5 Tips How To Increase Lead Conversions For Your SaaS Business
We know that it’s really hard to create a game-changing app, but the idea of marketing and selling something is even more challenging, right?
If you are looking for fool-proof SaaS lead conversion tactics and strategies that actually work, instead of the generic tips flooding everywhere, then you’re at the right place.
These 5 tips on how to increase lead conversions for your SaaS business are for:
- You are the manager, founder or CEO of a company, and you have decided to grow to the next level.
- You are a marketing manager in charge of sending more qualified leads to your sales teams.
- You are a marketer who knows that the customer journey has evolved and who is looking for an effective marketing strategy to adopt.
Let us tell you something. Most tech founders aren’t great at marketing. But, whether they love it or not, they gotta sell!
And the good news is, by applying these 5 tips on how to increase lead conversions for your SaaS business, not only you will master the art of sales, but also, generate hundreds of high qualified lead conversions.
1. Get leads through customers
Do you know that the billions-worth Dropbox grew 3900% with a minimal marketing budget?
Do not underestimate the value of a referral program. Simple referral-friendly rewards are the easiest way to drive word-of-mouth marketing and the chain effect for your product.
One customer refers 5, and those 5 refer 10 and so on. Referrals don’t have to be future discounts or instant payouts; they can be premium features of your product.
To create the best referral system running, make sure to:
- Make sharing a user-friendly experience. A simple and quick link option is easy and will work.
- Test it out with a few beta users to see if it is exciting enough. If not, make the changes needed and test it again before launching.
- Consider rewarding the referees as well. That will boost the “chain effect” that we just mentioned.
2. The power of an instant demo
There isn’t a way to convert leads for your SaaS business at a higher speed than an instant demo. Not only you will be able to clarify any doubts for the prospect better, but you can also chat and answer queries, and this is a way to showcase your customer support. The better you serve your clients, the more leads you would generate.
Creating an instant demo might sound like you will need a complex set up, but you can do this by simply sharing your desktop or mobile screen with your lead. Let us show you how this is usually done:
Step 1: Sign up with screen-sharing software.
Step 2: Enter the details of your live agent who will handle the demo call requests.
Step 3: Upload demo videos to the software.
Step 4: When the customer clicks on the demo, your agent will be notified to handle the call.
3. Develop high-value relationships with Affiliate Marketers
It is the “lite” version of account-based marketing where you partner with SaaS affiliate marketers like bloggers, Youtubers and industry experts who promote relevant products on their platforms in exchange for a commission.
The power of this strategy is that you can get a significant number of leads in no time, and only pay if you get sales. How awesome is that? Yes, there’s nothing to lose with this tactic.
SoundStripe, a royalty-free music company, and their partnership with PartnerStack is another success story. The partnership helped SoundStripe to drive an additional $ 1 million in revenue within just 18 months and now it is an integral part of their marketing.
For a successful affiliate marketing strategy, here are some tips:
- The make-or-break factor is the reward, make sure to offer a generous one.
- Consider offering bonuses to top affiliate marketers.
- Offering special discounts on occasions is a win-win for all.
4. Upgrade your content in lead generation funnel
Let’s start by saying that people hate getting sold to. But, if you provide help and a solution to their problem in advance, then they may be more willing to buy your product. For you to do so, you will need a content upgrade. What does that mean?
Offer a valuable resource that your prospects are more likely to be interested in, within the original content, in exchange for their email. One of the SaaS companies that absolutely nails this strategy is Sumo.
So instead of the traditional content lead generation funnel that goes:
- Product pitching as a solution
- Get leads
A content upgraded one looks like:
5. Generate leads through chatbots
Streamlining the sales and customer support process with pre-prepared answers and solutions to common questions help you: generate better quality leads, provide personalized support and increase conversions through instant conversation.
A case study about the Intercom live chat app showed how a two-person SaaS startup was able to make a 60% more revenue with 9 out of 10 high-value leads by using chatbots.
By applying this strategy, you don’t need to be online 24/7. You can instead, mark the live chat as offline, and in this case, people will leave their email addresses in the chatbox, and you can get back to them later.
No one is born as a marketer. Getting higher lead conversions for your SaaS business doesn’t have to be a struggle. Start implementing these tactics, and you’ll be surprised by how things take off from there, in no time, you will have a few hundred clients.
Relax, Hustle & Grow!