Brand Awareness: Lessons from 3 High-Growth SaaS Companies

By Kevin Payne

Why should I buy? This is the question people ask before they make a purchase, especially when it comes to software-as-a-service (SaaS) product.

We’re now at a point in time where consumers are overwhelmed with too many choices from software products that serve the same purpose. Take something as simple as calling a colleague located halfway around the world. There are so many different apps that you can choose to do this. You have Slack, Skype, WhatsApp, Viber, and Facebook Messenger, just to name a few.

Besides properly validating your business idea; for a SaaS startup, this is perhaps the biggest hurdle to overcome: how do you get people to know you exist in this ocean of SaaS companies.

The answer: brand awareness

Next to developing the product or service, creating a reliable brand is critical to your ability to scale and grow your startup. That’s because when people buy a product, they go beyond the quality of the product or service they’re getting. Rather, they put considerable weight on what they know about the company: its reputation, character, relationships, values, and so on.

Brand awareness can’t be separated from the core operations of your startup. In fact, your brand is the heart and soul of your business. It’s what tells your customers who you are and why you started your business.

With that said, developing strategies to promote your brand is one of the keys to your company’s growth and success. And while there are no one-size-fits-all solutions to this, success tends to leave clues, which is why we’re going to look at lessons learned from successful startup founders.

After reading this article, I hope that you will be able to apply the steps here to help you propel your startup’s brand more efficiently now than when you first started reading this.

Lesson 1: Leverage the power of word-of-mouth

Out of all the different marketing strategies available, word-of-mouth marketing – online many may call this a viral loop – remains to be not only the most efficient but also the most cost-efficient. When done right, this marketing strategy can get the word out about your products and services quickly with significant results.

Word-of-mouth marketing is one of the cornerstones to the successful growth of Slack, an internal collaboration and communication tool. Today, Slack is recognized as the fastest growing SaaS company of all time. It’s grown in value from $0 to $4 billion in just four years and adding as much as $1 million worth of new contract every 11 days.

The use of word-of-mouth marketing as the primary strategy to launch Slack is attributed to its co-founder, Stewart Butterfield. As the founder of the photo sharing platform, Flickr, Butterfield maximized his contacts and connections to get people to try Slack out before its launch.

What’s significant about this is that it is something that can be quickly applied by SaaS startups even without a massive contact database like Butterfield. Here are some take away steps Go to the full article.

Source:: Business 2 Community

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