2023 research report on how SaaS companies identify potential customers
How do SaaS companies pinpoint potential customers? What data do they consider? Which tools do they use? And what obstacles do they face in the process?
Hello folks! We are excited to show you the research report we’ve been working on for the past few months to understand how companies know if a new user is a potential customer.
We’ve run a survey at UserMotion and reached out to a range of SaaS companies to ask the big questions: "How do they pinpoint potential customers? What data do they consider? Which tools do they use? And what obstacles do they face in the process?"
You can see the full report with more detailed insights by going to the article now…
…but for whom want to digest it quickly, we’re breaking it down here for you!
This report includes insights from 100+ experts from EcoSend, Ling, Shopiroller, Producter, Hubstaff, SnackMagic | SwagMagic, Proteus, Qooper Mentoring & Learning Software, AnnounceKit, Monitask.com, Contento, Desku.io, Elemeno Health, QuickPoint, and more.
Special thanks to Simon Bacher, Russell Vaughan, Arif Çağlar, Shaunak Amin, Ferhan Gül, Alan Gleeson, Diana Stepanova, Geoff Whiting, Lisa Crounse, Kuba Bajda, Omer Usanmaz, Gaurav Nagani, Liz Westendorf, and more for providing invaluable insights!
How do companies understand if a new user is a potential customer?
The majority of the responses emphasize the importance of various data points in identifying potential customers. These include:
Monitoring user behavior and engagement: Respondents commonly mentioned studying users' engagement with the product features, browsing behavior, sign-up process, and interactions with their website's different pages.
For instance, Arif Çağlar from Shopiroller mentioned monitoring the progression of users in the sales funnel, while Liz Westendorf from QuickPoint highlighted the value of tracking the number of site visits.
Fit with the Ideal Customer Profile (ICP): Several responses highlight the need to match new users with an existing ICP based on various criteria, such as demographics, company, and job title.
Kuba Bajda from AnnounceKit shared that they check their ideal customer profile (ICP) and look at factors like company industry, size, and geographical location. Amy Pickles from Xergy also suggested looking at the user's company and job title to determine if they might be decision-makers.
Usage of data analytics tools: Respondents also suggest leveraging data analytics tools to enrich user information and monitor their behavior.
"Really, I think the only way to find out is with good data and analysis. When a new user signs up, you should enrich their information so you can check if they meet your ICP and then look at their behavioral data to see if they are a "product-qualified lead." Russell Vaughan from EcoSend.
What data points do they think are important?
What do they use to get this kind of information?
What challenges do they encounter when understanding possible customers?
You can see the full report with more detailed insights and extras by going to the article now!