In the competitive world of SaaS, being “oversubscribed” can be a game-changer. It means having more demand for your product than you can supply, creating a sense of exclusivity and high value. But how do you achieve this coveted status? By following the seven principles outlined in Daniel Priestley’s book, “Oversubscribed: How to Get People Lining Up to Do Business with You“, you can position your SaaS business to be in constant high demand.

1. Create Your Own ‘Market of Me’

Become an Influencer in Your Sector

To stand out in the crowded SaaS market, you need to position yourself as an authority. This isn’t just about having a great product; it’s about becoming a thought leader. Share valuable insights, trends, and advice related to your software and industry. Write blogs, create videos, and host webinars that showcase your expertise.

Campaign-based marketing is a powerful tool in this strategy. Instead of a continuous marketing effort, focus on limited, impactful launches throughout the year. These campaigns build anticipation and make each launch a significant event. By doing this, you create a “market of me” where your audience eagerly awaits your next move, ensuring you are always in demand.

2. Product Staircase with a Free Lead Magnet

Attract and Engage with Valuable Free Resources

One of the key principles from Priestley’s book is to set up a product staircase that includes an effective, free lead magnet. A lead magnet is a valuable resource that attracts potential customers and engages them with your brand. For a SaaS business, this could be a free tier of your software, a detailed industry report, or an informative e-book.

The goal is to offer something so valuable that potential customers can’t resist. This free offering should provide significant value but leave them wanting more. Educate users on the benefits of your premium features and services, and guide them up the staircase from free resources to paid solutions.

3. Determine Your Capacity

Know Your Limits to Ensure Quality Service

Understanding your capacity is crucial to maintaining the quality of your service and managing resources effectively. Calculate how much customer support and product demand you can handle simultaneously. This helps prevent overextension and ensures each customer receives the attention they deserve.

Daniel Priestley emphasizes the importance of knowing your limits. By determining your capacity, you can plan your marketing and sales efforts accordingly, ensuring that you can deliver exceptional service to every customer. Regularly review and adjust your capacity based on demand and resource availability.

4. Priming and Social Proof Messaging

Build Trust with Testimonials and Case Studies

Priming your audience and using social proof are essential strategies to create demand. Priming involves subtly preparing your audience to expect and desire your product. This can be achieved through consistent messaging that highlights the value and benefits of your SaaS solution.

Social proof is a powerful tool in this process. Collect and showcase testimonials, case studies, and user reviews that demonstrate the success and satisfaction of your existing customers. Highlight specific results and benefits that your customers have experienced. This not only builds trust but also creates a compelling narrative that attracts new users.

5. Release Formula

Timing Your Product Launch for Maximum Impact

Daniel Priestley’s book outlines a specific formula to determine when to release your offering based on the level of interest and engagement from your audience. Here’s how it works:

• Strongly Signalled Interest: If you can manage 100 customers at once, aim for 500 potential customers expressing strong interest (e.g., signing up for a demo or trial). This indicates a strong market demand and readiness.
• Educated or Entertained Customers: If you want 1,000 active users, ensure 10,000 people have engaged with your content (e.g., webinars, tutorials). This larger pool of educated customers increases the likelihood of conversion.
• Soft Signalling: For a goal of 500 paid users, ensure at least 50,000 have interacted with your lead magnet or free resources. This broad level of awareness and initial interest sets the stage for higher conversion rates.

By following this formula, you can strategically time your product launches to ensure maximum impact and readiness from your audience.

6. Remarkable Offering Delivery

Exceed Expectations with Every Release

When you do release your product, it’s crucial to deliver an experience that exceeds customer expectations. This means ensuring your SaaS solution is not only functional but also delightful to use. Provide exceptional customer support, address issues promptly, and continuously update and improve your product based on user feedback.

Delivering a remarkable product is about more than just meeting needs; it’s about creating a memorable and positive experience that turns customers into advocates. These satisfied customers will naturally spread the word, contributing to your growing demand.

7. Social Proof and Success Stories

Leverage Customer Success to Attract More Business

The final principle involves creating an overwhelming amount of social proof by showcasing your customers’ success stories. Collect and highlight testimonials, case studies, and reviews from your satisfied customers. Use different formats, such as written testimonials, video interviews, and detailed case studies, to provide a comprehensive view of how your product has helped others.

Place these success stories prominently on your website and social media channels. Not only do they build trust and credibility, but they also serve as powerful marketing tools that can persuade potential customers to choose your SaaS solution over competitors.

By implementing these seven principles from Daniel Priestley’s “Oversubscribed,” you can strategically position your SaaS business to be in high demand. From becoming an industry influencer to leveraging social proof, these steps will help you create a sense of exclusivity and desirability around your product. Start applying these principles today and watch as your SaaS business becomes oversubscribed.

Download Your Free Checklist: 7 Principles to Make Your SaaS Business Oversubscribed

Ready to transform your SaaS business and become oversubscribed? We’ve put together a comprehensive checklist that summarises all seven principles from Daniel Priestley’s “Oversubscribed.” This handy guide will help you implement each step effectively and start seeing results.

Get Your Free Checklist Now!

Click the link below to download your free PDF checklist. Use it as a roadmap to position your SaaS business for success, attract more customers, and create a sense of exclusivity around your product.

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By following these proven principles, you’ll be well on your way to creating high demand for your SaaS business. Don’t miss out on this valuable resource – download your checklist today and start making your business oversubscribed!