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10 SAAS growth hacking strategies and ideas from Square

By April 29, 2018 No Comments

SAAS which basically refers to the Software as a service is a software distribution system. It mainly aims at providing the higher growth rates to your company. In this model, applications are made available to the customers over the internet. These applications are hosted by the third party provider. The SAAS is mainly an important part as well as the category of the cloud computing.

How SAAS helps?

It surely reduces the needs for any organization or company to manually install and run any of the application in their data centers or the systems. This anyhow helps you to cut down the expenses of the hardware acquisition, maintenance as well as the provisioning. It also helps you out with the installation and support along with the software licensing that too at a minimal cost. There are also many other benefits of the SAAS model are mentioned here. These will surely help you out to get a better understanding of the whole concept.

The flexibility of the payments

Customers pay for the SAAS services on a monthly basis. This helps them to get rid of other additional expenses like additional supporting hardware and the software installation. This helps the business profiles to get more and better predictable budgeting. You can anytime end the services.

Scalable usage

The SAAS is basically a cloud-based service. This offers all of the customer high scalability as per requirement or the demand. Also, it allows the customer to decide the feature they want to access. You can access fewer or more services along with gaining the access to get the features on demand.

Automatic updates

No matter how old is your software you can always rely on it. As SAAS easily offers you the automatic update for your software rather than having to purchase a new one. Other than automatically performing updates it also helps the customer with the patch management. This anyhow helps in taking down the burden off IT staff’s shoulders.

Accessibility and persistence

The main problem that anyone faces with any of the application is the difficult access. But this problem has a reliable solution for the SAAS application. Since this application is easily available on the internet you can access it easily and take the delivery. It can be accessed at any possible location all that is required is just a device that is internet enable.

Any of the organization can easily integrate with the SAAS application. This integration can be done with the help of the application programming interfaces. This will allow any of the business to write its own tools and integrate these tools with the SAAS offerings with the help of the API’s that are provided. There are SAAS applications available for different business technologies.

10 SAAS growth hacking strategies and ideas from Square

As we all know that SAAS is one of the most amazing technologies that are been used in the business world and so is the SAAS growth hacking. This buzzword is what everyone is talking about nowadays. These hacks surely help you out with the growth of your business and also acquire more users as well.

Building the list of Email subscribers

To gain excellence in the SAAS application it is extremely important for you to go with a massive list of the Email subscribers. Email is known to be an extremely effective method that can easily help you promote and create a market for your SAAS Company.  Subscribing the Emails will provide them the newsletter on the regular basis and they will be kept keenly interested in your business. Email market has been said to be an exceptionally excellent way for your SAAS Company growth. It surely is one of the most used growth hacks at the present time. one method that can easily help you to get more Email subscribers is to build your homepage as an Email form and gather the information about the customer.

Some of the strategies to help you get more Email subscription are:

  • Promotion of any of the online contests
  • Blogging with some of the guest bloggers
  • Creating any of the lead gen offers
  • Using the facebook page of the company to collect Emails from the users
  • Promotion of offers to be done on Pinterest
  • Build the YouTube channel of your SAAS company
  • Landing the pages

Set up a referral program for the customers

Referrals are known to have increased the signup and users of the SAAS companies by approximately sixty percent. This method has surely proven to be of great help that too without having to spend much on the advertisements. This method works by making the existing users happy and letting them spread good words about your SAAS products. The creation of the customer referral program is known to be one of the topmost growth hacking techniques and it surely has proven to be highly beneficial. One main reason behind the working of this method is that people tend to hear the opinion of other users than to just believe on the advertisements.

Some of the major referral channels are

  • Testimonials
  • Hearing from a friend or family
  • The opinion of the influencers
  • Reviews and opinions of the customers that are posted online
  • Publication of the news

Piggyback on the free marketing platforms

Leveraging on an already established free marketing platform can surely help you out in a great manner. Just find out any of the free marketing platforms that have the same kind of users as you want. Promoting on these kinds of the websites can really help you out in the marketing and expansion of your SAAS business. This will also anyhow help you increase the number of users that you have. There are a huge number of piggyback platforms available online that is free as well as to be relied upon. Also, contacting the other users of that platform to post on your platform can really help out in increasing your users.

Embracing the exclusivity

The exclusivity is one of the most powerful growth hacking techniques to be known; but such a pity that it is most often ignored by the people.  People tend to create and replicate the product as some that are already famous. They often forget that what user actually wants is some change and uniqueness. That is the reason that being exclusive will surely help you out with the growth of your business. Being exclusive will make you stand out from the others; so that the users can clearly see you and experience the services that you have in store to offer them. It is better to start off with some special groups and target them instead on focussing on each and every person. Save your time, money and energy and aim at creating users first instead of directly competing with the competitor companies in the first go. Exclusivity provides you the best opportunity for creating a market for yourself and taking away some of the users from you competing companies.

Giving away money to the users

If users will see the benefit in using your product they will automatically start using it without any further delay. There is how giving away money helps in promoting your business. If someone is going to tell any friend of theirs about the awesomeness of the company they will do it with efforts if they are given money for this. Giving away money to the users is also a way to show them that you are making them a part of their company and not just any user. Instead of spending money on the advertisements that also do not have any assurance of a guaranteed result; you should rather invest in your customers and make them happy. These bonuses are a great way to get more customers and play an extremely important role in the growth of your very own company. This method is in some manner similar to the referral codes but somehow totally different as well. There are a huge number of companies that used this method and gained a lot of benefits in return.

The power waitlist will help

This growth hack technique is the most useful for the people who are just going to start their SAAS start-up. Building a wait list for your product can really do wonders for its growth and anyhow help you to be the market leader with your product in no time. It easily helps you out to increase the users. The waitlist means that the users will be informed and notified of the product launch as well as any major activity that will be taking place in that particular SAAS company. There are many top-ranked companies who have used this technique. By using this technique you can stay in touch with your users and can remind them of your existence time to time in order to keep them connected.

The publication of the high quality content

Publishing the relevant content is one of the most amazing strategies that can easily help you out with the growth. But make sure that the content you are posting should be high in quality giving no chance of complaint to the customer. Content making is known to be the best long lasting strategy that will help with the growth of your SAAS startup. The content that you post is meant to influence the users as well as the other people in order to show an increase in the number of users that you have. This strategy is also known to influence all the other strategies as well. It will also help you grow the user base of your SAAS Company.

Some of the other benefits of this growth hack strategy are

  • Improves the SEO of your company in order to help you get new inbound links.
  • It also helps you get the source material to run your social media campaigns.
  • It helps you built the new relationships with some of the other brands who are working in the same field as yours and have the same niche.
  • It also helps you to get more Email signups for your website.
  • It consistently attracts new traffic to your website.
  • It also helps you build your reputation among the prospects and market
  • It influences all the conversions that are taking place on your website.

The content marketing technique will help you out in every possible manner and show you the effective and the best possible results. Also, it is not at all difficult for anyone to do the content marketing as it can be easily done without any great efforts.

Identify the growth engine

For making your company one of the topmost one and to make it excel you first of all need to identify the right growth engine. Basically, there are three types of primary growth engines Viral, Sticky and paid. You need to determine the engine at right time. This can be easily done by the Customer Lifetime Value that your company has. Each of the engines will surely help you out with prioritizing the tactics and also in making them feasible for serving the driving adoption.

Show the customer user base

You need to pay specific focus towards this point. No customer is ready to use the newly built application. That is why it is extremely important for your company to show that you have at least some user base. This will have an influence on people’s mentality and make them use your SAAS product.

Take a note of people’ needs

Keep in mind to build a product that people actually needs. This will help you get a larger customer base. Investing in something that people do not need at all is only a waste. That is why it is recommended for you to run the research before investing in any such thing. You can even take a short time period for yourself to validate.

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