Problem: Acquiring users and sales
A lot of SaaS companies are using paid ads but is it worth it? The ROI or rate of return does not feel worth it at times. The Cost of Acquisition (CaQ) can be six months of the Lifetime Value (LTV). So, as a SaaS company, how can you acquire users and sales efficiently?
The Steps to Acquiring Users and/or Sales
No matter what product or service your software may offer consumers, there are certain universal steps you can take to ensure you are doing your best to acquire users and sales for your company.
Step 1: Identifying who your dream customer is
This is a much longer process than you might think. It took Aaron a long time because, for a long time, he had never had an example of his dream customer. In the beginning, he wasn’t picky. He took on anyone he thought he could help.
Over time, after working with enough SaaS founders, I’ve realized that there is a better way to identify who our dream customer is.
Step 2: Look at groups who are serving your ideal customer
Instead of focusing on SEO (which will attract a wide variety of people, but can be unwieldy) and one-to-one (which can be a slow process), try attracting a group of people through businesses, groups, companies, and organizations that serve your ideal customer. Make a list of 100 contracts, if you’re building a partnership strategy like this.
First of all, you make them look better, with their users and second of all, you provide a generous referral commision.
Step 3: Come up with a “First Date Offer”
Come up with something low risk you can provide your partner so they can see how you work.
If I don’t know you and know your product, I’m not going to get married to you.
Step 4: Integration
You go on a few dates with the people you’re dating before getting serious. The same goes for this type of business relationship and partnership. Write a few blog articles for them, talk about how you can close the success gap and you do a bit of work for them so they can introduce your product to their followers, as a gift to them.
Partners are the laziest people on earth (not that they’re not successful) but they won’t go out of their way to write a post about your product for their audience. But if you present them with pre-written social media posts, pre-written emails, pre-written almost-anything, a landing page…