The software industry is currently experiencing a development renaissance. This is great news for business owners looking to shop around for a new vendor, but it makes gaining market share challenging for software companies. Given the crowded apps marketplace and the prevalence of cloud-based SaaS solutions, it’s vital for software companies to market their products appropriately.
In order to scale past early adopters and into mainstream sales success, nearly 90 percent of SaaS companies reported new customer acquisition as a top priority. Lead generation can be a costly process, but with a solid software marketing strategy, growing companies can lower those customer acquisition costs and potentially increase sales. Let’s take a look at some software marketing tips that can boost revenue.
Focus on customer service
Customer service has become a cornerstone of brand strategy in a digital age where companies are cultivating a richer understanding of the impact of customer experience on the sales funnel. Customer service, however, is more than just responding to questions and complaints online. It’s about understanding the customer journey. What do they want? Where are their businesses headed, and how does a company’s software fit into that niche? How are they currently evaluating their vendor options? Questions like these can help segment the buyer persona more effectively. Answering these questions gives insights to marketing teams so they can more intimately understand how stakeholders make purchase decisions, allowing them to more precisely build marketing campaigns and target more qualified leads.
Another valuable element to SaaS marketing is examining the value proposition behind the product offering as a potential vehicle for marketing efforts. Identifying key elements like price, data storage, analytics, and other facets business owners are particularly interested in plays a role in developing solutions to fill those needs. Software CEO Mark Hurd echoed this theme by saying, “aligning technology strategy to better service customers becomes an essential path to revenue growth.” If software companies can isolate the most appealing aspects of their offering, thus reducing costs for their customers while remaining competitive in terms of function, they can translate their developments into better customer service. Outstanding customer service can act as a key differentiator and provide valuable marketing clout.
Optimize content marketing
Content marketing has experienced explosive growth across industries, especially in the SaaS sector, where breaking down more complex topics can be integral to converting sales. Two ideal places to offer such content are blogs and social media channels. A unified blog and social media strategy can extend the half-life of popular posts and drive organic traffic to target pages. Additionally, offering engaging content can help software companies build up an email list to send out newsletters and marketing material.
Businesses should offer relevant, expert content that appeals to their target audience’s particular set of interests and expertise. Content can take the shape of standard blog posts, podcasts, infographics, and videos. The idea is to create “explainer content” framing data or product information in an easily digestible and shareable format. Current trends in media consumption point to mobile devices as a leading source of paid and organic clicks, so focusing on content such as video and audio can help capture an audience who is always on the move.
Feature marketing is one SaaS marketing trend that can be augmented with content marketing. Many software companies develop side features, apps, and widgets that stand alone from the main product but provide added value to target buyers. These additions have the potential to confuse customers if they are not communicated properly. Yam Regev, a software content marketing expert, commented, “the fact there are lots of new features is just like having more content! Extra features enable marketing to better inform and engage targeted audiences.” Sometimes, companies develop features that become more widely used than the main platform itself. Savvy marketers will consider the development of new products and apps as valuable opportunities to attract new customers and upsell existing ones.
Crowdsource reviews/client testimonials
Customer testimonials are essential when building up credibility surrounding a software product. They are an important part of a brand’s presence and stand as a testament to what prospective clients can achieve, or “social proof.” Because 92 percent of e-commerce buyers stated they sought out and read customer reviews before making a purchase decision, positive testimonials are increasingly important to those considering a software vendor, which is a more nuanced purchase.
Marketers can encourage customers to leave reviews or identify and reach out to specific clients who are likely to leave a positive testimonial on their site. Case studies are a great example of leveraging client results to inform future purchase decisions and can be a valuable asset in a content marketing campaign.
Standing out in the bustling SaaS marketplace can seem daunting. The tips above can help software companies cut through the noise and communicate their product offering more clearly to prospective customers.
As you can see, a seamless and intuitive invoicing system is an indispensable requirement for your business.
Starting a small business may be a dream come true for many an entrepreneur, but running it takes effort and smart work. Modern businesses need to harness technology that not only supports their processes, but also betters them to set the tone for long-term success.
Every time your small business sells a product or a service, an invoice is generated. For a thriving business, that’s way too many invoices being made every single day. This is where an efficient small business invoicing solution comes into the picture. It takes the worrying and erring out of making sales and payments, and makes the process expedient and hassle-free (and environment-friendly).
This post will shed light on the purpose of online invoicing, its functioning, and the factors that will help you choose the right online invoicing solution for your small business.
The Purpose of Online Invoicing Solutions
Having a small business invoice software in place will allow you to bid adieu to traditional solutions like MS Word and/or Excel. This, in turn, will enhance your workflow and eliminate the frustration arising from the arduous process of managing invoices.
With the right invoicing solution, it becomes easy to create, track, and process invoices as well as business and customer details. Further, such a software can accelerate and augment your cash flow, as well as expedite and simplify payments, apart from helping you save time and money.
Online invoicing software allows you to store all your data in the cloud. This means you can put your worries related to losing invoices or client data, or even your computer crashing and hacking issues to rest. All you need to do is log into your account to access all your business-critical information and start billing your clients.
Mentioned ahead are a few undeniable advantages of using online invoicing software.
a. Automated Digital Payments
Invoicing software allows businesses to carry out secure digital transactions and automate outflows by setting up recurring payments. This is particularly helpful with long-term clients. The system sends follow-up messages and payment reminders for forthcoming and due invoices. This, in turn, eliminates the stress of manually tracking and chasing down these payments.
b. Secure Your Data
Paper invoices can easily get lost or land in the wrong hands. A good invoicing system prevents this by making data security a priority. Ensure to invest in software that complies with PCI Security Standards. Such software employs advanced security safeguards, such as SSL encryption, against threats and loss of data.
c. Get Multi-Language and Multi-Currency Support
Technology has brought the world closer, enabling small businesses to work with global clients. Cloud-based invoicing platforms are becoming increasingly popular due to their ability to allow users to choose their preferred language and currency, making interactions and transactions between companies and clients smoother and clearer. Because online invoicing systems are able to operate flawlessly in the global marketplace, the payment barriers are eliminated.
d. Access Information at Any Time from Anywhere
Online invoice management systems empower business owners to access and manage client information and billing data from any location and time zone and on any smart mobile device. Whether you’re working from office, home or are on-the-go, you can do business as usual without a hitch.
e. Easier Auditing
It is easy to access and interpret information with an invoicing software as it allows you to save and view your bills, estimates, expense receipts, transaction statements, and other important documents on one dashboard. The system creates a systematic and quick process for assessing financial statements related to your accounts and tax deductions. This makes it convenient for you to maintain your records in an error-free manner, which can be especially helpful during IRS audits.
f. Quicker Payments
Sending invoices online and receiving payments is quick and easy with an invoicing system in place, even more so if you use the recurring billing facility. Receiving, reviewing, and returning invoices can be done with the click of a button. This translates into quicker payments in a safe manner.
g. Save Time and Costs
Business owners can say goodbye to tedious data entry with online invoicing systems as they let you generate and distribute multiple invoices without reentering customer information each time. Bills can be tracked easily as well. Further, overheads can be brought down by jettisoning the use of paper, stationery, stamps, and document storage items used for sending invoices.
h. Reinforce Your Brand Identity
All your system-generated invoices will have your company logo, color schemes, and fonts that are a part of your brand standards. With a strengthened brand identity, clients are bound to take your business seriously and make payments on time. Further, you can customize your invoices with messages such as “Thank You!” You will also be able to link to piece of content created by you to help solve clients’ specific problems. This will reinforce your brand identity while establishing your leadership and expertise.
How Invoicing Software Works?
To put it simply, online invoicing systems for small businesses allow owners to create and send bills electronically. However, there’s more to them. These systems also enable users to create, control, and evaluate invoices on your smartphone or tablet. This essentially means that you’re on top of your work-related developments at all times. Read on to gain a thorough understanding of how to use an efficient invoicing solution to simplify your life:
Start by entering your client’s information on your invoicing system. This includes their name, contact details, email address, billing and mailing address, and preferred payment method. Organizing this data will enable you to set up recurring payments and issue invoices instantly.
Users can also input the usual billing costs once and for all in the system. The software will calculate the total bill at the end of each cycle automatically. This works particularly well if you charge an hourly rate.
Set up your payment terms and policies as these will determine how your invoices will be paid. Other factors to consider are payment schedules and preferred payment methods. Deciding on these aspect will make your billing process glitch-free. This should motivate clients to pay invoices on time and without hesitation.
Invoicing systems allow you to carefully design invoices to prevent confusion and delays. While this may seem complex, it really isn’t. Make sure your invoices include your brand’s logo, color scheme, your contact information, invoice number, payment due date, payment terms and policies, itemized list of products/services, and a note of thanks to the client for the payment.
You can maintain records of contracts, agreements, payments (paid and due), and other documents in the most orderly manner with the help of an online invoicing software.
How to Choose the Right Online Invoicing Software?
One of the conundrums small business owners find themselves in relates to choosing the right invoicing software. This can get tricky because of the variety of industry-specific solutions available in market. However, you will do well to focus on the following criteria when picking a system for your business to ensure that all its needs are met.
a. High-Level Data Security
Figure out if your invoice management system stores your data on its own server or a third-party server. Ask providers about the security measures they take to ensure the security of your information. Also, verify if the software providers are using HTTPS connection (from their website URL in the address bar). This protocol ensures that the data transferred from your computer to their server is encrypted and safe from hackers. You can also view their security certificate on their website.
b. Availability of Essential Features
An efficient invoicing solution will easily allow you to:
Create and manage customer records and purchase information on a centralized database in a secure manner
Enable quick payments by processing credit cards promptly and allow recurring billing
Create high-quality, professional-looking, and customizable invoices with predefined templates
Categorize and track costs and transactions according to projects
Manage inventory, stock movements, and wastage
Settle accounts by importing banking transactions
Create and record purchase orders
Record voucher entries
Integrate seamlessly with payment gateways
Manage customers and vendors list
View balance sheet, account payables and receivables, profit and loss statement, and tax statements
Receive multi-lingual and multi-currency support for issuing receipts, accepting payment and managing taxes
Send quotes to customers from a centralized database
Add team members and grant access control
c. Ease of Use
Not all business owners are well-versed in accounting, which why an invoicing suite becomes a necessity. Even with a dedicated accountant in place, business owners should be able to view and make sense of the financial information without any trouble. Ensure you get an easy to use software with a clean user-friendly interface that allows you to focus on business-critical tasks.
A lot of business owners make the mistake of thinking short-term and buy software that fails to support the needs of their growing operations. This slows the progress and forces entrepreneurs to migrate to other software, which can be a hassle. It is, therefore, prudent to get software that scales with your business needs. Go for one that offers free entry-level features and can be upgraded to an advanced fully-equipped paid version, which you will need in the future.
Having an ingenious invoicing software in place can certainly help small businesses streamline their processes and work better with clients. From automating invoices and organizing data to receiving payments safely, online invoicing solutions can do it all. The kind of system you need depends entirely on your business goals and the kind of legacy software you have been using. Use the above information to make an informed decision and propel your business towards success.
What kind of challenges did you face when picking an invoice management system for your business, and how did you overcome them? Do let us know in your comments.
The majority of people love to travel, which is why you may think that travel marketers have it easy.
Well, the truth is that the opposite is the reality, because the travel industry competition is stiff and fierce. That’s not to mention that things fluctuate greatly between seasons and between destinations, which complicates things even further.
But even with the travel industry expected to grow even further and competition getting even more fierce, the truth is that marketing your travel business also doesn’t need to be as difficult as you may have initially suspected.
These are the seasons when people are the most likely to book for travel, with a nearly 30% increase in travel searches during this time. Specifically, December, January, July, and August are the top four months of the year when people are booking the most flights and hotel rooms.
Therefore, these are the months of the year when you will want to be focusing your marketing efforts the most intensely.
2 – Bid Lower During Those Months
While you may think that you should bid higher during those months when people are going to be booking far more flights and hotel rooms, the truth is that’s the exact same strategy that most if not all of your competition is going to be using as well. Instead, bidding your prices just a hair lower can be the best strategy to stand out more and gain you more sales. Just don’t bid too low, because you still want your business to turn out a profit.
3 – Be Informative
It may be a good idea to be informative and to go as far as to start a blog about travel tips and advice. That way, people may find out about your travel agency or business through your blog first. Just make sure that your blog truly is informative and educational. Beyond generic subjects like ‘top travel tips for beginners,’ you can get more serious and specific with subjects such as visa application rules by country or the best hotels by city.
4 – Be Visual
A major mistake that travel agencies make these days is that when marketing, around two thirds of all advertisements are just dull text ads.
When people are traveling or planning to travel, they don’t just want to read or hear about the destinations. They want to actually see those destinations. That’s exactly why images and videos need to dominate your websites, mobile apps, and advertisements all at the same time in order to make them significantly more captivating.
Travel Marketing Tips
All in all, these are the top four travel marketing tips that you will be unwise to ignore: marketing the most aggressively during the summer and winter, bid lower if possible) to stand out more, be informative and educational in your website, and be visual in your advertisements.