Dear SaaStr: When Do You Start to Develop a Brand in SaaS?
In my experience, probably about $2m worth of happy customers. At that point, you don’t have a world-famous brand or anything. But you do start to have a “mini-brand”, where folks in your top niche or segment start to have heard of you.
- If your product costs $2,000 a year, that might be around 1,000 customers.
- If your product costs $20,000 a year, your mini-brand might kick in around 100 customers.
- Etc.
At this point, customers start referring other customers to you. Folks talk about you in the industry. And prospects looking at the competition will begin to in-bound because they at least want to look at you, too.
Sales is always hard
SaaS is always hard
But there is a moment in time when your brand kicks in
When it gives you a real tailwind in sales, in marketing, in partnerships
Really lean in when you see it, feel it, and know it
— Jason ✨Be Kind✨ Lemkin (@jasonlk) May 12, 2022
At this point, you should start investing in “brand”, as much as you might otherwise think it’s a waste of scarce time and resources. The higher your brand equity, the more deals you win. And while no one starts off with much of a true brand, you do get a mini-brand sooner than you might think.
A little more here:
heard good things image from here