Defining customer acquisition strategy for SAAS Companies

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Defining customer acquisition strategy for SAAS Companies

Software as a Service (SaaS) Companies are at constant upsurge, especially because of the increasing needs for customized software. Most of them boast extraordinary growth rates because of their efficient customer acquisition strategies. It is the first stage of the funnel that deals with the visitors on their web page, while the next step is activation that is when the users actually start to use the product/service that SaaS companies provide.

 In simple words, customer acquisition is basically generating new visitors for the website, does not necessarily mean they need to start using the given product. I know ultimately the main focus is to sell your product, but there’s no escaping the first step of ‘acquisition’ and the hard work it demands.

 For the same purpose, we have created a pre-prepared list of certain essentials which would help you to travel that extra mile when it comes to customer acquisition:

Identify your market fit

There might be a lot of contradictions regarding this point saying you should acquire customers as soon as possible even before that is your product is ready. We agree! At this stage, it would only help you validating your idea and product instead of increasing your customer base. Once you are through this stage and have successfully identified your target market you can shift your focus to customer acquisition.

Start establishing your Customer Personas

The whole idea behind taking this step is to narrow down or group in your potential buyers in one segment. This would give you a closer insight into your target segment – especially in terms of geographic, physical or psychological characteristics. There could be arguments that it is very silly, to give names, photo and define other characteristics of a group of people, but trust me, it makes your life easier in terms of customer acquisition since you would immediately know who the customer group your prospect belongs to. And that, in turn, helps you draft better customer acquisition strategies.

Identify, Assess and Access the most trafficked and targeted sources

The usual norm is, that if you pick the popular traffic sources, it would save you from all the hard work, but the real scenario says something else – Not every traffic channel will deliver visitors who can convert. It is more of a procedure, and experimentation – the reason why it reads Identify, Assess and Access. That is, first you need to identify the source, then analyze every aspect of it before you finally access it. Also, if you don’t want to be one more amidst the crowd, don’t just blindly follow the herd. Do your own research and carve out your niche, even if it's about identifying the traffic sources.

Create your own customer acquisition strategies and different funnels

There are more chances than not, that some will sign up for your services, most will not. So, you need to entice your own personalized strategies to earn your clients. This is what we are referring to as funnels. As a funnel looks, broad on its mouth and then narrowing down to its end, is the basic idea behind it. It represents, that as you start, you will have a larger prospective customer list, out of which only a few would convert (that is towards the end). For instance, if you have organized free subscription to your visitors, you will have a larger customer base but as soon as you add a price to it, you will start losing clients.

(Or, Simply) Outsource your customer acquisition department to experts

In any business, you need to look at many different aspects rather than just customer acquisition. And let’s just admit it, customer acquisition consumes a major chunk of your time hardly leaving you any window to concentrate on other important departments. This is where client Acquisition companies like Ramped come into the picture – you could simply handover this arduous task in the hands of the experts and take over other transactions that demand your immediate attention. Time saviour along with expert service, certainly a win-win from all aspects.

 

Before I wrap up the article, here’s my final piece of advice – research thoroughly and critically analyze every aspect of your market and target consumers. Before you head on to the crucial decisions of customer acquisition, you must know everything about your industry.

 

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