At NotesAlly, we hosted a webinar by Rangathan R where he talked about CTTDTI - The formulae to propel sales. He has shared some thoughts around various facets of the services and product sales. This blog is about my learnings from the Webinar that are specific to SaaS sales.
Devising the Go-To-Market Strategy
There are various aspects to consider but there are the top few which have to be thought about during go-to-market. It is important to come up with the idea of how to position the product, geographies that we need to target, our target audience segment, and the size of the company.
Identifying the right channels
It helps to make decisions based on the data instead of the hunches. If we experiment with the right marketing channels such as LinkedIn ads, Google ads, email campaigns, etc., we will begin seeing the results sooner as opposed to needing to wait for weeks or months for conversion or gaining some traction, by word-of-mouth marketing only. Most importantly it is important to inspect the metrics periodically and make decisions based on it.
Use some sales qualification framework such as ANUM
It is nothing but a general tactic that guides how a salesperson approaches each step within the process to ask the right questions to customers which matters to us. ANUM is one of such sales qualification frameworks preferred in SaaS sales which stands for (Authority, Need, Urgency and Money). Here the emphasis is on the Authority(decision-maker) to whom the salesperson speaks. Secondly, the Need which helps the salesperson understand if the prospect has a business pain that we can solve. Thirdly, Urgency which helps us understand if it is a pressing problem to be solved or what else is the priority to the customers. Finally, Money - to understand if the customer has enough budget to solve the unmet needs.
Sales and Marketing team are the one
With the GTM functions of Marketing, sales, customer success/support team now all being connected by the fabric of the digital funnel & customer data, it is hard to keep track of the hand-off points. The line between them has blurred, and no longer does marketing end when a lead gets handed to the sales team.
It is vital to inspect & adapt in any process. Conducting retrospectives periodically on what went well and how to adapt if things are not going as per the plan will help the team to reflect on the work done and decide what to change.
We need to put the customer needs/pain-points at the center of all strategies and then build the solution to meet them rather than building new features onto the product which may not be meaningful for the end users. This will enable the organisation to focus much more on building long-term relationships with their customers that result in increased contract values and high-quality referrals.
Hope you find this useful!