Friday, January 27, 2023

7 ways to make SaaS sales process successful 

Do you have trouble selling your products as a SaaS company? This article outlines each stage involved in the SaaS sales cycle and how to increase your sales velocity. 

SaaS companies are now forced to shift their sales process since more than half of their buyer demographic segmentation is on the Z generation. They are full-time online visitors, so they do their research independently. Therefore, you need a different go-to-market strategy to stay competitive. 

The SaaS sales process normally starts with the initial need to prove customer support. Then, depending on individual situations, SaaS agencies continue their strategies, like onboarding new users and a variety of renewal options for customers to choose from. 

What is the SaaS sales process? 

The SaaS sales process is a stage-by-stage plan for selling web-based or cloud software to customers. The aim generally comprises adding new prospects and converting a visitor or free trial user into a paying customer. SaaS sales are more than achieving a purchase; they should focus on building a lasting relationship with customers. 

SaaS sales are a complicated practice licensed for use over the internet. There are no shortcuts to attracting your prospects; sometimes, you may be in wrongdoing since you don’t know what works well. Product, marketing, customer success, and SaaS development should be on a consecutive streak to convert prospects into customers.   

The SaaS sales cycle is to be a tricky one because they are providing both tangible and intangible services/products to their customers. So, selling a product through a web service needs educating the target audience on how to use your application. If you want to educate customers and staff about SaaS sales, use editable sales process templates from different sources.  

The success of SaaS sales depends on how properly your sales team members educate your target customers. It also includes keeping an eye on metrics, optimizing demos, and offering personalization. So, the highly knowledgeable sales team needs the following outfit.   

  • They should know what specific leads’ needs will meet by a particular product feature. 
  • Know what new features, integrations, and add-ons the company has. 
  • Know your product inside out. 

Apart from these, email automation, contacting trial users, using multiple pipelines, choosing the right CRM, proper trial duration, and additional value offer help SaaS sales succeed. 

The general SaaS sales process can vary depending on the product, client, and annual contract value (ACV). For example, if your SaaS product/service is at a high price point or needs large resources for implementation, you require more attention, deep thinking, and fostering. Studies show that a SaaS company with an annual growth of 20% only will have a chance of 8% survival.  

Resonating PowerPoint slides will be an add-on for SaaS companies to expose explored results on the survival rates of software companies. 

7 steps for successful SaaS sales  

To speed up your SaaS sales, you can follow the upcoming tips. However, these steps are generally applicable but may vary according to your industry, customer, and product type. So first, let’s look at what makes a SaaS sale successful.  

  1. Defining your ideal customer 

Who would be your ideal customer, and what buyer persona do they have? Once you define these questions, you can go after a customer who matches them. This is the technique to acquire high-quality leads. However, chasing low-quality leads instead of high-quality leads wastes your time and resources, so it ruins your SaaS sales process. 

  1. Prospecting  

Once you have defined your Ideal Customer Profile (ICP), you need to frame steps to entice high-quality leads. There are two approaches to attracting prospects, i.e. active prospecting and passive prospecting. The selection of approaches depends on the nature of the product/services and company profile. 

Active prospecting is the best option for solopreneurs, small companies, or software companies that don’t have multiple buyer personas. Identify high-potential prospects for active prospecting and start a relationship via email or phone. Active prospecting will boil down your leads with a shorter sales cycle.   

Passive prospecting will be best suited if your company targets multiple ICPs and organizations. The passive approach includes high-quality SEO content, online video series, or seminars to generate SaaS leads. Through inbound marketing, you can generate high-quality leads. It includes: 

  • Online adds 
  • Blog posts 
  • eBooks   
  • Social media 
  • Newsletters.  
  • Research reports 

Whatever approach you use to generate SaaS leads, you should observe results. For example, frequent contact with customers can make closing the deal a lot longer if you are dealing with recurring sales products like PowerPoint templates. 

  1. Qualifying 

All visitors or trial users of your product will not be high-quality prospects. Instead, they may quit your website and search for a similar business model online. So, you must know for which prospect you should spend your time and effort and what leads you should avoid. This is the process called qualifying. A lead scoring system enables you to identify potential prospects interested in your company. For example, if someone shows interest soon after calls or emails, they might be a qualifying lead. 

  1. Present, how you can help 

After becoming a trial user, your prospect may be interested in being paid. They would like to consult with you for a one-on-one meeting to gather information. Now, you can present your goals and know their pain points while explaining. After understanding their requirements, summarise how you can help them. 

  1. Dealing with complaints  

After getting a subscriber, you may fall into dealing with a number of calls, emails, chats, or even face-to-face meetings with clients’ objections about your products/services. If you are reluctant to address these objections and concerns, your client may say goodbye to you. These objections mainly fall into two categories: 

  • Your product is too expensive or 
  • Your SaaS couldn’t help my business, or it doesn’t have X features. 

Here, by showing the value of your product to meet its ends, you can reveal its benefits. Then, work together with your customer and explain what benefits they would get. 

  1. Closing 

Now, you have converted your lead into a potential customer. This is the time to deliver the final proposal with the necessary negotiations. Now you can sign the contract. 

  1. Retain customers by nurturing  

To maintain a good relationship with your customers, you should acquire customer retention techniques. For example, you can keep a high-quality prospect by providing top-class technical support, gathering feedback and referrals, and considering their reviews.   

Conclusion 

I hope you now understand SaaS sales process has too many challenges to overcome. It requires a different sales approach when comparing our traditional sales cycles. But all sales success comes under one concept, i.e., “serving to fulfill customer needs.” If you and your sales team keep these in mind, you don’t have a hard time achieving them. 

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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