We know that it’s really hard to create a game-changing app, but the idea of marketing and selling something is even more challenging, right?
If you are looking for fool-proof SaaS lead conversion tactics and strategies that actually work instead of the generic tips flooding everywhere, then you’re at the right place.
5 Effective Strategies to Increase the Leads for the SaaS Business
These 5 tips on how to increase lead conversions for your SaaS business will help you grow in 2023:
- Get leads through customers
- The power of an instant demo
- Develop high-value relationships with Affiliate Marketers
- Upgrade your content in the lead generation funnel
- Generate leads through chatbots
If you are the manager, founder, or CEO of a company, and you have decided to grow to the next level. Or a marketing manager in charge of sending more qualified leads to the sales teams.
Let us tell you something. Most tech founders aren’t great at marketing. But, whether they love it or not, they got to sell!
1. Get Leads Through Customers to Increase Conversions
Do you know that the billions-worth of Dropbox grew 3900% with a minimal marketing budget?
Do not underestimate the value of a referral program. Simple referral-friendly rewards are the easiest way to drive Buzz marketing and the chain effect for your product.
One customer refers 5, and those 5 refer 10 and so on. However, referrals don’t have to be future discounts or instant pay-outs; they can be premium features of your product.
To create a referral program, make sure to:
- Make sharing a user-friendly experience. A simple and quick link option is easy and will work.
- Test it out with a few beta users to see if it is exciting enough. If not, make the changes needed and test it again before launching.
- Consider rewarding the referees as well. Hence, that will boost the “chain effect” that we just mentioned.
2. The Power of an Instant Demo for SaaS Businesses
Another way how to increase lead conversions is an instant demo. Not only you will be able to clarify any doubts for the prospect better, but you can also chat and answer queries, and this is a way to showcase your customer support. The better you serve your clients, the more leads you would generate.
Creating an instant demo might sound like you will need a complex set up, but you can do this by simply sharing your desktop or mobile screen with your lead. Let us show you how this is usually done:
- First, sign up with screen-sharing software.
- Enter the details of your live agent who will handle the demo call requests.
- Then, upload demo videos to the software.
- Your agent will be notified to handle the call when the customer clicks on the demo.
3. Develop High-Value Relationships With Affiliate Marketers
It is the “lite” version of account-based marketing where you partner with SaaS affiliate marketers like bloggers, YouTubers, and industry experts who promote relevant products on their platforms in exchange for a commission.
Amazon generates more than 10% of its sales from affiliate marketers!
The power of affiliate marketing for eCommerce or a SaaS business is that you can get a significant number of leads in no time, and only pay if you get sales. How awesome is that? Yes, there’s nothing to lose with this tactic. It is exactly why many higher education institutions run online courses affiliate programs to get existing students to refer new students for their programs – saving significantly on their marketing budget.
SoundStripe, a royalty-free music company, and their partnership with PartnerStack is another success story. The partnership helped SoundStripe to drive an additional $ 1 million in revenue within just 18 months, and now it is an integral part of their marketing.
For a successful affiliate marketing strategy, here are some tips:
- The make-or-break factor is the reward, so make sure to offer a generous one.
- Consider offering bonuses to top affiliate marketers.
- Offering special discounts on occasions is a win-win for all.
4. Upgrade Your Content in Lead Generation Funnel
Let’s start by saying that people hate getting sold to. But, if you provide help and a solution to their problem in advance, then they may be more willing to buy your product. For you to do so, you will need a content upgrade. What does that mean?
Offer a valuable resource that your prospects are more likely to be interested in, within the original content, in exchange for their email. For example, one of the SaaS companies that absolutely nails this strategy is Sumo.
So instead of the traditional content lead generation funnel that goes:
- Product pitching as a solution
- Get leads
A content-upgraded one looks like this:
If you are unsure about how to execute the right content marketing strategy for your SaaS, you can always look out for external help. SaaS marketing agencies have the expertise, and with that, it will help you grow your SaaS business in the long run.
5. Generate Leads Through Chatbots
Streamlining the sales and customer support process with pre-prepared answers and solutions to common questions helps you: generate better quality leads, provide personalized support, and thus, increase conversions through instant conversation.
A case study about the Intercom live chat app showed how a two-person SaaS startup was able to make a 60% more revenue with 9 out of 10 high-value leads by using chatbots.
By applying this strategy, you don’t need to be online 24/7. You can instead, mark the live chat as offline, and in this case, people will leave their email addresses in the chatbox, and you can get back to them later.
Frequently Asked Questions:
Why is lead conversion important for a SaaS business?
Lead conversion is crucial for a SaaS business because it directly impacts revenue and growth. By converting leads into paying customers, you can increase your customer base, generate more sales, and improve the overall profitability of your business.
Are there any common pitfalls to avoid when trying to increase lead conversions?
Yes, some common pitfalls to avoid include:
- Overcomplicating the sign-up or purchase process: Keep it simple and minimize the number of steps required for conversion.
- Failing to address customer concerns or objections: Anticipate and address any potential concerns or objections that leads may have about your product or service.
- Neglecting to nurture leads: Build a relationship with leads over time
To sum up, no one is born as a marketer. Getting higher lead conversions for your SaaS business doesn’t have to be a struggle. However, start to implement these tactics, and you’ll be surprised by how things take off from there, in no time, you will have a few hundred clients.