The number and type of SaaS product users have increased rapidly in recent years. No matter it is a small, medium, or large business firm, the growth of Saas technology has remained constant through all the types of business firms.
According to BlissfulTech.com, in 2018, around 169 SaaS acquisitions happened that averaged around 1.3 billion dollars. Also, IPO valuation increased by 3.5 times in 2017. Moreover, SaaS IPO all together reached around 38.2 billion dollars in 2018.
These numbers are said to grow in the coming years as more and more companies and customers are adopting SaaS technology in their business firms. Also, customers are adopting the SaaS model to satisfy IT needs within a specific IT budget.
Users are relying on multiple SaaS technology solutions to address their technology requirements targeted towards customer use and application use. SaaS solutions and technology has enabled organizations to experience higher employee engagement that helps them in providing better customer experience throughout the sales process.
Also, from a customer’s perspective, SaaS products are offering greater value as compared to on-premise software deployment.
Top Ways To Become An Expert In SaaS Sales
1. Have A Strong Grip Over Technology:
To be successful at SaaS sales, you must be comfortable talking and discussing technology with your customers. Your sales rep will need to know the technical specs of the product they are selling and see how well it is fitting in with the technology in a business software tack.
SaaS Technical knowledge is necessary or else you won’t be able to answer any technical queries related to compatibility of data and related things asked by your customers to them. This can result in you losing your leads and not achieving the required sales goals.
Also, the SaaS reps have to sell products in a highly technical market. Therefore, having knowledge of just your industry is not enough. You must have the general knowledge of the technical trends and development happening globally.
Keep an eye on the latest development in the technical field. If you are fluent in technology use, you will be able to easily use it and demonstrate it as well to your customers if the need arises.
2. Make Prospects Understand The Value Of Your Product:
Your product might be very innovative and of great use, but your prospect might not see it that way at the initial encounters with the product. Also, many of them will think to continue with their current workflow and not upgrade to Saas software.
Some of your prospects might not have the budget or are not appropriately guided because of which they do not entertain a Saas software. But this is where sales come in.
A great SaaS sales rep will be able to convince their prospect to see the great value offered by their product and tell them with evidence and facts that how it will revolutionize their business from within. Also, they need to prove or show the ROI of a Saas product because customers do look for a fruitful return on their purchase. They should feel satisfied spending money on your product only if they get the mentioned value of the product.
3. Focus On Creating Strong Connections With Your Prospects:
The traditional traveling sales rep does not exist in today’s SaaS industry. Most of the Saas businesses focus on inside sales with their sales team contacting their prospects through sending emails and making phone calls.
Also, the SaaS sales reps often freeze sales deals virtually without ever meeting their prospect in person or shaking hands by being present physically. Therefore, SaaS sales reps have to develop interpersonal relationships with their prospects using emails, phone calls, SMS texting, and video calls as well in some cases.
It is sometimes difficult to convince your prospects into buying your product especially when you have never seen them and just communicated virtually. But a great SaaS sales rep has the communication skills that allow him to convince his prospect on emails or phone calls.
Businesses should hire and look for such reps. Also, if your existing sales rep is a quick learner, then you can teach them these skills and see the difference yourself.
4. Learn to handle objections like a Pro:
SaaS sales ain’t easy. Your sales rep needs to preempt all the common sales objections, should know the competition and value proposition of your product to quickly convince and answer any objections raised by the client
5. Give product demos that sells:
Most often sales rep over sell the features. Stop falling in that trap. Sell and show features which are core to the client’s business.
6. Keep your SaaS free trials short:
Most often to win the customer, the trial goes endless and you keep wondering why the client is not closing. Keep the saas free trial shorter than what you’re currently offering. It should not be more than 7 days . 7 days is good enough time for a customer to see and decide the value that you bring.
7. Call every signup user within 5 mins
Call every trial signup user within 5 minutes of signup to see a huge difference and improvement in the reach and conversion rates. Most often, sales rep underestimate the difference the 5 minutes would make. Calling within 5 mins can increase your chances of reaching a lead 100 times higher as he would be sitting in front of the computer and not in a meeting. Moreover, would know who you are and why you are calling.
8. Make your customers use your product:
There is a lot of difference between taking a gym membership and actually using the facilities. Until and unless you use would never see the difference that its makes to your body. Similarly for SaaS, its just not about selling,ensure your customers keep using your product to bring in the stickiness and also realise the value that you bring.
Using NeoDove, you will never lose the sights of your leads. Also, you can monitor your engagement with the customer, thanks to NeoDove. Using it, you will be able to monitor how your sales team is performing and analyze their task to task routine and make changes if needed.
Sells is hard. You have to keep selling the value of your product to every customer month after month, year after year.Some customers would churn some relations and would turn sour. That’s the part of the game. However, the trick lies in picking the right customer and providing them the right value. If you’re able to do this, people would flock to you to achieve their goals and increase revenue. Your key focus should be not to make you succeed but put all energy and efforts in making your customers successful and success would follow you.