SaaS (software as a service) is a type of software hosted by a single provider or software company. The software is managed by its customer success team and supported by the provider’s product engineers. SaaS allows users to connect to and use cloud-based apps over the internet.
SaaS sales is the process of selling web-based software that customers access through an online portal. SaaS sales products are used to solve a business problem. Like all B2B sales, the end goal is to make the customer more successful. The product usually has a subscription-based pricing model, so customers effectively become repeat customers every month, quarter, or year.
SaaS sales are conducted by Sales Development Reps (SDRs) and Business Development Managers (BDMs). SDRs focus on outbound sales and qualifying leads, while BDMs focus on conducting product demos and closing deals.
A SaaS sales team has one main objective: to move qualified leads through the pipeline and generate new revenue for the company.
A SaaS sales strategy uses a variety of sales techniques, with the end-goal of closing deals or upselling current clients.
With SaaS sales strategies, there is no “one size fits all”; you need to find what works for your business. Deciding on the SaaS sales strategy depends on where your company is in its SaaS adoption and development. A SaaS Sales strategy plays a huge role in your ability to grow and position your company for long-term success.
To reach the ultimate goal of generating revenue, your strategy should focus on:
The SaaS sales process refers to the stages a company goes through to close a deal with a potential customer. There are five stages in the SaaS sales process:
There are three main SaaS sales activities:
The only way to measure the performance of your SaaS sales team is to track Key Performance Indicators (KPIs).
KPIs are incredibly important in the SaaS sales sector, where deals are signed and revenue is calculated on an ongoing, monthly basis. The most important B2B sales KPIs to track are:
The KPIs tracked by Cognism’s Sales Development Representative team. These include:
The KPIs tracked by Cognism’s Business Development Management team. These include:
The final SaaS sales metric to look at. This involves:
The SaaS sales process can be greatly improved by the adoption of sales technology. A wide variety of SaaS sales tech exists which can be implemented at all stages of the sales funnel.
Cognism has curated a list of the best B2B SaaS tools - click to see the ultimate B2B SaaS sales tech stack.
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