Exploring the Marketing Secrets Behind the Fastest Growing B2B SaaS Startups of 2023
The B2B SaaS (Software as a Service) industry is one of the fastest growing sectors in the world, with a projected $157 billion market size by 2023. With the rise of cloud computing, more businesses and individuals are turning to SaaS solutions to increase their operational efficiency and reduce costs.
Year after year we see new SaaS startups hit the market – some taking off and becoming household names, and others falling to the wayside never to be heard from again. As you look to grow your own B2B SaaS company, you’ve likely questioned what makes a SaaS company thrive in a competitive market.
Let’s take a look at some of the most rapid-growing SaaS startups in the U.S. and what makes their message stand out.
HubSpot is one of the world’s fastest-growing companies right now, and anyone in the marketing and sales space for B2B SaaS companies has likely worked with this product or at least heard of it. HubSpot is a comprehensive marketing, sales and customer service platform for businesses looking to streamline their operations while collecting valuable analytics on their marketing and sales performance.
Hubspot is growing so quickly because in addition to being a one-stop shop for all things sales and marketing, it has an intuitive user interface that empowers professionals to easily keep data up to date so they have one source of truth across the organization.
This B2B SaaS company has proven that they understand the pain points and needs of their specific target audience. And they have done a fantastic job of blogging about it to establish thought leadership in this space. It’s hard to research a digital marketing topic and not see Hubspot come up as one of the first organic rankings and this is all due to their focus on SEO and their buyer personas.
As opposed to building functionality that isn’t needed or too cumbersome to implement, they’ve designed a product they know their specific persona they serve is looking for. They’ve carved out a niche for themselves as THE marketing, sales and customer service platform to use when you don’t need the heavy weight of the enterprise competitors … and that’s great SaaS marketing.
While Shopify has been around a little longer than some of the other companies mentioned here, it set the record for generating $1 billion in revenue faster than any other SaaS company. With those stats, it couldn’t not make our list.
How did Shopify grow so fast? It’s not what you may think. Shopify saw a huge need in the market for sellers to have a place to market and sell their products. It wasn’t a brand these business owners were looking for, but instead it was the actual technology behind the brand that they needed. Shopify answered that call by creating a platform that emulates a seller’s personal store without all the development headaches that come with it.
When it comes to businesses growing their online stores, Spotify jumps in to solve that problem as well. From website design to SEO and social media, Shopify has an extensive offering of eCommerce marketing tools to help businesses not only build a store to sell their products, but optimize it for more traffic and conversions.
What can we learn from a B2B SaaS company like Shopify? Look for the giant holes in a market that need filling. Anything that is a significant pain point for an audience that isn’t being solved by another company (or isn’t being solved well) is a huge opportunity for an aspirational startup.
Workday is a leading SaaS startup in 2023. It provides a cloud-based platform for businesses to manage their human resources, finance, and payroll. Workday provides a comprehensive and secure platform for businesses to manage their HR and financial operations. With its innovative technology, businesses are able to easily access and manage their data, and create an environment of trust and transparency to increase efficiency, reduce costs, and improve employee engagement.
Workday knows that any implementation of a new solution can cause headaches for an organization. This is especially true when the steps are confusing or difficult. This is why Workday has made tutorials, videos and webinars a big part of their offering. That guidance makes marketing their solution to their apprehensive prospect base much easier, something any B2B SaaS company can learn from. Here at Leadit Marketing we know valuable assets and information are a huge part of bringing prospects over the line into paying customers, especially when that content relieves a very specific implementation pain point.
Its insights and data that makes Workday so valuable, because the best investments for a business are the ones that can logically help drive strategic decisions based on cold, hard data.
Another SaaS company to keep your eye on in 2023 is Zendesk. Zendesk is a customer service and support platform that has been around since 2007, so it’s one of the more established companies on our list.
With its multichannel support capabilities, Zendesk has become one of the most popular customer service solutions on the market. The company’s growth is driven by its ability to provide customers with a personalized and timely support experience.
This is another key example of a SaaS company listening to the pain points of the market to build a solution around it. Companies need better customer service platform capabilities and Zendesk provided that. They also went to market with a comprehensive digital marketing strategy, interacting with prospective customers through channels like LinkedIn, Twitter, Instagram and YouTube to showcase the value of Zendesk and how it improves the customer journey.
B2B SaaS Companies Thrive with Smart Digital Marketing Strategies
What can we learn from these star B2B SaaS companies when it comes to how they market to their target audience?
- Understanding the biggest pain points and stressors of your audience, and speaking to those in your marketing, can help a prospective customer see the value of your offering more quickly and with less objections.
- Digital marketing can be a powerful tool to not only reach your target audience but to showcase the value of your product.
- Representing your offering and showcasing how easy implementation is through assets like blogs and videos can kick off a potential relationship more quickly by showcasing your commitment to customer success.
- Focusing on Search Engine Optimization (SEO) helps prospective customers to find your solution for the challenges they are looking to solve right now.
Here at Leadit Marketing we know what makes a SaaS company grow. We speak to the specific needs and pain points of the personas we identify in your prospective markets. And we capture and keep that interest through value-driven content. To learn more about how Leadit can help you make this list, book a complimentary consultation.