8 Ways for B2B SaaS Companies to Accelerate US Market Entry
SaaS businesses have gained popularity in many countries since the digital revolution began and most companies are digitalizing their operations. Although B2B SaaS solutions are needed globally, the U.S is the most profitable market worldwide.
B2B SaaS companies should focus their efforts in accelerating their market entry in the U.S. You should monitor and keep track of all the metrics for SaaS business operations that will contribute to your company’s growth in the U.S. There are many ways you can use to reach this goal but here are the 8 best methods.
Data-driven social marketing
Social marketing is an essential part of getting more visibility of the SaaS service you are offering because it offers the chance of being identified by millions of users. The task gets a little bit problematic when you are dealing with B2B businesses because you need to have a lot of data to do it successfully. For example, you need to be in social media channels being used by the targeted audience and to do so, data insights are required.
Simply Measured uses this technique by collecting data on customers intending to improve their social media marketing. Ever since the business adopted this approach, the company has grown very much in popularity by drawing awareness.
Michael Yardley, who works as the marketing head for Bestessay.com, an online paper service, says that to get your B2B SaaS established in the U.S, you should start taking into account social analytics and understand what they are. Social media can be leveraged in different kinds of methods to generate more leads and keeping customers happy. You can use this marketing method to firmly establish your role in the U.S.
The hosting infrastructure should be up to date
There are a lot of issues looming over the heads of B2B companies, and one is the reliability of the tool itself. The tool needs to be constantly available to customers with as little downtime as possible. Therefore, global companies that do not have their offices in the U.S might face bigger problems.
The latency can create a negative user experience for customers, which needs to be handled before it becomes a problem. For example, you might employ the help of local data centers to speed up the tool's latency and reliability. Depending on the problem you are facing, it is essential to audit the tool thoroughly to make wise decisions.
You only have one shot at introducing your B2B SaaS tool in the U.S market successfully so everything needs to be perfect. Therefore, you should also get help whenever needed or faced with difficulties to ensure that everything runs smoothly and perfectly.
Determining company goals and objectives
One of the most important steps in entering the U.S market is understanding the company's goals and objectives beforehand. You should set realistic targets that the business should reach as they enter the U.S market. Those goals and objectives might include having sales prospects or other milestones that indicate positive business growth.
Use those milestones and objectives the business has created to set definitive KPI metrics to monitor further progress into the strategy. Companies use performance metrics to identify how much value each customer brings to the business. You can also have a similar approach by defining the company goals right at the beginning.
Digital marketing experts at Essay writing service say that metrics offer more than just insight into the health of the business but also highlights the problems you might encounter. Therefore, if you study them well and in great detail, it can prevent the same marketing mistakes from happening again. You should have tools that track the progress of the SaaS tool to make it as effective as possible.
Conduct competitive research
No one knows the market you are trying to tap into more than your competitors that have been successfully operating for years. Therefore, spying on them can help you get a lay of the land and some guidance on what steps should ensue. For example, your competitors know all about the targeted audience because they have studied them for years.
Although you must research yourself, following the competitor's lead can result in cost-savings and a reduced implementation timeframe. Instead of trying to understand different customer personas all at once, you can figure them through identifying how the competition markets itself. You can use tools that let you in on the competitor's marketing strategy to identify their detailed plans.
Afterward, you can structure your marketing strategy using the data collected from the most successful competitors. That can compensate for the lack of inside information about the local market in the U.S and having little knowledge about U.S-based customers.
To make a strong entry in the U.S market, it is essential to have freebies and incentives ready to be offered to customers. That involves offering the SaaS itself for free within a limited timeframe and maybe with fewer features and capabilities. Once users test-drive the SaaS product you are offering them, it will be much easier for them to make a purchase.
If you're marketing a SaaS service to B2B businesses, you can give them a while to pilot the software for them to determine if the tool fits their needs. When they take up the trial, ensure that they receive the best experience possible to get more sales.
Ensure that there is sufficient customer support offered to them and that they understand the tool in detail by offering them a crash-course when they begin the trial. Businesses that have chosen to take up the trial version are strong leads that have manifested buyer intent and should be followed upon.
The B2B business community can be close-knit at times and have their networking channels and events. If you are not a member of their respective networking channels, it is much easier to get into their ear and market your SaaS product. It is a bit challenging if there is no way to directly communicate with those who are inside. Alternatively, you can just find one perfect customer that is part of the industry networking group. Pitch the product to them and if they start using and loving it, ask them to refer you to others. Probably the business owner will head to the networking group and start mentioning the product amongst other associates.
Alternatively, you can offer incentives for customers that refer the business to other customers like discounts on their monthly subscription. 56% of sales representatives mentioned that referral marketing is very important and should be implemented when trying to tap into the U.S market.
Paid advertising can be costly and as the demand for this marketing strategy grows, you can only expect it to more expensive. Therefore, you should not just advertise on a platform that does not try to help with cost-savings. Google AdWords is unique and can help you grow in popularity in the U.S at an affordable price. You only pay for the clicks received by the business website, making it very cost-effective.
Moreover, you can customize the advert to whatever your preferences are to get the maximum value of out the money invested in this strategy. Business owners can increase or decrease their budget at any given notice with Google AdWords.
You can experiment with different advertising strategies to determine the best one for the business to get a high return on investment. Allocating a generous budget to this form of paid advertising will have great results and that is exactly what you should do. That can help other client and businesses recognize that you exist, giving you the opportunity to one day develops leads easier.
Co-marketing is a marketing strategy whereby business owners join forces to create one strong campaign. The companies need to have business prospects that complement one another and the costs incurred when marketing the business are shared between both parties.
You can join forces with another business to try and get out of your marketing strategy and gain more popularity in the U.S. Ensure that both teams know what is expected from both parties and how the leads and revenue will be shared from the onset to avoid surprises.
If it is possible, you can also join forces with famous companies to reach this objective. For example, HubSpot partnered with LinkedIn as part of their co-marketing strategy and that has grown the business exponentially. You can also follow the same example by finding the best business to partner with that aligns with your business prospects.
The bottom line
These 8 proven methods can help businesses accelerate their growth in the U.S market. They have been tried and tested in this particular market and have proven to be very successful. Therefore, you have nothing to worry about except for planning your marketing strategy to incorporate the abovementioned tips and techniques. Once you have started implementing the strategies, it is essential to gauge the performance using KPI metrics.
Isabell Gaylord is a professional journalist, academic writer and editor working for professional essay writers, an online service that provides essays, thesis and dissertation writing service to students from all over the world. Her immense talent in researching the subjects she writes in, combined with her prolific writing skills, makes her a very successful writer.