How to Carry Out Your Market Research in 2024?

With almost everything around us being offered as a SaaS solution, We often hear that the era of SaaS companies is upon us.

SaaS stands for Software as a Service, which refers to any service or product delivered through an online platform. Companies like Netflix, Amazon, Dropbox, Slack, HubSpot, Adobe, and many others fall under the SaaS category. They provide various services, such as entertainment, project management, e-commerce, marketing, and design.

The spotlight is on how these companies reach their target audience and sell their SaaS products to generate profits.

1- Pre-building stage of the SaaS Marketing Plan

By setting short-term and long-term goals, setting clear marketing targets is crucial in creating a successful SaaS marketing plan.
Example: You might set a short-term goal to get 500 new sign-ups within three months after launching your marketing campaign. This will help you gauge the initial traction of your SaaS product and understand its appeal to your target audience.

2- Set up a deadline for the goals

Setting up deadlines for your marketing goals is about the outcomes and the process itself.  By assigning specific time-bound targets to each marketing aim, you create a sense of urgency and accountability within your team.

3- Niche down your audience

This means narrowing down and focusing on a specific segment or subset of the market that would be the most interested in. Also, the subset that can benefit the most from your Software as a Service (SaaS) product.

4- List your resources

Take stock of the financial resources to invest in your marketing plan. This includes your allocated funds for marketing activities. These include advertising, content creation, events, and promotions.
Be mindful of spending, ensuring you get the most value from your investments.

• Start by collecting data through customer interviews, surveys, and market research. This will provide valuable insights into your target audience’s characteristics, preferences, and pain points. It’s also essential to consider negative buyer personas. These are representations of individuals who might not benefit from your product or service or are unlikely to become customers.
• You should flow down the SaaS marketing funnel to align your content with your buyer’s journey. You can do this by following its four stages – awareness, consideration, decision, and retention.
• Try using a variety of marketing tools for SaaS available to support different aspects of your marketing efforts.
• Referral marketing software to incentivize customers to refer others to your service or product.
• Account-Based Marketing tools are specifically designed to target and engage individual accounts or high-value prospects on a personalized level.