The majority of SaaS companies are making a big mistake that is lowering their revenue. I use to make it too... This mistake exists because SaaS is changing. People are more comfortable with bringing software into their business which means that they’re finding and buying SaaS differently than before. That’s all SaaS is, it’s just software as a service. It’s any software that helps a business make more money that they pay for monthly or annually. This is where SaaS
How do you find more of the right customers? People that will eagerly buy what you’re selling, with zero complaints…? AND tell their friends about it. What a dream! But rather than picking 4 leaf clovers, crossing your fingers and hoping the universe delivers these ideal clients to your doorstep... Don’t you want a system to filter out the customers that’ll buy from the ones that won’t?
There’s some technology out there that I’ll bet you aren’t even using in your business, and it’s a huge conversion booster! When I tried implementing this tech, you know what happened? It reduced my sales demo no-shows by 30%... meaning my sales velocity almost doubled! I also used it to warm up calls before the demos. So what is this mysterious wonder-tech? Here’s the surprise… you use it every day and it’s been around for years:
Pre-selling your software before you’ve even built it is a very attractive idea. Think about it: You get people to buy a concept, take that money and use it to build the software, and then you launch it to everyone else. ...All with no money out-of-pocket.
When I was building my company, Flowtown, I remember one of our potential investors talking about Expansion Revenue. I thought “Uhh… okay. What the heck is that?” You don’t wanna learn about this stuff FROM potential investors. Staring at them wide-eyed when they outsmart you doesn’t exactly scream ‘good investment’. But now I know how to use upselling to increase customer retention and leverage Expansion Revenue. It makes a real difference. I’ve used it in my own businesses and now
In my career, I’ve hired dozens of salespeople… and I made some big mistakes when I did. Expensive mistakes. In my 20s I hired a guy and paid him $80k salary and all he did was talk about how he was going to close big deals… without ever doing it! For a whole year, this guy promised me the world and delivered absolutely zero value. And I actually paid him for it! Compare that to now: Last week I hired
If you’re in sales, you never want to come off like this: “Listen here, pal… This is the product you need and it will definitely solve all your problems! 100%! If you don't buy this today, you and your company will regret it for the rest of your life!” I call this having “Commission Breath”. Everytime I hire a sales person, at some point this happens.
I recently spoke at Traffic & Conversion in San Diego when the topic of product demos came up. And what I realized was quite simple but profound: Everyone has a demo problem. I mean… ev-ery-one. And I’m willing to bet that if you were to look at your own business right now, you’re either lacking enough demos to really make a dent in your growth…
I was 24 when I closed my first enterprise level SaaS deal. I had recently started Spheric Technologies and decided to go straight to the heavy hitters. We’re talking Fortune 500 companies like Johnson & Johnson, American Express and Procter & Gamble. (guess the JFDI ethos was alive and well) ;-) And while I had an amazing team of coaches and mentors around me (and an endless supply of Grade A boldness) to carry me through those early deals, they
Some of you are gonna hate me for even saying this. Might even have some intense fist-shaking action. But it’s gotta be said. There is such a thing as having too many leads.