The sales process in a B2B business can be daunting. Regular B2C businesses can easily pull off a mediocre sales strategy and stay profitable. Unfortunately, this is not the case for a B2B business.
B2B businesses have many good days, but also equally bad days when the revenue generation is not as expected. This is particularly true for SaaS businesses that offer yearly or lifetime packages as they have to regularly upsell or cross-sell products and services for a regular inflow of cash.
Therefore, devising a flexible and scalable sales strategy is extremely important for your SaaS business!
A great sales strategy can put a small SaaS startup on par with large SaaS enterprises. It is not a matter of cash reserves, budget, or number of employees, but only the sheer effectiveness and scalability of the sales strategy.
So, are you ready for the know-how of building an impeccable B2B sales strategy for your SaaS business?
If you said “Yes”, keep reading!
1. Sell Only To People Who Are Likely To Buy
Many SaaS companies make the mistake of trying to sell their services to as many people as possible. The number one thing to keep in mind - everything costs money. Every wasted second is a penny wasted from the profits.
Rather than blindly marketing to a huge audience, a better tactic would be to go the abm strategy where you narrow down your audience targeting to people that are more likely to be aligned with the challenges that your service aims to solve.
This would further help in two more crucial things:
- The research that your company would carry out in the process can expose a greater number of people that are more relevant to your audience.
- More people would get converted from leads to clients for the same amount of effort, thus getting you more revenue for every buck invested.
2. Create Buyer Personas To Align Your Business Goals
Did you know that anywhere between 5 to 7 people are involved in closing any B2B business deal, according to the Demand Gen Report survey report?
Your sales strategy should certainly incorporate a framework that not only emphasizes buyer personas but also creates buyer personas effectively by factoring in demographics, psychographics, and more!
That will empower your SaaS business to align and scale the sales tactics as per the potential buyer. It will also optimize your website's sales funnel and improve conversion rates.
3. Learn Lessons From Selling MVP
MVP stands for ‘Minimal Viable Product’.
If your SaaS business is still in its infancy and you are trying to get a product out into the market, it can be easy to get carried away by wanting to achieve perfection. The ground reality is that this is impractical.
Any product, at the end of the day, will have some faults. What is right for one may not be right for the other person. Therefore, when you have the Minimal Viable Product, you should certainly get to the market right away.
From there on, you can iterate on your product through customer feedback and scale it as your teams and audiences grow.
4. Formulate Lead Generation Tactics
To build an effective sales strategy for your SaaS business, you should consider working with a lead generation company.
By partnering with a lead generation company, you can ensure a regular inflow of clientele while keeping up profits because you are only paying a commission if or when you make profits.
Another way to rope in leads is by optimizing your outbound sales strategy. However, you require an abundance of high-quality and fresh data. ReadyContacts is one such B2B company that can ramp up your SaaS business’s outbound efforts by providing personalized information from its humongous database of potential prospects.
You can obtain email addresses and phone numbers of employees and directors of companies with more than 90% accuracy and 100% customization!
5. Put Out Content That Is Fenced
Putting out fenced or gated content is a tried and tested approach that works seamlessly almost every time.
Before signing off any deal, establishing value is very important. If your SaaS business is large and immensely popular, your value has already been established well. However, for small and medium-sized SaaS companies, creating value is a big first step.
Therefore, by developing valuable and actionable content in the form of e-books, tutorial videos, and how-to guides, and putting them behind a free subscription model that requires people to provide their email addresses, you can effectively gather many relevant email addresses to whom you can then market your products and services.
6. Provide A Glimpse Into The World Of Using Your Product
According to a study by Totango, where 550 SaaS companies were analyzed, almost 45% of SaaS products had a free online trial.
Providing free trials of your products and services can help eradicate doubts from the minds of your prospects. If your product truly lives up to its claims and the expectations of the user, they will surely find it difficult to continue their business without it, improving your conversion rate and adding to your revenue.
This sales strategy is easily scalable because it can accommodate any number of users and is largely automated.
7. Identify What Process Works Best For You
In your efforts to build a flexible and scalable sales strategy, you would inevitably stumble upon various methods; some that work and many that don’t. Identify what sales processes are working best for you and go the extra mile in that path.
You could recruit one or two more people to explore the same and if that works well, you can expand it further.
The bottom line is that there are limitless paths you can take to build a highly scalable sales strategy for your SaaS business. The real challenge is in trying to figure out which of those paths work best for your particular business and which one aligns with your business goals, company work culture, and so on.
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