SaaS companies' highest lead score occurs with long-term subscriptions. A lower score might be when a lead signs up for a free trial or a lower score for those that only visit your pricing page.
Besides this, you should assign a score to every lead generation action. Each location in your sales funnel should have a specific score. When someone follows you on social media, visits your website, and so on, you should assign how valuable these areas are to your lead generation.
Then, later on, you should nurture leads in your sales pipeline using the lead score.
The 7 Vital SaaS B2B Lead Generation Strategies for 2023
The pandemic may have been a silver lining for SaaS companies. However, the competition for B2B SaaS businesses is not a painless endeavor.
An analysis has championed that increased investment in the IT infrastructure, security, internet penetration growth, and data backup promotion has provided an advantage to the SaaS market.
Therefore, you must hone your SaaS lead generation techniques to guide desired outcomes in 2023. Therefore, these top 7 SaaS B2B lead generation strategies that can assist you:
Method 1 - Re-evaluate Your Pricing Structure
Pricing is the essential SaaS lead generation factor for thriving in the competitive marketplace. Especially today, most SaaS companies use complex pricing structures to cater to every customer's needs.
Therefore, you must understand your SaaS service or product and customer requirements before designing a price structure.
However, Gimmio, an email signature management software, provides pricing structures that rise per signature. They allow people to create one signature for free. But, for more, they must pay based on every signature.
This pricing strategy is practical for SaaS companies providing user-based services.
Conversely, Grammarly, a grammar and plagiarism checker tool, offers two standard pricing plans with three billing options. The company has subscription plans as follows:
- Monthly: $30 USD/month
- Quarterly: $60 USD/three months
- Annual: $144 USD/year
This pricing arrangement is ideal for urging users to purchase long-term subscription services.
Here are a few pricing choices SaaS brands can test:
- A flat-rate model to authorize one lump sum charge for your product or service without any attribute deviations.
- A multiple-tier pricing plan based upon the attributes, users, and subscription duration.
- Supply basic arrangements as an initial freemium. Then provide an opportunity to upgrade to more sophisticated features later.
- A tiered pricing plan where elements determine the final expense.
- Pay-per-user model where service is assessed, based on the number of accounts.
- The pay-as-you-grow model is the most favored by B2B brands, entitling them to add components or users as growth occurs.
- A one-time price is applicable when you don't plan to add any new features to your product.
Method 2 - Nurturing Your Leads
As we already documented, the SaaS marketplace is booming right now. So, you can not depend upon telemarketing calls, senseless emails, or superficial content-sharing strategies to nurture your 2023 leads.
The competitive environment in the SaaS industry has boosted B2B customers' expectations. People desire a personalized experience by the brands today. Thus, you have to cultivate your leads like you genuinely mean it.
However, you might be asking yourself, "how to do that?"
Well, you have several choices in the latest digital topography to promote your leads, like:
Social media marketing
It is no mystery that social media marketing is an excellent platform for generating online leads. However, you can satisfactorily nurture them in your sales pipeline after studying your potential leads exchanges on social media platforms for comments, likes, followers, etc.
Good old content marketing is consistently the most helpful way to nurture leads. However, you must go beyond simple blogs and provide downloadable whitepapers, ebooks, or other content material to stimulate your lead's interest.
Account-based marketing (ABM) is a powerful SaaS lead stimulating approach.
This plan can simplify your marketing and sales teams to target only high-value leads. It will yield more valuable outcomes and decrease your workload.
ABM doesn't have to be expensive, check out Leadfeeder for an affordable solution.
Basically, 62% of online shoppers stated they would buy more online products if live support were available. Adding live chatbots on a website can encourage more consumers to shop from you. Live chats can assist in nurturing leads faster without much action.
Method 3 - SEO Optimize Your Website
Search engine optimization is an easy, effective B2B lead generation strategy for SaaS businesses. According to Mike Sounder's research, 26.4% of SaaS website traffic comes from organic searches.
Thus, it would help if you spent a decent time developing your whole website with various keywords. Therefore, do not only target keywords word-for-word affiliated with your product. It would support you in targeting similar-looking keywords your targeted audience repeatedly searches terms.
For example, if someone is examining marketing tools, they may also want to know how to publish on social media or what is the best manner to post on LinkedIn.
So, based on your user's intent and issues, you should target keywords and implant them on your website. For more helpful understanding, check out the blog of SEMrush.
Salesforce may provide a CRM solution, but they also cover definitive subjects like how to improve sales, better connect with customers, etc.
Method 4 - Enhance the User Experience
The operator of your product's experience is one of the critical core elements for SaaS businesses to forge high-quality leads. Without sound UX structure, you can not grab leads online, period.
Thus, you should conduct a UX audit on your website or mobile application and examine for UX issues to resolve them immediately.
Typical UX issues that SaaS websites encounter are:
Sluggish load time
According to an Unbounce statement, your conversion declines by 12% for every second your website takes to load. The surprising thing is that 81% of marketers understand this, but only 3% are attempting to optimize website speed. So, do not be like most marketing teams; improve your page load time today.
Add clear CTAs
Add an excellent call to action button on all crucial pages like the home page, pricing, sign-up, about us, etc.
Responsive website design optimizing the users' experience for mobile phones and tablets is crucial to impress users and search engines. Ensure your website layout and content design are for small and big screens.
Method 5 - Create an Industry-Specific Page
Most SaaS companies make a big blunder by not developing pertinent pages for every target client, mainly if your SaaS product is suitable across various industries.
Search engines can not rank your website on the right keywords unless you specify who can benefit from your services or products. Plus, a dedicated industry page will help illustrate benefits for each targeted customer and embed more keyphrases.
ActiveCampaign is a comprehensive marketing outlet that aids various users. Therefore, they have explanations sorted by needs, products, and industry.
This bifurcation permits businesses to highlight problems and benefits they can handle for each targeted customer. It is an uncomplicated B2B lead generation strategy to enhance UX and optimize websites for SEO.
Method 6 - Host Webinars
Webinars are the most promising SaaS lead generation device for lead acquisition and conversion. It allows SaaS businesses to launch an immediate connection with possible leads.
Webinars assist in building relationships, establishing your niche authority, and nurturing genuine leads. You can reveal your software to leads during live webinars and measure their reaction in real-time. You can also reasonably show your product conveniently to potential leads via webinars.
SurveyMonkey has added a devoted webinar section on the website to comprehend the usefulness of webinars. This way, curious users can register for webinars and reasonably understand the product before buying it.
You can re-use your webinar to turn it into a blog, see our example here.
Method 7 - Publish Product Reviews
The last SaaS lead generation strategy we would like to emphasize is publicizing product reviews. However, you can not just post arbitrary thoughts on your website and anticipate results.
According to Oberlo, 62% of customers state they will not purchase from brands that censor online reviews. Therefore, you must publish authentic and genuine reviews on your site.
To demonstrate the authenticity of reviews, you can use these ideas:
- Request third-party websites to review your site
- Add user's profile and social media links.
- Publish video reviews
However, you should also register your SaaS company or product to third-party reviews to get more authentic reviews. These sites will also help create backlinks that help your SEO. Trustpilot, Capterra, and G2 are popular site to review SaaS products.
Social media channels are also an excellent method for obtaining authentic reviews. LinkedIn and Facebook have a reliable options for writing reviews and rank services.
Bonus - Leverage other people's network
When starting out you might not have a big network, there will be someone else who does. What if you can start leveraging their network to get new leads, and in the end paying clients. Figure out first who is your Ideal Customer Profile (ICP), once you have that clearly defined it is time to figure out who has access to them. You can start thinking about;
It doesn't really matter if they are a big or small company, as long as they have access to your Ideal Customer Profile. Once you compiled a list, it is time to figure out what they would want in return. This could be money, extra benefits or something it could be nothing.
This kind of lead generation is what you call a partner or affiliate marketing. Read more about how to find affiliates for your SaaS.
The Bottom Line
So, for SaaS business owners, we discussed our most useful B2B generation strategies that can assist you in growing in 2023. Whether a live chat or customer reviews, determine the proper SaaS lead generation strategy that can benefit your business today.
However, we will also suggest implementing integrated strategies and surveying each strategy's ROI. Therefore, you should invest in the lead generation strategy that presents the most qualified leads. As a result, you will have redefined your SaaS B2B lead generation strategy with these simple implementation methods.