The SaaS market is becoming more competitive. According to Gartner, the SaaS market has exploded and is growing from $31 billion in 2015 to an anticipated $171.9 billion in 2022.
Despite the current state of economic instability, some analysts predict that there will be up to a million SaaS businesses in the next ten years.
How does it affect your SaaS company? Adopting only one or streamlined marketing strategy will help you promote your services and draw in more customers to help you stand out. But with SaaS affiliate marketing, the result may be multiplied.
How? Well, through this post, we define what affiliate marketing is and share complete advice on ways to utilize it successfully to build your SaaS company’s brand, spur growth, and scale it.
A marketing channel known as affiliate marketing involves choosing people or organisations to market your company’s name, goods, or services in exchange for a commission.
An affiliate, often referred to as a publisher, uses a special link or promotional codes to direct leads to your website. An affiliate is paid each time a potential customer clicks on this link and makes a purchase on your website or signs up for your services.
When done right, this kind of partner marketing increases sales and brings in a sizable amount of money online. Both brands and affiliates profit from it. As a result, affiliate marketing campaigns are becoming increasingly popular.
Note : Not all conversions may be attributed to affiliate marketing. As it helps to grow and scale your business.
SaaS affiliate marketing is a useful, low-risk business expansion approach, and it also has the following benefits:
Affiliates can advertise your company by connecting with potential customers on their blogs, forums, social media accounts, online communities, groups, and other platforms. It implies that you have easy access to dozens of new traffic channels and all of their advantages.
SaaS affiliates are constantly looking for new methods to make money off of the trust they have already established with their readers, subscribers, and followers. An excellent strategy to drive targeted traffic is by selecting relevant affiliates whose audience connects with your company.
An affiliate program can be operated with no initial outlay of funds. Instead, you pay for actual conversions, increasing your ROI and simultaneously lowering your customer acquisition cost (CAC).
Improved ROI and lower CAC are especially valuable to startup SaaS organizations in the early phases of growth when they want to draw in new investors, even though revenue growth is an affiliate program’s ultimate goal.
In your program, you should specify that your company’s name, logo, and branding appear on the websites of your affiliates.
This strategy improves your brand’s visibility, raising the likelihood that prospective customers will become aware of you. And after learning about you, they’ll be more likely to subscribe when they know about you from a trusted source.
There is no need to engage more sales representatives to keep up with the growing demand when affiliates are supplying leads.
Instead, only increase the number of top-notch associates and take pleasure in the outcomes. Affiliate marketing enables you to start with low costs and scale up later without worrying about blowing your budget.
Marketers and content creators love SaaS affiliate programmes for a variety of reasons. Free trials for SaaS products are quite appealing since website visitors brought in by affiliates are more likely to join up if they can try the service out first.
Yes, affiliates may not receive a commission until leads turn into paying customers, but the likelihood that they will be compensated is higher because it is simpler to turn free users into paying customers than to convince them to pay up front.
Here are some KPIs you can track, as examples:
You can start, run, and improve your own affiliate or referral networks using affiliate tracking platforms. The majority of tracking solutions have a wide range of features that enable campaign customization for every company purpose. Advertisers can simply compute commissions, measure conversions, and save affiliate-related data under one hood thanks to extensive dashboards and real-time statistics.
Things To Consider:
Pricing. Compare various tools to see which has the best price-to-feature ratio. You may easily choose the pricing plan that best suits your needs because the majority of affiliate tracking programmes offer a variety of options.
Integrations. Pay attention to the products that have rapid, ready-made connections with your platform if you lack technical knowledge and want the software to work right out of the box.
Features. Make a list of the features you absolutely require and check to see if the tool you are considering has them. Software like Trackier Performance Marketing Software may be required for a SaaS product in order to set recurring or lifetime commissions and obtain comprehensive reports on each affiliate segment.
Onboarding and assistance for customers. To swiftly launch your programme, use a technology that delivers excellent support, simple onboarding, and product training.
When you handle your affiliate program with the proper resources, it may produce fantastic results for your SaaS business.
If you need assistance with our product or any questions or queries regarding SaaS Affiliate Marketing, feel free to reach us. We would be happy to help.