The SaaS market is going crazy.
Like, 17.3 percent year-over-year market growth—to $85 billion in 2019—kind of crazy.
Helping your SaaS firm grab a piece of that pie might seem daunting at first. But if you resist the urge to create an “all the things, all the time” SaaS product marketing plan, you can succeed. How? Do your homework, and establish these three things before you start planning:
1. Your Hero Statement
Trying to be everything to everyone in that $85 billion SaaS market is a sure-fire way to overextend your resources—probably on a lot of people who aren’t going to buy from you anyway. Instead, pick out the customer segment that’s a perfect match for your SaaS product, and rock every part of that customer experience.
Enter your hero statement, which helps you focus on the right target customers for the right reasons. to It’s a combination of the company profile or persona you serve best with the problem that you’re best at helping them solve. It might sound simple, but it requires a bit of advanced research to get these two elements nailed down:
- Buyer Personas: These are semi-fictional representations of your ideal customers based on market research and real data about your existing customers.
- The Jobs You’re Best at: In essence, this is the Jobs-to-be-Done Theory applied to your SaaS product. Thinking along these lines can help you discover which alternatives—including and going beyond your traditional competitors—your target customers are currently using to meet their needs. HubSpot Academy offers an excellent overview of identifying which “jobs to be done” your customers are actually “hiring” your SaaS product to achieve. (Spoiler alert: They might not be the jobs you think.)
Here are some hero statement examples:
- My SaaS firm is a hero to CIOs of $3-10 million companies who need to reduce data storage costs by 25 percent within two years.
- My SaaS firm is a hero to marketing managers at $1-3 million non-profits who want video content to generate over 30 percent of website conversions within the next year.
As you develop your product marketing plan, check your marketing activities and goals against your hero statement to ensure you’re in alignment. – Read more