Imagine you are selling a perfect and top-quality SaaS product with the best features and specifications. But when people Google the solution for a problem you are solving, your ‘solution’ is nowhere to be found. They don’t even know it exists.
How does it sound? Terrifying, right?
And you don’t want that.
But how can you make sure you are found by the right people – people who are looking for a solution around the problem you’ve targeted. Digital growth hacking and marketing is your key.
It has the capacity to help you scale your SaaS business effectively and rapidly. Even if you don’t have the resources to conduct it on your own, you can hire a third party agency to help you leverage the strategy to maximize SaaS growth business hacking for you.
But first, let’s get clear on what are growth hacking and growth marketing.
Growth hacking is an approach to business that focuses on rapid experimentation and data-driven decision-making in order to quickly identify and scale effective marketing tactics. Growth hacking is often associated with startups and small businesses, as it is a way for them to quickly test and iterate on different marketing strategies in order to find what works best for their business.
It also indicates the use of cost-effective and creative strategies in order to stimulate rapid business growth. Strategies that provide instant results in the short run are included in growth hacks. One such strategy is the pay per click strategy and campaigns because they generate instant leads.
Growth marketing, on the other hand, is a more holistic approach to business growth that involves a combination of marketing, product development, and customer acquisition strategies. It is focused on identifying and leveraging growth opportunities in a systematic and sustainable way, rather than just trying out different tactics and hoping for the best. Growth marketing often involves a more structured approach to experimentation, with clear hypotheses, metrics, and goals, as well as a focus on long-term growth rather than just short-term gains.
Growth marketing means investing in solutions that are resource-intensive in order to drive company growth. So, it relies on long-term strategies whereas, in contrast, growth hacking utilizes shortcuts for the achievement of quick results. This includes strategies like search engine optimization, email marketing, and others that drive results in the long run.
Growth Hacking vs Growth Marketing
The main difference between growth hacking and growth marketing is that growth hacking is more focused on rapid experimentation and trying out different tactics to see what works, while growth marketing is more focused on a systematic and sustainable approach to growth that involves a combination of marketing, product development, and customer acquisition strategies.
Although these two sound like different strategies, you can use them together to exponentially grow your SaaS startups in 2023.
Now that you have a clear understanding of the difference between growth marketing and growth hacking, let’s dive deep into the B2B saas growth hacking strategies.
4 Growth Hacking Strategies For B2B SaaS Models In 2023
There are plenty of growth hacking strategies that you can use for your B2B SaaS Company. Let’s discuss the top five such strategies that can immensely benefit your SaaS company.
1. Make ‘Shareable’ Content
In this digital world, we know that people love sharing videos, pictures, and posts among networks and friend circles. You can take advantage of this interest of your target audience, and create engaging ‘shareable’ content around your service and industry.
It will motivate your audience to share it among their network, making you reach more people, and helping you build a more credible brand image.
It is important to keep in mind that your content must offer real value to your targeted customers in such a storytelling way that your customers resonate with it. Moreover, the content must be completely relevant to your offered solution via your SaaS product. Additionally, it should also set you apart from your competitors as a thought leader and an authority.
Some shareable content types you can use include e-books, podcasts, webinars, tweets, and sometimes even memes. These content types are particularly effective in generating leads for B2B SaaS transactions.
You can make the content more shareable with other creative tactics, like including share buttons. Share buttons are a good tactic because the articles that have snippets ready to share on tweets increase the chances of people sharing them on their own social media. In addition, converting your article into other forms of content can engage your customers differently via different channels.
2. Offer a Free Trial Version
The free trial version offers of SaaS are important, especially in the B2B market. Why? Because in the B2B market, you don’t just have to convince a single consumer, there’s a whole team of decision-makers that influence the ultimate purchase.
Therefore, it is a good strategy to give those decision-makers an opportunity to see and use your SaaS product in their work, test its performance and measure the results and ROI it generates. In this way, your SaaS business is most likely to cash in paying clients with a freemium business model.
Another SaaS growth hacking strategy people use is to have two versions of your product – a free version and a premium version. You can provide very basic features in the free version and you can offer more advanced features in the premium version for which a subscription will be required.
3. Referral programs
People are 4 times more likely to buy a product referred by a friend, as per a study by Wharton School of Business. It is human nature to trust the recommendations of people you know. And this is exactly why referral marketing is a super effective way of customer acquisition instead of online ads and impersonal sales pitches.
Incentivized referral programs are a great growth hack for SaaS businesses. It is important to offer incentives that are actually attractive to your potential and actual customers along with the best possible user experience. This will make your existing customer base loyal and they will strongly advocate and vouch for you to others.
One such example is Dropbox which saw a user growth of 3,900% in 2017 after only 15 months of offering free cloud storage per referral that ends up in a new person who joins and downloads the Dropbox app. This shows that referral marketing works for SaaS businesses and helps them grow exponentially.
4. APIs and App Integrations
It is a good thing if your SaaS product complements other applications. Why? Because then you have the option of exploring various opportunities for ‘Application Programming Interfaces’ (APIs) and app integrations. Some examples of what can be done with SaaS APIs are listed down below:
- Updating all your Google Ads campaigns at the same time.
- Looking at your orders on Shopify.
- Creating a leads dashboard with Salesforce and Pardot data.
- You can enable omnichannel marketing by offering existing information to your customers across a wide range of media.
- Improvement in data visibility.
- Assisting your consumers in the use of their KPI dashboard for data tracking.
- You can improve user experience and create personalized experiences for every customer.
The advantages you can reap from APIs and app integrations do not end here, it is a vast field. SaaS businesses welcome new and creative ways to optimize the functionality of their apps. You just need to find an API strategy that is relevant to your SaaS product and suits its brand image.
Maximize Your SaaS Growth with Brand Surge
Brand Surge is a full service digital marketing agency that provides you with the perfect mix of growth hacking and growth marketing strategies.
We aim to provide highly customized growth hacking and growth marketing strategies for your SaaS according to your business needs and goals. We promise higher leads, conversion, sales, and recurring revenue generation for all our SaaS clients. So, without any further ado, get in touch to get a free consultation and start your SaaS growth journey now.