Guest Feature: SaaS Website Study: Enabling the Self-Educated Buyer

‍The Juice is excited to share another piece in our guest feature series with, "SaaS Website Study: Enabling the Self-Educated Buyer" from Tourial.  We will continue to share some of our favorite pieces of content from modern day brands. Stay tuned! 🧃

SaaS buyers want to self-educate more than ever

There has been a shift in the buyer mindset and preferences have changed when it comes to evaluating and buying a new products, especially software.

They want to understand how a product works early on — to see it and have a real experience.

84% of B2B buyers told us they self-educate as much as they possibly can when evaluating software solutions. Where does this self-education happen? There’s digital content, a huge piece of any sales led motion. And then there’s the actual product.

Buyers experience some frustration with booking the demo and sometimes, it’s not as simple as immediately jumping into a product. Buyers want more.

They want to reduce risk by building trust and confidence in a product through self-education.  When we asked buyers about SaaS websites, 83% told us it’s a common struggle to find the basic information they need, and 84% described frustration feeling squeezed into taking action (i.e. booking a demo or starting a trial) before they’re ready.

Saas buyers view this very first conversion decision as a commitment and until they’ve reached a high degree of certainty that a company or product is likely the one for them, they just aren’t ready to provide their contact info.

What’s telling is this applies even for the simplest (and least expensive) SaaS products.

When a buyer can make a low cost SaaS purchase right there online, they follow the same pattern — digging through the website and often performing research elsewhere before making that final purchase decision.

But this isn’t really news to marketers is it? We’ve all heard the stat, “74% of B2B buyers do more than half their research before the first touchpoint with a company.” (Forrester).

So the question we should ask ourselves isn’t “how do we circumvent this pattern?” the question should be “how can we enable it?”.  

“SaaS websites don't do a good job explaining what the product does. I'm entering a website with an objective and clear understanding of what's important to me. SaaS organizations should do a better job immediately articulating this.”
- survey respondent

The Buyer-Seller Disconnect

SaaS Websites Don't Deliver

‍Our study showed that only 25% of buyers are happy to see the option to start a free trial when they hit your website and only 18% feel that way with ‘Request Demo’ CTAs.

That means a mismatch occurs for 75% and 82% of all web visitors (respectively) seeking to learn about SaaS products.

That’s quite a disconnect. And when we dig deeper, asking buyers specifically about the top reasons they choose not to convert, only 8% say it has to do with the value of the offer, while 82% say they’re simply not ready to dedicate their time and energy to a sales or trial experience.

Again, tech marketers are asking for action before the vast majority of buyers feel ready.  

“Of course every website is going to make their thing seem like the best product ever, I assume everyone is lying about all of it anyways. From incentivized testimonials to way-hyped-up blogs, just let me get in there and get a feel for it myself” - survey respondent

SaaS Content Doesn't Deliver‍

Saas buyers view this very first conversion decision as a commitment and until they’ve reached a high degree of certainty that a company or product is likely the one for them, they just aren’t ready to provide their contact info.

Where can they find this information?

They can:

• read your web copy
• read your blog posts
• read your quotes and case studies
• and of course watch your videos

The information is all there right?

Apparently not. 84% of buyers say their biggest frustration with websites is having to do a live demo to understand how a product works. Buyers aren’t on your website to read about ‘the top 5 reasons they need X platform’; they’re there to understand how your product works and why it’s their best option.

To be more clear, buyers on a top-of-funnel mission don’t want to learn about your company, your thought leadership, or your customers. They want to “fully understand” your actual product - often the one thing that most of your content doesn’t meaningfully cover.

This isn’t to say no SaaS companies provide product information, the problem we’ve found is when they do, it’s either too abstract or high-level (think product pages and explainer videos) or… it’s gated.

Marketers have this antiquated habit of putting lead forms in front of the very information buyers really want to consume. And, 71% used the word “hate” when describing their sentiment towards this practice.

“I want to know what the product is/does sooner. If I'm hungry, I don't need to be reminded of why I'm hungry or read about the impacts of being hungry. I just want to see what food that is being offered so I can make a decision.”
- survey respondent

The disconnect is a misalignment of goals. At the top of the funnel, marketers are coveting the capture of contact information at the very same time that buyers are attempting to perform recon anonymously.

SaaS Videos Aren't Scalable

Video has infiltrated SaaS marketing playbooks for so long. They allow marketers to create bite-sized content that educates faster and more effectively than text. And, videos allow buyers to learn without committing to a sales or trial process.

All this is true, but videos have become more of a pain than an advantage. Here’s why:

Explainers
‍55% of buyers say the top-of-funnel videos (explainers) marketers make are too high level to really answer their questions.

‍Recorded Demos
‍Recorded demo videos attempt to deliver a live demo experience in a self-serve wrapper, which ends up being too long, boring, and often too technical for buyers to sit through.

‍Logistics of video production
‍Videos are expensive, production is slow, and when you need to make updates it’s a whole new project to manage.

Explainer and demo recording videos might be the status quo, but that’s due to a lack of options and marketer bandwidth — and certainly doesn’t reflect the needs of today’s SaaS buyers.

Converting to Demos and Trials

This is why video has infiltrated SaaS marketing playbooks for so long. They allow marketers to create bite-sized content that educates faster and more effectively than text. And, videos allow buyers to learn without committing to a sales or trial process.

All this is true, but in practice videos just don’t deliver the goods for marketers OR buyers. Here’s why:

Request a Demo
‍The SaaS buyers in our study overwhelmingly agreed that opening their inbox and phone number to sales is a willing request to be “bombarded”.

The reality is dealing with sales is work:

• Getting unwanted phone calls and VMs
• Making time for numerous sales meetings
• Pulling stakeholders together
• Dealing with finance, legal, and procurement
• Receiving endless emails and follow ups

Buyers know that filling out a lead form isn’t a path to a one-way, educational experience. And since buyers are typically evaluating more than one solution, the time and effort involved multiplies. This is why converting isn’t a decision they make lightly.

It’s THE reason buyers demand to self-educate,  to build trust and confidence that all this work will be worthwhile.

Start a Free Trial
‍You may be thinking, ‘well this is why free trials exist’. If buyers want to get close to the product, self educate, and evaluate as early as possible, then they’ll jump at the chance to trial a product.

There’s no doubt putting the buyer in the product on their own can help them evaluate and answer questions. But, our study revealed that the majority of SaaS buyers don’t actually regard a free trial as a good first step either.

Instead, trials are often perceived as another form of work and buyers report being skeptical about the effort it will take to get acquainted with a new UI and the learning curve in a new tool without training.

So for buyers, there’s still a gap that needs to be bridged and this points to websites needing to be more supportive in the self-education process.

Buyers Trust "The Product"

Even though buyers want to self-educate before a demo or trial, they also report the demo and trial as far and away the most trust-building informational sources.

Whether it’s the actual product or a representation of it, we just trust it more. But websites aren’t a lost cause.  

“Interactive product demos help alleviate the fear that I don't really know what I'm buying”- survey respondent

There are critical parts of a website still important to a buyer’s evaluation process. Specifically, all of the product information. Product pages, product videos, and product tours rank as the most important content when evaluating software on a site.

Turns out, product tours and videos are just as trusted as free trials among buyers. This makes sense, since they are both representations of the actual product (in most cases).

Buyer's Learning Preferences

When we asked buyers how they prefer to learn about SaaS products, their answers revealed product tours have become a true advantage.

A big portion, 87% of buyers, feel very favorable toward product tours during their self-education stage.

Buyers feel product tours can provide the detailed content they’re looking for, while also letting them experience the product on their own time.

Product tours are lower friction and so get higher engagement. Almost all buyers say they would engage with an interactive product tour before scheduling a demo or starting a trial if given the opportunity.  

Buyers want to understand a product and do so through self-education during their evaluation stage. Even with free trials, it’s clear buyers are expecting more from websites and product focused content provided.

This study clearly shows how much SaaS buyers desire product. They want to understand a lot more about your product and they don't want be able to do so on their own time through self-education.

Though many websites aren't delivering the types of product information buyers are seeking, there's plenty of opportunities to improve these experiences — and the numbers don't lie.

If almost all buyers say they would engage with an interactive product tour, and we know other CTAs alone aren't cutting it... what are you waiting for?