Check off these boxes to ensure your paid search marketing strategies are on the right track for your software as a service (SaaS) brand.
We’re calling it now: “pivot” is the theme of business in 2020. That goes for digital marketing, too. Across industries, customer needs and wants are changing. If you haven’t revisited your strategy playbook, now’s the time.
Luckily, SaaS teams are often more familiar with ever-changing goal posts than most. Whether B2B or B2C, SaaS products and platforms play a huge role across many industries, from finance to project planning and everything in between.
As your SaaS company adapts its marketing strategies to the changing times, there are a few key areas to focus on to make your paid search campaigns more effective. As one of the most effective digital marketing tactics in terms of ROI, this strategy can help ensure your SaaS company is set up to forge ahead. Here are some expert insights for how to do it right.
1. Aim for the right type of lead volume
Of course, there’s a drastic difference between increasing your SaaS lead count and attracting high-quality leads. If more people are clicking on your ad but there’s no increase in on-site conversions — or, ultimately, sales — you know adjustments need to be made. (This is especially crucial because you’re paying for each click.)
Sometimes, aligning yourself with well-known clients or customers can encourage higher caliber prospects to jump on board. Consider using recognizable industry names from your portfolio of happy customers in ads or on landing pages. This, paired with any industry awards, certifications or accolades, can boost your credibility and authority in the industry.
2. Focus on the facts
As a SaaS company, successful sales often rely on how effectively you demonstrate the value of your product — and how it stands out from your competition. When you know the challenges faced by your prospective clients, you can cater your ads and content to the product features that will be most relevant to their needs.
Showing metrics is also a good way to prove your offering’s worth. It’s one thing to say you can save a company money, for example. It’s quite another to say you can potentially save them at least $50,000 — and have the data to back it up.
3. Know how to properly use LTV
Too many SaaS marketing agencies focus on lead volume. But especially with the longer sales cycles that tend to come with SaaS, it’s crucial to be calculating lifetime value (LTV). This figure can be used to make critical decisions, such as how much you pay for user acquisition and how your target through paid search ads. This is why lead scoring, as we’ve mentioned before, is crucial for a strong SaaS marketing strategy.
Hubspot explains you can determine lifetime value by calculating the average purchase value, average purchase frequency rate, customer value, and average customer lifespan. Ultimately, multiplying customer value by the average customer lifespan should give you your LTV. Once you have an accurate number, compare that with your customer acquisition cost (CAC) to make sure you’re getting the ROI you want.
4. Understand what constitutes quality conversions
Speaking of LTV, your goal should always be to create clients for life. Because it costs money to acquire new clients, the more clients you keep, the less it’ll cost you (no surprise there). Plus, an increase in client volume coupled with a decrease in cost per acquisition (CPA) can save you serious money.
Understanding this can help you market with the long game in mind. Big players and key clients will sometimes visit your website or contact you with questions many times before deciding to make a purchase, but that type of client can be more lucrative in the long run.
Pro tip: Investing in remarketing is a great way to keep your brand top of mind with those who are already aware of your business but maybe weren’t yet ready to buy the last time they interacted with your site.
5. Consider your landing page your lifeline
A landing page is where a user ends up after clicking your paid search ad. This page needs to present the purpose and products of your company clearly and convincingly. It should give viewers a reason to take an action, whether that’s downloading a piece of content or filling out a form.
One way to create landing pages that offer a wow factor is to use impressive numbers and statistics as proof points. Think of it as walking the walk — not just talking the talk. For example, stating that you can save clients up to 50% or cut their customer service calls in half (and even offering a past customer example) is more convincing than saying your product “utilizes the latest technology.”
Along with potentially incorporating metrics, visual aids can be effective at drawing attention to the desired call to action (CTA). Using charts, diagrams and grids can allow you to more clearly display how you’re different from your competition in terms of:
- Features and benefits
- Contract or subscription type
You can also mention specifics, like cost per user and “freemium” models. This helps attract clients’ attention and makes it easier for someone to familiarize themselves with your offerings before making a full-on purchase decision.
Pro tip: Don’t be afraid to target your competitors and their keywords with your SaaS paid search. This helps increase your exposure and gives you a chance to highlight what sets you apart from the rest, whether it’s a certain feature or a special offer.
6. Study your ideal client and current clients
If your search marketing strategy isn’t working as well as you’d hoped, you may have misread what matters to your target audience. Especially for technical and niche business, keyword targeting is crucial.
Due to the hyper-focused nature of the lingo in some of these industries, one keyword may have multiple meanings, some of which may not apply to your business (like event planning software for businesses vs. ticketed event platforms). It can be helpful to go back through and make some of the following changes:
- Adjust display times
- Switch up keywords
- Use more compelling ad copy
- Tailor by language and location
- Add negative keywords to your paid search campaigns
Sometimes all you need is a display campaign targeted to a very narrow audience to start attracting the right kind of clients. When you choose to go this route, however, it’s key to pick your placements carefully and make sure they’re on relevant sites.
7. Leverage long-tail keywords
When it comes to paid search marketing, longer search terms often mean higher intent. Think of it this way: someone searches “blender,” and someone else searches “Vitamix black 5200 standard high performance blender.” Who do you think is more inclined to make a purchase?
The same goes for SaaS. Going after more relevant, long-tail keywords not only targets those with higher intent, but it also snags those who are potentially in the “research” stage of the funnel, which can be just as valuable.
8. Aim to educate
While you’re certainly aware of the benefits your products and services offer, you have to assume prospective clients aren’t. That’s why educating your audience should be a big focus in your digital marketing strategy. You can do this through leveraging content like:
- Video tutorials
- White papers
- Case studies
Offering educational content not only shows your clients and prospects that you genuinely want to help them solve problems, but it illustrates that you’re a thought leader in your space as well. You can offer this content via your paid search ad or on the landing page to get interested leads clicking around your site.
9. Stay true to your brand
Using a variety of simultaneous campaigns and platforms is often a strong approach, since most viewers don’t become clients after one touchpoint or interaction. But even though you’re using different ad channels, your message and mission should be consistent across all of them.
Analyzing your data through Google Analytics or your CRM can highlight typical user patterns. This lets you focus your efforts on the best channels to increase ad effectiveness. When you know your standard user goes from an ad click to remarketing to white paper to a YouTube video before converting, you can budget better.
10. Look beyond Google Ads
There’s no denying that, by and large, Google is the top search engine around. But that doesn’t mean others, like Microsoft’s Bing, are worth ignoring. In fact, Microsoft Advertising makes it easy to export your Google Ads campaigns to their platform.
Not only that, but you could see better results with a lower average cost per click (CPC). Depending on your target audience, you may even find less competition on the Microsoft Ad platform, which includes those searching on the Bing, Yahoo, and AOL platforms.
As you talk through your paid search marketing goals and strategies, you may find that a SaaS marketing agency is what you need to take your program to the next level and leverage ideas you might not have thought of before.
For example, you may achieve a lower CPC when you push content downloads and assets and then follow up with an email or retargeting instead of focusing solely on free trials and demos. Whether you partner with pros or keep things in-house, the above best practices will set you up to craft winning paid search campaigns for your SaaS company.
This post has been updated and was originally published in August 2019.