Increased Revenue
Through scarcity marketing, products gain more value. Customers want to get their hands on a product temporarily discounted, as they believe they are getting a great deal. Thus, when the promotion is over, SaaS companies can easily revert to the initial price, having boosted product value and demand.
Plus, the profit margin is in no way affected during this pricing buy albania telemarketing data experiment because increased sales volumes can balance the books.
Battling Churn
This marketing strategy isn’t only about winning new leads. Retaining new ones is also possible through scarcity tactics. 53% of customers state that discounts incentivize them with a brand over a longer period of time or even upgrade their plans. After all, this is also another way to gain more money.
Getting Noticed on the Market
With approximately 30,000 SaaS companies out there, you need to fight for your 15 minutes of fame. And what better way to generate buzz within the SaaS community than through great prices?
Highlighting exclusive offers or price promotions can help businesses stand out in the crowd and become more appealing to potential customers.
Gather User Data
Although gathering user data may not be the primary objective of scarcity marketing, which aims to expand the user base and increase revenue, it remains a valuable benefit.
SaaS companies that offer access to premium features in return for user information can obtain substantial insights about their target demographics, allowing them to enhance their marketing strategies.
Gain Brand Loyalty
Promotional offers don’t just help you earn the favor of social media and help spread the word about your business. They allow customers to build a stronger bond with your brand.
Buyers who successfully snag products in high demand at discounted prices often transform into loyal customers. They perceive their accomplishment in securing an excellent deal as a triumph, forging a unique bond with that product, which manifests through subscription renewals and, in some cases, referrals.
