One of the most vital elements of a company’s success is the sales process. The sales process sets the tone for target prospects and customers’ perceptions of a company. Moreover, it also defines whether you will make a sale or not. If you own a SaaS business, you should know firsthand that SaaS sales are completely different from traditional sales since buyers do not need to commit upfront to purchase. Instead, your buyers pay for the SaaS service monthly or yearly.
There are various elements that go into building an effective and working SaaS sales process. This blog post will focus on key tips and steps to help you establish a successful process.
What are SaaS Sales Anyway?
The process of selling and trading online software delivered via subscription-based models is called SaaS sales. Not too long ago, people had to purchase a physical copy, a CD or floppy disk. Today, with the rise of high-speed internet, it becomes highly possible to download digital copies.
However, with SaaS, users can “rent” software services via subscription rather than purchasing them outright. So, instead of installing applications on individual computers, the users can use them via the cloud, accessing them anywhere with an internet connection.
This only means SaaS sales will require a different approach. Rather than trying to close a sale and moving forward to the next leads, SaaS sales mean asking your target prospects to keep on buying. It may be better to think of the sales funnel as an uninterrupted sales cycle with no designated ends.
Steps in Creating a Successful Sales Process
Define your sales goals
Before you can begin selling your SaaS products, you must first know your goals – What exactly do you want to achieve? Are you looking for new clients? Do you want to increase your ROI or minimize costs? You should know what your goals are so that you can effectively develop a sales strategy that can help you achieve these goals.
Create a sales plan
Without a concrete plan, it isn’t easy to know where to begin. Create a sales plan that can outline what steps you have to take to reach your ultimate goals. This may include determining the channels you prefer to market and sell, estimating how much it may cost and when it must be implemented, and setting up deadlines for every step.
Build relationships with your prospects
A great way to sell your SaaS products is to build relationships first. Your target prospects will be most likely to purchase from your company, which they already trust and feel comfortable with. Ensure that your SaaS reps are always available, listen to the prospect’s needs attentively, and ensure value to the service.
Get started with the sales process
Once you have already defined your goals, plans, and sales process, it is time to begin selling. There are several different ways to sell your SaaS services and products and you can start first with a demo. Product demos are a critical step in the sales process, which is always true to their sense.
The goal is to improve demo effectiveness. But how can you improve it? Simple, use a browser-based demonstration software. The software showcases your product’s best features in the most seamless and easiest ways, nudging your prospects to purchase your products right there and then.
Stay motivated and focused
It will always be tough to keep up with the momentum whenever selling your SaaS services. However, remember this – if you do not sell and make the cut, your company will not get its target ROI. So, stay focused and motivated, stick to your goals, prepare a great product demo presentation and convince your prospects that your SaaS products are the best.
Four Stages of SaaS Sales
Pre-launch stage
This is the phase where you try to get your SaaS products off the ground. You may find yourself doing things such as recruiting users, creating content, or building a website.
Launch stage
In this stage, you will focus more on getting new prospects as much as possible. You can run marketing campaigns, offer demo presentations, offer discounts and free trials, and create incentives for signing up, like bonus features.
Growth stage
During the growth stage, you will focus on expanding your client base and increasing your revenue. There are so many things you can do in this stage – you can focus on your marketing campaigns or perhaps start selling additional SaaS services or start developing new features.
Maturity Stage
In the maturity phase, you will concentrate more on maintaining your existing customer base and slowly growing your revenue. You might stop running your marketing campaigns and focus on retaining your customers with better services and product offerings.
Prospecting and Qualifying your SaaS Sales Process
Now, let’s dive in next to the different steps you have to take in order to prospect and qualify your SaaS sales effectively:
Research your market
Before you sell your SaaS products, you must first understand your target market. Conduct some research on the latest trends affecting your industry, and discover what your prospects want and do not want.
Cite a list of prospects
Once you already know your target market, it is time to build a list of your target prospects. This means looking for contacts in your sector and researching anything about their business. You can also cold call or email your target prospects.
Qualify your prospects
Once you already have the list of your prospects, it is time to begin qualifying them. This means identifying whether they are a great fit for your SaaS products and determining if they are likely to be interested in availing of your services.
Sales process and tactics
After you qualify your prospects, it is time to develop a sales process and strategies that work best for them. Giving a great demo is one of the first few steps. So, we suggest becoming creative with your demos and making them more personalized and tailored to your prospect’s expectations.
A demo helps you discuss your SaaS products with your prospects. And there is a need to be equipped with the latest tools to impress your prospects and ultimately close a deal. Actually, making use of the top web-based demonstration software comes with a great reward – turning your prospect into a customer. Clearly, that is a great deal right there.
Streamline Your SaaS Sales Process with Demostory.io
The SaaS sales process is unique and often requires a different approach. So, with the right strategies and tools in place, you can successfully sell your SaaS products to your prospects. One aspect you should focus on when designing your sales process is your demo, and a demo helps you deliver what your prospects expect.
Start delivering a great demo experience to your prospects using Demostory.io – an interactive demo software that gives a more personalized demo experience. It streamlines your overall sales process and makes it easier for you to handle every aspect of it.
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