The world of SaaS companies has become overcrowded as time goes on. However, this doesn’t stop anyone from establishing a successful SaaS company and conquering the market. Innovation is always praised, especially in the current landscape when we see a rise in artificial intelligence and cloud software. 

Modern companies use SaaS applications extensively, which shows their importance and usefulness. If you’re interested in starting a SaaS company and establishing yourself, having a unique idea isn’t the end-all.

There are a number of different actions that you should take to properly establish yourself on the market. Marketing campaigns, SEO, and numerous other activities can help you increase your presence and attract new clients and customers.

This article will break down some of the most important methods you should implement in your operations to increase your chances of establishing your SaaS brand in 2024. 

SaaS landscape in 2024

One of the most important trends in the past couple of years is the rise of AI and machine learning. Many SaaS companies have started implementing various AI solutions with the intention of attracting new users and making use of this trend. 

Companies that implement AI into their software won’t necessarily succeed because of it. Understanding where this concept can be applied and where it’s redundant can help you make better business decisions. 

On the other hand, we’re starting to see changes in how the subscriptions for SaaS companies are functioning. Cash flow automation and process innovation are also aspects that more companies are putting their effort into. 

Larger tech trends such as AI didn’t avoid SaaS, and it’s important to understand AI if you’re looking to establish yourself in this market. AI can be implemented as a part of your product, or you can use AI solutions to boost the internal processes of your company. 

1. Segmenting your audience

Understanding your audience is one of the most important marketing aspects nowadays. Customer segmentation can help you understand who your current customers are and how to attract more of them. 

Segmentation is the process of grouping your audience based on their certain characteristics or behaviors. For example, you gather the birthday information of your customers through a survey, allowing you to understand what age group is attracted by your service.

On the other hand, working with clients requires you to understand what a company in need of your services looks like. Customer segmentation can be conducted by gathering the related information via survey. You can also use product analytics to have a broader understanding or user interviews if you want to learn in-depth about your customers. 

A mistake that can be made in the process of audience segmentation is making unnecessary groups. This way, you’re wasting the information that you’ve gathered on targeting groups that don’t have enough in common. 

With the proper segmentation, you will be able to conduct much better marketing campaigns than your competitors. Building proper strategies from the ground up can significantly increase your likelihood of succeeding in the market. 

2. Compliance with data regulations

SaaS companies have vast amounts of data at their disposal. They’re gathering the necessary information from their users so the software can function, as well as additional, optional data that’s used for better marketing.

However, it’s quite important that this data is gathered in a way that’s compliant with the data regulations. Depending on the region they operate in, companies should adhere to regulations such as GDPR and CCPA.

New regulations are also being adopted as problems are recognized. Companies now have to understand the differences between documents such as DMA vs DSA and numerous others. This ensures that they are operating in accordance with international and regional regulations. 

Failing to adhere to these regulations can lead to significant fines, and the company’s reputation can suffer as well. Data compliance won’t help you establish your SaaS as much as it will help you protect it from unnecessary harm. 

3. SEO services

One of the most helpful methods of establishing business and increasing your brand awareness is SEO. Proper search engine optimization methods can help you attract new customers and clients and improve your conversion rates.

There’s no need to have an in-house SEO team. Instead, you can find a good agency to do this for you. If you’re based in the UK, a good SEO agency Oxford, can help you rank better in the region and increase your chances of success.

SEO not only attracts new people but also indirectly builds trust. If your website is ranking on top when it comes to certain informational topics, users will consider this as a sign of trustworthiness. 

Even though SEO isn’t your main priority for getting clients or customers, it’s a good marketing medium. SEO can be the action that will help you get ahead of other SaaS companies on the market. If you happen to rank better than them, this can lead to increased profits and conversions. 

4. Don’t neglect social media platforms

Social media presence is essential for businesses nowadays. However, because of the nature of SaaS, many companies have neglected this marketing aspect. Social media is indeed useful in establishing your presence and attracting visitors. 

Because there are numerous options, the first step in using social media for your SaaS business is finding the proper platform. Each social media website has its audience and format. While some businesses thrive on X, others find the short-form content inadequate. 

Social media allows you to repurpose content from your blog articles into short-form videos or social media posts, allowing you to generate curiosity. Furthermore, SM can help you with building a community.

Regular users of your service can create their own content, motivate others to use it, and create tutorials on how to use it. To further increase your SM strategy, you can collaborate with influencers who can help you grow your audience. 

Finding the perfect influencer requires you to do research on their audience and understand whether there are overlappings between your product and their demographics. 

5. Improving your product

Each of these methods is supplementary to the main value of your company which is the service itself. While you can have a flawless social media account or high ranking on Google, a poor product can lower the customer lifetime value, and even repel some users. 

Before you start investing in any of the other methods, you should ensure that your product is delivering its worth. A good product will market itself, and you won’t have to spend a fortune on additional methods. 

You should ensure that the individuals working on your product are highly competent and that they understand the goals and vision of the company. If you happen to already have a great product, that’s okay, but you should still work on it constantly. 

For example, many great SaaS companies have embraced AI, and while they had great success until now, they wanted to ensure that their product is future-proof. 

6. Cybersecurity as a layer of protection

Just like compliance, cybersecurity is a method of protecting your business rather than expanding it. Cybersecurity threats are common and no website or business is too small to become a victim of a wrongdoer. 

As a SaaS company, you’re storing vast amounts of user data which needs to be protected. In case of a ransomware attack which can lead to data loss, your company can be fined. You’re responsible for protecting user information, and even if it isn’t your fault, breaking regulations will lead to significant problems. 

Cybersecurity is an essential step in ensuring that your business and customers won’t suffer from unexpected risks such as cyber threats. 

Skyrocket your SaaS brand with the proper steps in 2024

Proper implementation of at least one of these methods can significantly boost your business in aspects related to the method. However, it’s best to do a proper analysis of your competitors and industry before you put your chips into it. 

Some methods can be redundant depending on your field, but others are applicable to a wide variety of situations. Having someone to do your SEO is always useful, but if you get your clients from LinkedIn or email outreach, you shouldn’t worry about it too much.

On the other hand, investing in cybersecurity won’t help you reach new people or improve your metrics. Instead, this can help you mitigate potential risks and be a safety net in numerous problematic situations. 

My conclusion is that there isn’t a single method that will guarantee your success. Instead, you should consider each of these methods and see which of them is most applicable to your situation.