Pandemic has already hit many industries. However, there are still big sectors of the market that are growing. The key questions, how to maximize this opportunity and win more clients.
SaaS is now playing a key role in SMB and also enterprise space. Many organizations either small or large are relying on SaaS platforms to manage their day to day operations. From a SaaS business perspective, there are some steps that you can take as a founder and entrepreneur to maximize and eventually drive massive growth to your top line revenue.
Especially now that everyone are preparing themselves for post pandemic life, these tactics and strategies can help you re establish your brand and re gain customer's trust which will end up as revenue growth.
Re evaluate your value proposition
This does not mean after each crisis you should change everything about your SaaS business. However, your message and tone of voice should reflect the reality of the society and what is happening in the world. Of course during this pandemic, you cannot have a loud pushy message. The message should be something around hope and positivity. Now the good thing about value proposition, is that it can be universal. So, this means you can rely on that for about 3 years and then you can think of changing it.
I changed my personal branding slogan to this:
Before pandemic, my slogan was: Helping SaaS Businesses Grow Sales Faster. Absolutely certain and solid language. However, this needs to be change as many businesses will not be able to grow at all.
Here you can explore how to tell your story in less than 280 characters.
This seems like a no brainer. However, I have seen SaaS platforms that are struggling to service clients outside of USA. Everything is organized around US time zone and the comfort of North Americans. Despite the fact that the business has customers in Europe and APAC, but normally those regions are excluded from the change management process.
Please don't. If you need to setup a new environment or another instance in another region so the performance of your SaaS increase, just do it. You can use this opportunity to do press release as well. Think of having a great foundation for your business globally so in case that you want to move to new countries, you just need to press the expand button.
Build data assets
Do not just rely on your internal data sets. There are tons of data sets outside of the business that can be leveraged to start looking at patterns. You also can think of becoming a thought leadership content and even share all those insights with your audience.
Combined with data visualization tools, this can be a great tool to build business assets for your customers and educating them with what's going on with the industry.
Integrate growth hack into your business
Growth hack can be a massive discussion when it comes to SaaS strategy. This topic can be the subject of a series of blog posts or even a book. In future I will put more focus on growth hack tactics on how to drive organic growth leveraging external and internal forces. However, for the sake of this blog post, you can think of hiring a growth hack consultant to help you identify new markets or unidentified oceans that can be monetized.
Here you can find a 1-pager marketing plan to start with and acquire 70 new clients.
Build 10x features into your product
Every SaaS vendor has specific 10x features as a killer value proposition that can help them close more deals. There will be specific things that you do better than competition. In general, your competition will copy you eventually. However, it is the matter of time and resource. By the time that your competition copy you, you already got market share and strong relationship with your clients. So, it will be very hard and harder for competition to beat you.
Houman Asefi is SaaS sales strategist, award finalist blogger and startup advisor, focusing on building and scaling sales organization and making sure companies achieve their targeted revenue.
Contact Info: Houman Asefi
Phone Number: +61 452 219 022