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5-Step Guide To Kick Off Your SaaS Sales Motion As An Early Startup in 2023
Welcome to the world of SaaS sales! As an early startup, it’s essential to have a solid sales motion in place to drive revenue and grow your business. But where do you start?
That’s where our 5-Step Guide comes in! In this comprehensive article, you’ll discover practical, actionable tips and strategies for launching your SaaS sales motion and hitting your sales targets in 2023.
Step 1: Create A SaaS Sales Strategy
First, you need a lean strategy. The lean plan covers the very basics of what your enterprise is about to do. But, instead of writing a 50-page plan, you should focus on the bare bones of what your SaaS business is and what your sales are about. It is the perfect tool for businesses that are testing new ideas in sales.
Your plan will comprise mainly three steps which we will explain in detail as follows:
– The strategy. Describe your product and its uniqueness, and what you are bringing to the table. Next, define the problem you are solving for customers and its solution. You will also include your target market and its description. Finally, the plan will contain your competition and what sets you apart from them.
– The tactics are all about monetization. Descriptions of the channels you are using, and how your products are going to be sold. A list of the marketing activities that will attract your customers as well as the new hires that you will need to add to your team.
– The schedule. In this step, you will define the process of moving forward with your sales. The schedule includes milestones and timed tasks. These milestones will be anchored to fixed dates, with responsibilities and budgets to hold yourself liable in case of milestone failure.
Step 2: Build Your Sales Team
Building your first SaaS sales team can be challenging, but it is crucial to the growth and success of your startup. A high-performing sales team can help to drive revenue, increase customer acquisition, and build brand awareness.
If you are to join an established market, you will want sales professionals with rich experience who are already familiar with your niche.
If you are in a non-developed market, it is preferred to hire those with more entrepreneurial skills, who can aid in developing sales funnels to join the market.
Step 3: Train & Coach Your Sales Team
It is not necessary to include a training program before your first hire. Most of the time your new employees can learn through observation or by asking their colleagues. But at some point, your sales team will grow and you will need everyone to be on the same page.
The performance of your sales representatives plays a crucial role in the success of your business, so it’s essential to set a specific, time-bound target for your SDRs (Sales Development Representatives) or BDRs (Business Development Representatives)
It is your job as a good manager to let your sales representatives know how you want them to perform, where they are failing, and how to improve. Remember to criticize constructively, and acknowledge and praise their strong points and good work. In the end, your sales team works as a single unit, and the only way to achieve it is by having proper training and coaching.
You can read more about effective employee training programs and how to implement them in the article by Elucidad.
Step 4: Sell The Outcome, Not The Comparisons
Companies often compare themselves to their competition. A rather better approach would be to sell the benefits you offer. The following three options are ways to set yourself apart and make a difference.
- Your pricing: You understand how to correctly price a product and you do it better than your competitors. Check out our comprehensive guide on different SaaS pricing models and learn how to effectively implement them in your customer acquisition journey.
- Your quality: Your product excels customers’ expectations.
- A combination of the above: you offer better value or “bang for your buck”.
In the end, selling is about the benefits you offer to your customers and how your product facilitates and improves customers’ lives. Thus, present your customers with the benefits of your product or service with outcomes and results they can achieve using your product, raise its value perception via marketing, and sell the solution it provides, rather than the product itself.
Step 5: Assess your negotiation approach
The negotiation process begins the moment you have a lead entering your pipeline and it lasts until you close the deal. Negotiations are all about adjusting the deal with a potential customer. Always listen to your prospects and react to identify the challenges your future user has. Come up with a counter price if a customer asks for a discount. Always remember to negotiate to protect your margins. Assess your approach for maximum revenue. What are your strategies? What ways are you utilizing to negotiate? In what way are you communicating with your leads? Is your strategy aggressive enough or not?
In addition, offering flexible payment terms to your customers can be a lucrative strategy.
With Comfi, your customer can split their annual subscription payments into 12 interest-free tranches over 12 months, while Comfi pays you the whole sum upfront within 7 days. Your sales representatives will close leads more effectively, increasing your business revenue instantly. Reach a new level in negotiations and turn your MRR into ARR by incorporating Comfi into your payment system.
A lot of thought and planning is required to get that first sale. Negotiations and sales have many variables which you may not be aware of until you have tested the market and customers. But keep in mind that if there is a first sale, then the tenth is not that far. Use our tips as a guideline on how to kick off your sales, and we are certain you can raise your sales quota in the near future. Consider implementing Comfi as a payment method to skyrocket your sales and close leads more effectively.
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