Running software as a service (SaaS) can be challenging. However, it's easy to get stuck when running a SaaS business, and bringing in new leads and revenue falls on the wayside.
So, how can you ensure that things go smoothly?
Here are some of the ways on how you can effectively improve your SaaS sales:
Your churn rate is the percentage of paying customers that cancel on you. So, the lower your churn rates are, the better.
The longer people subscribe to your business, the more valuable they become. When you reduce churn, you're also improving your customers’ lifetime value (LTV.)
Do not hesitate to give free trials
When you're offering a service, you need to provide your prospects with a better concept of how the software or tool will work for them.
However, claiming that your product is the best in the market isn't going to convince them to believe that.
To help them realize the worth of your products, why not offer them free trials? Ideally, you should only provide them with a free trial that lasts for 14 days.
Keep your trials short
You might think that giving your customers longer free trials will convince them to pay for your product. But extending your trial period longer than 14 days will hurt your chances of having a prospective customer committing to you.
Create a sense of urgency to users by giving them a shorter trial. Allow them to test as many features as they can.
Another benefit of a shorter trial period is that the product is still fresh in their minds. So if it's time to pay, they're most likely going to pay for it.
Set up a flexible pricing structure
You need to come up with a pricing structure that accommodates different budgets from varying types of customers and organizations.
When it comes to choosing which type of pricing structure to implement, place your customers' needs first.
For example, you can offer prospects the opportunity to sign up for a free plan, but at the same time, they could also choose various kinds of customized plans according to the features that they want to maximize.
Personalize your email campaigns
People's inboxes are filled with different emails every day. It's crucial to stand out and offer them value, especially if your prospects are doing a trial with you for the first time.
You can also try to make your communication with your customers a little bit personal.
Address them with their first names on your emails. It might seem like a small detail, but it can make a significant difference in connecting with your customers on a more personal level.
Use predictive analysis
Predictive analysis is when you utilize app usage metrics to search for signs or patterns that would tell you that a customer is one the verge of canceling.
It helps you identify the prospects that are at risk. That said, you can quickly identify the people that you should be reaching out so that you could figure out how you can keep them.
This is much better move that than looking for ways on how you can win them over after they've canceled.
Give great product demos
Don't provide long, boring product demos that would make prospects feel that they're in a training session.
Instead, you need to focus on how you could give them value, and then position your product as a solution for these problems. Show them how your products help them reach a specific goal.
Keep in mind that most features won't appeal to them. Well, at least, initially.
Boost your paid advertising strategy
It might not be the most exciting lead generation method out there, but pay-per-click advertising is the one to beat.
PPC ads are great for self-service SaaS companies, mostly because the cost of changing solutions is inexpensive.
You can target businesses who are seeking alternatives for their existing software, and then direct them to a landing page that compares their existing one to your own.
Build solid long-term relationships with customers
Your company needs to assure prospects that your business is in it for the long run. Once a customer decides to use your software, they're already seeing it as a long-term investment.
You also need to establish a high-level of rapport with your current customer base, making it easier to boost your revenue. Not to mention that you can convince them to leave testimonials or refer you to someone they know.
Project strong credibility
By the time customers land on your site, they already know that you're offering a solution for their problem. But the most crucial question here is how they would know if your company does deliver.
Here are some ways on how you can establish credibility with new visitors:
- Well-known trust seals. A lot of prospects are deterred from making online purchases because of issues in privacy and data security. You can help ease these fears by prominently displaying trust seals for the credibility of your business, technical security, and financial legitimacy.
- Testimonials from previous customers. Social proof is powerful. Show them what positive experience previous customers had while using your software.
- Case studies. This is even better than testimonials because it walks the customer on the various use cases, and how it can help specific team members of their company. It also gives them a unique insight into the value of your software.
- Customer service contact details. Users are more likely to buy from you if you're transparent with them.
Improving your SaaS sales can be challenging, but once you incorporate these strategies, you'll drastically increase your chances of success. These days, the SaaS market is starting to outsource the processes and procedures. If you're eager to work with a SaaS marketing agency, make sure that they are a suitable partner to manage your SaaS marketing.
So, what are you waiting for? It's time to get out there and crush it!