A guide for SaaS Marketing – With increasing internet users and improvement in telecom infrastructure, India is growing as a lucrative market for SaaS companies. Thanks to the conducive business environment, the small and medium enterprises (SME) sector in India has grown by leaps and bounds over the years.
SMEs are beginning to realize the benefits of technology to bring down operational costs. Additionally, the digital push by the Indian government in the last couple of years forced all SMEs to embrace technology, increasing the demand for technology products and services, especially cloud and SaaS-based. But at the same time, this is the most difficult space to be in as it is highly price-sensitive and value-driven.
Before thinking of SaaS marketing strategy, you need to be clear on how to position your SaaS product or services. Following are some tips that might help your business to develop a solid SaaS marketing strategy.
Smart Pricing
It is advisable to go for multi-year pricing with the split payment. Fortunately, there are a good number of FinTech products such as ECS/EMI, which help to reduce the financial burden on small businesses.
It is important to do some POCs or trials with some companies to find the right value proposition. The common mistake that many Indian startups make is underpricing the product. If you get your SaaS marketing strategy right, you seldom do this mistake.
Value
Indian companies need value for every single penny spent. Given their limited working capital, if your product can save cost or generate additional revenue, you are the KING. Remember, your SaaS offering should be positioned in a way that offers added value to your clients. The SaaS marketing strategy would be to focus on the value proposition rather than the pricing.
Local Mindset
The likes of Amazon, NetFlix, and Spotify are seeing mixed responses in the Indian market. Some multinationals adapt to local demands and needs. However, some try to replicate their global business model.
It is easy to guess which companies would be successful in India. India is unlike China from the socio-economic standpoint and the way business is conducted in India. Varies from region to region. Global companies run multiple ads in different languages these days to connect with the diverse Indian society. Simply implement a local technique that suits that region for SaaS marketing.
Closing Deals
When it comes to Asian companies, it is easier to get into POC mode, but converting that into actual sales would require significant effort. It is important to be able to talk in the same language as your customers to understand the issues. There are many cultural things that global companies need to understand. For instance, most businesses might reject your product for the reason not told you. Find a good local partner.
Channel Strategy
India is big. The businesses are scattered and difficult to reach. It is advisable to have a hybrid channel strategy with your direct sales team covering the important cities and leaving the rest to the channel partners. Moreover, having a strong inside team would be of great help in developing your channel network.
FAQ
What is a SaaS marketing strategy?
The best SaaS marketing strategies for your business always seems effective because SaaS marketing specifically helps in building awareness and promotes software as service products. It is adopted for bringing a product to the market, positioning a product and building awareness around a SaaS organization. But for this, service and attention are necessary to acquire new customers or retain current clients.
How do you develop a SaaS marketing strategy?
Creating the best SaaS marketing strategies for your business is vital. You can develop the best SaaS marketing plan by creating your own business personas, doing competitor research, defining your marketing goals, choosing your distribution channel with marketing budget and best marketing tactics, tracking progress and analysing your results, etc.
What are the 4 types of marketing strategies?
There are four types of best SaaS marketing strategies for your business whether you focus on new or existing products and new or existing markets. They include: Market penetration strategy, market development strategy, product development strategy, and diversification strategy. All these types depend on 5 P’s – Product, price, place, promotion and people.
Conclusion
In conclusion, take some time in understanding the market and your target audiences. The two key takeaways would be value proposition and positioning. At Zingpro Consulting, we have more than 10 years of experience dealing with SaaS technologies across different verticals. Feel free to contact us. We were like you some years ago and understand what it takes to get there. Develop a SaaS marketing strategy that works in the long term.
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