10 Useful Tips to Scale Your SaaS Business

1. Rethink your sales strategy

Take a closer look at your sales funnel and invest in prospecting and hiring the right salespeople. You can’t build and grow a company without making smart hires. However, you should invest aggressively to expand your sales force only once you have found a successful sales model for your business.

  • Enterprise Sales Model — This model is the most complex one and is best suited for big companies. Enterprise companies usually need to engage both internal and external sales teams, along with the marketing department, in order to form new relationships with potential customers, close, and support clients along their purchasing process. This model implies strong customer service that stands in the form of technical support, and on-site problem-solving. Because of its complexity, the enterprise model has quite a high degree of risks and costs. However, it allows companies to acquire more customers and retain them for a longer period, so in most cases the value-added outweighs the cost.
  • Customer Self-serve Model — This model doesn’t require any sales activity, but on the other hand, the marketing team takes full responsibility for generating the revenue. This is typically done by raising product awareness, publishing content that targets the right audience, setting up automated sequences, streamlining the sign-up process, and generating new users. Your website and content initiatives are the main pillars of the sales process, as they guide the potential customers through the process and encourage them to sign up on their own for your product.
  • Transactional Sales Model — Typically, customers are wary of spending money on a product without having some interaction with the company beforehand. So, in order to build a strong relationship with your clients, your marketing and sales departments should team up to focus on lead generation and support the customer’s purchase process with content marketing techniques and strategies. The transactional model is a blended one, where companies use aspects from a sales-led approach in combination with a product-led approach.

2. Fuel your content marketing efforts

Many SaaS companies don’t have content marketing embedded in their culture. And it’s true, it can take a lot of time and effort to create a content plan, develop relevant pieces targeted to a specific audience, all while monitoring what the industry is saying.

3. Retarget your visitors

An important aspect that should not be overlooked in your SaaS growth strategy is retargeting visitors, which is one of the key lead nurturing tactics. Your website visitors don’t often convert on their first visit. Some of them choose to do some further research on the product or service that they want to purchase, look for other options, and sometimes they might put off their decision for a significant length of time. By implementing a good retargeting campaign, you can stay at the top of your visitors’ minds, have them revisit your website, and eventually convert them into paying customers.

4. Have you thought about growth hacking?

You knew this one had to come up at one point or another. Growth hacking is not only a buzzword but also a proven way to help a SaaS business reach success very quickly.

Get your SaaS business listed on review directories

These days, customers are more likely to research your product thoroughly before testing it. And one of the primary steps they take when conducting their research is to consult reviews early on in their purchasing process, to make an informed decision. So, it’s safe to say that a crucial step in your growth hacking strategy is to list your SaaS business on some of the most popular review websites. This is a great way to build brand exposure and bring your customers to you.

Collaborate with influencers

An important aspect of your scaling strategy is to look for new ways and channels to reach potential customers. Influencer marketing is a great way to build brand awareness. Look for influencers and experts that represent thought leaders in your target market as they represent a great source of new leads. Collaborating with trusted influencers will help set your SaaS business in the limelight of your target customers, and build your brand reputation.

Provide customers with a smooth onboarding process

When it comes to SaaS businesses, customer onboarding is one of the most crucial steps in the customer retention process. The more complicated and time-consuming the onboarding process is, the higher chance that your users will give up on your product. To get your customers to stick around and reduce churn, you need to offer them a seamless and frictionless onboarding experience that helps them succeed with your product quickly and gets them to come back for more.

Create intuitive landing pages

As the name suggests, landing pages are the first pages that your visitors land on whenever they reach your website. They’re one of the first pieces of information that they access. Having complex landing pages on your site will most likely distract your potential customer’s attention from your product and goal. It’s imperative that your landing pages are intuitive, focused, and very narrow in their intent. Some best practices that you can use when optimizing your landing pages include removing the navigation to concentrate the visitor’s attention on a single call-to-action. Minimize the distractions by only leaving the content that drives the user toward taking the action you want them to take.

5. Keep your customers insanely happy

First, always track your churn rate and your Net Promoter Score (NPS). These metrics show how healthy the relationship between your business/product and your customers is. Companies with a customer-focused strategy have always been more successful than those focused inwards, on their product.

6. Build a referral program

Turning customers into advocates is the way to go if you want to scale your SaaS business. You can gain advocates with custom outreach efforts, such as a personalized video or email, or even engaging in real conversations with your clients.

7. Improve your pricing

Your pricing should be a matter of continuous improvement and optimization, so don’t treat it like something that shouldn’t be changed during your growth journey.

  • Cost-based pricing — This strategy involves adding up the cost to bring a product or service to market with your target profit margin that you are aiming to achieve in order to determine the price.
  • Value-based pricing — By using this strategy, businesses consider the market value of the product or service they are selling as the starting point. When pricing on value, the 10x Rule is recommended, which means that the intrinsic value supplied should always be ten times its perceived cost.
  • Penetration pricing –Using low or below-market pricing when launching a SaaS business is a strategy used by many companies to quickly enter the market and gain a quick advantage ahead of the competition. But beware, this strategy only works for a brief time frame, as it’s only viable if you have the necessary resources to delay profitability until you can convert upsells and cross-sells down the line.
  • Premium pricing — This pricing strategy is reserved for luxury brands, as the premium pricing relies on the company’s perceived quality and brand awareness to charge above-market prices.
  • Promotional pricing — With this strategy, a SaaS company sets a high initial price and slowly lowers it over time. This strategy works well in technology fields, where people are usually willing to pay for a premium plan to be among the first to adopt new technology, product, or service.

8. Conquer international markets

Selling internationally is an important milestone in the growth journey of your SaaS business. First, do some research to see which markets are worth giving a try. Then, figure out the shopping behavior of the people who live in the countries where you are planning to sell. Think about the payment methods you should offer, what shoppers are looking for when researching a product online, which support method they prefer, and so on.

9. Automate your business

Another tip that can greatly improve your SaaS growth strategy is automating your business as much as possible. When owning a SaaS business, the most crucial aspect of your scaling process is time, and how you can divide your time between tasks to provide stellar services.

  • Automation tools that can help you trigger workflows for communication with your customers, as well as internal processes
  • Email marketing automation tools, which trigger emails to your customers
  • Sales forecasting solutions
  • Project management
  • Accounting and invoicing tools
  • Help desk tools with automated features

10. Scale your way through omnichannel support

A great way to retain your customers is by providing them with a high-quality omnichannel support system. An omnichannel support system implies offering your customers assistance and advice across an integrated network of devices and communication channels. In this manner, the customer experience that you provide to your buyers is seamless and consistent throughout the whole process, regardless of the channel or medium they use to get in contact with your company.

  • Increasing your conversion rates and customer satisfaction. By storing all the information and paths that your customers take in one place, you can easily analyze your customer journey map and better meet your customer’s needs.
  • Saving time for your team and customers, as it unifies many points of contact into a single platform, allowing the information to flow from one channel to another.
  • Receiving complex customer insights through channels such as social media, forums, or chats. This way, you can find out how your customer’s needs differ across different channels.
  • It allows you to stand out from the competition. As omnichannel support is still a practice that not all businesses use, offering your customers innovative services will most certainly help you build your way to the top-of-mind spot of your customers.

To summarize

Scaling a SaaS business is a matter of teamwork, making the right business decisions, and allocating resources the right way. Always keep an eye on your metrics and don’t wait too long to make adjustments.

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2Checkout (now Verifone)

2Checkout (now Verifone)

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2Checkout (now Verifone) is the leading all-in-one monetization platform for global businesses built to help clients drive sales growth across channels.