The wait for shopping season is finally right in the corner- Black Friday and Cyber Monday (BFCM), after Thanksgiving. This is the most awaited day for every business to vent their products at a discount rate in the market and anticipate maximum profits.
Before the introduction of SaaS, people found it difficult to update or download on their device, whereas SaaS aids to maintain servers and databases that are easily accessible through the internet, and eliminate convoluted software & hardware management.
The big day for retail shopping, software companies & digital commences forthwith after Thanksgiving. To account for that, SaaS faces an epic return for their investment in the business, where their stakes are quite intense but the buyer of it is low. Therefore, SaaS businesses see Black Friday as their advantage in selling the SaaS at a discount rate and a positive impact on sales as well as revenues.
Still, marketing SaaS during that shopping season requires a lot of effort such as engaging and hosting campaigns, fixing the price according to the demand & supply, especially analysing competitors at the time of Black Friday in the market and so on.
So, here are the tips you may take into account to promote your SaaS on black Friday.
Top 7 Strategies to Boost your SaaS Product Sales on Black Friday
Start a little early
It would be best for SaaS businesses to start up their sales a little early, say from August or September 2021. Like, it is said that ‘Hustle in silence and let the success make noise’ so prepare things early instead of rushing on the big day. Schedule your social media about the offers, deals and rates beforehand rather than surging on Black Friday and grab the opportunity before your competitors.
Build a Strategy
SaaS businesses usually operate through subscriptions, but on BFCM, most people expect to purchase SaaS products and not subscribe to them, as the company is offering at an extreme discount rate.
While some look for the subscription model, so build and establish your strategies according to it. For example, analyse your target audience in terms of what they’re searching for, what deals they’re expecting and what channels are best to advertise SaaS so that will capture your targeted customers.
Categorise your audience
As we know people purchase SaaS or any other software on Black Friday because that is the day where many companies offer at various rates from high to affordable to very low prices. Categorise your audiences according to the discounts rates, because not everyone is looking for the same product at the same price. So, Group up your audiences into segments and set different levels of discount rates like:
- Some customers that trailed your SaaS product but never made purchases.
- Customers who want to buy the product, but never made the step to purchase it.
- Existing Customers
- New customers
- Customers who are planning to buy SaaS products a long time ago and waiting for the right time to purchase.
For instance, if the customer is conventional to your shop, and make an appearance on Black Friday. Whereby, the customers foresee an affordable price, so you would give the product at a maximum discount rate for the sake of existing clients to the business.
Once you have done with the segment of your audiences according to discount rates, then the very subsequent process is to promote your SaaS products separately to them.
Price your SaaS Products logically
The most crucial step to promote your SaaS on black Friday is to set the right offers, where setting the discount at really high rates could cause a decline in the profit margins. On the other perspective, Pricing the SaaS products too low may leave customers disinterested in your product.
For instance, if you have set a 70% discount rate on your SaaS products, this would entice people to make purchases but, you may not even get a 60% profit from the money you have invested in the business. So, think sagacious in deciding the discount rate.
Promote your SaaS Products on Different social media platforms
As I mentioned above, plan beforehand and be ready to post the relevant offers about your SaaS on various social media. In order to market your product especially on the big day- Black Friday, the most important thing a business should do is consider different styles of campaigns to appeal to as many people.
Moreover, engaging on various social media and conducting campaigns highly reflect a positive impression on revenue and sales of your marketing SaaS products.
For instance, operate your campaigns for more than 1 week, even though the sales go beyond Cyber Monday, where you will see an increase in the revenue.
Create Creative and Dedicated landing pages for the day(CTA)
If you yearn to take the yield of your arduous endeavor then create a dedicated landing page with a custom design and mention Cyber Monday. Make some attractive offers and remark that it's a one time offer.
Present and check if your site is mobile-friendly and Keep your presentation lucid
Shopping on mobile is the new normal, as per reports 46% to 54% people buy products using smartphones and it covers about 30 to 37% of sales. So make sure that your site is mobile friendly. To make your site mobile-ready do a Google Speed Test And don't skip to specify the “mobile” feature.
Make your site accessible on all smart devices like iPhones, iPads, and Android. Add mobile-friendly payment choices for your customer, as people may prefer several payment options, so make sure you have alternatives like Apple Pay, Alipay and Android Pay etc. People always prefer sites that are friendly and easy to access, so make your presentation and sites are lucid.
Benefits of Promoting your SaaS Product on Black Friday
People have been profited in peddling their products on black Friday. Here we have quoted a few advantages you obtain by retailing your SaaS product on black Friday.
- Black Friday is a presumed exhibition, so you don't need to spend much on publicity for your software. People know the objectives of buying products on black Friday and you can also captivate better consumers by delivering them promising deals or proposals. You may be promoted on sales listings and articles of Black Friday.
- Correlated to further days, on black Friday numerous customers will be glancing for adequate products. So there will be a Huge Audience, all you have to do is execute a satisfactory campaign and propose to them a healthy rebate.
- On black Friday products amass better prices, mainly on Cyber Monday software products exchanges prevail at maximum.
Black Friday is recognized by everyone and you don't need to publicize it. In this era, the extreme public infers about Black Friday and its usefulness. It captivates a massive audience and also profits you double the value.
Campaigning on Black Friday as a SaaS company is not an easy thing but neglecting it may cause you a huge loss. To make the procedure less tiring, put your deal on the list and join hands with an ecommerce service to help you with the logistics, billing questions and shoppers.
What is Black Friday
Black Friday is celebrated where many shop owners give steep discounts on their products. It is celebrated after thanksgiving.
What is SaaS?
SaaS is a software over service where the providers deliver their applications over internet.
What are the strategies to promote SaaS on black Friday?
Start early, Promote your products on social media before the big day, make sure site is mobile friendly are some of the strategies to promote SaaS on black Friday.
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