“OUTLAST YOUR SUNSET AND RISE AGAIN TO BRING THE DAWN”: SaaS Sales 2020

The ‘new normal’ has extended its influence in every sphere of an organisation – Sales is no exception.

The question to ask is - “Are hugely successful sales leaders adapting their sales strategies? Or are they sticking to their time-tested formulae?

“No sun outlasts its sunset, but will rise again to bring the dawn” - Maya Angelou

Some SaaS leaders I recently spoke with told me that its all about ‘survival’ while some others spoke of ‘growth’. I guess both of them are correct as the approach is also driven by the industry vertical or micro-vertical that you are in.

So, what should SaaS sales leaders look out for in the ‘new normal’?

1.      Building TRUST with EXISTING CUSTOMERS

Is there something that your customer is struggling with that you can help? Our customers will remember us on how they were treated when the going for them wasn’t good. Their positive experience will build TRUST and make them our lifetime ‘brand ambassadors’. Can we find something that our business is uniquely positioned to help with? In other words, how can we help our customers get some benefits with not necessarily any benefit to us, and I do not mean discounting ??.

2.      How are we relevant to NEW CUSTOMERS?

The only way we can hold on to our price positioning is by showing relevance to new customers. Most CXOs are looking at lowering costs in these times, but how can we still sell to them without discounting? In this instance we need to dig deep and figure out how ‘cost savings’ will accrue to each of our potential customers. There is more effort here – but sales teams need to research into each account to understand cost structures and what savings can be delivered through automation – and this is not a ‘one size fits all’ approach traditionally taken by companies who publish generic statements on their websites around cost savings that are always difficult to demonstrate. There is a mindset shift required in the sales team and the ‘sales process’ itself

3.      QUALITY vs Quantity – the conundrum for prospecting!!!      

The new normal will see the transformation of Inside Sales teams and Sales Development Reps (SDRs) from following an automated ‘one size fits all’ process to a more targeted and custom approach. Account/Lead scoring will require a thought process that goes beyond mere ‘touch points’ to website resources, to actually researching verticals and micro-verticals that are seeing growth or at least remaining flat. While this research may impact traditional KPIs related to quantity of leads, it calls for changing KPIs into ‘quality of leads’. Would you rather have an SDR generate 100 leads that leads to a 20% conversion or generate 50 leads with 70% conversion?? Of course, the extent of research would also be determined by how complex the product sale is!! 

4.      Rapid UPGRADATION AND SKILLING of sales teams

The new normal is a great opportunity for us to make significant changes around mindset and capability. The current circumstances of ‘work from home’ has given all of us the opportunity to work even more closely - what with the several tools for proactively managing activities and the risk of micro-managing. The true capabilities of several team members is now coming out in the open. ‘Shift in mindset’ around changing methodologies in prospecting and selling is not easy and will call for time investment from leaders to make it happen. Likewise, focus on sourcing information across different verticals and being more cognizant of change in the business ecosystem and environment. Sales organizations need to be nimble and flexible.  

5.      Sales teams to leverage FREEMIUM models

Freemium models have always existed as a default product offering. But these have become even more relevant in these times. Traditionally, sales teams have been upbeat with leads generated though such offers. But now, more than ever, the sales team needs to take ownership of moving freemium sign ups -to usage of the free service - to defining the benefit - to commercial conversion. I am seeing several sales teams flounder in taking this forward to a commercial closure. The definition of sales is changing and somewhat overlapping with customer success teams. Significant point for sales leaders to ponder over!!    

Positive mindset shifts and the willingness to believe that ‘everything changes’ in the 'new normal' will drive sales leadership in 2020