Lately, there has been a boom in the number of software-as-a-service (SaaS) companies in various industries.
With the increased competition, there’s the need to stand out from the crowd.
One way to do that is by providing a commendable customer experience.
Gladly, we live in a world where SaaS marketing automation exists.
After all, a human can’t get done 5% of what an algorithm can.
In fact, a survey revealed that marketing automation increases sales productivity by 14.5% while reducing marketing costs by 12%.
Wouldn’t you want that?
This article will guide you about the usage of SaaS marketing automation and how it can help grow your business.
So let’s begin.
What Is SaaS Marketing Automation?
If you want to grow your SaaS company, you need to put in a lot of effort.
For starters, create a multi-channel presence to beat your competitors.
However, marketing automation streamlines various marketing tasks and boosts your entire team’s productivity.
To explain, SaaS marketing automation refers to a specific software suite with a wide range of functionality aimed at increasing the efficiency of various business processes.
It involves emailing your leads to nurture them, re-engaging with your customers to increase their lifetime value, integrating multiple channels into one, and much more.
EngageBay’s SaaS marketing automation tool provides a comprehensive solution that helps with boosting engagement, lead generation, conversions, customer retention, and sales.
Why Does Your SaaS Need Marketing Automation?
SaaS (Software-as-a-Service) industry-wide revenue is estimated to reach $157 billion by 2022.
Besides, SaaS business accounts for 25% of all software.
One of the major concerns of any SaaS company is to get the most share of this business.
Well, you need a wise marketing strategy combined with the latest tools and techniques to deliver the best customer experience.
Using SaaS marketing automation software, you can offer a personalized experience to all your prospects and existing customers.
Let’s look at some of the numbers first.
These numbers speak for themselves.
If you want to reduce your churn rate, you need to increase efficiency at work.
And marketing automation is the key.
Most importantly, marketing automation tools create a smooth line of communication between your company and your prospects and customers.
Your company needs to keep your customers engaged and provide the best experience possible.
This also helps with lead nurturing, pushing them down the sales pipeline and eventually converting them into customers.
In other words, SaaS marketing automation helps you increase the chance of your business success.
What Are the Benefits of Using Marketing Automation for Your SaaS?
Before we begin, a survey revealed the top three benefits of using marketing automation for SaaS companies. These include:
- Saving time (30%)
- Lead Generation (22%)
- Increase in Revenue (17%)
Let’s discuss in detail how marketing automation can benefit your business.
i. Higher Conversion Rate
Marketing automation software helps keep track of every lead, nurture them, and prioritize them to increase conversion.
Furthermore, the system makes your team more effective by automating redundant or repetitive tasks, allowing your staff members to focus on more productive activities.
Thus, they get more time to analyze marketing strategy and plan how to get visitors to convert.
The more the conversion, the more the revenue.
EngageBay’s Lead Scoring system identifies your most qualified leads, lets you track engagement, and pinpoints who to follow up with.
ii. Personalized Marketing Strategy
Marketing automation software allows you to create targeted, personalized campaigns thanks to its segmentation and reporting capabilities.
Besides, you can interact with your leads on multiple channels, including emails, social media, SMS, and others.
Personalized marketing efforts have more impact on your lead nurturing process than a general campaign.
iii. Accurate Reporting
How many leads did you get this month?
How much money have you spent on a marketing campaign?
You need to keep track of certain metrics that can help you determine how well your marketing campaigns are performing.
Generating reports and analyzing them can be a daunting task if done manually.
With marketing automation, these reports are generated in a matter of seconds.
Marketing automation tools collect data from all sources and combine them into an integrated platform to provide accurate results.
With streamlined reporting, you can know where things are going wrong.
With EngageBay’s CRM analytics, you can make smarter decisions to improve customer relationships and increase sales.
iv. Marketing and Sales Alignment
Even for SaaS companies, the marketing and sales teams struggle to work in sync.
But business growth demands teamwork.
With SaaS marketing automation, you can align marketing and sales teams towards common goals.
It makes the whole process of nurturing marketing leads into sales leads a lot easier.
It also ensures that no leads are misplaced or get lost in the process.
This way, the marketing team can spend more time strategizing to get more leads while the sales team can focus on closing deals.
v. Lead Nurturing
SaaS marketing is no different.
It involves capturing leads and nurturing them for conversion into paying customers.
Marketing automation streamlines the whole process of lead nurturing.
It helps create drip email campaigns and newsletters and keeps track of and generates various reports to determine success.
Without lead nurturing, you will have a hard time converting leads to sales prospects.
Is Marketing Automation Right for Your SaaS?
The equation is pretty simple.
If the average customer value is low, you will need to deploy more automation in your SaaS.
This is because you will need to carry out a scalable, personalized campaign for your wide audience.
You should be able to put across the right message at the right time to the right audience.
Similarly, if the average customer value is high, then you will need less automation.
It requires more of a table conversation or selling through the phone with very little automation.
The best example is Zoom.
Zoom is a SaaS product that relies on economies of scale to become profitable.
They can’t afford to lift the phone for a single customer: it will cost more than the customer’s total lifetime value.
Zoom needs to automate various activities to run a campaign on a wide range of audiences.
It’s practically not feasible to convert and retain customers with manual activities.
However, the best marketing campaign strikes the perfect balance between automation and personal touch.
As for companies like Palantir, a big data analytics company has a limited number of customers, probably less than 100 or even 50.
These companies are still valued in billions, with their clients being Fortune 500 companies.
The best approach is to have a table conversation and not through an automated email campaign.
How Much Does SaaS Marketing Automation Software Cost?
Every company wants to reach potential leads in the most cost-effective way.
This is why pricing plays an important role in picking the right marketing automation for your SaaS business.
Even though many vendors provide detailed pricing information on their website, many need to be contacted directly for a quote.
That’s why we have laid down the top five SaaS marketing automation pricing so that you can make your selection easily.
Before we dive into that, let’s understand the different pricing plans.
Marketing Automation Software Pricing Plan
Marketing automation vendors follow the standard SaaS pricing plan.
They give you access to their software for a monthly, quarterly, or annual subscription fee.
There are generally two ways to it:
Pay Per Month Subscription Plan
This is the most common pricing plan with tiers based on the level of features and a maximum number of contacts.
The highest plan includes integration with sales platforms and some advanced functionalities, such as analyzing target markets, cross and up-sell products, and more.
Pay Per Contact, Per Month Subscription Plan
Here, vendors provide full functionality and only charge for the number of contacts in a company’s market database.
Generally, the minimum number of contacts is 1,000.
Many vendors have an online calculator embedded on their site where companies can input their number of contacts and receive an immediate quote.
Top Five SaaS Marketing Automation Software to Consider
EngageBay is a robust marketing automation software equipped with a wide range of functionalities.
Cool thing is that it has the best pricing plans, making it accessible to small SaaS businesses too.
You can include up to 1,000 contacts in your free version.
You can upgrade to its paid plan for $12.99 per user per month and save up to 15,000 contacts.
This Basic plan includes all free features plus SMS marketing, third-party integration, tag manager, and a lot more.
Its other paid plans are Growth ($24.99 per user per month) and Pro ($49.99 per user per month), with many more advanced functionalities, such as marketing automation.
Don’t miss this video highlighting EngageBay’s features in whole!
HubSpot is another popular SaaS marketing automation tool that provides everything you need to capture leads and convert them into customers.
It has three paid plans, starting at $45 per month, where you can store 1,000 contacts.
This Starter Plan comes with a landing page builder, conversation bots, forms, list segmentation, email list insights, and more.
Its Professional Plan starts at $800 per month with 2,000 contacts.
Apart from the Starter Plan features and free tools, it offers tools for personalizing your campaigns, optimizing online conversion tools, and more.
Similarly, the Enterprise Plan starts at $3,200 per month with 10,000 marketing contacts.
It has tools for managing your brand and team, such as field-level permissions, single sign-on, etc.
ConvertKit’s primary purpose is to help your SaaS company grow long-lasting relationships with your customers through segmentation, and increase conversions with automated emails.
ConvertKit prices its SaaS marketing automation service into three plans: Free, Creator, and Creator Pro.
The Free Plan allows you to manage up to 1,000 subscribers and offers unlimited landing pages and forms.
It also enables you to sell digital products and subscriptions.
The Creator Plan starts at $29 per month for up to 1,000 subscribers.
In addition to Free Plan features, you get automated funnels and sequences, and free data migration from another tool.
The Creator Pro Plan is for $59 per month (for up to 1,000 subscribers).
Some of its advanced functionalities include Facebook custom audiences, newsletter referral system, subscriber scoring, and more.
ActiveCampaign provides a marketing automation tool that helps you create an excellent customer experience for your SaaS business.
Its pricing is calculated based on the number of contacts you want to include.
It has an online calculator on its Pricing page that immediately gives you a quote.
For basic 500 contacts, the ‘Lite’ plan starts from $9 per month.
Similarly, the ‘Plus’ plan is available for $49 per month, the ‘Professional’ plan for $129 per month, and the ‘Enterprise’ one for $229 a month.
Most importantly, it has its features categorized based on different verticals, including digital business, B2B, and e-commerce.
GetResponse’s marketing automation tool is aimed at delivering a personalized experience to your customers.
It helps with boosting online sales through lead generation and customer engagement.
It has four pricing plans: Basic, Plus, Professional, and Max.
The Basic Plan starts at $15 per month and that includes unlimited landing pages and lead funnels, Facebook and Google ads, and more.
Its most popular plan is Plus for $49 per month, followed by Professional for $99 per month.
Max Plan has custom pricing.
It offers an online calculator where the price changes based on your contact requirement.
A well-planned marketing strategy is the key to success in the SaaS industry.
However, that’s not enough.
Its execution is equally important, and the use of marketing automation can streamline your entire campaign.
If you want to see your business grow, start using a SaaS marketing automation tool now.