First of all, you need to reach the right people within the company. Do this with cold referral emails. Once you've identified the right person, use them as input. If you do not have the ability to sell and service customers of large companies, do not despair.
You can start gaining momentum in the SMB space first and then go to the enterprise. First, you need to reach the right people within the company. Once you've identified the right person, use them as an input to the company and develop an in-house champion. During the sales process, you'll be faced with everything that makes SaaS SaaS.
Even if you think you can handle the sales process yourself, it will be beneficial to hire a sales team. A Dedicated Marketer Can Help You Navigate the Ins and Outs of Selling SaaS. This way, you can focus on other important business development activities. Assuming you offer a valuable product, people buy from those they trust, trust and like.
There are no shortcuts to this; it just takes time. That's why average sales cycles can range from 6 to 24 months, and that's why there are some deals you'll never close. The first paying customer is likely to be a small or medium-sized business that helps you move up to larger, enterprise-sized companies. Once you have your first customer, and assuming they're actually a satisfied customer, you'll have an advocate for your business who will be the testimonial of your second customer and maybe even your two-hundredth customer.
Salespeople who are already within a company, especially if they are consultative (see Section 4, above), have a clear view of the company's needs. If they can identify a need that you can solve, many are willing to make referrals without compensation. LinkedIn advertising is a natural channel for a B2B company. One of the easy things about selling to businesses is that you know your target demographic very well.
Use LinkedIn to target specific regions, companies, titles and groups. If you consider the acquisition cost for a 6-24 month sales cycle, LinkedIn is cheap. Spending hundreds and even thousands of dollars on a prospect that can generate hundreds of thousands of dollars in revenue is a good ROI. Remember Section 3, “Being a Connector, above? You must also establish contacts with the competition.
As you can see, there are many different ways to approach B2B sales, but ultimately they all boil down to just a few key points. He is the co-founder of NP Digital. The Wall Street Journal calls him a top influencer on the web, Forbes says he is one of the top 10 best sellers, and Entrepreneur Magazine says he created one of the 100 brightest companies. Neil is one of the New York Times best-selling authors and was recognized as one of the 100 best entrepreneurs under 30 by President Obama and one of the 100 best entrepreneurs under 35 by the United Nations.
Selling SaaS is the process of selling web-based software to customers. Salespeople focus on acquiring new customers and increasing sales or retaining existing customers. Service and attention are key to getting the prospect to close, because SaaS reps tend to sell at a higher price. Enterprise customers typically require account management that goes beyond the typical customer success paradigm of a SaaS product for SMBs.
Knowing your customer and the level of interaction they prefer is key. Some companies would like to hear from vendors frequently, while others “fear that recurring invitation to lunch,” according to a survey of Sapphire Ventures companies that included SaaS decision makers from Pandora and the San Francisco Giants. In addition, software companies want you to learn how to sell their products specifically so that they spend a lot of resources and funds on sales training materials and courses. However, however attractive and valuable it is to sell in the company, to say that those deals are challenging is to put it mildly.
A higher average sales price (ASP) means your prospect will expect inclusive customer service, a better business relationship, a signed contract, and billing. If you are a SaaS sales rep, ask your existing customers how they are enjoying the product with a quick registration email. Before you hire your first salesperson or start a career in SaaS sales, understand your average sales price so you can build better customer relationships. The incredible thing here is that a single large enterprise customer could drive massive growth of their SaaS business.
Because SaaS is supported, maintained, and engineered by an external company, the price is often high, requiring a longer sales cycle and more Sales and Marketing touchpoints before the customer is ready to buy. For software companies, this is when a large company (OEM) wants to integrate their software (vendor) into their system to sell it to their customers. From commission to sales cycles, models and metrics, you'll learn the different ways to sell this unique software and what you can expect from the job. When you sell to a company, start with the relationships you already have with people you know personally.
SaaS commission, like other sales verticals, is paid when a rep closes a new deal or renews existing accounts. With both base salary and commission, SaaS sales reps can expect to receive substantial compensation, but it varies by position level. Crafting a profitable SaaS sales strategy can be done both at an organizational and individual level, but it is most commonly set by a high level or even by the business owner. If you are a prospective SaaS sales representative, you must also understand the different models in order to show your knowledge during the sales interview.