5 Real and Actionable Tips to Start a SaaS Business from Scratch
Insights From Mettl Company Insights
1.How to grow a SaaS company with a zero marketing budget?
The business connections that you build over time are going to be the deal breaker. First and foremost, you must do prior background research about your go-to product market and the type of companies that you are looking to target with your product line. Only when you know the target market and companies can you zero down on the right connections to market the product in the right way. The idea here is, your business connections are precious and serve as a foot in the door; which is more effective and powerful than any marketing method or channel. The way an established influencer can vouch for your product and grow your business, no marketing method can in the initial stages when you look to start out with zero or minimal marketing budget.
2.Crafting your SaaS sales strategy to sell to small businesses
Although most business think on the lines of problem solving to appeal prospects; you must think a step ahead. Apart from presenting your product as a solution to your customers’ problems; show them the larger picture and explain in what other ways your product can transform their life. Cases can include how a customer not only gets solution to a specific problem after using your product, but how solving that problem can improve other verticals of their life. Creative storytelling can strike an emotional chord and make all the difference in this case. Initially, you can leverage low-cost mediums such as blogs, Linkedin, active online communities and your business website to share that story. Join active online and offline communities in the space that your company aspires to cater and make it a habit to monitor conversations. Once you start receiving traction, you can gradually increase your marketing budget.
3.How much should a SaaS startup invest in sales and marketing?Simply go for the bootstrapping route. Remember that efforts can snowball over time, giving you incredible results. To start with, hire only person and wait for that person to become ROI positive. In other words, the person must be able to justify their cost with their own, independent actions and activities. Next, go for a “batch approach” and start hiring in buckets. For instance, you can hire 2 people in the next batch and after they show a positive ROI curve for a certain time; increase the batch hiring size to 3, 4 and so on. You only have to make sure that every employee in your batch is ROI positive before you move on to the next. It’s a highly scalable strategy that allows you to grow your business without having uncertainties about running out of budget. Start with a proven marketing channel that offers hire ROI and with time, experiment with new channels.
4.When should a SaaS startup split their sales and marketing?
Any SaaS startup begins with sales team who also happen to out on the marketing hat. Once you start growing and the sales person can no longer justify their role with the marketing responsibility on the side, you can split both the verticals to divide responsibilities and manage better focus.
Topics: Business and Startups