12 Proven Strategies For B2B SaaS Lead Generation In 2023
Generating leads is a key part of any B2B SaaS business. It can be a difficult and daunting task, considering the sheer number of strategies available. In this article, we’ll discuss 12 top-tier lead generation tactics that SaaS companies can use for successful B2B SaaS lead generation in 2023.
What is B2B SaaS Lead Generation?
B2B SaaS lead generation involves targeting and acquiring potential leads for cloud-based software services tailored to businesses.
Companies that offer these products are known as “business to business” (B2B) providers, meaning they supply services directly to other businesses. SaaS stands for Software as a Service, signifying that a company hosts and delivers the Software in recurring subscription models or one-time payments.
This process involves targeting potential customers, providing information about your product, and convincing them to purchase or subscribe to your service.
Examples of B2B SaaS offerings include Zendesk for customer service helpdesks, Hootsuite for social media management, Salesforce for customer relationship management, and Dropbox for online file storage.
The sales team uses outbound and inbound marketing to attract potential users. Lead generation for B2B SaaS companies focuses on filling the sales pipeline with booked demo calls or scheduled appointments for their Software as a service product.
To be successful in SaaS lead generation, it is essential to use effective SaaS lead generation strategies.
12 Ways to Scale B2B SaaS Lead Generation
Scaling your B2B SaaS lead generation is essential for the growth of your business. Here are 12 lead generation efforts you can do to increase qualified leads and revenue in 2023.
1. Adopt a Buyer Led Growth Model
A buyer-led growth model focuses on understanding customer needs, preferences, and behaviors. By gaining insights into what customers want, lead generation companies can target an audience that will generate more leads and conversions.
2. Remove Friction Across the Buyer’s Journey
The buyer’s journey should be as simple and seamless as possible. Make sure no unnecessary steps or roadblocks prevent potential customers from taking action.
3. Solidify Your Brand Narrative
It is essential to ensure that your brand’s message is clear, concise, and consistent no matter the platform or outlet. This will help build trust with potential customers and make it easier for them to understand why they should choose your product or service over others.
4. Ungate Your High-Value Content
Potential customers should be able to access high-quality content like white papers, case studies, webinars, and blog posts in order to gain insight into the product or service before making a purchase decision.
5. Leverage Software Discovery Platforms
Software discovery platforms such as Capterra, G2 Crowd, and Software Advice are great resources for finding potential customers who may be interested in your product or service.
By optimizing your presence on these platforms, you can increase visibility and generate new leads for your business.
6. Use SEO To Bring Potential New Users
Search engine optimization (SEO) for search engine results pages is an effective way to reach potential new users who may have yet to hear of your product or service but could benefit from it if they did know about it.
Optimizing content for keywords related to your industry can bring more visitors to your website, which can then convert into leads over time with the correct nurturing lead generation strategy.
7. Utilize Social Media Ads
Social media marketing is a great way to reach new audiences and drive more traffic to your website or landing pages from search engines, where you can generate qualified leads with forms or chatbots.
Targeting specific demographics based on interests and behaviors will ensure that the people seeing the ads will likely become customers.
8. Invest In Automation Tools For Lead Generation Campaign
An Automated lead generation tool such as marketing automation software, email marketing software, chatbot software, etc., can help streamline lead generation tactics by automating tasks such as sending emails, creating personalized messages, tracking user behavior, etc.
This will save time while helping you nurture leads more effectively so that they eventually convert into paying customers.
9. Use Referral Programs & Incentives
Referral programs & incentives such as discounts or rewards points are great ways to encourage existing customers of your product/service to spread the word about it.
They can do it by referring friends & family members who might also benefit from it.
Thus helping you generate more leads over time without having invested heavily in paid advertising lead-generation campaigns.
10. Find Partnership Opportunities
Partnering with other brands can increase your visibility and credibility and help generate leads through referrals. Co-marketing networks and influencers in your niche can broaden your marketing efforts and create brand advocates.
11. Optimize Your Website
Improve your website’s conversion rates by making simple changes to increase user experience. Use clear call-to-action buttons, remove distractions, and add strong testimonials or reviews.
12. Try Tube Advertising
It is the best method to generate leads. Not only are YouTube ads more precise in targeting, but the “Skip Ad” option after a few seconds allows businesses to pay only for clicks that convert into actual sales and lead. This can drastically increase ROI when campaigns are optimized correctly.
How Much to Spend on B2B SaaS Lead Generation
Regarding B2B SaaS lead generation, the amount you should spend largely depends on your business’s size and revenue. Generally speaking, the average total marketing budget for a B2B SaaS company is between 5–12% of total revenue.
However, new SaaS startups should anticipate spending between 15–20% of gross revenue on marketing, while established many SaaS companies may only need to invest 6–12%.
Factors That Influence Your Marketing Budget
The amount you should spend on marketing your B2B SaaS company depends on a variety of factors, including:
- Your industry and target market
- Your current customer base
- Your sales goals
- The channels you plan to use for lead generation
- Your budget for hiring staff or outsourcing services
- The resources available for measuring ROI
Common B2B SaaS Marketing Channels & Costs
Common marketing channels used by B2B SaaS companies include outdoor ads, PR, SEO, SEM/PPC, content marketing, email campaigns, and social media.
Depending on your campaign’s channel and scope, costs can range from $2K-$610K. For example:
- Outdoor Ads: $10K-$40K (85% ROI)
- PR: $10K-$50K (62% ROI)
- Basic SEO: $2K-$4K (48% ROI)
- SEM/PPC: $3K-$30K (46% ROI)
Calculating Cost Per Lead (CPL)
When calculating cost per lead (CPL), it’s essential to consider the cost of each lead and its value in terms of revenue. To calculate CPL accurately, you must know a customer’s lifetime value and how many leads it takes to convert a customer.
Once you have these figures in hand, you can determine how much money you should spend on each lead.
To Sum It Up
In summary, incorporating these 12 best lead generation strategies into your B2B SaaS lead generation plan in 2023 will undoubtedly maximize success.
With relevant content marketing, effective social media platforms, and careful customer data analysis, SaaS companies generate leads that can create an impactful and efficient B2B SaaS lead-generation process.