Convincing someone to spend their valuable money is a tough job, especially when you are operating on a recurring revenue model.
Making a buying decision is tough in SaaS sales. Businesses have to think about their budget as it isn’t just a one time purchase but a long-term commitment.
As SaaS sales rep, you need to gain trust and persuade potential prospects to convert them into paying customers
It’s essential to take every step carefully. It is undoubtedly difficult but you need to stay determined and find ways to close deals quickly.
Action is the foundation key to all success – Pablo Picasso
How to successfully close SaaS sales deals
Some deals aren’t given the attention they need, and some aren’t approached in the right way, which is why most of them slip through the crack. In SaaS sales, you cannot afford to miss a single opportunity. If there is a deal in the pipeline that has a high possibility of closing, then timely attention should be given to it. In SaaS sales, you cannot waste a single minute, take every step necessary quickly to push the deal towards the closing stage of the sales pipeline.
1. Look for buying signals
While chasing opportunities, sales reps tend to miss out on prospects who are genuinely interested in the product. Don’t miss out on the buying signals. Make a list of high-quality deals and check if those prospects are ready for purchasing your product. In SaaS sales, you need to stay alert for acting in real-time.
Below are a few examples of such signals
- The prospects were moving in the sales cycle at a normal pace, and suddenly they speed-up their pace.
- They’ve started asking specific questions regarding the solution and its pricing. This might imply that they are approaching the stage to make a purchase.
- The prospects sound more positive and give quicker replies to your emails. This enthusiasm may mean that they are interested in what you are selling.
- Prospects start inquiring about your company and clients like since when you have been in the industry and which companies are using your product.
- They use phrases like “That seems quite helpful” “That’s interesting” “Send me more details, I’ll look them over” “It would be great to use it for ____ project.”
If the prospect seems interested, you need to take the next step as soon as possible and direct them toward the final closing stage.
2. Create a sense of urgency
For closing SaaS deals faster, you need to make your potential buyer act quickly. One of the best ways of doing this is by creating a sense of urgency.
- Offer interesting discounts and freebies for a limited period.
- Build velocity towards the close by mentioning what the prospects will miss out if they don’t act now.
- Place pressure on the potential buyer for stimulating faster buying decisions.
- Talk about the risks of delaying the implementation of the product.
3. Use the summary close technique to close the deal
The SaaS sales process is very long. The prospect might forget most of the things you said during the initial stages of the sales process. You need to press the rewind button and remind your prospects about the benefits they will receive by purchasing your product.
- Be specific and tell them what they will receive in return for the investment in the product.
- Help the prospects visualize the whole picture of the value you are bringing to their business.
- You should impress the prospects by convincing them that they are getting what they were looking for.
4. Follow-up with the prospects
Prospects won’t reach the finish line on their own. You need to nudge them continuously. Make sure you follow-up with your prospects consistently. Your prospects might be busy so don’t just call once or send one follow-up email and forget.
- Dedicate time in a day to follow-up with your prospects.
- Keep track of your follow-ups to ensure you do not overdo and annoy the prospect.
- To save time, automate your follow-up by creating a sequence of emails.
- Make sure you call or send your follow-up emails at the right time.
5. Address all the concerns
When money is involved, most prospects have the cloud of doubt hovering over their head. So speak to your prospects and address all their concerns.
- Find out what’s bothering your prospect and holding them back from tacking the next step.
- Listen to your prospects. Do not interrupt while they are speaking
- Stay calm and try to find a midway that’s beneficial for both.
6. Use the direct or indirect close technique
Once you manage to gain the trust and confidence of the potential prospect, you can use the direct or indirect closes technique for converting the deal into sales.
- Direct close– Ask a straightforward question like, “Should I guide you with the subscription details so that you can get started quickly? or “Your free trial is about to end in two days should we start your paid subscription?” or “Now that every concern is addressed, would you like to go ahead with a paid subscription to implement the solution as soon as possible.”
- Indirect close– Through indirect questions, try to find out if the prospect is interested in buying your product like “Is this agreeable to you?” or “How does the deal sound.”
SaaS sales is, without a doubt challenging. However, there are many top sales performers who are closing the deals and meeting their sales targets. All it needs is unwavering determination and the right approach. Do not give up easily, try your best to convert a SaaS sales deal. Use the best CRM software to manage and nurture your SaaS sales deals.
Salesmate CRM is one of the best sales tools that helps you manage different aspects of your b2b sales. Through its insightful reports, you can track your performance to see what’s not working. With its automation, you can save a lot of time. This advanced CRM has many other excellent features that can help you at different stages of the sales process to improve your closure rate.
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