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Tag: advanced sales techniques

  • 5 Biggest Sales Challenges in Selling SaaS and How to Overcome Them

    Software as a service, commonly abbreviated as SaaS, is a type of software that is hosted by a software company or single provider. It permits its customers to connect to and use apps based on the exclusive cloud-based feature over the internet.

    The customer need not need to worry about the storage. The software is backed up by the product engineers of the providers. The customer success team looks after the management of the software.

    SaaS sales can be understood as the process of selling web-based software that is accessible by the customers through an online portal. SaaS sales products help solve business-related issues.

    SaaS sales are regulated by the following sales representatives- Sales Development Representatives (SDRs) and Business Development Managers (BDMs). The former focuses on the outbound sales and qualifying leads, and the latter works on conducting product demos and closing deals respectively. Here is a list of a few most common challenges faced by SaaS founders that they face when selling SaaS, along with suggestions on how to overcome them.

    1. Qualified and Unqualified Leads
    2. Stressful SaaS Sales Cycle
    3. Choosing the Right SaaS Sales Model
    4. Conversion from Freemium to Premium
    5. Too Many Competitors

    Importance of SaaS Sales Strategy

    Like all B2B sales, the prime objective of the SaaS sales team is to generate qualified leads and revenue for the company.

    Planning gives an idea about what we are up to and paves the direction for us. Therefore, a strategized sales technique must be adopted. The decision of the SaaS sales strategy depends on the company’s SaaS adoption and development.

    The SaaS sales strategy includes various sales techniques to fulfil two-fold objectives i.e., upselling clients and closing deals.

    A SaaS Sales strategy plays a vital role in the success of the company as it focuses on the growth of the company and its position in the market, in the longer run. The SaaS sales strategy most commonly uses the subscription-based pricing model. While creating the strategy the team must focus on the following points:

    • Lead generation to turn interested into sales.
    • Focus on the target group of the market and convert prospects into consumers by introducing them to the company and its offerings.
    • The final stage of the transaction includes the agreements signed between the company and the customers thereby, resulting in sales.

    This simple 3-step transaction has to face a lot during the implementation phase.

    1. Qualified and Unqualified Leads

    Lead generation
    Lead Generation

    Lead generation gives happiness. But the same end up in tears if it does not give you a sale in return. Therefore, it is necessary to make sure that you do not waste time on unqualified leads.

    Categorization of your leads into qualified and unqualified must be followed after lead generation as not all leads require an equal amount of attention. Contacting all leads will result in a waste of time and leave you exhausted.

    Here, the team needs to come up with a strategy so that more time and focus can be given to the most important leads. This distinction could be made by a little survey through an interesting and engaging questionnaire in a Google form or measuring their quality through a lead scoring formula.

    Preparing a lead scoring model that fits your business model is a good idea. It helps to focus and save time on the most important inbound leads. It can also prepare you for future dealings with bigger opportunities yet to come in the future. The lead scoring formula gives amazing results when comes to filtering the potential customers from the free trial users who are never planning to convert.

    2. Stressful SaaS Sales Cycle

    SaaS sales cycle
    SaaS Sales Cycle

    SaaS sales cycles vary from product to product. Each sales cycle depends on various factors such as the target market, the pricing model, or even the target audience.

    It might involve dealing with unrealistic expectations at times, which creates pressure on the sales team. The only solution to this problem is- Benchmarking. It helps you get started as you have a goal set to achieve. Once the benchmark is reached, it’s no more an issue. The next step is to align the results with the expectations.

    The team should set a benchmark to predict the average sales cycle based on industry, pricing, and customers’ needs.

    3. Choosing the Right SaaS Sales Model

    Sales models play a vital role in the success journey. However, picking one isn’t as simple as it may seem. Your decision directly impacts the growth and revenue. Therefore, all the SaaS sales model options available must be reviewed thoroughly. Further, there should be a test to find the most suitable one in a limited time.

    Finally, it can be rolled out if successful. Otherwise, there should be a re-test if your sales model lacks at any point for your SaaS product.

    4. Conversion from Freemium to Premium

    This one can be regarded as the biggest challenge for every SaaS business that wants to grow.

    Many of the generated leads are of the view that they would enjoy the free trial and switch to the other SaaS product’s free trial once the previous one gets over, without paying for the product in the end.

    It’s good to know that all the free trial users cannot be convinced to pay. But at the same time, you need to pay attention to those who are showing interest in your SaaS product in a different way as compared to others. They could be the ones who would like to continue.

    That is the point where you need to create an engagement and keep those warmest leads engaged throughout the trial period. You need to set up a strategy for how you approach them.

    You need to make them well versed with the benefits and further exclusive features eagerly waiting for your customers once their free trial ends. You should let them know how that your product is important to them as they are to you.

    You must try to find out more about them and try not to overwhelm them. Take them into trust with your pocket-friendly policy and other benefits by the time they get ready to retain with you.

    5. Too Many Options to Choose From

    Too Many Options
    Too Many Options

    New SaaS products pop up like crazy. Having competition is good – it increases the value of the market.

    When a customer is looking for that one product that satisfies exactly what he wants, he faces too many options. The customer gets confused about which SaaS product to choose from when several options are presented before them.

    To make your product the most obvious and preferable choice out of many alternatives, you must think like a customer. You need to figure out the ways to stand out in the heavily crowded market.

    You need to highlight the most exclusive feature that compels your customer to opt for your offering, over the other options available to them at the same time.

    While presenting your product, you need to explain its value, how is it different from the other offerings, and how it benefits your customer.

    Your website must be customer-friendly. It must be a little more informative than your competitors; fill it with the past experiences of you and your present and current customers. The content must be such that it helps customers make more informed decisions.

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    Conclusion

    Every SaaS business faces sales challenges. Sales is not an easy task, we need to earn it. There is a solution to all the challenges. Whether it’s the lack of time to qualify all the leads, a longer sales cycle, or dealing with a saturated market. The only thing we need to do is to figure out the right strategy and find the best possible solution to get the SaaS product in front of customers.

    FAQs

    What are sales biggest challenges in selling SaaS?

    The customer is faced with too many options, converting a customer from a free trial to a paid customer, choosing the right sales model, and qualified and unqualified leads.

    Is it hard to sell SaaS?

    Yes, selling a SaaS product is not easy as there are already other companies trying to convert customers into paid customers so it is important to make your product stand out and provide the best customer service.

    Why is SaaS so profitable?

    SaaS businesses are profitable as it is a recurring model where you are already earning revenue from recurring customers as well as from new customers.

  • 10 Effective Ways to Convert Your Client to a Customer During a Phone Call

    The sale of a product is impossible without the right kind of marketing. While ads and posters have gone a long way in catching consumers’ eyes, things get a little difficult when it comes  to converting a client to customer over a phone call.

    The fear of being cheated has reduced the  possibility of this chance significantly. However, it is not a dead end. It only means that the ways  you put forth the product have to be changed. Here are a few effective to covert your client to customer during a phone call.

    Basic Research and planning
    Positive contrast of the product
    Make your point in 60 second or less
    Hype it up
    Personalisation of information
    The Right choice of words – Psychological Approach
    Follow up your client
    Flexibility
    Be supportive
    Respect their Rejections
    FAQ

    Basic Research and planning

    Before calling your client, do some basic background search about the client as well as your product. It can be as vague as their hometown or organisation. Make sure to use it during your call.

    Have a plan on the things you must prioritise. Give importance to striking pieces of information that set your  product apart from others. Only later go to the explanations of the features. The plan should be  inclusive of your tone, attitude and even your choice of words. Make sure you have all the pre requisites well in advance.

    Positive contrast of the product

    The first and the most important thing you need to do is create a positive aura around the product. It should be done before you start to convince the client. They should feel that the thing you are trying to sell is inherently good and is not made to ‘appear’ good for the sake of the sale. This is a great way to start.

    Make your point in 60 second or less

    The first thing you need to understand is that the reputation of such calls is very less. Only a crisp and intelligent addressing of the issue can catch their attention and time.

    Ask if they have  some time to spare. And then make your point in less than a minute. In that 60 seconds, you should be able to brief the client about everything from the product’s nuances to customer services. This will simplify the process for them, at least mentally, and they will be more open to further  explanations.

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    Hype it up

    The beginning of the sales call determines your success in making the client convert to your customer. Begin with a bang! Make your product sound like the most relevant thing that the client requires.

    You can cite its current relevance along with the future benefits, which will be more attractive. The key is not to give fake promises to the client but to convey the highlights of your product in an extravagant manner.

    Successful cold calls duration
    Successful cold calls duration

    Personalisation of information

    Make sure to portray the product as if it is tailor-made for them. People love to be taken care of and validated. Validating their identity is a good gesture in their regard. Maybe you can say something like, “Considering you are a person interested in so and so, I really do think this product will add value to it!” Or something on the same line.

    The Right choice of words – Psychological Approach

    The choice of words can make a significant impact on the client. Make your speech in such a way that it creates a vibe of encouragement. Buying your product should not feel like a financial  liability to the person. For example, using the word “buy” will make them feel dejected. Instead try  using the word “purchase” or “invest”, it will create a different psychological effect which will aid  in the sale of your product.

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    Follow up your client

    An important aspect of any customer-company relationship is the bond that is created. Try to follow up on the issues shared by the customer. Repeating their words in your speech will definitely  make an impact.

    Try to keep the conversation alive by validating their words and sharing your inputs regarding the same. Here, you have to ensure that the conversation does not get diverted to some other topic while you try to follow up.

    Flexibility

    Never forget the saying that Customer is King. Definitely, they are. So don’t try to impose anything on your client, or you will lose a prospective customer. You might have made a mental  target from a client when you call them.

    Even if they fall short of it, never force them to meet your targets. For example, you might have wanted the client to purchase 15 shares but they are only willing to buy 10. In such a case, don’t push them to make it to 15. After all, something is better  than nothing.

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    Be supportive

    As far as a firm is concerned, the customer is an asset for life. It is important to take care of  their future needs as well. This aspect needs to be addressed even before they agree to buy the  product itself.

    If you are able to convince the client that you will be there with them for any further assistance or that there is a customer care wing for addressing their queries, it will increase the  chances of them buying the product. No customer wants to be clueless.

    Respect their Rejections

    As mentioned earlier, a customer is one whom you have to keep close to forever. So, a rejection at one stage does not mean a complete closedown of any further contacts.

    Minute things like your way of presentation, the way you respect the client will all increase your chances in the  future. So, when they say no, respect it and don’t push them too much.

    The chances are that, next time when you call regarding a better product, they would already have a good image about  you and your company. Thus, they will feel like trusting your words.

    FAQ

    How do you approach a new client on the phone?

    The most important thing when approaching a new client is, Have all of their information in front of you and Be able to make a commitment.

    How do you start a conversation with a client on a call?

    Ask a question that is not related to the sale or Praise something they did, these are some of the great ways to start a conversation with a client on a call.

    What is telephone etiquette?

    Phone etiquette is how you represent yourself and your business to customers via telephone communication. This includes the way you greet a customer, tone of voice, word choice, listening skills and how you close a call.

    Conclusion

    The end idea is to get your client to be a customer. It is not a one day affair. So, plan ahead,  give them their space and hype your product in the most extravagant manner possible.

  • A 5-Step Guide for Copywriting

    The world of social media is noisy.

    On just Facebook alone, 30 billion pieces of content are shared per month and the figure is still rising. If you combine other platforms like Twitter, Instagram, and Quora to this figure then you’ve got a lot of competition for people’s attention.

    In order to cut through the static, you need to produce your content more wisely. That means you need to wield your words in such a way that you stand out from your competitors and speak directly to what your audience wants.

    That’s easier said than done.

    The key to writing quality content starts with sharp writing skills. And by the time you’re done with this post, you will become a social media copywriting master.

    Why is quality writing essential for social media?
    5-step guide for copywriting
    Conclusion

    Why is quality writing essential for social media?

    Writing a social media post is fairly simple. It doesn’t take much effort to conjure up a quick post, attach a link to your product and service, and call it a day.

    On the other hand, crafting a compelling copy that ensures engagement from your subscribers is tough. It takes time, skill, and a degree of thoughtfulness to create strong posts. But when you have tons of posts to create on each platform you’re on, you might be tempted to cut corners.

    Don’t give in to that temptation.

    If social media is essential to your business, then it will require a certain amount of time and resources to do it right. You’ll notice a massive difference in your results. That’s what you’re after, right?

    This article will be about a 5-step system that you can use to write better copy and hence make better posts. This system works even if you are starting from scratch and will help you write copy for your own business or become a copywriter.

    Here’s how you do it –

    5-step guide for copywriting

    Step 1 – Learn to listen
    Do you need to turn yourself into a wordsmith?

    Not really, no. A few techniques here and there, won’t hurt your sales copy. Apple’s copywriters, for instance, know how to use rhyme and rhythm to create a persuasive copy.

    But what you truly need to do is develop the skill to listen to your clients.

    When you understand what your clients are struggling with, their problems and fears, and how they goon about solving these issues. Knowing just that will take you halfway to writing good copy.

    One way to do this is to mine reviews, blog comments, and forum questions for copywriting inputs. Many amazon sales messages are taken directly from customer reviews, and we all know how successful Amazon is in selling its services.

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    Another way is to talk to your clients directly. It is a lot easier when you talk to industry experts and learn from in-depth conversations instead of conducting surveys.

    Pay attention to your client’s words, their fears, goals, and vision so that you can incorporate them directly in your copy. Make a note of the phrases they use so that your writing reflects their thinking, making them feel understood.

    Step 2 – Understand the basic copywriting rules
    What is good copy? When does it work and when does it fail to persuade?

    It is not important to just listen to your clients. To write good copy you need to be familiar with copywriting rules as well. These rules help you create the right balance of benefits and features.

    A good copy has both substance (features) and emotional appeal (benefits), and only then will you be able to persuade your audience to use your services.

    Basic copywriting rules include:

    • Be specific to boost credibility
    • Match benefits and features
    • Use proof (reviews, testimonials) to make people believe you
    • Nudge  people to take action
    • Overcome objections
    • Be bossy and confident in your call to action

    These rules will guide you and help you evaluate your own copy.

    Step 3 –  Study the experts
    Want to understand copy structure?

    Studying the experts of this industry will help you understand how all copywriting elements fit together.

    For instance, while studying a sales page, you need to pay attention to the following:

    • What is the purpose of this page? What action is the reader required to take and if the said action is mentioned clearly?
    • What reasons are provided to the readers to take that action?
    • Are the benefits and features of the product or service communicated in a clear manner?
    • How does the page build trust among its audience? And why do you believe the content?
    • How is the information arranged? What comes first, the most important aspects of the product/service or the least important ones?

    When you study how experts of the trade communicate with their customers, you will learn to pick up the patterns of persuasive writing, which will undoubtedly help you writing your own copy.

    Step 4 – Streamline your writing process
    If you want to write persuasive copy fast, then a tried and tested process is a must.

    Because without a process, your copy can turn into a mess.

    First, you need to collect all your persuasive arguments – list objections and how to counter them, list benefits and features of your product, and proof that will help you establish credibility with your audience.

    Second, arrange all your arguments in a logical order. It goes without saying that you need to structure your writing in a way that, you convey the most important arguments first. A reader might simply ignore your message if you start with weak arguments. Once you have created an order, writing the first draft becomes relatively simple.

    The final step of the process is to revise and edit your copy. You cant afford flabby phrases and redundant arguments. Make your sentences smooth and optimize your copy for search engines.

    The point of having a smooth copywriting process is not only to make it faster but ensure that it is complete and persuasive.

    Step 5 – Practice and evaluate
    This is probably the trickiest part of the copywriting process, especially if you are doing it by yourself.

    The quickest way forward is to work with someone who has a complete understanding of the process and can tell you what you’re doing wrong.

    But not all of us have the budget to hire a coach or subscribe to an app. In that case, learning to evaluate your own work will come handy.

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    To do this, you have to focus on one specific aspect of your writing at a time. For instance, go through all the arguments you have made in one copy, and compare when with another. See, if you have followed the same structure in both copies or if you deviated in some arguments. Also, review how you are establishing credibility with your audience in both the copies and make changes as you see fit.

    Practice becomes easier when you focus on one aspect at a time.

    Conclusion

    You may have heard people saying that writing is a talent, or maybe the opposite that anybody can write.

    In the copywriting industry neither of these statements are true.

    Copywriters are professionals who practice their craft daily. We are not born with an innate talent for copywriting, but it’s definitely a skill that can be acquired through a bit of persistence and practice.

    The most important thing you need to do while writing copy is to be yourself. You don’t need to turn into a super sales expert or a professional copywriter. Instead, just listen to your clients.

  • How to be a Better Salesperson

    “Selling is really about having conversations with people and helping improve their company or their life. If you look at it like that, selling is a very admirable thing to do.”- Lori Richardson

    ‌‌A salesperson is a professional whose role within a company is to sell the product or service that are provided to them. So, How to be a better salesperson?

    In Nutshell, we can say that it involves looking for potential customers, promoting your product, assisting customers with complaints or inquiries related to products, services, and many many more activities.

    To conduct so many duties, a salesperson must be equipped with several virtues to be able to work efficiently and breakthrough every task.‌‌A basic theory by David Mayer (as published in Harvard Business Review) is that a good salesperson must have at least two essential qualities: empathy and ego drive.‌‌‌‌

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    ‌‌Feel Your Customer

    ”Pretend that every single person you meet has a sign around his or her neck that says, make me feel important.’ not only will you succeed in sales, but you will also succeed in life. – Mary Kay Ash

    It is not very important to agree with the feelings of the customer; a great salesperson makes an empathetic connection with the customer to understand their state completely. It is a central quality to be able to sell him/her a product or service, which must possess an ample amount. Once you can touch the soul of the customer, you get the power to affect his/her mind too.

    A salesperson simply cannot sell well without the invaluable and irreplaceable ability to get great feedback from the client through empathy.

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    Ego Drive

    ‌‌The second of the essential qualities needed by a good salesperson is a particular kind of ego drive that makes him want and need to make the sale in a personal or selfish way, not solely for the money to be attained. Everyone aims to achieve big in life. And for that, you need to take small steps at first.

    Each step covered act as a power booster to climb higher. His sentiments must be that he has to generate the sale; the customer is there to assist him in fulfilling his particular need. In effect, the deal—the conquest—provides a powerful means of enhancing his ego. His self-picture improves dramatically under subjugation and diminishes with failure.‌‌‌‌‌‌

    While these are some natural qualities that can also growth time, effort and patience, we provide you with some practical tips to achieve the goals of being a better salesperson:

    Tips to Being a Better Salesperson

    ‌‌‌‌Know Your Product

    ‌‌While many tricks in the past have worked for sales, the increasing access to information has made it tough for companies to befool people. Hence, it has become increasingly important to know your product in and out as much as you can before you make the pitch. Nothing is more off-putting for a buyer than to find an ignorant sales representative.

    How To be a Better Salesperson
    Know Your Product

    ‌‌‌‌Be an Active Listener

    ‌‌” We don’t learn from talking; we learn from listening.” It is human nature to wait for your turn to speak in any conversation, but a smart salesperson listens deeply for multiple reasons. Listening leads to forming stronger bonds and trust with the client.

    How To be a Better Salesperson
    Be an Active Listener

    Also, the information contained in the conversation can help them position the product or service better to the customer in real-time. Such discussions can bring out some essential highlights which can be beneficial for future dealings. So, as Brian Tracy has stated,” Make a habit of dominating the listening, and let the prospect dominate the talking.”

    ‌‌‌‌Work Harder

    ‌‌There’s no such thing as a born salesperson. Great sales representatives make it look easy, but superior performance usually indicates that a salesperson has taken the time to hone their skills and is continuously iterating to help their prospects better. The efforts they give to make every sale gets undermined by the number of sales in the given period say in a month.

    It is not easy to convince people all around because they find all kinds of heads, from easy-going to hard-hitting, from fickle-minded to hot-headed. Dealing with such a variety and being successful in it is a significant achievement in itself.

    ‌‌Follow Up

    ‌‌After the proposal is made, the client’s reply is much-awaited. But waiting in itself is not enough. Always remember,

    ” It’s not your customer’s job to remember you. It is your obligation and responsibility to make sure they don’t have a chance to forget you.” – Patricia Fripp.

    How To be a Better Salesperson
    Follow Up

    A salesperson has to conduct some quick follow up calls or emails or both. Many a time, the sales rep don’t know if the client even opened their email. HubSpot Sales helps with this issue, letting salespeople know when and how often a prospect opened their email. With this information, they can follow up at the most optimal time.

    ‌‌Personalize Your Approach

    ‌‌To learn as much as you can about the prospective client and then using that information in your conversation with them can be useful in understanding the real pain-points people are facing at the time and help build their product up to suit the needs of the client. Mould your words enough to convince your client that your product will solve their problem or highlight that problem as well if the client was unaware of it.

    ”Approach each customer with the idea of helping him or her solve a problem or achieve a goal, not of selling a product or service.” – Brian Tracy‌‌‌‌

    They’re Always Selling‌‌

    As they leave the office, their selling practice goes beyond the hours, and they engage with the prospective clients at dinner, parties, social gatherings and even at a barbershop if the opportunity presents itself. Bottom Line: It is not a job anymore; it is a habit to sell.‌‌‌‌‌‌

    Persistence is the key to unlock the bonus treats in the business. Being energetic, structured and resourceful is always needed. He/she must be able to handle time constraints while achieving the required goals.