11 most effective B2B SaaS lead generation strategies for small businesses

Software-as-a-service (SaaS) firms rely heavily on scalable, repeatable strategies to generate leads and drive subscriptions.

It means targeting the right companies and the key decision-makers within them, using methods tailored to business-to-business (B2B) audiences like high-intent search engine optimization (SEO) and community engagement.

In this guide, you’ll learn 11 B2B SaaS lead generation tactics for building a captivated audience, filling your sales funnel and securing user sign-ups.

11 B2B SaaS lead generation strategies and tips

Your most effective B2B SaaS lead generation strategies will depend on your stage in the business lifecycle.

Startups and growth-stage companies will focus on tactics that help them build awareness and gain market share. More mature companies will concentrate on staying competitive and maintaining authority.

Below, you’ll find 11 tried and trusted lead generation strategies to fill your funnel no matter where you are in the life cycle.

1. Use dedicated lead generation software

Lead generation software is the most effective way to find and engage B2B decision-makers to sell to consistently.

These tools eliminate the guesswork of lead sourcing, ensuring that your outreach focuses on prospects who best fit your product.

By automating time-consuming tasks, lead-gen software lets your sales and marketing teams concentrate on what matters most: closing deals and driving growth.

For example, SaaS company HoorayHR closes deals twice as fast with lead generation software, saving 60% of the time compared with its previous processes.

Thanks to automations, real-time reporting and pipeline overviews, co-founder Theo Schroen said:

You may think, “Who needs another tool?”. However, some lead generation software is already built into your existing tools.

For example, if you’re keeping track of your leads, deals and contacts, you probably use a customer relationship management (CRM) platform. Pipedrive’s add-on, LeadBooster, helps you build and engage a targeted list of key decision-makers in not one but four ways.

The lead generation tool includes:

• Prospector. Set up your personalized criteria and get lead matches from a database of 400 million profiles and 10 million companies.

• Web Chat. Connect inbound prospects directly to your team to offer impressive, real-time engagement at just the right time.

• Chatbot. Instantly engage website visitors anytime, and route potential leads to sales reps. (We’ll talk more about Chatbot later.)

• Web Forms. Design custom, embeddable website forms to capture visitor information and automatically send leads to your CRM.

Let’s take a closer look at Prospector, for example. Prospector’s AI engine helps you pinpoint and target leads for B2B prospecting based on criteria such as industry, company size and location.

Once you add your filters, the tool reveals those contacts that best match your search criteria.

Plus, you’re never stuck with outdated information like disconnected email addresses. Prospector updates and verifies up to 800,000 of these profiles daily so you can be sure the contact information is current.

With all this time saved, reps can focus on crafting personalized messages that build connections and drive revenue.

2. Offer a free trial or freemium model

Offering a free trial or freemium model isn’t just a nice-to-have – it’s essential.

Getting potential customers to use and explore your software helps them envision it as part of their workflow. As they become familiar with the tool, they feel a sense of ownership.

Plus, trial success is linked to psychology. The feeling of loss a trial user experiences when it ends can make them more likely to subscribe – this is called “loss aversion”.

Trials are also very common today, especially in the tech industry. Your competitors are likely offering temporary free access or a freemium model (a limited free plan), so matching or improving on this is crucial.

Cacheflow offers interactive experiences that let potential customers try its product without any initial investment. Director of Marketing Riley Timmins says:

Here are four ways to increase the effectiveness of your free product version:

1. Create a user-friendly process to sign up for trials or freemium access

2. Clearly outline the features available during the trial to highlight the product’s value

3. Follow up with personalized communications to guide users through their trial

4. Gather feedback to improve user experience and address any concerns

By providing these hands-on experiences with your product, leads are more likely to appreciate its value and become customers faster.

3. Develop a comprehensive B2B content marketing strategy

Build trust and demonstrate your brand’s credibility with educational resources (e.g., blog posts, webinars and videos).

Relevant and useful resources attract customers because people often seek solutions through self-service methods before contacting sales teams.

Wave founder George El-Hage explained that many potential customers are already convinced about the product before they request a sales demo. During demos, people often mention seeing Wave ranked highly on various platforms, following the brand on LinkedIn or hearing positive experiences at events.

Others have watched videos on YouTube or read reviews highlighting the product’s ease of use. Here’s an example of Wave’s helpful YouTube content:

The key takeaway is that content can act as a powerful salesperson, building trust and credibility before any formal sales conversation begins.

If you can produce content that gets in front of your potential customers, you’ll build awareness of your brand name. If that content offers help and support for a problem they’re trying to solve, you’ll also develop authority and trust.

This trust is important. Edelman’s 2023 Trust Barometer report found that when customers trust a brand, they’re more likely to purchase, remain loyal and advocate for it.

Encourage inbound leads by sharing your content on your website, social media platforms, email newsletters and anywhere else you have a presence.

Creative content marketing, sometimes called inbound marketing, can mix original insights and user-generated content. For example, you could create:

• Case studies and testimonials. Showcase real-world customer stories to build credibility, act as social proof and demonstrate product value. Example: How AI bees used Pipedrive to boost growth by over 2000%.

• Videos. Offer potential clients visual walkthroughs, explainers and behind-the-scenes insights to help people get to know your product and team. Example: How to Get More Out of Pipedrive - Top Tips and FAQs.

• Webinars. Engage prospects with live presentations that offer both education and interaction. Example: Beautiful reporting, actionable insights.

• Blog posts. Share valuable insights, thought leadership tips and industry news to attract organic traffic. Example: Using HR analytics for data-driven team management.

• Infographics. Visualize data and insights to convey complex information quickly. Example: Email delivery infographic.

• Email newsletters. Keep leads and customers informed with regular updates and expert tips. Example: CRM software newsletter.

• Comparison pages. Highlight unique features, pricing or core values to help prospects evaluate your software against competitors. Example: Pipedrive vs. Zoho.

Of course, your competitors will also use many of these content formats. To stand out, consider pushing creative boundaries.

LinkedIn research suggests that 90% of B2B CMOs advocate for bolder creative campaigns to encourage word-of-mouth marketing and lead people along the buyer journey.

4. Create targeted Google and social media ads

Precise targeting is crucial when promoting SaaS products, as you must consistently reach in-market buyers in specific roles and industries.

Online advertising is one of the best ways to attract these high-quality leads. According to a joint Databox and Secret Sushi survey, Google and LinkedIn are the most effective B2B SaaS lead-generation ad platforms.

Google Ads allows you to target potential customers based on specific keywords and search intent (e.g., “free accounting software for manufacturing companies”).

Companies that pay for Google Ads appear under a “Sponsored” label in search results.

LinkedIn has over 67 million company profiles, allowing for precise targeting to ensure your ads get in front of specific industries and companies.

Both platforms ensure your software appears when relevant prospects actively seek solutions – for a cost.

Ad budgets will vary by business and industry. However, you can use benchmarks to ensure you don’t overspend on ads.

Wordstream has compiled some ad benchmarks, including the average click-through rate and average cost per click:

You can also start small (say with 2 to 5% of sales reinvested in ads for the following month) and increase as you learn what works. Test, monitor and adjust creatives and ad copy to ensure you get the most clicks for your buck.

Here are six steps to create effective SaaS lead-generation ads:

1. Set SaaS-specific goals. Focus on actions like increasing trial signups or demo requests – typical conversion goals in SaaS lead generation.

2. Use SaaS-tailored keywords. Research high-intent keywords related to software features or specific use cases (e.g., “best project management tool”).

3. Craft targeted, benefit-driven copy. Highlight your product’s core benefits, such as integration capabilities, ease of use and ROI, to address SaaS buyer pain points.

4. Ensure ad and landing page consistency. Align your ad messaging with landing pages that showcase product features, testimonials and a clear CTA (e.g., “Start a free trial”).

5. Track SaaS-specific metrics. Review metrics like cost-per-lead (CPL), trial-to-paid conversion rates and engagement regularly to continuously optimize your campaigns.

6. Automate lead collection. Send your ad-generated leads to your CRM with tools like Pipedrive’s Google Ads integration.

Despite requiring more upfront investment than content marketing or SEO, targeted Google and social media ads can attract high-quality leads and drive conversions, making them worthwhile long-term.

5. Build a partner or referral program to expand your reach

B2B buyer-seller relationships often rely on trust. Referrals from existing customers or other credible businesses can be highly effective in generating qualified leads.

You can offer customers and businesses the task of generating leads and driving B2B sales for you using two types of programs:

• Referral programs typically involve customers recommending your product to others in exchange for a reward (e.g., discounts or commissions)

• Partner programs tend to be more formal partnerships with other businesses that actively promote, sell or integrate your product as part of their service offering

For example, accounting software Xero offers both types of programs. Customers who refer a paying client can claim a $500 reward.

Referrers are usually less involved and don’t actively sell the product. They simply share a link or recommendation.

Companies can also join the partner program for a free subscription and other bonuses (e.g., discounts).

These people are more actively involved in selling Xero, creating how-to videos and offering consulting services.

For example, PMA Accountants helps followers get the most out of Xero using blog content:

As partners like PMA Accountants have closer, more strategic relationships with Xero, they receive free training and marketing resources.

Here are six steps to start your own referral or partner program:

• Define program goals. Set clear objectives (e.g., increase leads or boost conversions) to guide your program’s structure.

• Identify ideal partners. Choose partners or referrers who align with your target market and can add value.

• Create enticing incentives. Offer competitive rewards (e.g., money, gifts or discounts) that motivate people to refer new leads or customers.

• Develop marketing materials. Provide partners with easy-to-use promotional content, such as email templates and landing pages.

• Track and manage referrals. Monitor referral progress, track conversions and ensure you compensate partners fairly.

• Promote your program. Regularly market your offer to attract new referrers or partners and keep engagement high.

Building successful referral or partner programs doesn’t only generate leads. It can also help you build valuable relationships within your industry and customer base that encourage retention and loyalty.

6. Implement account-based marketing (ABM)

Account-based marketing (ABM) focuses your B2B SaaS marketing efforts on targeting specific high-value companies (i.e., accounts).

Instead of casting a wide net, this personalized approach aims to engage key decision-makers within those companies by addressing their unique pain points and business goals. For example, Procurify created 50 account-specific landing pages, which increased demos by 38%.

It’s all about making an impact with these key accounts – and here’s where you can get creative.

Salesloft sent a Lego Star Wars kit to a prospect with a Star Wars poster in the background of a video call and closed the sale. IBM partnered with the US Open to showcase interesting uses for their technology (and tracked landing page clicks to see which accounts engaged).

Here are five tips for implementing ABM:

• Work with sales to create a list of high-value accounts with a strong fit for your solution

• Develop tailored marketing campaigns (e.g., personalized emails, case studies or landing pages) that speak directly to the specific challenges and goals of each account

• Ensure marketing and sales collaborate closely to target accounts with consistent, coordinated messaging and outreach efforts

• Use a combination of email, social media and direct mail to reach decision-makers within the account across multiple touchpoints

• Track campaign performance using dedicated ABM software to understand engagement and adjust your strategy based on these insights

Continually refine your ABM strategy based on feedback and results to ensure it stays effective and aligned with your target accounts’ evolving needs.

7. Create industry benchmark reports and data-driven insights

B2B buyers rely heavily on data to make informed investments and optimize their ROI. Crafting industry-specific reports can help establish your SaaS company as an authority and capture leads looking for insights.

While more time-intensive than a blog post, whitepapers and e-book reports are great ways to grab the attention of key decision-makers.

Providing in-depth, research-backed insights into industry trends and pain points can position your brand as a trusted resource. Referencing your findings in outreach can also inspire more meaningful conversations to generate qualified leads.

For example, Pipedrive’s sales and marketing reports provide helpful information on today’s most effective tactics and technology.

As Pipedrive offers different types of sales software, readers may explore our offerings after learning about their effectiveness.

Here are five tips for creating your own original insights and benchmark reports:

• Determine the most relevant data for your target audience and industry to focus your research on

• Use surveys, interviews, original data and industry findings to gather reliable information

• Provide actionable insights by analyzing the data to identify trends, challenges and opportunities surrounding the topic

• Use visuals, graphs and concise language to make your reports engaging and easy to understand

• Keep reports current by revisiting your data and insights regularly to maintain their relevance and accuracy

You’ll also need to decide whether to gate your content upon publication.

Gated content helps build your contact list by capturing details like name and email, but current best practices are shifting. Many companies are moving away from using gated content as lead magnets in favor of open content to maximize reach and engagement.

Gating can be more effective when building your list during the growth stage. It’s all about balancing visibility with lead generation, depending on your company’s goals.

8. Encourage lead nurturing with automated email workflows

Automated email workflows are a series of pre-scheduled emails automatically sent based on specific triggers or actions (e.g., someone subscribing to your newsletter).

SaaS buyers have long decision-making cycles. Automated email workflows help you keep your company top of mind, nurture relationships and gradually guide leads through the sales funnel.

For example, Miro engages potential customers with helpful product information showing what’s possible if someone signs up.

88stacks founder Jason Toy uses a similar tactic and has used email to increase lead acquisition significantly:

“Nurturing” and “AI” don’t appear to have much in common, but AI can speed up delivering a personalized response to each lead and automate repetitive tasks, like follow-ups.

For example, you can use Pipedrive’s Campaigns to create tailored email campaigns that engage prospects based on their behavior and interactions.

Use the email marketing software to send out automated lead generation campaigns based on triggers like:

• Welcome emails when new contacts subscribe to your email list

• Product introductions when new prospects enter your deal pipeline

• Feedback requests after cold calls

• “Thank you” messages after prospects schedule demos

You can choose from our range of templates or set up your own marketing automations from scratch.

Here’s how to set up automated emails in Pipedrive:

You can also use the reporting capabilities to track your automated email engagement, delivery and performance rates.

It is crucial not to confuse “automated” with “generic.” According to LinkedIn and Ipsos research, 78% of B2B buyers strongly feel companies should personalize outreach.

Here are six tips for personalizing automated emails for B2B lead generation:

• Segment your audience by industry, company size or behavior (e.g., those who frequently engage with your content)

• Tailor messaging to each segment’s specific preferences and needs

• Reference past interactions to build rapport and show attentiveness

• Provide relevant content and resources that align with the lead’s interests or challenges

• Add clear, compelling call-to-actions (CTAs) that guide leads toward the next step in the funnel

• Experiment with timing to optimize engagement and increase conversion rates

Adding a personal touch is vital for sending automated campaigns that foster genuine connections and drive leads.

9. Attend (or sponsor) B2B events

Industry-specific conferences and trade shows offer a unique opportunity to connect with potential clients face-to-face, build relationships and showcase your product.

National events for the SaaS industry include SaaStock and SaaStr Annual, which attract thousands of company founders, CEOs and execs (i.e., B2B decision-makers who value great SaaS products) every year.

If national conferences seem too far away, you could host or attend smaller, local events, such as catered dinners or meetups in a local city.

For example, you could host a panel discussion on industry trends or provide a sneak peek of your software’s upcoming features.

Tech companies in Kansas City, MO, for instance, can attend 1 Million Cups, an event for local entrepreneurs to meet and promote their startups.

Events like these, whatever the scale, allow B2B SaaS companies to establish credibility, gain valuable exposure and kick off genuine conversations with key decision-makers.

According to a joint LinkedIn and Ipsos study, in-person events are the top channel B2B marketing leaders are leveraging this year.

Here are six ideas for standing out at events and trade shows as a B2B SaaS company:

• Host a live demo. Give potential customers an in-depth look at how your software solves their pain points by providing hands-on demonstrations.

• Offer exclusive deals. Create event-only offers or discounts to encourage leads to sign up or schedule a product demo during the event.

• Create an eye-catching booth. Use interactive displays or branded giveaways to attract attention and engage attendees.

• Leverage social media. Promote your presence at the event on your social channels to encourage attendees to visit your booth or attend your presentations.

• Sponsor key sessions or workshops. Align your company with educational sessions that target your audience’s pain points to increase brand awareness.

• Collect leads with a creative contest. Organize a contest or giveaway that requires participants to provide their contact information.

Make the most of these events by following up quickly with leads and turning face-to-face connections into long-term relationships.

10. Use search engine optimization (SEO) for niche long-tail keywords

Search engine optimization (SEO) is the process of optimizing your website to rank higher in search engine results. The more visible you are, the more accessible your SaaS product is to new customers searching for solutions.

According to Databox and Secret Sushi research (mentioned above), organic search is a leading source of new leads for 43.4% of B2B SaaS companies.

B2B buyers tend to search for very specific solutions using “long-tail keywords”.

More detailed long-tail keywords often have lower search volumes than shorter search terms. However, they’re the type that searchers use most often.

For example, when we look at search data for “SEO software” and “best free SEO software”, the simpler term is more popular.

However, ranking for the longer, more specific term “Best free SEO software” is a better play because, as well as being easier, it’s more likely to attract high-intent buyers who know more about the type of product they’re looking for: they don’t just want “SEO software”, they want the “best free SEO software”.

In this example, they might choose a free trial or be ready to sign up for a free plan with a plan to upgrade in the future.

The long-tail keywords you target will depend on your product, target audience and specific use cases. However, here are some general examples to get the ideas flowing:

• Best software solutions for small businesses

• Affordable tools for streamlining business operations

• How to choose the right software for remote teams

• Top project management tools for startups

• Software solutions to improve team collaboration

• Best CRM tools for customer relationship management

• Benefits of using cloud-based software for businesses

• How business software can increase productivity

• Software tools to automate repetitive tasks

• Affordable cloud-based solutions for growing companies

These examples can help you brainstorm more targeted keywords based on your unique offering and audience needs.

Here are five tips for using SEO to rank for these types of keywords:

• Use SEO tools like Ahrefs or Semrush to find niche keywords your audience searches for

• Create valuable content (e.g., blog posts, guides and case studies) that target specific long-tail keywords

• Include your keywords in the titles, headers and meta descriptions of every piece of content

• Link to relevant pages within your site and earn backlinks from authoritative sources

• Keep your content fresh by updating posts to maintain relevance and improve rankings

Founder Mehul Fanawala praises SEO for driving growth and stresses the importance of investing in all types of lead-generation strategies for short- and long-term gains:

By targeting long-tail keywords, you can capture more qualified leads and position your B2B SaaS product in front of the right audience when they’re more likely to convert.

11. Engage website visitors 24/7

Leads may come to your website at any time of day, especially if you operate internationally. Replying while they’re ready and interested can make a huge difference.

Luckily, you don’t have to wait in your inbox to jump on leads that come in overnight.

Including a chatbot in your lead generation process ensures you can engage and qualify potential customers at any time of day. Chatbots also improve your customer experience by replying to every inquiry immediately, even when your team is unavailable.

Tidio research suggests consumers are growing more used to the technology. Around eight out of 10 people would now talk to a chatbot instead of waiting for a human agent (up 20% from 2022).

You can use Pipedrive’s Chatbot (part of the LeadBooster add-on we mentioned earlier) to engage site visitors, qualify prospects faster and help your team prioritize warm leads.

Chatbot also sends notifications to your sales team when leads are ready to speak to a real person through Live Chat or phone calls.

While your reps can take over the conversation to move leads down the funnel, they can focus on other high-priority sales activities the rest of the time.

Chatbot’s technology enables it to understand and interact using natural human language. You can also customize your chatbot’s playbooks so it behaves, responds and acts in ways you prefer.

4 best practices for creating SaaS B2B lead generation strategies

Before effectively converting marketing and sales-qualified leads, you must lay a solid foundation through thorough research.

Here are four best practices to consider when planning lead generation for B2B SaaS.

1. Identify your true ideal customer

Focus on finding the true ideal customer using market research rather than creating personas on a hunch.

Define them using buyer personas and ideal customer profiles (ICPs). These fictional representations capture key characteristics (e.g., demographics, goals and pain points) your target customers face.

For B2B SaaS companies, including customers’ industry, company size and specific needs are even more crucial. B2B buying decisions are often complex and depend on factors like budget, tech stack compatibility and scalability.

Let’s say one of your customers is in the cybersecurity sector. Here’s what your ICP could look like.

Tailoring to these specifics ensures that your solution and marketing efforts align with the company’s needs, improving the likelihood of purchasing.

You can use survey tools (e.g., SurveySparrow or SurveyMonkey) to gather feedback from potential or existing customers. You can also repurpose data from your CRM to refine your personas and profiles and make them more accurate.

For example, Pipedrive lets you filter your customer database by company size, deal value and industry.

Use surveys and your CRM database to identify patterns among your best customers and target similar prospects.

2. Research market trends

Analyze current industry trends and research common challenges your target audience faces. Staying up to date helps you adapt your strategies promptly and positions your software as the most relevant solution for potential customers.

For example, you may find that companies in your target market are increasingly adopting flexible work schedules.

You could use that market research to plan how to adjust your software to enhance team collaboration and productivity.

Here are five ways you can stay updated with your and your customers’ industries:

• Regularly review trusted news sources to identify market shifts and emerging technologies

• Sign up for relevant newsletters from industry leaders and organizations to get unique insights

• Monitor your competition’s offerings and marketing strategies to understand why they evolve or pivot

• Engage with your customers to gain insights into their daily lives to help you stay in tune with their evolving priorities

• Participate in industry webinars and in-person events to network and learn from experts and peers

Proactively researching market trends ensures your SaaS solution remains aligned with your audience’s needs and market demands.

3. Develop a compelling value proposition

A clear value proposition explains why you’re unique and how your company’s SaaS product will benefit B2B customers.

A strong statement can attract potential customers by addressing their pain points head-on and demonstrating why your solution is the best choice.

Let’s say you’re a B2B SaaS company that offers project management software. Here are two examples of “strong” and “weak” value propositions:

The weak proposition is vague and doesn’t tell the reader what features will help them or what results they can expect. The strong proposition includes more information in a far more compelling way without overloading the reader.

Here are four tips for crafting your own compelling value proposition:

• Highlight your product or company’s unique selling points, workflows or features

• Stick to clear, concise language without any jargon

• Get inspired with words or phrases from your reviews and testimonials

• Emphasize the positive outcomes customers can expect from using your product (e.g., increased efficiency, cost savings or improved performance)

You can also test and tweak value propositions through audience surveys or feedback sessions to ensure they resonate and effectively communicate your offerings.

4. Track KPIs and adjust accordingly

Identify key performance indicators (KPIs) that measure the success of your lead generation efforts. Track them over time to understand what’s working and what isn’t to make data-driven adjustments.

For example, you may find that your email campaigns generate more leads than social ads. Using this information, you decide to shift more resources toward email marketing.

You could track lead generation metrics like:

• Cost per lead (CPL). How much do you spend to acquire each lead.

• Lead conversion rate. The percentage of leads that become customers.

• Lead quality. How closely leads match your ideal customer profiles.

• Time to conversion. The time it takes for a lead to become a customer.

• Click-through rate (CTR). The percentage of people who click on your ads or emails.

Use analytics tools like Google Analytics or a CRM like Pipedrive to monitor your chosen metrics.

For example, you can set up custom fields in Pipedrive to record critical data about each lead (e.g., their sales pipeline stage, source and potential deal value).

The reporting feature also helps you quickly spot which lead generation channels perform best, which deals are closing fastest and how efficient your overall SaaS sales process is.

With these insights, you can adjust your strategies based on real-time data to continuously improve your lead generation for SaaS efforts.

Final thoughts

Finding the most effective lead generation strategies for your small B2B SaaS business requires experimentation. Test different approaches but implement one at a time to measure its impact accurately.

To generate, nurture and convert leads using one comprehensive platform, try Pipedrive’s suite of sales tools free for 14 days.