A Product-as-a-Service (PaaS) subscription business is one in which clients make recurring payments for access to a product they cannot purchase upfront. This subscription model keeps gaining favour, largely due to its association with the Circular Economy and the possibility of generating recurring revenue for enterprises,
Promoting your PaaS product requires some work on your part to persuade and explain to clients why they should purchase your product as a subscription. The same thing applies if your client base is already established; you must ensure that your staff supports your company’s long-term, sustainable growth, also known as customer success.
Ask any PaaS marketing agency (ahem, us) about the best tips to market your PaaS product online, and they will come up with a version of this list right here:
1. Define Your Target
Knowing your goals and what you hope to accomplish with your PaaS marketing strategy is essential if you want to better promote your PaaS product. You must establish certain KPIs (Key Performance Indicators) in addition to your goal(s) in order to measure your progress. What resources are truly necessary for you to achieve your goal, for example? How would you define success?
2. Customer Experience is Everything
Customer experience has grown in prominence in recent years as businesses seek new ways to better their customer interactions. CX will be a major differentiator for many PaaS companies now more than ever.
Before you expand your consumer base, consider how you can improve the experience that the existing customers have with your product and website. Understand their requirements, customer journeys, and the features they need in your product to buy it often. Also, streamline business procedures and seek for opportunities to make changes that will help your clients.
3. Benefits Over Features
When communicating with customers, one of the more typical mistakes we tend to make is rattle off all of our wonderful product features, whether they understand them or not. Next time, instead of providing aspects that a customer might not need to know, communicate the value and outline the advantages of your Product-as-a-Service offering. Avoid confusing or overloading your audience with information by keeping your communication clear and succinct.
Make a list of the advantages—not the features—that your customers will enjoy from your PaaS product. They will better comprehend what you have to offer if you make your messaging clear by highlighting your benefits.
4. Focus On Retention
Making long-term, devoted consumers who will continue to purchase from you is one of the challenges of PaaS.
A successful subscription model needs to have strong client relationships because without them, there is no room for long-term expansion. Your customers will become brand ambassadors for your PaaS product and keep recommend you to others. They will become a walking advertisement for your company.
Keep an eye on your customers’ usage and work to minimise any churn you may see. Data collection is so much easier now, so make greater use of it to build your customer relationships with existing users.
5. Free Trials
Experience begets interest. That is to say that it is harder to let go of something you’ve experienced, over something you haven’t.
Allowing potential customers a taste of your product can go a long way to cultivate interest and keep them wanting more. Now everyone likes free trials, but from a business standpoint, this isn’t a long-term strategy for growth. What you can do is decide if you can offer your product for a month, or even two weeks if that’s the extent of your profit margin.
When promoting your PaaS product, it’s critical to first identify your goal(s), then make sure to use the data you already have to enhance the customer experience. Don’t undervalue your PaaS marketing strategy, and make sure to explain the advantages of your solution while maintaining a clear, consistent message about your PaaS model from the start. If you can, provide a bonus that benefits your customers.
If you incorporate the elements and ideas listed above, develop a sound strategy, and devote the appropriate resources towards it, a healthy return on investments is very much within the realms of possibility. If you want more tips, advice, or simply want us to build a highly-optimized website for you, reach out to us at Alter at +91 99864 60086 or email us at [email protected] and book a consult today!
Bonus! Want to learn more about creating the perfect growth plan for your SaaS product?
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An experienced Marketer with a demonstrated history of working in the digital marketing and advertising industry. Aravind is skilled in building ROI driven marketing strategy, digital strategy planning, Search Engine Optimization (SEO), Social media marketing, Search engine marketing, Landing Page Optimization, Web development, Media planning Google certified analytics and PPC expert.