Did you know that if a SaaS company grows only at 20 percents every year, there is a 92 percents chance it will cease to exist in the coming years?
This shows that having marginal growth is not acceptable in SaaS.
When it comes to this industry, experts often refer to the term “growth hacking” – A method where SaaS marketers employ creative, low-cost strategies to boost their cloud signups and sales.
Considering the high stakes and fierce competition in the SaaS marketplace, growth hacking is probably the only ray of hope for the SaaS industry to grow beyond the dreadful boundary of 20 percents.
A SaaS industry needs to have a well-planned and executed strategy that can help them push through competition, reach its goals, and become successful. And the key to that is growth hacking.
Growth hacking helps enterprises set up marketing tactics that concentrate on and expand their product, rather than using typically slow-paced marketing techniques.
Here are some of the best growth hacks that you can apply:
1. Invest in Content Marketing
You can take advantage of organic traffic if the content you’re making is SEO-friendly. The more content you make, the more visitors you’ll get. You’re creating an evergreen library of helpful, educational content that keeps tourists coming back for more.
2. Startup Transparency
Transparency is a way of recognizing the relationship while still highlighting the company’s core values and principles. It’s much easier to draw the right guests, clients, and staff if you’re upfront about your company’s culture, business model, and personal beliefs.
3. Establish Brand Awareness
Brand awareness is one of the critical factors for business growth. By creating greater brand recognition, your customer/prospect will remember your business. Either they type in your website address or search for your name on Google to find out more about who you are and what you have to offer.
4. AI to Attract and Retain Customers
Using AI in your company can create an effective task completion because it can take a workload as equal as a large member of the marketing and sales team. For example, you can use chatbot for your loyalty program online to treat and answer your customer inquiries.
5. Focus on The Customer Experience
Elevating your customer experience in your business can raise your customer’s interest to become a loyal customer. A happy customer has the potential to recommend your product to others. Therefore, keep your customer experience chain running as smooth as possible to maintain the traffic of your business.