SaaS Mistakes You Need to Avoid

You’re a happy salesman/woman, working at a top SaaS company. You’ve recently closed another deal. Names are signed on the dotted line, and the client is content with your service (that’s what you’ve been telling yourself).

Time flies.

Look at that: it’s time for renewal.

Except they’re not renewing with your service; they’re actually going with your competitor.

Who’d have thunk it?

You.

At least you should have thunk it! Let’s take a look at what’s happened here: 

Fact #1: The client was unhappy with your service for the entire subscription duration. Somehow you missed this.

Fact #2: This is only possible if the client has been utterly neglected during their subscription; meaning you likely have no idea who the executive sponsor or key users are.

Fact #3: You aren’t segmenting your customers. And that’s a no-no.

Since we’ve decided that what we have here is a complete sh** storm – what’s the solution? Better yet, how do we avoid these horror stories, and blunders in general when selling SaaS?

Don’t Become a SaaS Horror Story - 3 tips

Be Realistic

If you’re just starting out in SaaS, you must acknowledge early on that the grind will be extensive. Finding the right company for you will be a process. One company will have unachievable quotas, another, bad market fit, and another, high pressure. Some companies will have a mix of all three. Accept early on that you’ll have to weather the storm before you find your ‘home’.

Segment Your Customers

The idea is to spend 80% of your time on 20% of your customers. For the remaining customers, rely on playbooks and nurture campaigns. Renewal playbooks are the real game-changers here.

A ‘nice to have’ product won’t cut it

A quick look at the climate in sales, and you can tell that the competition is tough. That said, selling clients a ‘nice to have’ product won’t cut it (at least not if you’re trying to kill it in SaaS).

The tricky part is that you can’t choose what kind of product you sell. So how do you control whether your product is a ‘nice to have’ as opposed to a ‘need to have’? Reframe your product and sell it as a ‘need to have’. 

There are a few ways to do this: start by learning the ins and outs of your product, the pain points of customers, and how to lead with VALUE as opposed to price.

Your hard work will pay off.

Literally.

Sales Q&A

Anyone here work in SaaS? What are your pro tips?

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