LinkedIn is probably on some publishing crack – recently, LinkedIn has published another new overview of emerging software-as-a-service (SaaS) market trends, which looks at how SaaS providers can maximize their marketing performance, despite the broader market downturn which could see reduced customer acquisition results.

Feeling SaaS(sy)

As LinkedIn notes, despite the broader economic downturn, investments in SaaS services continue to increase and are expected to grow from $17.6 billion in 2022, to $208 billion by the end of 2023. However, much of this spending will come from your existing client base, and LinkedIn’s new 15-page guide explores how businesses can tap into this potential, thus maximizing their performance through the app.

The guide first looks at the more recent SaaS market downturn, and not that’s changed approaches for SaaS marketing teams. Essentially, the guide explains how the focus has shifted from investing in customer acquisition, to also ensuring long-term viability and expansion for SaaS clients, with vendors benefiting from building out their approach, and not limiting their marketing focus to just acquisition.

It does make sense, but as the report notes, many SaaS providers have not integrated their approach in this way, which is where the key opportunities lie right now. The report then looks at the opportunity of LinkedIn specifically, and the reach that LinkedIn provides to SaaS founders and decision makers. The ‘Golden Era’ for SaaS customers on The platform was between 2010 – 2019 (56%).

There are also more specific notes on the role that LinkedIn can play in the connection and promotion process, with tips on the different LinkedIn ad types that you can use in your pipeline. There’s even an included checklist for leveraging LTV.

The primary message, as noted, is that SaaS providers need to reallocate their marketing budget towards building their brand, by working with existing customers (vis-a-vis content marketing), while also doubling down on focusing on upsells and cross-sells to maximize opportunities.

The Wrap

With fewer direct buyers in the market, as a result of stagnated budgets, the report suggests that there’s more opportunity in incorporating your marketing approach to cover both prospective and existing customers, which could deliver greater results.

As always, there are some interesting trend notes here, along with some LinkedIn data points to consider. If you’re an SaaS provider, it’s worth taking a look at and pondering about the current state of your marketing plan.

Sources

https://bit.ly/3oEgi7d