The SaaS industry has increased in size by 500% over the past 7 years.
New SaaS Start-up companies come up with amazing SaaS Tools every week. Some SaaS Start-up companies land right with their target audience and skyrocket their sales in a few quarters.
Whereas, many other SaaS founders, especially the bootstrapped ones, are inventing, reinventing, and finding ways to market and grow their SaaS Start-up.
Among the several marketing and growth strategies, launching a SaaS LTD should be the most effective one for under-funded and self-funded SaaS Start-up companies.
This article will help you find out whether your SaaS Start-up company is qualified to launch a SaaS Lifetime Deal or not.
But should you run a SaaS Lifetime Deal campaign for your SaaS product? Why?
Aren’t there other effective growth strategies for a SaaS Start-up?
Here are the reasons why you must launch a SaaS Lifetime Deal campaign for quick growth.
Why Do SaaS Start-up Companies Launch Lifetime Deals?
A start-up company needs networking and funding to grow and become successful.
Networking helps you explore new areas and discover a potential target audience. Whereas enough funding allows you to keep going and try new strategies in acquiring new customers.
Any SaaS Strat-up that lacks a potential user base and the resources to pursue them will struggle to survive in the SaaS market. For bootstrapped SaaS Founders feel the pressure of building a successful SaaS Start-up more than anyone else.
The Catch -22 of Every Bootstrapped SaaS Start-up
There are a few growth strategies that allow SaaS Founders to get either funding or new users for their SaaS products.
However, they often find themselves in a Catch-22 situation which makes growth a far-fetched idea.
You may spend money on multiple marketing campaigns hoping to reach potential customers (users). Or if you have an estimate of user-base growth based on the track record, you may pursue an angel investor to fund your SaaS Start-up. i.e., you need SaaS product validation.
The challenge is that most SaaS Strat-up companies are bootstrapped and they struggle to get their SaaS product off the ground.
Who will be the users of your SaaS Tools and how do you reach them? Will your target audience bother paying a monthly subscription to use your tool?
Should you go all in marketing your SaaS Tool? What if you need to pivot your SaaS Start-up? Will it be economically feasible for your business?
Lifetime Deal Campaign: A Reliable SaaS Growth Strategy
SaaS Start-up companies use the Lifetime Deal campaigns as their breakthrough growth strategy.
Many SaaS Start-up companies are beginning to adopt Lifetime Deal campaigns as they are reliable.
They also offer immediate results, which are crucial for bootstrapped SaaS Start-up companies. Excellent brand exposure, an influx of new users, product validation, and quick cash inflow are some of the several benefits of running a SaaS Lifetime Deal campaign.
If you are a SaaS founder, you may ask yourself: “How do I know my SaaS Start-Up is qualified to launch a lifetime deal?”
Well, here are some that make your SaaS StartUp qualify to launch a SaaS lifetime Deal.
Is your SaaS Start-up Ready to Launch a Lifetime Deal Campaign?
It is the first question that pops up in a SaaS Founder’s mind when they think about SaaS lifetime deal campaigns. Let’s find out.
1. Have A Functioning and Efficient SaaS Tool
Let’s get the obvious out of the way. A functioning, efficient SaaS Tool is a prerequisite to launching a SaaS Lifetime Deal campaign.
You need to define what is a functioning SaaS Tool to avoid any unpleasant surprises with your SaaS Lifetime Deal Campaign.
A functioning SaaS Tool solves one problem and does it efficiently. It is the bare minimum expectation from SaaS Lifetime Deal buyers around the globe. Your SaaS Tool is likely to get the Lifetime Deal buyers’ attention when it is simple and efficient. Simple is a keyword here.
Your SaaS Tool does not necessarily have to be feature heavy. Instead, a good user experience will make your SaaS Tool a user favorite. One of the best things about launching a SaaS Lifetime Deal campaign is how fast a SaaS Start-up becomes an easily-recognizable brand.
You should also note that your SaaS Tool does not necessarily need to be perfect. Or better than your competitors in every aspect.
Even if your SaaS Tool has a minor bug, without affecting the core functioning, you may go ahead and launch a SaaS Lifetime Deal Campaign.
2. Must Have Easy-to-Understand Use-Cases
Easy-to-understand use-cases can make or break your SaaS Lifetime Deal launch and your SaaS brand.
Use-cases communicate the effectiveness of your SaaS Tool to your audience. When your audience understands how your SaaS Tool can help them they can make an informed decision. It helps your target audience with product identification and making a quick purchase decision.
Also, when your audience understands your use case, they will feel more comfortable using your SaaS Tool and buying your SaaS Product. It helps initiate a positive user experience and build a good customer relationship.
In the long-term, it allows SaaS Start-up companies to upsell and cross-sell their services.
Another significance of having easy-to-understand use-cases is identifying the usage range of your SaaS Tool. As a SaaS Founder, you may have shown use-cases for your SaaS product in two or three unique situations.
However, getting user feedback from your users can help you get actionable insights and other potential use-cases for your SaaS Tool.
One of the easiest ways to communicate use-cases is by positioning your SaaS Tool as an alternative to your competitor’s. It helps your audience quickly understand your SaaS Tool and start considering a purchase.
If you have an easy-to-understand use case for your SaaS product, you are more likely to reach your target audience better. It helps you to get the most benefit by launching a SaaS Lifetime Deal Campaign.
3. Have A Unique Value Proposition
The value proposition is the main reason why people buy your SaaS Tool over others. The value proposition is the key differentiator between your SaaS Tool against your competitors.
It tells your audience what makes your SaaS Tool special. You can tell your audience what sets you apart from your competition. This is where you can show off your SaaS Tool’s features and benefits.
It helps you stand out from your competitors. If you do not have a strong value proposition, your audience might think that your SaaS tool is just another similar tool.
One of the easiest ways to create a unique value proposition is by understanding how your SaaS Tool differs from your competitor’s. However, if you have too many competitors, say a project management tool, you may have a hard time coming up with your value proposition.
If you have a unique value proposition, your SaaS Start-up is ready to launch a SaaS Lifetime Deal campaign.
4. Your SaaS Tool is Not Limited to a Narrow Niche
Your SaaS Tool should be able to address multiple business problems. Or it should have the potential to address the problems of multiple businesses.
If your SaaS Tool serves a narrow niche, your target audience also shrinks sizeably. A narrow niche means that your SaaS Tool only addresses one specific problem for a specific industry. For example, if your SaaS Tool helps, say auto services business, its use case is limited to only them.
A smaller market will make it harder for your SaaS brand to penetrate and make conversions. Moreover, you cannot create a consistent MRR by launching a Lifetime Deal for a narrow niche.
As a SaaS founder, if your SaaS Tool is for a narrow niche, launching a SaaS Lifetime Deal is not for your SaaS Start-up.
But if your SaaS Tool addresses a problem faced by businesses irrespective of the niche, you can go ahead and launch a SaaS Lifetime Deal.
5. A Dynamic Team Behind The SaaS Tool
You need to ensure that your team behind the SaaS Tool is dynamic and agile enough to keep up with the changing needs of your customers.
For example, if your SaaS Tool has been launched recently, you need to hire new members who can take care of customer support issues. This way, you can avoid losing existing customers due to a lack of support.
Launching a SaaS Lifetime Deal can bring an influx of customers. It may at times flood your customer support lines with queries and tickets. If you have a team that can take care of customer support in such times, you can get the most out of your SaaS Lifetime Deal campaign.
The above are some of the factors that you must consider before deciding whether or not to run a SaaS Lifetime Deal campaign.
Your SaaS Tool is more likely to qualify on all these factors to launch a successful SaaS Lifetime Deal campaign. However, if you are unsure about any of these or if your SaaS Tool appears to be on the borderline, you can discuss it with a SaaS Lifetime Deal campaign expert.