Lead your Saas Company To New Heights with these 5 Clever B2B Growth Hacks
As the current business landscape continues to evolve and progress, it can be difficult to deal with changing customer buying patterns and increased competition. Therefore, many B2B SaaS companies are turning to growth hacking to achieve better results and increased growth.
Growth hacking is defined as the utilization of creative, inventive, and cost-effective digital marketing strategies to establish and develop a loyal client base, offer products and services to increase revenue, and gain brand exposure. Growth hacks often require minimal financial investments and usually bring significant results.
Growth hacks are especially useful for determining which marketing strategies are constructive and which ones are futile. Some companies may invest large amounts of financial and human resources in marketing strategies that require more funding than is profitable for the company altogether. Therefore, growth hacks can help B2B SaaS companies both improve their overall operations and reduce their promotional budget.
Growth Hacks For B2B Companies:
1) Repurpose Content
Creating new, high-quality content consistently can prove to be time-consuming and ineffective in the long run. Therefore, instead of continuously creating new content on a daily basis, B2B SaaS companies can create one long-form piece of content and subsequently share it on various communication channels and publications. This content can even be repurposed into smaller documents, infographics, and videos for social media platforms.
By repurposing previous content, you can reach an entire demographic of viewers that didn’t see it the first time. This means that your business can get the most value out of its created content.
2) Free Trials
Many customers are hesitant to subscribe to a SaaS platform unless they are familiar with the features it has to offer. By offering customers a free trial of the services your company has to offer, users will be able to gain insight into the benefits your business can provide, how competent your company’s customer service is, and how convenient your platform is in general.
You could also offer users a free version of your platform with a limited amount of features and capabilities; with users having to pay an upgrade fee to access the commercial premium version. This allows B2B SaaS companies to prove that they provide value to their users and allows users to become comfortable and familiar with the service.
This growth hack can even help increase brand awareness in the long run. Even if certain users don’t upgrade to the premium version of your service, they still might recommend it to other potential leads.
3) Referral Bonuses
Building trust is one of the most difficult aspects of closing a sales lead. However, if new users are referred by a devoted service user, they may be more likely to trust your business. You can increase the level of trust between new potential leads by offering existing dedicated users a referral bonus.
A referral bonus is defined as a paid reward for users that refer new people to your service. This will not only help your business increase its organic reach without creating new marketing campaigns but will also help motivate existing users to stay loyal to your platform. Customers obtained through referrals have a 37% higher retention rate than customers obtained organically.
4) Sharing on Social Media Channels
A large majority of your company’s target audience is most likely using social media. They also probably have their own personal network of viewers that may also be interested in your company’s products and services. Therefore, by asking your existing client base to share your business’s content on their social media platforms, your business can leverage each user’s personal network to target a much larger demographic.
You can encourage customers to share your content on social media channels by adding links to your social media accounts on your company website, creating automatic social media sharing buttons, and encouraging them to share content using a call to action text.
5) Email Marketing
Email Marketing continues to be one of the most effective digital marketing strategies available for B2B SaaS companies to promote their products and services. 49% of consumers stated that they would appreciate receiving promotional emails from their favorite brands and businesses.
Subscription-based newsletters featuring relevant and informative blog posts, updates about your business’s upcoming products and services, and available discounts are cost-effective and low-effort ways to attract loyal customers.
Therefore your company’s website should have integrated sign-up forms available for interested viewers that would be interested in receiving emails about your business.
Revolutionize Your B2B SaaS Company Using Growth Hacks:
There are a number of potential growth hacks that B2B SaaS companies can use to strengthen their operations, increase profitability and maximize revenue. These include repurposing pre-existing content for various different platforms, offering free trials for services, providing referral bonuses, asking users to share your content on their social media platforms, and taking advantage of email marketing.