4 Tips to Increase B2B SaaS Sales
B2B SaaS companies increasingly rely on inside sales teams to drive growth. The model is often referred to as “Low Touch Sales” and follows this formula:
- Use Inbound marketing to drive Internet traffic to the site and create new leads
- Use an inside sales team to support leads through their evaluation process and convert them to paying customers.
Inside sales representatives (ISR) and sales management teams juggle with large volumes of leads of various qualities. Leads follow a self-paced evaluation model and the role of the inside sales team is to increase the number of those that eventually “convert” to paying customers once their trial concludes.
Here are 4 tips for inside sales teams to improve their effectiveness, increase conversion rates and deal sizes. Creating happier customers and a happier sales organization!
1. Prioritize correctly by eliminating noise
Within many SaaS companies the lead volume is very high and there are only so many phone calls one can make. The trick is to focus on the most promising prospects, the potential customers who came in with a real intention to evaluate the service and buy.
In order to focus on the right opportunities, sales teams should have ‘intention indication’ which is usually reflected by the amount of time and investment prospects put in the evaluation process. In short, make sure your CRM contains data that reflects the actual (as opposed to potential) engagement level of a lead, and prioritize your work accordingly.
2. Increase Contact Rate
Every sales person knows that being in contact with a prospect increases the chances of a bigger, better deal. However, in many cases, due to volume and geography it takes a while before you can actually contact a prospect.
To increase your chances of making contact, follow up while the prospect is within context, meaning, when the prospect is actually using the web application. By implementing a ‘who’s currently online’ monitor and contacting leads that are actively evaluating, your contact rates are sure to go up.
3. Make smart and personal sales call
When making contact, be sure to use all the information you have on the prospect in order to be personal and address the actual needs of a potential client. Prospects who interact with your business over the web expect a conversation with a sales rep to be effective and rather not repeat their entire history which was already reflected in forms that they have filled out and actions they performed on your application.
Make sure to prepare for each sales call by reviewing the following on the lead:
- Demographics information: This includes the size and industry of the organization, the evaluator’s role within the organization and so forth.
- Usage information: What has a prospect done so far during their Trial? Have they been able to get up and running? Are they using the software regularly during trial? Did they invite necessary stakeholders to join the evaluation (where appropriate)?
Make sure your sales-tools provide visibility into these two issues so you can form an intelligent view on their status and be more useful to the lead as you interact.
4. Timely follow up
Potential customers need time to absorb the information available on your web site and properly evaluate to understand the true value of your service. In many cases, they will evaluate multiple alternatives simultaneously. Make sure to follow up on time. On the one hand you don’t want to annoy the prospect (that adds zero value), but on the other hand you wouldn’t want to drop the ball and let them fall in the hands of your competition.
Sales teams should map various milestones of the evaluation process, and have clear benchmarks and definitions for prospects who are on track and those who are not.
For example, for an online help-desk service, we would expect to have more than one agent by the 5th day of the evaluation. If this is the case, a prospect is on track and only needs encouragement, if this is not the case, a prospect might need a different type of engagement in order to open the road blocker.
Managing these milestones for multiple ongoing accounts is not easy, but it’s essential to fulfill your role as a facilitator of the evaluation.
Successful SaaS sales teams that follow a proven methodology and take advantage of automated high-quality information will increase their chances to sell more and faster. They will improve the predictability and consistency of results – this is critical for scaling the organization.
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