Top tips for selling SaaS
Before moving on to the actual advice, remember that the perfect SaaS sales rep should be someone with multiple talents.
Among other things, it's about being a professional seller, a consultant and an advisor at the same time.
If you are that sales representative, you need to quickly understand the needs of your potential customers and offer them a solution that meets those needs in a way that is both affordable and easy to use.
In other words, as a seller, you need to balance the inability to accept a refusal (which comes from knowing that your solution can help the customer) and understanding that change can be difficult.
With this in mind, let's move on to the main tips to be implemented.
1. Know your target customer.
When it comes toB2B SaaS businesses, the basis of any sale starts with knowing the target customer.
It might seem obvious, but you'd be surprised how many sales professionals try to sell to anyone who has a pulse.
Not all customers are equal, and trying to sell to everyone will lead to frustration and a waste of time and effort.
Instead, focus on targeting a specific type of customer that you know you can help.
These may be businesses in a particular sector or businesses of a specific size.
Knowing the customer's pain points goes hand in hand with knowing your target customer.
Your target customers will have specific issues that your software should be able to solve.
Whatever the pain point is, make sure you are clear about what it is and how your software can help solve it.
With the cost of acquiring a customer constantly increasing, it's more important than ever to focus on selling to customers who are a good match for your software.
A sales team should carefully examine each customer and determine if they are likely to succeed with their software before trying to sell to them.
2. Do your research to develop a solid value proposition.
SaaS Software Sales Representatives can no longer rely on the features and benefits of their software to sell it.
Customers are becoming more savvy and can quickly see through a sales pitch that is nothing more than a list of items whose value seems exaggerated.
It would be best if you focused on developing a solid value proposition that meets the specific needs of your target customer base.
This goes hand in hand with researching and truly understanding what customers are looking for, and how your software can help solve their specific problems.
Your value proposition should be clear, concise, and easy to understand.
One way to do this is to be active on social media, which allows you to stay up to date with the latest trends in your industry and what your target customers are talking about.
Another good way to do research is to set up Google alerts for specific terms that are searched by your target customer and by your competitors.
This will allow you to quickly see any new developments or changes in the market that you need to be aware of.
3. Understand the SaaS sales cycle.
Unlike other types of sales, the SaaS sales cycle is continuous.
That means there's no real “start” or “end” to the cycle, and it can be hard to know when a potential customer is ready to buy, especially if you're still in the early stages of your relationship.
The best way to approach the SaaS sales cycle is to think of it as a journey that your potential customer takes.
At each stage of the journey, they will be looking for different information, and you need to be able to provide them with what they need to know.
Since most SaaS operations are based on a monthly recurring revenue (MRR) model, the SaaS sales model involves multiple stakeholders from multiple departments within a company, each with their own goals, which can make selling complex.
If you have a marketing team (which is desirable), they should focus on raising awareness and interest in your software.
Then, your sales team's job is to turn that interest into paying customers.
Also, consider that enterprise SaaS software sales are different from traditional sales in that you're not selling to one person but rather to an entire business.
That means you need to know the various decision makers in a company and their other goals.
For example, the CFO will focus on the financial aspects of the transaction, while the CTO will be more interested in the technical aspects.
Understanding the goals of each decision maker will help you tailor your sales pitch to close the deal.
4. Charging high prices.
The value you provide should be reflected in your pricing.
If you add value and solve a real problem for your customer, you need to charge high prices.
Don't be afraid to get paid for what you're worth.
Practicing low prices while extolling the value you offer will only serve to devalue your software in the eyes of potential customers.
In addition, falling prices are usually a losing race.
Once you lower your prices, it becomes more and more difficult to raise them again, even if you offer more value.
Instead of lowering prices, you may decide to offer bonuses or other benefits to customers who buy your software.
Let's say you can offer attractive bonuses that make customers feel like they're getting what they paid for, just through bonuses.
In that case, it can be a great way to increase your perceived value without having to lower your prices.
5. Create an effective pitch.
A pitch deck is a slideshare presentation used to communicate your business story and value proposition to potential customers.
Creating an effective pitch deck is critical for any SaaS business, as it's one of the first things a potential customer will see.
Your pitch deck should be clear, concise, and easy to understand.
It should also be visually appealing and tell a story that resonates with your target market.
Here are a few things to keep in mind when creating your pitch deck:
- Only present essential information : Don't try to cram too much information into your pitch deck. Keep it short and focus on the things that matter most.
- Use strong visuals: Use strong visuals to help tell your story and communicate your message. These can be diagrams, charts, infographics, and photos.
- Make it easy to understand : Avoid using jargon or sector-specific terms. Instead, make sure that your pitch deck is easy for anyone who consults it to understand.
- Tell a story : Your pitch deck should tell a story that resonates with your target market. This will engage your audience and make them more likely to remember your business.
The right SaaS sales model pitch deck can mean the difference between winning and losing a business, so taking the time to create a solid one is essential.
Creating a compelling pitch also means considering the type of content you're creating.
Using content to your advantage is a skill that will help you close more deals.
Know how to start a blog and create effective articles, work on your influence on social media and start an engaging YouTube channel can be great ways to present your SaaS product in action and communicate your value proposition.
Sales teams need to collaborate with marketing teams to ensure a steady flow of quality content is produced.
This content should be tailored to the needs of your target market and be easy for them to consume.
6. Build your team.
With SaaS sales metrics in mind, it's critical to train your team to sell your software.
This includes teaching them about your product, your target market, and your SaaS sales process.
It is also essential to provide them with ongoing training and coaching to improve their skills.
Here are a few things to keep in mind when training your team to sell SaaS products:
- Product training : Your team needs to have a deep understanding of your product and how it can benefit your target market. She should be able to express it clearly and concisely.
- Market training : Your team should also have a thorough understanding of your target market. She needs to know who your ideal customer is and what their needs are.
- Sales process training : It is essential to set up a sales process and train your team in it. This will ensure that they get the most out of each sales opportunity.
- Ongoing training and support : provide ongoing training and support so that your team can continue to improve their skills. These may include regular sales meetings, one-on-one coaching, and training in new sales techniques.
Also, always keep your existing customers in mind and provide them with training on how to use your product effectively.
Customer success is critical for any SaaS business. So make sure your customers know how to use your software properly.
7. Use inbound marketing tactics.
Getting people into your sales funnel can be a challenge, but overcoming it is critical if you want to succeed in selling SaaS.
Inbound marketing is a great way to bring new prospects and customers into your sales funnel.
It's about creating useful content that attracts people and then maintaining those relationships until they're ready to buy.
A qualified lead for sale is much more valuable than a hot lead, so it is essential to prioritize quality over quantity.
The various inbound marketing tactics you can use to generate leads are related to the content you create and may include:
- Become a thought leader : Use your blog, social media, and conferences to establish yourself as a thought leader in your industry. This will draw people to you and allow you to promote your product.
- Host webinars on topics related to your product or industry : Using the correct webinar software, you can offer high-quality webinars that will attract prospects and customers.
- Connect with people through your story : When telling your story, make sure it's interesting and engaging. This will help people get closer to you personally and inspire them to become customers.
The above applies to those who offer SaaS to small businesses and startups, as well as those who follow a business sales model, where large businesses are involved in decisions.
At the end of the day, people are always making decisions, so your sales team should focus on creating real connections.
8. Take advantage of social proof.
To be successful, sales and marketing teams need to work together on this.
When considering buying a product, people often look for social proof to see if others have had success with that product.
These can be customer stories, case studies, and reviews.
Including social proof in your advertising and marketing materials can be a powerful way to increase conversions.
Ensuring that the social proof you use is relevant and targeted to your ideal customer is critical.
For example, if you sell software to small businesses, it will be more effective to include the testimony of a small business owner than that of a Fortune 500 CEO.
Additionally, with pay-per-click (PPC) advertising, you can create targeted ads that are only aimed at people in your target market.
This ensures that they see social proof that is relevant to them and increases the chances that they will convert.
This not only allows you to generate targeted leads, but also allows you to track everything to see what works and what doesn't.
A B2B SaaS business that can combine excellent sales techniques, inbound marketing, paid advertising, and social proof has every chance of succeeding.
9. Offer a free trial or demo.
Value-based demonstrations give potential new customers insight into how your product works and what it can do for them.
Your goal is to show the prospect that your solution is valuable and worth their time, without going into details.
It would be helpful if you focused on what your solution can do for prospects, as well as on the main characteristics and benefits of your product.
You can also explore unique selling points that stand out from the competition.
When doing a value-based demo, it's critical to keep the following in mind:
- Don't try to sell the product at all costs: the goal of a value-based demo isn't necessarily to close the sale during the call, but rather to show the prospect that your product is worth their time and attention. You can also (and should) follow up if the sale doesn't happen after a while.
- Mention that you offer an annual recurring revenue model (be sure to do so if you haven't already): To increase customer lifetime value, SaaS businesses should consider an annual recurring revenue model. The annual contract value of customers can then become much higher, which is essential for long-term success.
10. Focus on customer success.
When selling SaaS is focused on customer success, you're much more likely to have customers who stick around for the long term.
To achieve this, you need to ensure that your product delivers what it promises and that your customer service team is top-notch.
It also means that the right product is constantly evolving to meet the needs of its customers.
To do that, you need to have a feedback loop to get feedback from your customers about what they like and don't like about your product.
Having a transactional sales model that works means always thinking about how to increase the lifetime value of your customers.
The best way to do this is to focus on customer success and ensure that they get the most out of your product.
By following these tips, you can be well on your way to having a successful SaaS business that generates long-term customers.
The business tools that make SaaS businesses work
Finally, let's take a look at the tools that can make or break a SaaS business and what they bring.
Billing software
Using the best billing software is critical to ensuring that you get paid on time and that your customers are happy with the billing process.
This software automates numerous invoicing tasks, including issuing invoices, tracking payments, and issuing refunds.
Customer Management Software
Know how to best use a CRM for marketing can help you track your customers, their needs, and how best to help them.
You will thus be able to offer them the best possible customer experience, which will improve their satisfaction and loyalty.
Using the right VoIP providers can also help you save on customer support costs when making phone calls, as it's less expensive than traditional phone systems.
Project management software
The good project management software will help you track your team's progress, deadlines, and tasks
This way, you can ensure that everyone is on the same page and that nothing falls through the cracks.
The right tools in this area will also help you optimize your communication with your team and provide them with the resources they need to succeed.
Marketing automation software
Here, the focus should be on automating as many product marketing tasks as possible.
That way, you can free up your time to focus on more important tasks, like selling and supporting your customers.
Whether it's the automatic lead generation to help you put together your list, of the data collection to serve as feedback, or even the use of AI chatbots To answer customer questions in self-service, marketing automation software can help you do all of this more effectively.
Human resources software
To be successful, it's essential to take care of everyone on your team, including your sales manager, sales representatives, account manager, and more.
To close deals, you don't just need to have the right ones HR tools to manage your sales pipeline - having the right people can make or break SaaS sales.
From the start of recruitment (through platforms such as Glassdoor, Linkedin or even internal recruitment) through to reception and training, having the right staff makes all the difference.
Accounting software
Accounting software can take into account key parameters such as the unsubscription rate, the customer lifecycle value (LTV) and gross margin.
The right software will provide you with information like what base salary you can offer your sales force, how much you can pay to generate outgoing leads, and what type of commission structure is right for your business.
Dataviz
To get the most out of your data, you need to be able to visualize it in a way that's easy to understand.
Data visualization tools can help, and you can use them to create dashboards that give you an overview of your business.
The right data visualization tool can help you spot trends and decide where to focus your efforts.
Summary
Getting involved in the SaaS industry can be a great way to make money, but it's not without its challenges.
By understanding the different types of sales cycles and the tools that can help you reach your goals, you'll be in a much better position to succeed.
