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So let's look at some powerful SaaS Sales and Growth strategies. We can segment this process into five ways:
Go-to-market
Consider you've built a product or feature that people need. But how would you actually deliver it to the right audience? This is where the GTM strategy comes into play. It covers identifying the USP of the product, demography, fitment, pricing, and competition, and then taking it to the market.
To launch a successful product, you must develop a go-to-market strategy (GTM). To drive sales and gain a competitive edge in a market, B2B SaaS consultancies formulate their GTM strategies with SaaS outsourcing firms.
2) Define Product led organic and inorganic growth strategies for SaaS products
Why do SaaS products need a growth strategy? It's simple! Growth strategies for SaaS products aim to increase market share through a goal-oriented approach. Depending on your business's needs and resources, it can be long-term or short-term and gives you an edge over your competitors.
It is important to develop a strategy to increase sales, profits, and revenue for SaaS products. Customizing your strategy to your target audience and upgrading or creating new products to fill market gaps will help you accomplish this.
Define Direct Sales Strategy
Defining a direct sales strategy includes creating meaningful messaging around the product, developing a value proposition, and scoping out ICP (Ideal customer profile).
Most SaaS consulting services today rely on online direct sales methods. These methods capture the leads via websites, social media channels, digital campaigns, etc. to set up your pipeline.
However, designing such strategies require extensive planning and a lot of experience.
Important Aspects of Direct Sales Strategy
It covers the value proposition which is the competitive advantage of a SaaS product, including what makes it innovative and unique to your prospects.
You can incorporate Value Proposition in direct sales to make a better outline of the strategy.
This SaaS value proposition can give clear and compelling answers to your clients.
The value must be encapsulated in a short, interesting phrase which is why it is so important to have a compelling piece or catchphrase.
Another part of direct sales includes ICP (Ideal Customer Profiles). It's easier to target your marketing campaigns and budgets on prospects that are more likely to convert when you know the unique characteristics of your ideal customers.
You must do the work to determine the ideal customer profile for your business since there is no one-size-fits-all ICP in business. That is why most SaaS consultancies rely on b2b lead generation services.
Create and increase online presence
An online presence can help you increase brand awareness and you will be able to generate leads through various digital channels.
Early SaaS services were limited and confined to specific business domains, but that is no longer the case. You can make the right kind of noise with digital marketing. Additionally, it assists you in generating maximum ROI with minimum investments by creating your brand image and establishing public relations.
Your approach should be to portray your product in the most effective manner and clearly demonstrate how it can solve the specific business problem. This can be achieved using different digital channels, such as LinkedIn or your website blogs.
Establish the operating model for your sales team in the company
Under this strategy, you can establish Inbound/Outbound lead sales teams, and define KRAs, processes, lead journey, lead assignments, as well as conversions. But how?
You can build your own outbound sales team or simply outsource the process. Most SaaS companies find the best b2b lead generation companies who will generate leads and close deals for them.
Once you figure out the sales team, the next step would be setting the KRAs. Although customer success cannot be reduced to a metric, it is possible to assess how much your business benefits your customers via Key Result Areas (KRAs).
Therefore, customer success management is measurable in a sense. This allows you to monitor the health of your customer relationships and take proactive steps to make them better.
It also helps you to map customers’ journeys and shows interactions between a company and its customers across time and channels. With a SaaS customer journey map, you can see how users interact with your software at every stage of their journey.
Create Outbound lead generation programs
These programs can help you compile leads, database, do lead mapping, Lead cadences & prospecting.
A smartly designed program helps you segment the B2B database based on industry, location, company size, tech installs, and funding. But how would you build these programs?
It can be done by creating correct email and call campaigns. In this case, you will need a reliable database and an adept sales team.
The best sales leads database can be compiled by partnering with the right B2B saas sales consulting.
Once you get the hands-on database, try to write highly personalized emails including follow-up emails.
It is crucial to understand your Ideal Customer Profile. Knowing your customers' problems and challenges will allow you to create email copy and subject lines that focus on those problems.
This will increase your open rates and response rates, resulting in more opportunities for you.
Create outstanding demos and content around your products
How do you make a good SaaS demo? Just keep the content short and sweet. Your SaaS demo script should demonstrate how easy it is to use your product, so incorporating every feature might be overcomplicating it. You're not going to get many sales for a full product if the demo is hard to understand or use.
You should begin with your genesis, why you focused on that pain point and other aspects of your product. Make sure you demonstrate what makes you a great choice among your competitors.
Hire and manage the right sales talent
Make sure the members of the sales are allocated with correct roles based on their expertise
The most common way in which sales teams are formed is either from the bottom up or from the top down. A bottom-up team hires young account managers and promotes them from within while a top-down team hires a VP of Sales who then hires a senior team. Hiring large teams of entry-level reps tends to be expensive, since each rep books a smaller quota.
SaaS is a relatively new business model (invented in the late 90s), so hire an experienced VP of Sales who knows SaaS! However, startups rarely have the resources to hire such experienced sales executives, particularly when entering foreign markets. That is why most start-ups prefer outsourcing SaaS sales at the initial level.
Establish Productivity and Performance
We must optimize KPIs in SaaS when it comes to productivity and performance. You can then monitor and track conversions across sales channels. How?
Consumers access your app or website from multiple devices and online communities today, making it more complex than ever. Your next repeat customer might find your display ad in a newsletter you've never heard of, or receive a recommendation from a coworker in Slack.
Using this data, you can identify more sources of qualified traffic and determine which shopping experiences are most likely to convert.
Off-domain tracking, cross-device tracking (what device are they using?) and attribution of offline conversions to online impressions are all essential to monitor and tracking conversions
Motivate and incentivize your sales team
You can motivate your team to reach revenue goals through a well-balanced SaaS incentive program. If implemented correctly, tying business objectives and revenue to your SaaS sales incentive program can help cross-departmental alignment.
The key to generating leads is to find the right marketing strategy for your company, and it all starts with the right partner. You must hand over this part to an expert like Conduit Sales. It is the best SaaS Outsourcing partner that will discover where your ideal customer lives, how they search for answers, and what they care about most. Knowing their journey will help you build SaaS at scale without sacrificing sustainability.
For SaaS businesses, it is very important to have a steady flow of leads. However, leads don't just appear in front of your door when you offer a great solution. Every company has its strategy for attracting leads and SaaS companies are no exception. To help you grow your customer base, we'll introduce you to 8 scalable lead-generation strategies for 2023.