63- Expand your market with Ansoff’s Matrix

2024-09-15

B2B SaaS Marketing Snacks

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Selling an existing current product or service into a new group of software customers can be a big challenge. Today we dive into strategies for marketing expansion for your SaaS company using the wisdom found in the upper left quadrant of the famous Ansoff Matrix.

In Episode 63 of the B2B SaaS Marketing Snacks Podcast, we talk through the indicators you should look for when considering a marketing expansion strategy and what new initiatives you can take to effectively sell into a new group of customers without changing your product or service.

The Ansoff Matrix, named after mathematician Igor Ansoff, is almost 50 years old. However, as a SaaS founder, you will find its wisdom will ring exactly true for your software company today.

Maybe you just got funded and have more capital to spend, but expectations for growth pace are now much higher too. Other signs that your current market isn’t providing what you need could be:

Low retention from your market
A low or slow sales cycle
Low average contract value
High customer acquisition costs
Missing revenue targets

Of the four possible ways to grow a company (according to Ansoff’s Matrix), market expansion is more challenging than selling into a well-known customer type (“market penetration”). You won’t find it as easy to leverage your company's established strengths, brand awareness and market knowledge as key advantages.

B2B SaaS Marketing Snacks is one of the most respected voices in the SaaS industry. It is hosted by two leading marketing and revenue growth experts for software:

B2B SaaS companies move through predictable stages of marketing focus, cost and size (as described in the popular T2D3 book). With people cost being a majority of the cost involved, every hire needs to be well worth the investment!

The best founders, CFOs and COOs in B2B SaaS rely on a balance of marketing leadership, strategy and execution to produce the customer and revenue growth they require. Staying flexible and nimble is a key marketing asset in a hard-charging B2B world.

Resources shared in this episode:

ABOUT B2B SAAS MARKETING SNACKS
Since 2020, The B2B SaaS Marketing Snacks Podcast has offered software company founders, investors and leadership a fresh source of insights into building a complete and efficient engine for growth.

Meet our Marketing Snacks Podcast Hosts:

Stijn Hendrikse: Author of T2D3 Masterclass & Book, Founder of Kalungi
As a serial entrepreneur and marketing leader, Stijn has contributed to the success of 20+ startups as a C-level executive, including Chief Revenue Officer of Acumatica, CEO of MightyCall, a SaaS contact center solution, and leading the initial global Go-to-Market for Atera, a B2B SaaS Unicorn. Before focusing on startups, Stijn led global SMB Marketing and B2B Product Marketing for Microsoft’s Office platform.
Brian Graf: CEO of Kalungi
As CEO of Kalungi, Brian provides high-level strategy, tactical execution, and business leadership expertise to drive long-term growth for B2B SaaS. Brian has successfully led clients in all aspects of marketing growth, from positioning and messaging to event support, product announcements, and channel-spend optimizations, generating qualified leads and brand awareness for clients while prioritizing ROI. Before Kalungi, Brian worked in television advertising, specializing in business intelligence and campaign optimization, and earned his MBA at the University of Washington's Foster School of Business with a focus in finance and marketing.

Visit Kalungi.com to learn more about growing your B2B SaaS company.