In a competitive industry with high churn rates, sluggish lead generation is a big obstacle for many SaaS businesses. You know you have a great product that could help thousands of customers, but getting the engagement and commitment from the right audience can be tricky. After all, you have to translate the value of a multifaceted and technical service while justifying the cost – often subscription-based – to the customer.
It’s a sad fact of marketing life that your budget is often at risk, and when the company wants to make a saving, the marketing budget is usually the first thing that gets slashed. In 2018, most marketers increased their marketing budgets, but 8% of marketers still expected to see a decrease. While those 8% were suffering, 46% looked to be getting a budget increase, something that could push them, and their companies, even further ahead.
Marketers working in SaaS can find themselves in a unique position compared to other industries as they are usually surrounded by analytical, data-driven types, making it vital for them to accurately report on the ROI from their marketing efforts in order to get sign off from their CFO at the next budget meeting.