December 20, 2021 Last updated December 20th, 2021 623 Reads share

6 Growth Hacks for SaaS Businesses

Image Credit: pixabay.com

Offering a software as a service, whether B2B or B2C, can be a great, sustainable and easily scalable business model, but you have to know how to grow. With that in mind, below are 6 tried, and true growth hacks for SaaS businesses.

 

Manage Your Models Better

Good model management and deployment is key to being able to quickly carry out changes to your software. It boosts the development team’s productivity, lowers the number of bugs in the final code and increases the system’s readability, improves the system’s breakdown and modularization, aids in the growth and upkeep of the system. Importantly, it also makes it easier to reuse system components in new projects.

Share Your Social Proof

This growth advice is always effective because it informs your target audience and proves to them that other people who are similar to them are using your software, and there is no reason why they shouldn’t as well. Social proof is incredibly important for consumers. 

There are so many SaaS options out there that end users are often unsure of how your offering will be different from the other highly similar ones on the market. Showcasing other satisfied customers that have utilized and/or profited from your SaaS product on your website is a terrific approach to keep your SaaS business growing. This will give your SaaS company greater credibility, and potential users will be more willing to give it a shot.

Set Up a Podcast

Launch a podcast campaign and make it part of your PR plan to interact with your audience in a meaningful way. You can also reach out to already established podcasts and try to get yourself guest spots. This is a simple and successful approach to increase company exposure and revenue and has become one of the most important content marketing approaches.

This is a SaaS growth tip that never goes out of style. Podcasts may be listened to for months or even years after they were recorded, and if you have something unique to say, you can attract users to your service years after the original episode airs.

The most important thing is to pitch the proper podcast. You need to understand which podcasts your ideal customers are already listening to. You should spend time perusing the comment sections of podcasts you come across and see what kind of users a SaaS already has by visiting websites like G2 and Trust Pilot.

Develop Competitor Comparison Pages

Competitors’ pages are bottom-of-the-funnel material that allows leads to make decisions for themselves. The majority of purchasers will be aware of various options and will be trying to compare them.

Rather than appearing to be the sole answer for your customers, a better approach is often to build a competitor comparison website directly comparing competing solutions. Organize the competitors into a table listing that compares our product to five of our competitors in terms of characteristics. If you do it well, your competitor comparison page can end up becoming one of your most popular ones. Obviously, the intent of your competitor page is to steer people towards your product while still being truthful about the positive qualities of your competitors as well. Doing good competitor analysis will help you make more forceful arguments in favor of your service.

Referral Programs

If your customer base is pleased with your product and you’re expanding at a fairly constant rate, you can really jumpstart your growth by adding a referral network. Most clients who use a referral program are happy to refer new business to you, but if people aren’t aware of the program’s existence, they will most likely forget.

As always, in order to entice people to do anything for you and your business, it pays to offer them something in return. This could be a discount in the future, a free product, or entry into a contest to win something of value. Furthermore, recommended customers are more likely than non-referred customers to take advantage of your offerings, especially when there are many highly similar ones on the market.

Free Trials

For SaaS organizations, there are a few growth hacking tactics that have been demonstrated to perform well. Offering a free trial is the most successful method because it is almost unmatched when it comes to generating a large number of leads.

Keep in mind, though, that not all leads will convert right away. Some may not convert at all, opting to stay freemium users for the rest of their lives. However, those users have their own set of advantages, such as sharing information about your tool with their friends, coworkers, and on social media. A free trial is a good SaaS growth strategy, especially if you are an unproven entity with little brand recognition.


Conclusion 

There has been a proliferation in SaaS businesses over the last several years, with a notable uptick over the last two, as both businesses and consumers have looked for cloud-based ways to improve their operations and lives. With so much competition, understanding which growth hacks work and which ones don’t is crucial.