$50,000 MRR in 6 Months?
Udit Goenka
Raising Pre-Seed Round (Send me a DM to learn more). LinkedIn Top Voice. Angel Investor. TedX Speaker. LinkedIn CAP India 2022. Featured by LinkedIn India. Building India's first AI-first SaaS Venture Studio.
My name is Udit Goenka, and I'm the founder of?firstsales.io
We've built a comprehensive sales suite that includes cold outreach, email warm-up, and LinkedIn Prospector tools, all designed to streamline and enhance your sales process.
Enough about me, let's dive into how you can start growing your SaaS using Cold Email and Personal branding in case you're struggling to grow your SaaS.
This guide will help you to reach up to $50k in MRR while helping you to remain bootstrapped.
Step 1: Define Your Ideal Customer Profile (ICP)
Before you start sending out cold emails, it's crucial to know who you're targeting. This means defining your Ideal Customer Profile (ICP). Your ICP should include details like industry, company size, job title, and any other relevant characteristics.
The best way to find out is to get a subscription to the LinkedIn Sales Navigator and explore all the filters to identify your ICP.
Make sure you are growing vertically, not horizontally. This means that all of your sales copy on your website should be built around that ICP, otherwise you will struggle."Vertical growth" is the magic word here.
Step 2: Build a High-Quality Prospect List
Once you've defined your ICP, it's time to build a list of prospects that match this profile. There are several tools available online that can help you with this, but my favorite prospecting tool is LinkedIn Sales Navigator.
Remember to focus on building a list where the company has a problem and has money to solve that problem.
Very often SaaS startups focus on building a list of prospects that only have problems but no money.
Ideally, you want to target companies that have 11-50 employees.This is a sweet spot because if someone has a team of 11, that means they're spending around $15k to $40k per month on fixed salaries.
Such companies will have no problem paying $50-$500/month in subscription fees.
Step 3: Craft a Compelling Cold Email
Cold email channel is your best friend if you are building a B2B SaaS. No other channel comes closer in terms of results + driving positive ROI.
The success of your cold email campaign largely depends on the quality of your email.
Here are some key elements to consider:
Remember, the goal of the email is to start a conversation, not to sell directly.
Step 4: Personalize at Scale
Personalization can significantly increase your email response rate. However, personalizing every email can be time-consuming.
Use automation tools to personalize emails at scale.
You can personalize based on the recipient's industry, job title, or any other relevant information.
Here is a pro tip for you, make sure you always create ONLY ONE campaign per ICP and country.
Example - You are targeting marketing agencies in the USA.
However, Marketing Agencies can be of all types, so you need to segment this ICP - SEO Agency, Performance Marketing Agency, Social Media Agency, etc.
Now let's say you have selected Performance Marketing Agency in the US, now build a campaign around them.
Make sure you research and understand the challenges they go through to address those problems in your copy, otherwise you won't get their attention.
Personalization isn't just about changing their name, company name, etc., it's about personalizing their needs and addressing them in the copy.
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Step 5: Follow Up
Don't be discouraged if you don't get a response to your first email.
It often takes multiple follow-ups to get a response. Use an email tracking tool to know when your emails are being opened and schedule follow-ups accordingly.
I use a total of 4 follow-up sequences in a 1+1+1+2 day delay strategy and I usually get a clear "yes" or "no" from my prospect within a week.This strategy has improved my response rate from 1-2% to 4-5%.
I also often include a rock solid limited time offer in my cold email to create urgency.
Step 6: Optimize Your Cold Email Campaign
Track your email metrics (open rate, response rate, conversion rate) and continuously optimize your emails based on these metrics.
Always A/B test your variants and sequences. A/B testing can be a great way to find out what works best for your audience.
Step 7: Build a Strong Personal Brand
While cold emailing is important, it's equally important to build a strong personal brand.
This can help you establish credibility and attract more demo calls. Here are some ways to build your personal brand:
I currently have about 35,000+ followers on LinkedIn and about 54,000 followers on Twitter.
When I connect with my prospects on LinkedIn, they are super impressed with my profile, which helps me a lot in building trust.
Also, my prospects end up going through my daily content on LinkedIn to establish my credibility as a subject matter expert.
This is key in 2023 and moving forward because everyone wants to buy from a credible person.
If you don't understand what to post, here's a quick framework:
Step 8: Leverage Social Proof
Social proof can significantly increase your conversion rate.
This can be in the form of testimonials, case studies, or any other proof that shows the value of your product.
Include social proof in your emails and on your website.
Here is another suggestion - Always do some PR and strengthen your SEO because whenever you reach out, your prospects who are interested will "Google" about you.
Make sure you have a strong search presence.
If they can't find you credible there, they will give up and not buy from you.Here's another pro tip:
Every time someone opens your email, look them up on LinkedIn and send them a connect request with a personalized pitch.
Do all of the above and you can easily grow your SaaS to $20,000 to $50,000 in MRR in less than 6 months.
Got questions?
Leave them in the comments below.
Co-founder | Sales | SAAS |
1 年This content was really helpful.
Founder & CEO at ClearDeals (Bootstrapped) || PropTech Expert || Sales Expert || Awarded with Proptech Startup of the Year 2024 by Realty+ and MSME Award 2024 from DivyaBhaskar.
1 年Great insights in this newsletter issue Udit Goenka! Appreciate the effort you put into sharing these strategies. Among the topics you covered, I found "Personal Branding" quite intriguing. Building a strong personal brand can truly elevate a B2B business in today's competitive landscape.
Especialista em Inteligência Artificial e Transforma??o Digital . Head de inova??o, growth marketing e produtos digitais . Aluno do MIT e Next MBA
1 年Good content
Design Thinking for making Marketing Customer Centric|Coalescing Brand and Performance for Customer Lead Business Growth| MarTech and Adtech Expertise to evangelise Customer Journey |Data Intelligence |@IIMB|@MIT
1 年My thoughts When we say cold emails ? - Whats the personalisation involved in it apart from possibly trying using the 1st name in salutation from the database if at all - You do STP segmentation basis certain criterion but having said doesn’t that mean a templated approach .
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1 年Well detailed explained :)