Top Four Strategies For B2B SaaS Companies To Drive More Sales
SaaS is a billion-dollar industry and there is no better time than now to be a part of such a booming industry. In a SaaS company, the sales team focuses on acquiring new customers and retaining or upselling current customers. The Salesperson should be well versed in selling your product, features of the product, giving demos and answering customer questions.
B2B SaaS Companies are fond of a formula when it comes to revenue growth.
Revenue Growth = Price x Volume = Average Monthly Recurring Revenue (MRR) x New sales Velocity
As you can see from it, the price of SaaS is usually lower than the price of licensed enterprise software. Therefore, the low price point creates enormous pressure on volume – triggering the SaaS companies and forcing them to improve sales on a continuous basis. In other words, this means that B2B SaaS companies practically need new customers every day and every week (in some cases, every hour as well). In the real world, though, that sales velocity is not so shiny – all thanks to the adoption costs and risks that reduce it.
Today, we are listing the four most powerful strategies B2B SaaS companies can take advantage of and drive more sales.
# Prioritize correctly by eliminating the noise
A lot of SaaS companies are dealing with too many phone calls and even more prospects. The thing here is, they often fail to pinpoint the most promising prospects and the most potential customers with real intention to evaluate the service and buy.
This is where eliminating the noise and getting a grasp of deeper targeting and lead generation comes by. In order to focus on these opportunities, every sales team should have an ‘intention indication’ which is something that is usually reflected by their time and investments during the evaluation process. In short, that means that every lead in their pipeline should be measured when it comes to engagement and prioritized accordingly.
# Increase the contact rate
Salespeople know that contacting prospects increases the chance of a bigger and better deal. The truth is, due to the volume and geography – phone calls are not an easy pill to swallow. That is why in order to increase the chances of making contact, salespeople should follow up while the prospect is within the context and during their time of using the web application. There are a lot of tools that help in that matter and that are able to track, monitor and pinpoint the leads that are the warmest (or most interested) ones.
# Smart and personal sales calls
What most call centers tend to avoid are phone calls that are targeted, smart and ones that use all the information you have on the prospect in order to be personal and address the needs of a potential client. This should be on the number one spot for all B2B SaaS companies who want to drive more sales and make most of their calls. Instead of repeating their entire conversations, their calls should be effective and reflect the terms of the information the lead has submitted.
The best way to prepare for each and every sales call is to review the demographics information on the lead (the size and industry of the organization and their role in it) as well as the usage information (what have they done so far during their trial, how was their experience with the software and their usage).
These two issues are vital in forming an intelligent view on the lead status and provide accurate information that can be the cornerstone of interaction in the future.
# Timely follow-ups
Every potential customer deserves the time to absorb the information available from the website and respond to it accordingly. Only that way, they can truly understand the value of the service and properly evaluate it. That is why timely follow-ups are vital to the success of every B2B SaaS company.
The greatest practice with follow-ups is to map out the different milestones during the evaluation process and work with clear benchmarks and definitions of prospects that are on track and the ones that aren’t. Only that way, managing the milestones can be easy – and driving more sales can be a reality.
A Final Word
In the end, all successful B2B SaaS companies follow proven methodologies when it comes to their potential audience and the leads that are funneled from it. Using only the information this audience leaves as a filter, they increase their chances to sell more and faster. This improves the predictability and consistency of results – and gives the long-term scaling that is critical for every B2B SaaS organization. VSynergize has helped large enterprises grow and introduced them to a multi-channel multi-touchpoint marketing power which has impacted their revenue growth vastly. If you have any questions shoot us an email at info@vsynergizeoutsourcing.com or call on 855-203-8196.