13 Best Ways to Increase Sales for Your SaaS Business in 2022
Increasing sales for your SaaS business doesn't have to be a hassle. That is why having a carefully thought out sales strategy is essential to having a successful business. Reading through this post, you will find 15 key ways to increase sales for your SaaS business in 2022.
A significant increase in demand for SaaS (software as a service) has been made. As a result, the SaaS space grows from a little to a thriving industry.
Despite this, many SaaS companies spend millions on sales and marketing but are still left in the dark, wondering which way to go because they achieve little or no increase in sales.
Growing a SaaS company is no child's play. That is why having a carefully thought out sales strategy is essential to having a successful business. Reading through this post, you will find 15 key ways to increase sales for your SaaS business in 2022.
1. Identify Qualified Prospects
If you have excellent face-to-face sales skills but can not identify qualified prospects, it would be difficult for you to get the right customers.
The problem with prospecting is that it is often linked to activity. Sales representatives are urged to make more calls, knock on more doors and send out more emails. However, the result of this is primarily a minor increase in sales. There are better strategic ways to get more prospects which include:
Referrals from existing clients.
Networking with sales representatives in similar industries.
Web-based marketing, e.g., blogging and newsletters.
Doing these would help you easily create a rich funnel pack with qualified prospects.
2. Give Short and Value-Focused Demos
Customers want to be 100% sure of every purchase in most cases. Therefore, in software sales, your demo for a qualified lead is going to be more critical than ever.
A demo shows the efficiency and value of your product to prospects. Some key indicators of a good software demo are feature promotions, a well-paced narration that is clear and concise, and a call to action on the following line of steps with the product.
Though video demos are a great way to get a lot of information across to potential customers, not everyone has the whole day to spend on your page. That is why it is ideal for keeping your demo between 15-20 minutes.
3. Optimize your Email Campaigns
According to Statista, over 333 billion emails are expected to be received and sent daily in 2022. That means email marketing isn't going anywhere soon, and the only way to gain optimal value from it is to optimize your email campaigns.
You can optimize your emails by writing relevant and high converting copy with the correct email marketing tools. Use great subject lines and make your email easy to scan, as explained in a case study by Solitaire Bliss. Ensure that your tone is personalized while setting the right triggers with your customer's behavior.
4. Show Customer Pain Points
Like everyday problems are varied and diverse, customers often experience recurring issues that allow you to pitch a solution. The best way to close the gap is to uncover your customer's typical troubles by positioning yourself in two ways:
See yourself as someone facing either a small or big frustration from your customer's standpoint. Identify these frustrations, then flip back your position.
Begin with a conversation and clearly show them these outlined pains.
Now that you have identified your customer's pain points, they will be thrilled. But, again, this would create a sense of necessity and willingness to accept your solutions.
5. Keep your Trials Short
Having a lower trial duration creates urgency for customers and often gets them to think about your product. Whereas giving potential customers an extended trial period would make them forget or procrastinate on using the software, which will hurt your business in the long run.
Customers are more likely to take the trial period seriously when it is shorter. That's why they can only use the software for a limited time, increasing their chances of signing up to continue using the product since they have enjoyed the service.
6. Reward your Existing Customers
Instead of dumping money into campaigns that focus on paying prospective customers, you can drive a dramatic increase in your existing customer's performance.
One fundamental way to increase your customer lifetime value is to offer a reward. Reward often stimulates loyalty with your existing customers, and there is no other customer retention strategy in the SaaS business that beats rewards.
Allow your customers to experience the unexpected, which can be in the form of freebies, discounts, or promo codes. In addition, you can reduce the churn rate. Also, maximize every opportunity to ensure the values you are offering as a reward is from your product.
7. Upsell and Cross-Sell your Existing Customers
According to Sumo, revenue is increased up to 30% on average by upselling. Therefore, upselling and cross-selling to your existing clients are vital to making more money as a SaaS business.
Clients who have already purchased from you or are in a purchasing mood and see value in what you do are excellent prospects for upselling and cross-selling. If done correctly, this can:
First, enhance average order and customer value over time.
Increase the number of repeat buyers.
Increase customer retention
Most importantly, increase sales.
When you provide value to customers, there is every possibility that they will buy your other products once you make them known to them.
8. Show Customer Success Stories
One proof that validates that your SaaS works are customer success stories. It is the best way to display your company's value. That will boost your credibility, attract prospective customers, and establish your product in the marketplace.
With the high increase in SaaS, some are deemed illegal. Your customer's success story threshold makes you outstanding. It also helps you resonate with the genuine perception of your product, service, recognition, customers, and brand awareness.
Do not forget to include ratings and review sessions and aggregate your customer's social contact details to build a social sharing ecosystem. That will allow them to participate in the use cases. The idea is to reassure and resell - a win-win for consumers overall.
9. Interact on Social Media
Social media is a great way to reach new audiences and keep existing customers engaged. With over 3.5 billion social media users worldwide, using social media for SaaS can be a powerful way to grow your business.
Social media sites such as Facebook, LinkedIn, Twitter, and the rest connect people, create communities, and provide free exposure to many SaaS businesses worldwide. Interacting on these social media platforms helps generate organic traffic to your site, and in the end, you find it easier to convert the traffic to sales.
10. Produce Video Marketing Content
Creating video content includes many benefits. That's why it attracts a lot for B2C and B2B companies. With so many video types, you can reach a much wider audience, humanize your brand, and generate sales. Moreover, 87% of businesses use video as an essential part of their marketing strategy, and 83% consider video gives them a good ROI.
Depending on what you are selling and who you are selling to, you can produce different videos, from product demos and product videos to "how to" and upselling videos. Make sure to check out which type works best for your business.
To create animated videos, Rocketwheel is an excellent solution for SaaS businesses. Whether it's 2D animation, motion graphics, corporate, or learning, it serves as a great asset for your product pages.
11. Invest in PPC Marketing
The PPC model of digital marketing allows you to advertise and only pay a fee when people click on your ads. Investing in it is one of the best ways to outsmart others.
It helps you generate exceptional tracking metrics, and the best part is that you can get user-specific about whom you're putting your SaaS product beforehand. This process increases your SaaS revenue and sales growth.
Most platforms find it hard to maximize the result of PPC marketing because they do it the wrong way. Of course, you will have a better shot with first-time buyers when you kick-start with the right keyword and interact through their search interests or browsing history.
However, customer retention becomes more manageable when your marketing ads get to a repeated buyer, meaning you will not have to work as hard to secure that prospective customer.
12. Offer Annual Plans
Offering annual plans makes it easier for you to keep customers for an extended period (minimum of a year), which could help you build loyalty.
The annual prepaid model increases revenue compared to monthly plans, making cash flow more relaxed. In addition, you can be sure of at least a year's payment for each customer who signs up for the yearly plan.
Doing this also helps you attract high-quality customers with higher purchasing power while reducing churn to a large extent. That enables you to grow faster.
13. Measure your Results
Analyzing and measuring channels that bring traffic and sales is vital for identifying where you fall short and need to do to get better.
Using tools like WebCEO can quickly help you generate new leads, manage and monitor your results, and create branded reports for your clients. It also provides in-depth competitor research and live keyword ranking data. As a result, you can easily organize your teamwork and reach your sales goals.
Increasing sales for your SaaS business doesn't have to be a hassle. Once you follow these tips efficiently, you immediately enjoy the benefits lately.