Why branding your SaaS company is important
Did you know that it is ten times faster to build a software company today than it was in the past? With the increasing number of deployable infrastructures such as Amazon Web Services (AWS) and readymade website developers, everyone can easily start a business within a day or even less. Find out why branding your SaaS company is important.
If you do not believe us here are some numbers. Priceintelligently surveyed SaaS founders and found out that companies that started in 2011 faced an average of 2.6 competitors in their first year of business. This number increased to 4.8 in 2013. 3 years later a business in its first year had 9.7 competitors.
The increasing level of competition leads to higher expectations of customers. The quality of products and features hereby are the main players.
SaaS is birthing more SaaS. This is caused by people starting their own SaaS products. Many engineers quit their job at startups and start their own companies. This is not an uncommon event.
There is a lot of information about SaaS businesses online. A lot of people who founded, funded, work or worked at a SaaS company like to share their experience and tell people how to start their own software company, run and grow it. This is usually done through blogs.
You should always keep in mind: increasing competition affects each and every area of your business.
So let us speak about the importance of branding in a highly competitive market.
You may wonder how can even branding help my company to succeed? Building a strong brand alone for your Software as a Service helps you to set your business apart from competitors. It may seem too difficult to measure the effectiveness of a solid branding related marketing strategy, it is worth it. Keeping your brand at the top of the mind of current or potential customers always has its benefits. Your brand name becoming recognised in your niche will help you to be known as a dominant player in your market.
Branding may sound easy but it definitely is not. Especially when you are better at leading your SaaS company. Many businesses in that market hire branding and marketing agencies such as 3 Colours Rule to create an iconic brand.
When your Software as a Service is branded correctly, customers will know the importance of it. Clients want and demand a practical and remarkable experience from software. By branding it, you will show how valuable your service actually is.
Putting the focus on the value you are delivering to customers is the key.
How will your SaaS make their life easier? The remarkable experience you will give your customers should be the frontrunner. Focussing on new tactics and marketing channels for SaaS have their place as well to achieve success. However, branding is the one that will help you stand out and get noticed on different social media channels, blogs and websites
By giving customers a good experience they will help your company to gain credibility, trust and you will become familiar with many more people. Giving your customers this great user experience will also boost loyalty and they will keep returning back to you. However, if this experience is not good, you will lose the great results you could have achieved. Branding is important. “You miss 100% of shots you don’t take”. And branding is one you definitely should take and need to take for your business to be successful.
Of course, marketing and branding are about building a connection with your target audience on a personal level. Once you have achieved that, you will resonate with them on a much better level and they will become more willing to find out about your products or services. A lot of businesses actually struggle with this brand recognition but once they get it, they are much more successful. Reaching out to people on a mass number is not a problem for them anymore. Once you get this recognition, the focus on interruption marketing can be eased as people will seek you out. They will keep your brand in mind and search for you on Google or even type in your website link to find out more about your offerings.
The biggest advantage of brand recognition is the trust that is followed by it. Customers will view your company as a trusted source for high-quality products and services and will, as mentioned above, be emotionally connected to your brand. Most of the time, word-of-mouth follows. Customers will tell their friends, family, colleagues and many more people about your brand. This level of recognition is the goal of every business.
Once you establish your brand, consistency is very important.
Promises that are made have to be kept. If you do not keep them, you will lose the trust of your customers or potential ones. Getting that trust back a second time is nearly impossible.
It is easy to get caught up with the excitement of running a business and not realise how much it takes to get things up and running well. Most entrepreneurs find it more difficult to attract customers than they anticipated. Here is the easy three-step process that you can use to get more customers, scale up your business, make more money, and attract your dream customers.
Phase 1: Distinguish
Every company needs to articulate their uniqueness, to distinguish themselves from the competition, and to attract and convert more prospects into clients.
Phase 2: Attract
People love to buy brands, when we are faced with too many options we go for what we know. A great brand can signify quality and inspire confidence.
Phase 3: Convert
People don’t know what they want until you show it to them. When you listen to their problems your prospects will listen, and when you talk about the solutions your prospects will buy. When you get this, it will change your life forever.
Our agency provides success-proven solutions for every stage of your customer relationship building following our successful brand growth methodology. Contact us today!
Liked this article? Why not read “Why brands fail”
If you would like to receive a complimentary brand assessment with the 3 Colours Rule agency
Would you like to find out what is preventing your brand from achieving your business goals? What if during a 30min call with us we could identify the areas of your brand that need improvement so that you can attract the right clients? We will use our D.A.C. (Distinguish, Attract & Convert) (explained in our YouTube video) growth system to swiftly evaluate your brand strengths and weaknesses. We will provide you with directives and your brand score so you can measure your progression. 3 Colours Rule will help you find your USP that resonates with your audience.