Best Sales Methods For Long-Term Growth Of a SaaS Company
SaaS sales methods can help with long-term growth when chosen right. There are different sales methods, but each has specific features to meet certain categories.
Therefore, as a SaaS sales professional, you can find the best fit depending on your targets. Instead of considering one method, you may opt to implement a few, depending on the outcomes.
Here, we will cover what a sales methodology is and the best sales methods for a SaaS company.
What Is a Sales Methodology?
A sales methodology is a set of principles that guides the sales process. It decides how you and your sales team will approach prospects, what strategy you will use, and how you will manage the sales process.
Challenges When Selling (B2B) SaaS Solutions
Selling SaaS is a bit different from just selling software products. In addition to getting consumers to buy your solution, you also need to ensure that they use it. You'll need to adjust to the following main variations for SaaS solutions.
- With low-ticket SaaS solutions, a self-service model allows customers to enter your business without engaging with sales staff.
- Since the sales team is selling software, a product demo will nearly always be part of the sales model.
- SaaS teams can use free software trials to demonstrate the solutions worth to potential customers.
- In B2B SaaS Sales, the sales cycle is longer and the buying committee is extended.
Best Sales Methods For a SaaS Company
There are more than dozens of models in sales. Sales experts have developed many models to help companies make more from their ventures. However, we will cover the top and proven models for SaaS companies below.
1. Customer-Centric Selling Method
As the name implies, this model revolves around customers. It keeps customers in the center and develops strategies to inspire them. The customer-centric method is worth trying for SaaS since the sales team can focus on highly qualified customers and develop long-term relationships.
The customer-centric method will elevate customers and empathize with their unique requirements in each stage. As a sales team, you adapt to specific circumstances with a two-way approach. You address your prospect’s concerns to achieve more from your efforts.
As a sales team, you resonate with the goals and challenges of your customers. As a result, you are able to build a sustainable relationship. While following this method, you can evolve consistently to integrate with your client’s demands. You will have to focus on key metrics to achieve long-term success.’
The customer-centric selling method brings better-qualified leads and creates possibilities for fulfilled interactions. Besides, it gives an inspiring competitive advantage and builds a long-lasting relationship. More importantly, this method will create sustainable buyers.
2. SPIN Selling Method
The SPIN selling method revolves around four things: situation, problem, implication, and need-payoff. In this methodology, the sales team organizes sales calls and uses these four things to know the situation and find solutions. This method is especially interesting when selling enterprise solutions.
Using questions from the situation, problem, implication, and need-payoff categories, SPIN selling reps structure sales calls. By focusing on the difficulties of the buyer, this strategy enables salespeople to build the consultative client relationships that complex negotiations demand.
Businesses that sell products with lengthy sales cycles, numerous stakeholders, and challenging implementation are especially dependent on this result.
In this situation, buyers may frequently be unaware that they have a problem or, if they are, they may believe that the problem cannot be resolved. By asking the right questions, vendors may identify needs, provide value, and motivate customers to make a purchase.
SPIN selling will help the team understand the pain points of their prospects and spotlight them. The sales team can understand the buying intention and develop strategies accordingly. In addition, it will build trust and contribute to increased revenue.
3. Challenger Selling Method
The SaaS industry is about cutting-edge technology. The unique nature of the SaaS opens possibilities for different sales methodologies. The Challenger sales method can be a good fit for new solutions because it will help your prospects to think out of the box and explore new opportunities.
The challenger sales method will focus on providing your new and challenging solution to the customers by challenging their ideas and thoughts. It inspires your targets to try something new. This model pushes the boundaries and the objective is to embrace other possibilities and get a fresh view.
The challenger sales method can be perfect for startups. Also, as a challenger sales professional, you must listen to the demands, analyze them, and find a solution for a better experience and long-term business relationship.
The benefit of this sales method is the respect that the team receives by giving impartial information to prospects and providing a new and different solution. This model opens ways for solving old problems and creating possibilities for new ones.
4. Consultative Selling Method
The consultative selling method will help to develop a strong relationship with prospects and even current clients. In this method, the team will work on the prospects’ problems to find and offer a solution. The sales team can guide the prospects and win their trust.
Consultative selling is unique since the team has the attitude of a consultant and needs to be selfless to find the right solution for prospects. The goal is to develop trust and find the best fit for prospects.
While following this method, the team will guide prospects as reliable friends through complex situations to find the best fit. It will require a deep understanding of the subject and industry to help prospects find the best solution.
5. Value Selling Method
The value selling method focuses on the measurable value your prospects get from your solutions. In this method, the team will convert data from customers into value and benefits for prospects to influence buying decisions. The value-selling method emphasizes the measurable value that customers will get when using the product or solution. You can focus on value-based selling and use this method to measure the value of your products.
All these methods contain different approaches to the sales process and address the concerns of prospects in different ways. Which method works best for your sales team, is a matter of trial and error.
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