Digital-advertising-spend by B2B marketers would surpass USD 375 billion by the end of this year. With new products and services being introduced to the market every day, you need all the help you can get from your marketing team to sift through the clutter and zero in on the right prospects. After all, it’s a big world out there.
When Exactly Do You Need It?
- You need to develop the right channels and optimize them for a longer period of time.
- You plan to expand your service portfolio (in terms of new products/services, regions served, etc.).
- Your company is already active in the B2B SaaS sector and you need to increase your conversion rate.
- You don’t have competent resources to achieve consistent pipeline growth.
- You’re planning to expand into a new demographic.
Or you’re probably at the beginning of a new, albeit somewhat vague, niche or vertical.
How to Proceed With It?
1. First and foremost, conduct a market study and thoroughly understand the dynamics of your sector. Try to find out your position in the market.
2. Make a list of target customers who have a genuine need for your products/services. For this purpose, conduct a preliminary analysis of their needs and behavioral patterns, probably with the help of a B2B software/tool.
3. Create a list of tactics and tools that could help you create and sustain demand for your product/service, and build out those tactics and tools based on available research (market trends, demographics, etc.).
4. Develop and execute the action plan. Evaluate the results, draw conclusions as appropriate, and return to the first step of this process.
5. Repeat steps 4 and 3 (in some cases) until your sales channels are optimized and your marketing budget is used efficiently.
6. Publish a report summarizing your findings, conclusions, and recommendations for future reference.
6 Tools to Use in Your B2B SaaS Go-to-Market Strategy
Depending on the business model and market segmentation, some of these tools may be more appropriate for some companies than others. This list is by no means exhaustive, nor is it intended to be considered in isolation. It’s only meant to serve as a guide and starting point for developing your own customized B2B SaaS marketing strategy.
With that said, here’s a list of tools you might consider using:
Perhaps the best free CRM software on the market today. HubSpot CRM is a comprehensive marketing automation platform that enables your sales team to generate more leads, convert those leads into qualified sales opportunities, and ultimately close the deal with them. The tool provides your sales and marketing teams with all the data they need to productively sell products/services and does a great job of it. You can use HubSpot CRM to:
- Monitor the effectiveness of your marketing efforts by combining sales intelligence and business intelligence (BI) into one system. For example, you can see which of your content updates are resonating with which audiences and which channels are working best for you. You can then optimize your spending on those channels accordingly to make the most of your marketing budget.
- Measure how productive each sales person’s pipeline is. For example, you can remove the least productive reps from your CRM.
- Run lead generation campaigns and measure the results. For example, if you’re using HubSpot CRM to generate leads, you can use the features of the low-cost lead under, say, $500 (called “latent demand”) to figure out how much market share they’ll give your company in terms of new customers.
Salesforce is a powerful B2B sales platform that offers a wide range of CRM, lead management, and automation tools to help you create more business opportunities at every touchpoint of the deal. Designed for small businesses looking to grow quickly, Salesforce helps you get to customer success faster by streamlining your business processes. As such, it offers:
- Lead management tools that help you convert your leads into business. For example, they make it easier to create email campaigns, send automated reminders, and measure the effectiveness of your lead management techniques.
- Data-driven insights to continuously improve your business operations. For example, it has an integrated database of more than 50 million queries that helps you forecast your key growth metrics so you can better meet your revenue goals and ensure optimal profitability.
- A team collaboration tool that allows employees to work with each other and share ideas for various projects related to growing the company’s customer base.
SEMrush is a comprehensive B2B SEO platform that measures the effectiveness of your online marketing campaigns in terms of their ranking and traffic. This is possible through a comprehensive analysis of your website’s backlinks and natural keyword rankings.
A rating of 8.9/10 on TrustRadius is certainly a testament to the popularity of this tool. A large part of this can be attributed to the idea of increasing website visibility in search engines, a facet that SEMrush excels at by providing a comprehensive search query knowledge base.
Some of the ways SEMrush can help you improve your rankings and drive traffic to your website are listed below:
- It has an organic traffic estimator that helps you estimate how much traffic each keyword will bring when used as a search term on Google, Bing, etc.
- It generates detailed analytics that allows you to see which pages are bringing the most traffic to your site and which are underperforming.
- You can track the backlinks pointing to your website and measure the quality of those links. This allows you to assess their impact on your online visibility.
- It generates a list of low-cost, high-converting keywords that you can use in blog posts, videos, or product descriptions.
More than 25,000 businesses use the power of Sprout Social’s social media management and optimization platform to build and manage their online presence and engage with customers on social media. This tool manages your social media conversations on major platforms like Twitter, Facebook, LinkedIn, Pinterest, Instagram, etc.
Sprout Social also offers the following features that can help you create a holistic marketing strategy:
- A social media listening tool that allows you to track mentions of your brand, products, and competitors across all social media channels. This will help you keep your finger on the pulse of industry trends and news affecting your business and your competitors.
- A keyword research tool that allows you to see how many times a particular keyword is used each month on Twitter, Facebook, Google+, etc.
- An engagement platform that measures the performance of each of your posts, with all the analytics needed to determine which posts are doing well and which are not.
Understanding user behavior is paramount to building a successful marketing strategy, and Mixpanel is a B2B analytics platform that helps you do just that. The company’s free version is built around the idea of collecting, analyzing, and leveraging data about web traffic. You can use it to track dozens of different actions on your website:
Here’s what you can do with it:
- Determine which types of user interactions affect your site’s conversion rate and measure your content marketing efforts.
- Break down user behavior into different segments to develop an effective strategy to increase conversion rates.
- Examine the data to find out if visitors are coming from a specific website or using a specific search engine – and which of them are more likely to make a purchase decision.
Appsflyer was named “Mobile Attribution Leader” in G2’s Spring 2020 report. The company’s mobile attribution and marketing analytics platform provides comprehensive performance measurement and a marketing automation suite to track the end-to-end funnel of users’ conversion journeys: from awareness to acquisition to in-app purchase or share.
Appsflyer provides users with a single dashboard to streamline their user acquisition, retention, and monetization efforts with all the necessary data to measure performance:
- Measure and analyze the performance of each campaign or ad channel across all targeting devices and geographies.
- Record the time it takes to acquire new users and how they interact with your app and website.
- Identifying the highest performing apps that can be used as templates to launch an app or website.
- Determining which of your campaigns will generate the highest customer lifetime value (CLV).
- Creating campaigns that target the users most likely to make a purchase decision on your app or website, using real-time market data to help you optimize your strategy for maximum revenue potential.
6 Tactics to Use in Your B2B SaaS Go-to-Market Strategy
1. Use Drip Marketing or Lead Nurturing Campaigns
Drip marketing is an automated email campaign. Such an approach allows you to:
- Not have to send the same email over and over again
- Send emails only when needed or when a new contact has signed up.
- Get valuable data about what people like and don’t like about your product
- Identify which segments respond best to which messages, etc.
2. Develop a Campaign Plan
These days, most marketing tools have a template to help you create your content and maintain email campaigns. HubSpot, for example, has a wide range of templates from which you can select topics and products that might be of interest to your target audience. This is important because, over time, you’ll know what works and what does not – what your customers want to hear.
3. Make Your Marketing Data Actionable
If you want to run an effective marketing campaign, you need to make the data actionable. The more actionable your data is, the better your chances of increasing conversion rates. In addition, you can use the data to determine which campaigns are successful and which need improvement. You can use this knowledge to optimize future campaigns.
4. Use the Right Medium
HubSpot has a huge list of tools you can use to reach your target audience. Some of these include social media, email, blogs, videos, search engine optimization (SEO), display advertising, etc. It’s important to know that your customers are more likely to engage with you if they like the platform you used to reach them.
5. Act On Your Customers’ Needs
As mentioned earlier, you need to make this part of your go-to-market strategy. So as a business, you need to make sure that your customer service and support staff are well trained in how to have different conversations. Also, make sure that you are available 24/7 to provide assistance. With the right tools, you can listen to incoming traffic and listen for customer issues.
6. Learn From Your Competitors
Analyze the strategies of your competitors’ marketing campaigns. Do they have more resources or better technology than you? How are they reaching your target audience, and what results are they getting? What are their weaknesses, and how can you use them to your advantage?
In a Nutshell
We live in a digital world where every click, tap, and swipe is tracked and analyzed. For this reason, a solid understanding of marketing analytics is critical to the success of any marketing strategy. In fact, it can be argued that if you have no idea what’s working and what’s not in your marketing efforts, you have no foundation for your strategy.
The good news is that it’s not that hard to learn the basics of marketing analytics. This way, you can develop a strategy that will make your business successful and help you achieve your goals faster and more efficiently.
Takeaway: Use marketing analytics tools like the ones listed to monitor your campaigns and get detailed reports on how your visitors are interacting with you.