Updated: Sep 3, 2021
Let's not overcomplicate marketing. When talking to marketers, everybody is talking about the next shiny platform that is pouring new leads to their website. Now the new shiny thing is Clubhouse (I absolutely need an invitation by the way!). However, is this the right approach?
I always was and will be a fan of simplicity.
Marketing can become overwhelming with different platforms and channels growing fast. It soon becomes like a race. If you are late on a platform, you seem to lose the game.
Especially for SaaS businesses, which mostly rely on online traffic to grow.
Here in this blog post, I like to discuss an approach in which you only need to focus on 2 channel platforms at the same time. No more, no less.
This seems a bit like a sith lord rule. But it worked!!
So let's dive deep.
My assumption is you are a SaaS business that may or may not have a dedicated marketing team or relying on the founding team to drive marketing strategy and execution.
You will be lucky to have a budget to manage marketing agencies as well to delegate the execution of your campaigns.
My argument is no matter where you are in the maturity matrix which I illustrate below, you need to focus only on two metrics.
Let's discuss your maturity level first.
Depending on your maturity level and the resources you have, obviously choosing and moving to more channel platforms is a good move.
Big business, more channels
This is expected to happen as common sense. As your business grows and becomes bigger, investing in new channels that are important for your customers is absolutely a must. Investing in a new piece of content that first, increase your traffic should be a priority. My suggestion is to always look for a new channel and start a test/learn cycle.
Big business, fewer channels
This means you are deliberately staying focused on channels that are relevant to your customers. If your target market is 50+-year-olds, no point in investing in Clubhouse or TikTok.
Try to always improve on your proven channels.
Small business, more channels
This is dangerous. Many SaaS businesses fall under this trap. They think that the reason they are not growing or growing slowly is that they do not invest in more.
Sometimes and in this case, less will be more.
Small business, less channel
This is an ideal scenario for early-stage SaaS startups that seeking their first 100 customers. Keep focusing on few channels that make a difference for you and forget all the noise out there or taking advice from other sections of quadrants.
Now that we are clear on this, I want to discuss my other quadrant; metrics.
There are two metrics that you should be monitoring every single day: eyeballs and sign-ups.
All other metrics are irrelevant at this stage.
The number of likes, the number of people that are showing up in your online webinars etc is not crucially important at this stage.
Let's have a deeper look:
High eyeballs, high sign ups
You nailed it. Not much to do unless you want to consider new channels of marketing. Keep up the good work.
High eyeballs, low sign ups
This means there is something that not working with your landing page, website or messaging. Do A/B testing to figure out what resonates with your users.
Low eyeballs, high sign ups
This means what you need is more top of the funnel activity and getting more traffic your way. Consider new channels if you have resources or double the investment on your current channels.
Low eyeballs, low sign up
More work is needed. Sleep less!
Hopefully, with this framework, you get a sense of what to focus on and what to let go of! Good strategy.
Ping me on my social media and tell me which tactics is working for you.