Software as a service, or SaaS, is a very thriving industry. It can be challenging for you to distinguish from the competition, regardless of whether you're just starting out in this field or are already well-known.
Your product won't sell itself even if you have a brilliant SaaS solution that answers widespread issues. Thus, to successfully market your SaaS product, you must put in the effort and take careful consideration.
So you should read through this list to aid you if you seek techniques to improve your SaaS product's sales.
In this article, we have gathered the best practices to help you trade your SaaS products and get the most out of them. You will have all the necessary knowledge by the end of this guide, which you can then implement into your sales strategies.
What is SaaS?
The word SaaS refers to solutions that you can access online through the Internet. SaaS applications enable you to log in to an online platform and employ the technology without buying hardware or installing the software.
Some common examples of SaaS platforms comprise online office applications like Microsoft Office & Google Suite, online calendars, and scheduling tools.
One of the significant advantages of using web-based SaaS software is that users don’t require to manage product updates for performance and protection it is a SaaS provider’s lookout; he controls that on their servers.
What do we mean by SaaS Sales?
Selling SaaS is the process of selling web-based solutions. Sales agents can employ inbound and outbound sales techniques to specify leads, qualify options, familiarise them with the product, and close deals.
While some providers price their SaaS products on a per-seat model, others use a subscription model that delivers tiered access.
Tips to Sell SaaS Product
Now let’s go forward and take a look at some of the best tips to assist better you sell your SaaS product:
1. Embrace a ‘Pull’ Strategy
A pull strategy, also known as an inbound selling strategy, aims to improve demand for your SaaS products by pulling or attracting customers. This technique invites customers to use your product to solve their issues. So inbound selling is a method that concentrates on:
- recognising leads via buyer persona
- following specified and qualified leads via the buyer's journey
- understanding your buyer's demands through detailed research
- Lastly, offering customers a personalised suggestion at the precise moment when they're considerably ready for your sales representative’s input.
2. Stay Adequately Responsive on Customer Interaction
Your selling proposal must demonstrate a customer-first mindset when offering a SaaS solution. Being responsive at the appropriate time is a fantastic method to show customers that you are paying close attention to them and their situation.
The handy way to do this is using an automated live chat attribute like HubSpot. This application enables you to connect with potential visitors and handle their questioning at the right time when they’re talking with you. HubSpot even hosts several features to guarantee maximum customer interaction.
3. Describe the Benefits of Your Product More
When you merely discuss your SaaS product's features and exciting widgets, customers might not understand its purpose. So sell your service more frequently by emphasising its advantages.
For example, how your SaaS solution enables users to save time and spend more time with their family. How does it aid in alleviating a customer's problem? Etc.
When you focus more on the product’s benefits, your customers can join the dots and vigorously see how your SaaS can become a part of their daily life or work.
4. Use Real-Life Examples for Your Product
Giving real-life examples of your product and making emotional bonds can help you sell better. However, we’re not telling you to manipulate your customers into something untrue.
Always tell them true stories about your product, like using real-life examples, maybe about yourself or success tales or how you started this product idea etc., to make them understand how your SaaS can help in a day to day life.
Combining stories and maintaining friendly behaviour can make your conversation more human and relatable.
5. Give Free Trial
Giving a free trial of your product is a convenient way to gather multiple potential customers.
Keep your free trial process less complicated so users can quickly try your service.
Further, a trial should not be up to 14 days since it can decrease customer acquisition expenses.
Using a short free trial period will make your customers feel more serious about your product and more likely to buy it. On the other hand, with a long-term trial, customers might forget or avoid buying your product.
6. Maintain Your Email Campaign
We know it's difficult to obtain a potential customer's engagement but maintaining it even more challenging. Thus, you should build an automated email marketing campaign to stay in your customers' minds.
A handy drip email marketing campaign will keep reminding your possible customers about your current and future SaaS products right from the day they sign up on your website. Sending personalised emails can help you to draw customers' attention much faster.
Further, try to use a different tone and language for diverse people in a mail when selling SaaS as per their age, gender, interests, engagement stages, location etc. it will make them feel more personalised with you.
7. Make a Short Product Demonstration Video
Showing a short video demonstrating your product’s features to cutomers will help you sell more quickly. Since by watching a video, your clients will be more able to understand your service.
Your product description video should include how the product will assist the clients and not be more than 15 minutes long.
8. Do Follow Ups
While some of your sales reps might make a sale after the exact first talk on a call or message with a client, it might take more conversations for some.
It means the more frequently you keep in touch with your leads, the sooner you can create a sale. So, doing follow-ups after the foremost communication with the client is essential.
There's no specific formula to maintaining contact with leads, just feel free and talk in your way for at least 14 days after the first interaction.
9. Promote Annual Contracts
One of the key objectives when offering your SaaS service is long-term customer retention. It entails requiring them to sign a year-long contract right away. It can lower your turnover rate and give you money quickly for your next venture.
Customers who sign prepaid annual contracts can help you to receive consistent income and revenue. In addition, money is immediately brought in and available for reinvestment.
10. Set High Prices
SaaS providers who concentrate on low pricing to remain competitive lack faith in their products. They believe that undervaluing their solution is the only way they can survive.
So you should have confidence in your products and set a high and demanded price for them, which they deserve. Being too pricey for some prospects is acceptable. In reality, your SaaS solution is too reasonably priced if you never lose business due to pricing.
11. Do Not Provide Discounts
Presenting a discount is a standard method in the SaaS sales industry to stay customers’ favourite. But when discounted sales accumulate too much, it can result in massive revenue losses. So it's not the appropriate way to sell SaaS.
Therefore, try to set fair and competitive pricing for the product. For the most significant or big clients, you can set aside discounts.
To develop a successful SaaS business, you can employ the tips and tricks explained in this article and make your SaaS sales journey much smoother.
If you liked reading this guide on selling your SaaS product, you must check out our other articles regarding the SaaS industry on Noetic. So share with us your thoughts and queries in the below comment section.