Create A Winning Software Sales Strategy

What Is A SaaS Sales Strategy?

Back in the day, we used to load CD-ROMs on our computers to access software. Nowadays, software as a service (SaaS) allows data to be hosted and secured online, on the cloud. B2B SaaS marketing is more prevalent than ever, and companies are looking to expand by advertising their products online. But everyone is online. How can you differentiate yourself and get ahead of your competitors? The first step to curating a powerful software sales strategy is creating a strategic marketing plan that includes various tactics that boost SaaS sales. A strategy refers to the marketing master plan that aims to achieve your overall goals and objectives. It encompasses generalities like who you’re targeting, what promotion style you’ll follow, and which KPIs you’ll track. For instance, you may choose an all-digital approach and ditch traditional marketing techniques like newspaper ads.

Building and maintaining a high-performing and revenue-generating enterprise software sales strategy can feel intimidating. We have gathered many crucial tips for you below. However, if you still doubt that you can do it all by yourself, you can collaborate with eLearning Industry and take advantage of our experts’ content marketing knowledge.

Software Sales Strategy Vs. Tactics

Even seasoned SaaS marketers sometimes refer to software sales strategies and tactics interchangeably. However, the two should not be confused. A SaaS sales strategy is the overall plan that includes various tactics. Strategies define the actions SaaS startups take to achieve specific goals that align with overall company objectives. Tactics are more specific actions and marketing techniques B2B SaaS sales teams use to achieve higher goals. As an example, if a company has decided that content marketing is its marketing strategy, creating content like webinars, blog posts, and whitepapers are a few of the tactics they’ll utilize.

Stages Of The Sales Funnel

All agencies offering content marketing services know that the marketing funnel has four stages: awareness, consideration, conversion, and loyalty. Awareness is where you make your brand visible and clients get to know you. Consideration is when they realize they have an issue and consider your SaaS product as a possible solution. At the conversion stage, you try to win over your competition and prove to clients you are the best option. At the bottom of the funnel, you make an effort to maintain a close relationship with buyers so they remain loyal to your brand.

However, the SaaS sales cycle has different stages. First, you find leads and then connect with them online and qualify them, meaning you check whether they are a good fit or not. You proceed to present to them the value of your SaaS product and overcome any objections they may have. There can be questions about your pricing or concerns about your integration abilities. Once you’ve climbed this mountain, you can close the deal and nurture a friendly and trusting relationship.

5 Marketing Techniques To Build A Powerful SaaS Marketing Plan

1. Target Large Companies

Selling software as a service is a time-consuming process that involves much discussion and content creation. An effective marketing leader should not be afraid to target enterprises along with smaller companies. Large businesses that keep evolving and expanding their teams can give you the opportunity to scale your services. They have complex needs and require extra features and enhanced customer service. If you can deliver at such a high level, you can expect a steady stream of income and long-lasting collaborations that provide you with credibility and brand awareness.

2. Pinpoint What Makes You Unique

A software sales strategy should be able to differentiate a company’s product features and capabilities from those of its competitors. What makes your solution unique? Is it its top-notch features, its low price, or its scalability? Utilize B2B content marketing to promote your unique messaging and showcase how your product helps customers attack their pain points. Your focal points should be highlighting your software’s problem-solving abilities and user experience. Try not to include too much technical jargon that will only confuse potential buyers. You can explain all the technicalities when they make a purchase and their IT professionals require extra information.

3. Utilize Social Media

Where exactly is your target audience active online? Chances are that SaaS buyers are not present on TikTok. LinkedIn is the number one social media platform for professionals in the SaaS industry looking to educate themselves and find compelling technological solutions. This is where you can publish your content marketing ideas to generate buzz and increase website visitors. If you want to sell software internationally, you must provide case studies, customer testimonials, blog posts, and other content of high value. Additionally, you can go on Quora and Reddit and start answering industry-related questions to build a community and form bonds.

4. Invest In Content Marketing

Content marketing for B2B is an effective software sales strategy that generates brand awareness and creates trust within your target audience. The content you create and promote should not sound too salesy and make customers think that you only care about making money. It should first and foremost offer value to their lives and show them how your SaaS product can solve their troubles. You may start by crafting a story where your clients are at the center. Then, you can explain how your solution steps in to save the day. Utilizing real-life cases and examples can prove effective.

5. Develop Partnerships

If you’re wondering how to resell software, apart from promoting your own creation, forming partnerships is your solution. Pick partners that have similar target audiences and needs as you so you can gain qualified leads that are ready to rush to the bottom of your funnel. Partnering with credible businesses brings clients who already think positively of your product and brand. You can work with your partner to co-market your software, build affiliate programs to promote each other’s products, and resell your services.

6 Software Sales Strategies That Boost SaaS Sales

1. Create A Small App Portfolio

Many SaaS providers, instead of focusing on offering what the market needs, try to create something truly unique. However, you should start by designing small, very targeted apps that your existing clients already need. They can be cybersecurity or employee engagement tools. Once you increase your client base and they seem happy with your services, you can expand your portfolio with more specialized apps that come at higher prices. But what is one genius way to promote your tools and sell software to a company? You can start listing it in relevant directories. You can pick eLearning Industry to include your product in one of our top-performing lists.

2. Develop Your USP

Selling software in a congested market is hard. Crafting your unique value proposition helps differentiate you from the competition and shows clients how your product can satisfy their needs. Your B2B SaaS sales strategy should tackle the common struggles many companies face and highlight how you can fix them. You should answer three questions: What problem does your product solve? Why is it your audience’s best solution? How can you impress your potential clients with your benefits? To answer these questions, first identify recurring issues professionals in your niche face.

3. Utilize Pull Marketing

There are two marketing methods you can include in your software sales strategy: push and pull. Push marketing refers to typical online advertising, where you create various ads linked to your website or landing page. But many marketers have shifted toward pull marketing. There, you utilize valuable content to lure new clients and establish authority in the field. You can use blog posts, webinars, case studies, testimonials, and eBooks as gated content to generate more leads and increase newsletter subscribers. This marketing tactic is more cost-effective and ideal for the initial buyer stage.

4. Be Customer-Centric

Small business content marketing depends on understanding who each client is, what their pain points are, and what goals they have. To increase software sales, you need to listen first. Also, you should communicate the projected ROI and total cost of ownership (TCO) savings that your B2B SaaS product may bring. Keep in mind that most customers have objections before making a purchase. Prepare yourself to tackle all possible protests and assure buyers that they don’t have to worry about anything, as you’ll be right by their side.

5. Study The Future

The future of digital marketing is expanding very quickly, and only the strongest players will prevail. How can you guarantee your B2B software sales can remain untouched and, even better, increase? First, you must be up to date with new technologies and utilize those that improve your efficiency to enter new markets. Additionally, you can create various SaaS solutions and promote them through your own and third-party marketplaces. Invest in your technology experts’ training so they gain new skills and keep breaking new ground.

6. Make Onboarding Your Priority

So, what happens after the tough software sales process is finished? Is your job done? Certainly not. Potential buyers don’t simply look for effective products but also for impeccable onboarding experiences. Your product consists of many technical aspects that decision-makers aren’t necessarily familiar with. You need to collaborate with the client’s IT professionals to guide them through the activation, configuration, and migration processes. Your employees should offer top-quality customer service whenever necessary, as well as take advantage of every upselling or cross-selling opportunity they encounter.

8 Successful Tactics That Propel Software Sales

1. Free Trials Or Freemiums

One of the most valuable software sales tips is to offer potential buyers the opportunity to experience your services before buying. Free trials typically range from 7 to 30 days, depending on the complexity of the products, while 14 days have been found to be ideal, as this amount of time shortens the sales cycle. However, during this period, you should not leave your clients alone. Offer them as much guidance and assistance as they require to get familiar with your product. Freemiums are also a wonderful idea, as they provide a limited edition of your software. Clients can understand the core value of your product and see what they’re missing. As a result, they may decide to upgrade to a paid subscription.

2. Referral Programs

How can you improve your SaaS marketing results without investing a large budget for marketing purposes? Building a referral program for your software sales strategy means that you allow your satisfied customers to do the promotion for you through word of mouth. You may offer prizes, discounts, free trials, and other incentives to motivate clients to join your program. Such an initiative builds loyalty among your customers, who become more engaged with your product. Not only that, but referral programs decrease churn, as buyers are likely to spend more money than those generated by traditional ad marketing.

3. Follow-Ups

The software sales process is usually very long, meaning you need to stay in touch with prospects and guide them through the different stages. You can start by sending surveys to get their honest opinions about your brand and propositions. When someone starts their free trial, you should communicate regularly with them to receive real-time feedback, solve possible problems, keep them engaged, and understand how close they are to purchasing. You must prove that you are a trusted and loyal partner who will support them. Moreover, based on the feedback you receive, try to make quick changes to show how much you value people’s opinions.

4. Demonstrations And Videos

An engaging marketing strategy for software products should utilize the magic of video. Demonstrations are among the most common visual presentations SaaS companies create to highlight their products’ capabilities and features. You can include your demos on your website, social media pages, and YouTube channel. Show buyers how they can use it and what results they can expect. But don’t focus too much on features. You may use a customer’s story to narrate and show how anyone can use your software. Furthermore, you can invest in webinar marketing and create a demo in the form of a live webinar. Participants can see your product live and ask relevant questions.

5. SEO

No software sales strategy can be effective if it lacks SEO initiatives. Hiring a content marketing agency, like eLearning Industry, allows you to insert powerful keywords and phrases in your content so your website and landing pages rank highly in SERPs. In fact, it is the most cost-effective marketing method to promote your business. While it may take time to see the benefits and requires enhanced SEO skills, it is definitely one of the most scalable solutions. On-page, off-page, and technical SEO are all necessary ingredients for a successful website. If all this information sounds like a lot to handle, you can take a peek at our inbound marketing services to see how we help businesses increase their visibility.

6. Upsell And Cross-Sell

SaaS sales are not a one-time deal but offer you the opportunity to create multiple tiers with extra features and add-ons. As clients scale their businesses, you can upsell them with additional capabilities that fit their needs. For instance, if you promote your workforce management software, you can cross-sell high-tiered clients with your time-tracking tool, which is not included in their initial subscription. Clients who understand the value of your product will purchase more of your software, as they respect you as a partner. Still, don’t push your tools in their faces just to make an extra buck but make sure your offerings align with their needs.

7. Email Marketing

Email marketing is one of the most rewarding software sales strategies, as for every $1 you spend, you can make $42 back. Plus, you can utilize emails during all stages of the buyer journey. You can build brand awareness, establish industry leadership, and nurture successful business relationships. Gathering email addresses allows you to fulfill your customer profiling duties. You segment your audience members based on similar characteristics and behaviors and craft buyer personas. This way, you can create targeted and personalized messages that tackle each company’s unique needs and challenges. eLearning Industry can curate effective email marketing campaigns that make you visible to potential buyers.

8. Annual Pricing

So, how can you increase annual software sales? SaaS companies usually offer monthly and annual pricing models. Annual packages are proven to reduce churn, as clients are devoted to you for longer and you have the time to establish a close bond. As a result, you increase the average customer lifetime value (CLV). Not to mention, your upselling and cross-selling efforts can prove more successful with loyal, long-term clients. Let’s not forget that annual subscriptions help you predict your revenue and decide on new investments and growth initiatives. So, how can you sweeten the pot for customers and prove to them that they should invest in your software long-term? Try adding irresistible discounts that make it obvious how much less they’re paying with annual rather than monthly subscriptions.

Powerful Tools That Support Your SaaS Sales Strategy

• Customer Relationship Management software: A CRM tool is a centralized location for all your customer-related information. How many leads do you have, and how has each interacted with your team? This knowledge is pivotal in following up with potential clients and nurturing loyal relationships.
• Sales enablement software: Product marketing sales enablement helps your team converse with potential buyers and close as many deals as possible. Relevant tools allow you to craft engaging and aesthetically pleasing proposals that intrigue clients. Most tools offer various templates, features, and customization options to craft the best proposals.
• Video conferencing software: Improving and polishing the SaaS experience requires excellent video conferencing software that allows users to communicate while offering great image and sound quality. Zoom, Google Meet, and Microsoft Teams are three of the most popular platforms. However, if those don’t meet your requirements, you may check our directory for more amazing tools.
• Appointment scheduling software: Do you have way too much back-and-forth with clients trying to book meetings that work for both of you? Appointment scheduling tools help your customers check your availability and book their meetings without having to talk to you first, as they can be integrated into your schedule.
• Performance measurement tools: All software sales strategies set their own KPIs and metrics to check the performance of their campaigns. Performance measurement tools help you gather all the important data and analytics into one centralized location and analyze them to make improvements.

3 Common Challenges And How To Overcome Them

1. Standing Out

The main challenge of any software sales strategy is standing out from the competition and winning over clients. Getting more people to buy your product depends on differentiating your solution and making it obvious why you are a supreme brand. To do that, you must conduct detailed research about your competitors and their SaaS products’ features. Then, you can pinpoint your advantages and disadvantages, trying to improve them. Your integration capabilities are also crucial to beating the competition, as you must understand which technologies clients use and how to work with them.

2. Retention

During the consideration stage, clients analyze various vendors. They read and watch educational content, check websites, and engage in many conversations to find their best fit. Maintaining their attention and interest during this stage is pivotal for SaaS sales. This is why you should team up with experts with excellent digital marketing skills to curate triumphant campaigns that highlight your brand’s strengths. They can carve out a compelling software sales strategy that improves retention and proves to clients that they have the right tools to help them during onboarding.

3. Messaging

If you’re still wondering how to get more customers, crafting the right messaging is still the most crucial part of your software sales strategy. Many sales representatives overload customers with information and focus too much on their SaaS product’s features. Yet, this is not what clients want to hear. They want to understand how your solution can help them and why it’s better than similar products. So, you must focus only on what is essential and find a balance between technical and business conversations.

The Most Crucial Metrics To Keep Track Of

• Monthly recurring revenue (MRR) and annual recurring revenue (ARR): Do you know how much money your B2B SaaS sales bring in every month or year? A SaaS sales strategy should calculate these amounts based on existing customers’ subscriptions. MRR figures out the revenue associated with monthly plans, while ARR calculates income from annual subscriptions.
• Customer acquisition cost (CAC): If you divide the total cost of your sales and marketing expenses by the number of buyers, you’ll get your CAC. If the number is too high, you may be expanding your business way too quickly. If, on the other hand, it is too low, you should look at areas where you can invest more resources to elevate your business.
• Customer lifetime value (LTV): This metric analyzes how much money one customer will bring over the course of your transactional relationship. Your LTV should outweigh your CAC if you want to remain successful. First, multiply the money and frequency rate of a customer. Then, multiply this result by the average customer lifespan.
• Churn rates: Online software sales are usually plagued by high churn. Demand-generation campaigns may bring in clients, but it’s up to you to retain them. To check how many buyers you lose, divide those by the total number of customers. Multiply by 100 to get the final percentage.
• Net promoter score: This metric keeps track of the overall happiness levels of your client base and helps you predict how much your brand will grow. You can get this metric by sending surveys to buyers and asking them to rate you and your operations on a scale of 1 to 10. To calculate it, subtract your detractors from your promoters.
• Sales qualified leads: Qualified leads are not necessarily people or businesses who are ready to make a purchase, but they simply take certain actions related to your brand. Maybe they clicked on an ad or signed up for your newsletter. Keep track of them so you know whether they are worth approaching.
• Lead velocity rate: Selling software as a service requires you to measure your lead growth rate. MRR may be great, but it only shows how you’re doing at the moment. The lead velocity rate shows you how quickly you bring in potential clients and convert them into buyers.

Key Takeaway

To build a successful software sales strategy, you must follow a marketing plan template and add all the steps mentioned earlier. Start with your overall goals and then include techniques, tactics, tools, and metrics. Content marketing and social media visibility are the strategies most SaaS companies prefer to generate leads and push them toward the conversion stage of the sales funnel. SEO, free trials, case studies, webinars, and email marketing are crucial in proving that your product and brand can solve the audience’s pain points.

eLearning Industry can help you craft engaging webinars and write captivating blog posts and eBooks that establish thought leadership and expertise in your field. Our content marketing experts can also help you utilize the positive reviews your satisfied clients have left on popular platforms. We can shine a light on them and build the social proof you need.