Behind the question of whether a billing system can help your SaaS business grow is the question of what it means for a SaaS business to grow. This guide tackles both — it creates a model you can use to approach SaaS growth and a 360-degree view of how your billing system fits into it. Read More >
Outstanding marketing and talented sales representatives can do wonders to move a product, but the single most-effective way to develop a loyal base of customers is to produce something that’s just excellent.
Marketing Writer Alexandra Smith points out that even though savvy brands are moving from television and radio advertising to digital platforms, 48% of consumers still aren’t interested in being marketed to. Many of the world’s most-beloved brands, including Chipotle and Starbucks, have gained market share over their competitors not through clever or aggressive advertising efforts, but because they invest real hours and effort into having a better product.
If you’re producing a superior product, word will spread and your customer base will flourish. Nielson research has found that 92% of consumers still trust personal recommendations from friends and family more than any form of marketing. SaaS thought leader Lincoln Murphy recently wrote a controversial post about how subscription business owners can get their product to sell itself. While we retain the highest level of respect for Murphy, we’re firm believers that if you’re doing what you should be, you shouldn’t have to make anything happen. It just will, and here is why:
1. You Know Your Audience
If you can’t tell me much about your target consumer and average current customer, there’s a good chance that your product isn’t moving at the rate it should be. You need to know what attracts consumers to your product in the first place, why they make the purchase and how they use SaaS on a day-to-day basis. If you’re still drawing a blank, learn more about your audience to improve your product accordingly.
2. You Reward Recommendations
You really appreciate referrals from your current customer base, right? If you don’t have a well-defined loyalty program in place, and you’re not offering attractive incentives for customer recommendations, it’s time to start. If your product is stellar and your customers are both engaged and provided with incentive for getting their peers to sign up, your sales teams’ job will become much easier.
3. You Drive Engagement From Day One
Using marketing automation, entice your trial subscribers into becoming engaged users of the product. Even if your subscription product is incredibly complex, that doesn’t mean there needs to be a sharp learning curve or high risk of disengaged users once the trial begins. Make contact regularly, pointing out key features and best-practices for using the software to ensure they’re experts by the end of the trial period.
4. You’ve Made Sign-Ups Easy
Unless your company is getting way too many unqualified leads, you may benefit from making the trial sign-up process significantly easier. If there’s few barriers to get started, why would anyone be able to resist the lure of signing up for a 30-day subscription to the best subscription software in your niche?
5. You’re Honest
People want to do business with companies they trust, and organizations that gain a reputation of honesty are given an automatic boost in their niche. Admit to your mistakes on social media, ensure your subscription sign-up process manages expectations well, and create a reputation as a company that has nothing to hide. Your prospects and customers will soar.
Here you have it. 5 things you do well to make your SaaS Product sell itself. Did we miss any? Please use the comments box below to share your views.
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