One reason your SaaS company may be underperforming in attracting customers could actually come down to marketing.
The traditional marketing technique, outbound marketing, encouraged businesses to blast their software on TV commercials, radio, print ads, and social media to anyone who would (or wouldn’t) listen.
Inbound marketing is a more targeted approach, where your software company focuses on segmenting your most loyal customers into groups with similar characteristics, business goals, and business challenges. These groups make up your buyer personas.
What is a Buyer Persona?
A buyer persona is a representation of the customer most suited for your SaaS business.
Knowing your buyer personas will improve you marketing approach because you will know where to reach them, what drives them to be interested in your software, and how to reach with them with content that draws them to your company rather than content they will find intrusive.
If you can do this successfully, you will not only gain more customers, but turn those customers into your best promoters.
Research Your Buyer Personas
As your company sells software to various businesses, you most likely realized you’re dealing with very similar groups of people.
These trends in behavior and characteristics will give you a vague idea of your buyer personas, but it’s absolutely essential to research with your marketing and sales teams and not rely on assumptions when developing your buyer personas. If those assumptions are off, the marketing approach will be off as well.
This will lead to wasted time, money, and energy for your company. It’s best to start out with one buyer persona to focus on and work your way up from there.
In a B2B strategy, a software company’s main buyer persona would be the CEOs, CFOs, CTOs, CIOs and other department heads who would benefit from your software offerings.
Now most software businesses know this much, but could you answer the following questions about your buyer personas?
- Depending on the industry,
- What software features are essential to running their business?
- Can you explain how your software would help them achieve their business, marketing, and sales goals?
- Can you explain how your software would minimize the challenges they face in achieving these goals?
- Have you consulted with your sales and marketing teams to further develop your buyer personas?
- What are their personal aspirations? Can your software help them achieve them?
- Can you foresee their oppositions to your software and come up with solutions to change their mind?
If you’re struggling to answer these questions, you may need to take the time to create buyer personas for your business.
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Developing a buyer persona will help you answer these questions and more.
The more you know about them, the easier it will be to draw in more customers, retain more customers, and help your company grow.