Selling a B2B SaaS product is different from selling any other traditional product you may be thinking about. A SaaS sales process cannot be the same as any typical B2C or B2B sales process. It takes another dimension to make a successful SaaS sales process.
Any business model should involve recurring revenue, making the B2B SaaS sales process different from any typical B2B or B2C sales. The market size and growth opportunity for SaaS are stupendous considering that in 2020 the software as a service (SaaS) was projected to be worth $101.5 billion.
Building the right SaaS sales process is vital for any SaaS company looking forward to growing in the industry. This article shows you the ins and outs of coming up with a reliable SaaS process.
Here is how to get started on the right path when building your sales process as a B2B SaaS company.
B2B SaaS Sales Models
There are varying paths you can take if you want to grow your SaaS sales. You have to adopt different sales techniques that relate to your product and the market you target. When choosing the right SaaS sales model, you have to consider what stage your company is in SaaS adoption and development.
For instance, if you are a stable company that is coming up with a cloud-based SaaS product for the first time, you want to look into some startups and the B2B software sales strategies that have worked for them in the past.
When you select the right B2B SaaS model for your company, you will be able to:
- Determine how many salespersons you need in your team.
- You can also establish who your ideal customers look like, where you can find them, how to interact with them.
- Know how to convince your customers to buy.
Here we discuss some of the SaaS sales models you can choose from when you are coming up with a sales strategy for your company. Each of the sales models highlighted here will consider the complexity and price of your product. A more complex service will have a higher process compared to a less complex service.
Related: B2B SaaS Sales Funnel: Complete Guide
Customer Self-Service
Customer self-service is one of the most common SaaS sales models that most companies would adopt. It is most common for those companies selling to individual consumers or B2C companies.
You should choose this sales model if you sell to customers who are more than willing to serve themselves. It is ideal for selling low-priced SaaS products in high volume.
In most cases, SaaS products may not support a full sales team, and customer service may need to be more comprehensive. Some companies that are already adopting customer self-service models include Netflix, Medium, and Spotify.
Here are some strategies that you should apply when you choose the self-service sales model:
- Ensure your customers are willing and able to serve themselves. That means you should ensure the target customers have the technical know-how of the sales process. If your customers know a little about your product, you can use an onboarding tool like UserGuiding to create more interactive product guides.
- Adopt a freemium and free trial for your products when using the self-service model to sell your SaaS product.
B2B Transactional Sales Model
This is the best model you can apply if you sell a more complex and highly-priced SaaS product in the market. When you apply this method, you will need a large sales team, which means raising your costs. As you increase the price of the product, your customer expectations of the product also increase.
Therefore, before customers pay for the product you are offering, they want to ensure you give them value for every coin they spend and that you have established a good relationship with them. The transactional sales model is characterized by:
- Rapid onboarding
- Customers signing contacts
- Short sales cycles
- Periodic updates of the product
- Clear product documentation
- Easy access to the customer care team in case of problems
The sales reps in this model are supported by automation and online content. They need incentives, additional tools, proper training, and metrics that will help to increase their efficiency.
To build a pipeline and improve efficiency, the marketing and sales team are fed qualified teams. The purchase process is made to look simple by ensuring automation and educational content for the customers.
In this sales model, customers have unrestricted access to educational content, self-service tools, and templates. They can also access customer care reps when they have issues with the product that they want to be solved.
When choosing a transactional sales model as a SaaS company, you should focus on providing a seamless buyer experience.
Related: B2B SaaS Business Model: Complete Guide
B2B Enterprise Sales Model
This is a more complex sales model compared to the other two models discussed above. In this model, the SaaS products are sold at low volume and high prices.
The sales team in this model consists of territory-based sales representatives focused on a segment of prospects. The model requires a more dedicated sales operation to identify, close, and support all customers.
In most cases, companies that adopt this method will often employ multiple sales teams supported by product marketing. The sales team may also require other resources to convert and retain customers.
The marketing team mainly focuses on building lasting relationships, trust, brand awareness, and educating customers. They employ more complex tools like ROI calculators and product roadmaps to target and acquire new customers.
For the enterprise sales model, the selling process for SaaS products is not that streamlined or linear. In the past when salespersons had to use a single person to close the deal but now they have to reach a consensus by involving a group of decision-makers.
What is The B2B SaaS Sales Process?
First, a SaaS sale is a prospect’s journey when discussions on sales start, through signing up, and finally becoming a customer. In simple terms, a SaaS sale is the process of selling your company’s web-based software to your customers.
For the case of B2B sales, you are selling your services to another company rather than private individuals. The sales process is everything you do in your business to convert any visitor to a buyer.
As a business, you should mostly focus on getting a new customer and retaining the existing customers to grow your customer base and sales revenue overtime. When you sell SaaS software, you need a sales process that commits to acquiring new customers and upselling the existing ones.
To achieve your goals as a SaaS company, you have to acquaint your sales team with the rights skills. They should be able to communicate the selling point of your product. That highlights the unique features of your products so that it scales well.
The sales team should be well conversant with the software you are selling and answer all questions that customers may have about the product you are offering.
Related: Best B2B SaaS KPIs & Metrics
The Stages In The SaaS Sales Process
Stage #1: Prospecting
Prospecting is the earliest stage when selling a SaaS product. Your marketing efforts involve a lot of lifting here. At this stage, you are likely to adopt social media marketing, online ads, and PPC if you want to get the most customers on your radar.
Stage #2: Qualifying
At this stage, if you want to save time, you should identify only the most promising leads from your web visitors and trial subscribers. You can start by using a lead scoring platform to collect information about your visitors and rank them on the probability of closing the deal.
Also, once a prospect signs up to your website, your marketing team can follow-up, and find out their level of interest in the product you are offering.
Related: B2B SaaS Content Marketing Strategy Guide
Stage #3: Presenting And Qualification
At this stage, you now get on your phone. You have already done the groundwork, and you know some basics about the customer. When you get on that sales call, you should assess whether the prospect is suitable for becoming a customer.
When you engage your prospects in a call, you should ask them open-ended questions. Focus more on the problems they are facing and gauge if your SaaS product can solve them. If the product you are offering cannot solve their pain points, you should not force it.
Don’t take a lot of time speaking to one prospect when you have a long list. You will have more people to speak to with a list and probably a high chance of converting them to customers.
Stage #4: Pitching
At this point, you should now be well conversant with some of the problems your prospects may be facing. This way, you will create a sales pitch that is tailored to solve their problems.
Use your creativity when creating a pitch. If you want to achieve this, you should avoid detailed scripts and ensure you are more engaging and informative at the same time. The sales pitch should not last longer than 30 seconds.
You have the shortest time to convince your prospects that you have done your research about them. That means you should only hit on a key point that concerns your prospect the most. Here are some tips to go about it easily:
- You can quote one of the companies your prospect is probably buying from – a good way to show that you know something about the customer.
- Make the prospect curious to learn more about your product. That means you should avoid over-explaining your product. Your prospect will follow up the pitch with a question if they are interested in the product and need to know more before buying.
- Do not list all your product’s key features on the sales pitch. Most prospects don’t have the time to read or listen to all that. What you need is to show your prospects how the product you are offering can solve their problems.
Related: Best B2B SaaS SEO Tools That Marketers Use Secretly
Stage #5: Handling Objection
Your prospect may be concerned about your products or service price and fit after the pitching. In this case, your sales rep should listen to what the customer needs.
If the prospect is more concerned about the product price, the salesperson should explain how the product’s value outweighs the price. If it’s about the product fitting their needs, the sales rep should explain more about the product or service to the prospect.
Stage #6: Closing
This sales stage should be the most exciting to the prospect. You have explained more about the product value and addressed all the objections. You’ve also convinced the prospect that the solution you are offering is a worthy investment.
Mention the product price and negotiate with the customer if you can. At this point, you can also offer some free added value to seal the deal.
Related: Native Advertising For B2B SaaS Businesses
Stage #7: Follow Up
After closing the sales, you should now send your prospects a follow-up email. Always leave a good impression on your prospects because they are probably receiving more pitches every day. Keep your follow-up email short and more professional.
If possible, you should provide all the information the prospects may need. If you have a recorded conversation between you and the prospect, you can attach it to the email.
Leaving your conversation on a positive note means it is easy for your prospect to contact you in the future when they want to sign up for your product or service.
Stage #8: Check-in
At this stage, the prospect has now become your client or customer. Once they subscribe to your SaaS product or service, you should not hesitate to check in with them and find out how they are doing.
If the customer enjoys the product, you can ask them for a case study or a referral. This way, you will get a new lead to start another sales process.
Related: Best B2B SaaS Content Marketing Tools
Final Thoughts
There is more involved in creating the right SaaS sales process. The eight steps highlighted in this article are the most crucial to consider as a business. Always have the right team when reaching out to your prospects.
With a reliable sales model and process, you will increase your customer base and make more SaaS sales with time.
