Software as a Service (SaaS) has witnessed a boom ever since the evolution of cloud computing. Also, the leveled platform offered by the industry to the Small and Medium Sized Business (SMBs), which enables them to match the value propositions offered by bigger players, has added to its popularity. As many more SMBs and startups look to join the SaaS bandwagon and seize their share of opportunities, the challenge of constantly improving the conversion ratio is slowly getting tougher.
As SaaS products are easier to use and much more interactive as compared to the regular software products, the customers usually judge their quality and value based on some typical factors that are also unique. These factors can go a long way in determining the conversion ratio of a SaaS product. Hence, few tips need to be followed diligently to ensure the customers like and use your offering, and are discussed below.
Social Presence & Online Appearance
As mentioned, cloud computing allows SaaS providers of all sizes to compete on equal terms and target similar customers. Hence, customers usually rely on the look and feel of the product website to judge the operating standards of the provider. As it is a primary platform for all business interactions, the customers would incline towards a product that has a highly functional and attractive website with catchy phrases & CTAs. Also, it would have to provide all the product-related information they need with ease.
The browsing compatibility of the website across platform and tools combined with the accessibility it offers to perform a task, collectively account for its functionalism. On the other hand, a shabby and non-functional website would only make an awful impression on the prospect customers.
Similarly, popular social media networking sites can also be used effectively, not just to impress the visitors but also to keep them engaged. Testimonials posted by loyal customers along with high ratings, can always serve to make a positive impact on the new subscribers. Moreover, through appropriate link building and communication strategies, right prospects can be reached and targeted at the right time, which would help in maximizing the conversion ratio.
Most customers seeking a SaaS product are usually looking for a reliable solution to their unique issue. Hence, as a provider, if you’re able to help offer a resolution that is highly relevant to them, it would essentially be perceived as a benefit. Moreover, if you also enumerate the list of added benefits, which they could get as a loyal customer, it would make them much more interested.
In addition, if you can successfully give them enough reasons to buy from you, it would enhance the unique differentiation aspect of your offering. Together, these factors combine to make an attractive value proposition, which can play a huge role when it comes to boosting the conversions.
One of the ideal ways of convincing the prospects is to allow them to use your offering by offering free subscriptions. It could be for a limited duration, a limited number of members or for limited features. It could also be a combination of these. However, the idea is to let the customers use the product, which could entice even those with little interest. Consequently, if it works, they would be obliged not just to buy your product, but could even go in for a high-end version with more features.
Giving a full-featured free trial for an extended period can also make the customers addicted to your product, which in turn can put you in the driver’s seat when negotiating the final deal. However, this method can be tried by providers with deep pockets, while others can go with a mix of limited features to make their offer enticing.
Expert Pre & Post Sales Service
It’s a known fact that the cost of acquiring customers is always considerably higher as compared to the cost of retaining them. This is much more relevant when you’re offering software as a service because the success of your product depends heavily on the service you provide to your customers.
So, once you have made the necessary investment to attract new customers, you essentially need a competent customer service team to back it up. If prospects get a convincing answer all their queries about the product, it can go a long way in building their trust, and subsequently convert them into customers.
Similarly, once you have acquired the customers, it becomes all the more important to provide them with efficient service, whenever they need your support. A specialized team of service personnel providing omnichannel support can be a strategic asset. It would not only help in resolving the customers’ issues quickly and efficiently but also help you with retentions, as well as improving the brand loyalty.
Also, sending out upgrades and service packs at regular intervals to the customers to improve their operability would also enhance the customer experience. While there could be many more product specific techniques that can also help, these tips are ideally the tried and tested options that you can implement to maximize the conversion rates.