Businesses are now looking forward to moving their operations to the cloud. Due to the same reason, there is a high demand for SaaS solutions as well. However, you should still have a clear understanding on how to sell SaaS solutions effectively. This will help you to overcome competition In this context, you need to understand what is MEDDPICC, and how to best implement this salesforce strategy in your sales team. and get the maximum returns in the long run. Here are some steps that you can follow to enhance your effectiveness with selling SaaS solutions.
- Discover your USP (Unique Selling Proposition)
Never take your applications’ worth for granted. What seems to you as an apparent advantage may not be quite as evident to a prospective buyer. Customers will appreciate the importance of your B2B SaaS products if you properly express why they are important to them and how they vary from competitors’ offerings. When you highlight the USP, you can sell SaaS online without a struggle.
- Make your free trials simple as possible
When the word “free” is spoken, customers rush to an offering. Making clients jump through hurdles only to get a trial in B2B SaaS, on the other hand, is a sure-fire approach to produce high drop-off rates.A three-step activation that needs just minimal registration (an email and a password) is much more appealing. You can maintain the momentum by establishing a series of conversations with your consumers as the trial develops. This may result in a 20% to 40% rate from free to premium.
- Focus more on onboarding your customers
Onboarding is the process of assisting your clients with activating, configuring, and maybe migrating data to their newest SaaS apps. It is also necessary for a profitable SaaS sales practice.
Customers are much less likely to utilize your applications if they are not properly onboarded. Customers are typically hesitant to pay for something that do not use, therefore poor or absent onboarding may result in a churn rate of up to 80%. It may also place a lot of strain on your customer care crew, who’ll have to cope with a constant influx of dissatisfied clients. Thus, a good onboarding program is essential to meet the goal and this is what defines sales onboarding, giving your new hire the tools and confidence to smooth this process.
- Offer incentives to sales
Incentives are indeed the soul of a successful, results-oriented sales staff. However, quotas that were successful in the era of huge, on-premises software purchases are no longer as effective in the era of SaaS. When you pay your sales force a predetermined incentive for each service provided, their attention naturally switches to increasing sales volume. This, however, may result in poor activation rates—and dissatisfied customers who never utilize or understand the value of the SaaS they’ve acquired.
A compensation model based on new employee and activation rates is a better approach. This will encourage your sales force to direct clients to solutions that they might actively utilize. Customers will realize why your B2B SaaS service is critical to their business as a result of this approach, which will increase client retention.
- Use a personal touch
Consumer electronics have conditioned us to expect that applications will sell themselves. However, when it came to B2B SaaS, this is just not the case. Buyers need guidance from a person. Even when a digital marketplace has a limited, tailored app portfolio, more than 90% of first-time purchases are made via offline channels such as contact centers and field sales.
- Bundle applications with essential services
Buyers are constantly looking for a good bargain, hence why bundles are so popular. However, when it comes to B2B SaaS, multi-app packages often confuse both the sales pitch and the sales cycle.Instead of bundling applications, a preferable strategy would be to bundle apps with your key services. A telecom company, for example, may bundle a mobile internet subscription or a core service.
Final words
Now you know how to sell SaaS solutions. Make sure that you adhere to these tips. Then you can get the best returns coming on your way.
