SaaS (software as a service) is an incredibly lucrative business. However, if you're just entering this industry, it can be difficult to stand out from the competition. Even if you have an ingenious software that solves a common problem, your product won't sell itself. You have to put in the work and have a thoughtful approach to selling SaaS.
Here's everything you need to know to sell your SaaS product as a startup.Show Full Article
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1. Don't Offer Long Trial Periods
Offering a trial period is a great way to let customers see if your product is the right fit for them.
However, when establishing the specifics of your trial period, don't make it too long. Typically, a seven-day trial period should be enough time for customers to test out all of your software's features.
With a shorter trial period, you keep your customer acquisition costs low. This helps drive up your ROI exponentially.
• Send emails to encourage prospects: A lot of users forget about their free trial within hours of signing up. Facilitate their memory with an effective email campaign. Keep these tips in mind when crafting your email campaign:
• Don't be afraid to send out a lot of emails. While some people may call it spam, sending a lot of emails can be effective when done correctly. You want to get your clients' attention and remind them to give your product a thorough look.
• Don't use a department email. Clients are more likely to take your email seriously if it comes from a "human" address. Avoid "mark[email protected]" emails. Instead, send your emails through a name-based email, like "[email protected]"
• Keep your emails activity-based. Encourage clients to take action. Also consider adding useful information to each email, like when they signed up and if their trial is about to expire.
2. Hire A Sales Team
Even if you think you can handle the sales process yourself, it will be beneficial to hire a sales team. A dedicated salesperson can help you navigate the ins and outs of selling SaaS. This way, you can focus on other important business development activities.
Don't hire the first salesperson you come across. And don't be cheap either. The cost of a quality salesperson will cover itself, and you'll be able to generate more profits in the long run.
Don't risk outsourcing part of your sales to unqualified individuals. You may end up doing more harm than good to your business.
3. Understand The Sales Process
Even if you hire a specific team to handle the sales process, you should still be aware of how it works.
A fundamental aspect of the sales process is the sales funnel. This is how clients go from being passive viewers of your marketing campaign to paying customers. The parts of the sales funnel are:
• The top (awareness): Here, clients are exposed to your ads, whether they're on Google, Facebook, Instagram or other online spots.
• The middle (interest): At this point, clients land on your website. They've clicked through an advertisement to get to your website because they need your product.
• The bottom (purchase): After researching for themselves, your client has either signed up for a trial or made a final purchase.
4. Provide A Well-Crafted Product Demo
Your customers want to know what they're investing in. Take the time to create a concise yet informative product demo. Keep it under 20 minutes and make sure it explains the value your product has to offer.
If you find it difficult to craft a short demo, it's time to rethink your target audience and product value. Make sure you know why your product is unique and convey this to your audience.
5. Master The Onboarding Process
While you should focus a lot of your resources on upgrading current customers' plans, you need to know how to handle new clients.
Don't leave them to fend for themselves. Some businesses have relatively simple software to figure out, while others are more complicated. Determine how much intervention your team should have during a new client's first few weeks or months.
Failing to have an effective onboarding process can cause higher cancellation rates. Make sure your client wants to stick around. Show them the ins and outs of your software and be ready to step in if your assistance is needed.
6. Recruit A Reliable Customer Support Team
The frustration that results from software that has gone down is understandable. Businesses may have come to rely on your software to conduct their everyday operations.
As a startup, you may run into functional problems like these early on. You must handle them smoothly. How you deal with issues says a lot about your business's professionalism.
Be as transparent with your clients as possible. Don't delay the repair of technical issues, and don't let them become buried problems that your company will never revisit.
You Can Run A Successful SaaS Business, Even As A Startup
As a new company, it can be easy to get caught up with the internal operations of your industry. While perfecting your software will improve sales, it's often not enough on its own. Use this guide to improve your SaaS sales process. Elevate your business to the next level by adding a personalized touch to each sale you make.
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