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What Is a B2B SaaS Go-To-Market Strategy?
In today’s competitive market, having a strong and effective go-to-market strategy is paramount to successfully launching and growing a B2B SaaS product. Whether you are a new player entering the market or a seasoned veteran launching your sixth product, a well-planned and executed strategy can help you achieve faster traction and increased customer loyalty.Â
A comprehensive B2B SaaS go-to-market strategy encompasses multiple aspects, such as identifying the target audience, understanding the competition, creating a compelling value proposition, defining distribution channels, and creating effective marketing campaigns. Furthermore, a go-to-market strategy is not a one-time activity, but a continuous process that needs to be adapted and improved over time.Â
The tips and examples provided below can help you create a winning strategy that can drive your product’s success and increase your customer base, irrespective of where you are in the launch life cycle.
B2B SaaS go-to-market strategy definition
B2B SaaS, which stands for business-to-business software-as-a-service, has become an increasingly popular option for organizations that provide software to other companies. These services can come in the form of standalone software, mobile applications, browser extensions, and other add-ons, all of which are delivered via the internet or cloud-based network.
To help companies achieve their goals of generating revenue and achieving profitability, it is essential to have a well-crafted go-to-market strategy that is tailored to their needs. This strategy should include a variety of tactics and techniques designed to engage with and attract the ideal audience, as well as to establish a strong and loyal customer base. With a comprehensive go-to-market plan in place, B2B SaaS companies can improve their chances of success and solidify their position as leaders in their industry.
To create a successful go-to-market strategy, companies need to:
- Identify their end-user companies
- Craft compelling messages that highlight how their product solves their problems
- Establish appropriate pricing, sales, marketing, and distribution strategies
Why do you need a B2B SaaS go-to-market strategy?
A go-to-market strategy for a B2B SaaS company is significantly different from strategies created for companies that sell physical products or services.
Customer experience
SaaS businesses offer intangible software services to other companies. Their goal is to provide exceptional software services and continuously improve. They don’t focus on tangible products but offer high-performing software to meet user needs.Â
They innovate to benefit clients’ operational processes and establish their reputation. SaaS businesses use a strategic go-to-market plan to highlight their services and quality. It’s important for them to deliver exemplary services and keep up with market trends.
The customer is a company
End-users for SaaS companies are other businesses using their software, not individual customers. Therefore, when creating a sales strategy, teams must identify the nature, size, and industry for prospects along with their decision-makers.
Diversity in marketing options
One way to achieve this goal is through the implementation of outbound marketing strategies. These strategies are highly effective and can help businesses reach their target audience through a variety of marketing channels. For instance, direct mail is a fantastic way to get in touch with potential clients, as well as cold emailing and making direct calls to company representatives.
By combining these approaches, businesses can develop a well-rounded marketing plan that will help them achieve their goals and remain highly competitive in their industry of choice. It’s crucial for businesses to continually evaluate their marketing strategies and make adjustments based on changing trends in the market to stay relevant and meet the evolving needs of their target audience.
Company size matters
It is worthy of note that the go-to-market strategy employed by a small start-up will be significantly different from that utilized by a large enterprise. Hence, it is imperative to properly analyze the size and nature of a company, as well as the kind of strategy that would best suit the company’s objectives. With a sound knowledge of these factors, we can optimize our go-to-market strategy and position our business for success.
B2B SaaS go-to-market strategy example
TaxJar is a leading B2B SaaS company that specializes in providing cloud-based sales tax compliance software solutions for e-commerce businesses. The company has been successful in identifying a gap in the market, which is the need for specialized sales tax content for e-commerce and online sales. With this in mind, TaxJar has implemented a highly successful go-to-market strategy that includes content marketing as a crucial element to reach their target audience.
The company has been experiencing tremendous growth, with a year-on-year increase of 100%. This impressive growth is indicative of the effectiveness of the company’s GTM strategy, which has helped them to acquire and retain 10k customers. The success of TaxJar highlights the significance of having a well-crafted GTM strategy, which should incorporate elements like content marketing to achieve the desired results. In essence, TaxJar’s success can be attributed to their focus on meeting the unique needs of e-commerce businesses and providing high-quality solutions that address their pain points.