SaaS is the trend that is dominating the world of digital marketing. It is becoming the top choice for businesses and organizations for its reliability, functionality, and cost-effectiveness. This market is expected to grow to $94.9 billion by 2022, but the numbers are likely to increase due to the Covid 19 pandemic.
What is SaaS?
Software as a service or SaaS is a cloud-based software licensing and distribution model. SaaS companies host a centralized platform or application accessible to customers over the internet, usually through web browsers. SaaS products commonly run on a subscription-based model. Products can range from streaming services like Netflix and Spotify to automated accounting software like Quickbooks.
SaaS works through the cloud delivery model, and its taking over the market. Independent software vendors (ISV)s usually use a third-party cloud provider to host the application. More prominent companies like Microsoft with more resources tend to play both roles themselves. But for most SaaS vendors, third-party cloud providers are budget-friendly and reliable.
In the simplest of terms, SaaS products allow customers to access softwares, applications, etc., without the time-consuming and expensive task of setting up, installing, and maintaining their software. It's a tailor-made solution for most businesses.
What are AI-Based SaaS Products?
The use of AI in digital marketing has revolutionized B2C marketing through targeted content, recommendations, and the implementation of algorithms. 55% of CMOs expected AI to have a bigger impact on marketing than social media in 2018. The August 2019 CMO Survey confirmed that corporate marketers reported a 27% increase in the implementation of AI and machine learning (ML) in marketing toolkits compared to six months prior. Marketers projected a 59% increase in the use of these tools from 2019-2022.
AI and Machine Learning are mainstream in the world of marketing. It holds the power to increase the proficiency of applications and software radically. It's impossible to envision a future without the influence of AI and ML in the business world. AI-based SaaS products are centrally hosted platforms that use artificial intelligence and machine learning to have better output.
Why Use AI-Based SaaS Products for Marketing?
- Accessibility : The biggest benefit of software as a service is that it can be accessed through the internet. The hosted platform can be availed through Android, iOS, Windows, MacOS, Linux, and any device that uses a contemporary browser.
- Cost Efficient : Businesses are relieved of the big expense of buying hardware or installing software. If companies want to buy their hardware, then added costs include hiring professionals for setup and maintenance. SaaS products offer a variety of payment models. Price models differ for the type of service customers want to avail. It's similar to how Netflix has different price options for the amount of screens you want to watch at the same time. The range in pricing helps small businesses and startups to use helpful software they wouldn't be able to afford otherwise.
- Updates and Security : Users get access to bug fixes and regular updates in the application without having to manually download it. The SaaS provider is responsible for securing the platform and making sure your data is safe. Providers include pre-existing disaster recovery protocols to manage potential system failures. This means that your data will be secure regardless of a data breach or system failure. This means that your data will be secure regardless of a data breach or system failure.
- Personalization : Software is easier to use with technologies like natural language processing (NLP) , which automatically processes human speech patterns and voice control. This can be used in customer service functionality to improve customization and address client needs better. AI-based software can learn from every task and interaction, gaining a greater intelligence and efficiency level in the process. It also understands contextual data and insights better.
- Faster Results : AI-based SaaS speeds up internal processes and operations, allowing businesses to obtain fast answers to questions, make quick forecasts, and speed up their overall responsiveness level.
Top 5 AI-Based SaaS Products for Better Marketing in 2022
We've been hearing about the perks of using AI-based SaaS products for a while now. But when choosing a SaaS product for your business, it's easy to get confused. With the SaaS industry getting bigger and expanding the types of services they can offer, saying there's a lot to choose from is an understatement. So, we've compiled the top 5 AI-based software as a service product in 2021 for you.
Customer Relationship Management (CRM) systems are vital in the digital marketing sphere. And Salesforce has been on the top for almost 20 years. By 2018, Salesforce was ahead of its rivals like Adobe, Microsoft, Oracle, and SAP, with $10.48 billion in revenue representing a 19.5% market share, more than double their closest competitor SAP. Salesforce is viewed as the fastest-growing marketing segment among its top-five competitors.
As the company defines itself, Salesforce is a customer relationship management solution that brings companies and customers together. The cloud-based SaaS allows companies to track analytics, customer success and support, customer complaints, and a variety of other CRM functions with the ease of cloud storage and access from wherever. Building and maintaining relationships with your customers is key in holding on to them. Salesforce improves the overall experience of your consumers and increases brand loyalty.
According to their website, companies that use the software see average increases in a variety of areas. An average 27% increase in sales revenues, 32% increase in lead conversion, 34% increase in customer satisfaction and a 56% faster deployment. is seen.
Social media takes up a huge chunk of virtual spaces. It's easy to reach your targeted audience and expand that audience because of users' sheer volume. It would be wasteful for businesses and startups not to utilize social media marketing to its fullest potential.
Even if you have a good enough social media presence and marketing strategy, it takes careful planning not only to curate content but getting the timing right. This is what Buffer excels at. Buffer is a SaaS social media toolkit that lets you schedule posts, get in-depth analytics, and recommends strategies. Their toolkits let you schedule up to 2000 posts on 25 different social channels, get reports, analytics and more. Their Pro Plan is ideal for startups and small businesses. For only $15 a month it spares them the more expensive cost of hiring social media managers.
If you're looking to improve your inbound marketing and customer relationship management (CRM), HubSpot is the way to go. Inbound marketing, a term coined by HubSpot themselves is a marketing strategy that attracts customers by creating content and experiences tailored for them. Inbound marketing helps to connect with your audience and form lasting relationships.
HubSpot offers a variety of software designed to improve marketing, sales, content management, and customer service. Their services include Marketing Hub, Sales Hub, Service Hub and CMS Hub. Each software is built to target and improve that specific area of CRM. You can also getl all four of them together in their Growth Suit plans along with additional tools to make the deal sweeter. Hubspot uses the flywheel business model to implement strategies that can attract strangers, engage with prospective customers and delight existing customers and promoters.
Intercom is a business messenger built to improve CRM in an unconventional way. Unlike other CRM software, Intercom focuses on customer interaction through conversation. Intercom believes in creating a friendly and holistic approach to marketing.
The platform offers business messengers, management tools ,customer data platform and integration. Their services include conversational chatbots, live chat, outbound email, in-product messaging, product tours, and a lot more. Their solutions focus on conversational marketing, customer engagement, and support. Check out their solutions here, and you can choose the one that fits your business best. They have options for small businesses and startups specifically equipped to help them grow.
Markopolo.AI is an AI-powered smart marketing agency. Markopolo.AI offers curated strategy-driven marketing blueprints and recommendations based on your needs. Markopolo.AI can create full-fledged marketing campaigns and write smart copies by implementing artificial intelligence. Mark AI can determine the next best step for your company and do the work for you. From pure ad optimization to driving multiple ad campaigns to various channels, Mark AI will automate your digital marketing. All you need to do is focus on your ideas.
If you're having trouble with copywriting, Mark AI will write it for you. Powered by GPT-3, Mark AI can write human-like content, saving you the expense of employing copywriters. Take control of your whole ad campaign with Markopolo.AI and see the results with your own eyes via their deep insights report. Take your campaign automation to greater heights.
SaaS is an industry that is only expanding. The software as a service (SaaS) market was predicted to reach 157 billion U.S. dollars in 2020. More and more businesses are starting to rely on AI-based SaaS products with as much as 85% of small companies have invested in AI-based SaaS options. And by the end of 2021, the cloud workloads installed is estimated to reach 380 million.
Investing in SaaS products has improved thousands of businesses globally, and it's reshaping digital marketing. And because of the Coronavirus pandemic this shift in day-to-day activities to online platforms, it is more than a good reason to invest in AI-based SaaS products for your business.