SaaS Sales – The Ultimate Guide
Having a sales team in place is an essential part of running a SaaS startup.
Without it, your business will struggle to grow and you’ll find it hard to reach your target market with no one there to sell your product. But what’s the best way to get started? And which features should you focus on first?
In this article, we’ll look at how to develop a SaaS sales strategy and how you can use specific features of your platform to increase signups and conversions by getting more prospects interested in buying.
Do you have a sales team in your SaaS startup?
If you’ve decided to build a SaaS startup, you know that having a qualified and experienced sales team is critical. A good salesperson can make or break your business, especially if operating without any oversight from the CEO or founder.
There are two ways to approach this problem: either hire professional outside help (either as an independent contractor or in-house employee) or outsource the entire process to an external firm that specializes in selling SaaS products.
Either way, it’s important that whoever represents your company has deep experience with selling SaaS—not just technical expertise but also knowledge of how businesses operate and what they need from their vendors—and is not afraid of numbers.
As long as these criteria are met, there isn’t necessarily anything wrong with having a single person take on all aspects of selling your product.
Like any other job title at your startup though, I’d recommend giving this individual multiple hats throughout the day so they don’t get too bored doing one thing over another for too long. After all, nobody likes sitting around all day!
Why is sales important for a SaaS startup?
Sales is the only way to get money. Without it, you won’t be able to hire more developers, grow your business and compete with other similar products.
If you haven’t yet built a qualified sales process and are not getting any leads, it means that your product isn’t mature enough or it has some major flaws.
Your main goal should be finding out what these problems are and fixing them as soon as possible. So that users will be interested in purchasing from you instead of your competitors.
Understand the industry
In order to be successful, you need to understand the industry and the product. You need to know what your competitors are doing, and how your company is different. You also need to know about your customer’s goals, budget, and timeline.
If a potential client is looking for something simple or inexpensive (or both), then those needs will factor into their decision-making process when it comes time for a purchase decision.
SaaS sales techniques are different from traditional sales techniques
SaaS sales are different from traditional sales.
In a SaaS sale, your job is to educate potential customers about how your product works and the benefits it can provide for their business. You’re not selling anything; you’re educating the prospect about how you can help them get more value out of their existing systems or put new systems in place to start generating value immediately.
In traditional sales, qualification is also different than what you’ll see with a SaaS sale because it’s based on whether or not they have any need at all for what you’re offering, not just whether they have some sort of underlying interest in what it does.
If someone needs to improve their workflow efficiency by 25%, then they probably have the right mindset for buying into a solution like yours that will accomplish this goal for them quickly and easily (and without much effort).
SaaS sales can be broken down into three basic principles: educate, qualify and close.
- Educate the prospect on the benefits of your product. This is important for two reasons: to ensure you have a good understanding of what problem they’re trying to solve, and so that they understand how your product solves that problem.
- Qualify the prospect to ensure they are a good fit for your product. The goal here is to determine if this person has the need and means to pay you for your service in exchange for value provided during use (a value that you should have already demonstrated). If not, it might be time to move on to another prospect who does meet these requirements!
- Close the deal by setting expectations and outlining the next steps. This is where you’ll want to make sure that both parties are clear on what will happen next, including when payment will be made and how much it will cost.
Define your sales process
- Define your sales process. You must first define the steps in your sales process and how they interact with one another. A good way to start is by creating a sales process map, which lays out what happens when someone reaches out to you for help.
- Create a sales process map and define roles and responsibilities for each step in your process. This will help ensure that all stakeholders are on the same page about what needs to happen next, and will make it easier for new hires who join your team down the road since they’ll already know their role in relation to other parts of the organization’s operations as well as how everything fits together into a cohesive whole.
How to sell your SaaS product?
One of the first steps in selling your software as a service is to make sure you have a demo. Make sure it’s up-to-date, and make sure your customer can see how the product works.
Remember that you’re talking to people who may not be familiar with your niche or technology, so be prepared to explain what your product does, why it’s useful for them, and how it works.
Also, remember that there are many ways to solve problems.
If someone has an idea for solving a problem differently than yours, or if they just think yours is too complicated, don’t get defensive!
Instead, listen carefully and try to understand where they’re coming from (and then politely tell them why their solution won’t work).
You’ll need to answer questions during every sales call about pricing and payment terms as well, so be ready with answers here too!
Create a sales system
To create a sales process, start by defining the steps in the process.
- Step 1: Prospecting activities
- Step 2: Qualification activities
- Step 3: Presentation activities
Next, define metrics for evaluating each step of your sales process. For example, “Number of prospects visited” or “Number of qualified leads.”
Make sure your product is ready to sell
You want to make sure you have a good product. That’s why you need to test your product with customers. If they don’t like it, then there are two options:
- Make changes so that they do like it or
- Don’t sell it.
The second option is the best one because it will save you from wasting time and money selling something customers don’t want.
It can be difficult to tell if customers like your product or not, so try these techniques:
Use an online survey tool like Survey Monkey or PollDaddy Create a landing page with information about your product
How to price your SaaS product?
Your pricing is one of the most important aspects of your business. It is a decision that affects everything from your sales to customer satisfaction and churn rate, so you want to get it right.
While there are many factors that go into determining how much to charge for your product or service, we can help you determine a reasonable price based on market data and our expertise in setting prices for SaaS services.
There are two main ways to determine the right price for your product or service: market-based pricing and cost-based pricing.
Market-based pricing is based on how much similar products or services sell for in the marketplace, while cost-based pricing is based on how much it actually costs you to provide that product or service.
Which SaaS features inbuilt are most important?
This question depends on your business. Some companies are in the habit of adding features for the sake of having them, which can be a problem. The most important feature is one that makes your customers happy and helps you sell more. The key here is to know what your customers want and provide it!
If you’re not sure what features are best suited for your business, ask around and get input from others at all levels of your organization.
Your sales team may have some great ideas about how they’d like to use the product with their clients; likewise, if there’s a feature that would make their jobs easier or more effective (and thus allow them to close more deals), then by all means add it!
Most important things to look for when selling SaaS products.
As a salesperson, you will have to face many challenges in your career. to handle these challenges you need proper training.
You can consider SaaS product selling one of the most difficult jobs in sales because it involves marketing and other promotional activities. The following are some of the tips that will help you in this profession:
- You should always take your time with the client. You need to understand their issues, needs, and concerns.
- The product you are selling must be useful to your customers. If they do not see value in it, then they won’t buy it from you even if they like your personality or company culture.
- You have to understand what motivates each person individually before making any recommendations about buying products or services from another company.
Understand what constitutes a good SaaS product:
It would help if you understood how each feature of your product works, its importance, and how customers will benefit from it before you start selling anything.
If a customer does not understand how your software or service works then there is no point trying to sell them something that doesn’t work for them!
In conclusion, SaaS sales can be extremely rewarding and lucrative. The key is to keep in mind that it’s not always going to be easy or straightforward. You need to put in the work, but if you are willing to do so then there will always be good opportunities out there for you!