Teamleader headed out to SaaStr Annual in San Francisco, February 6-8: the largest SaaS event in the world. The result: a backpack filled with business and technology insights we can’t wait to share with you.
To grow your business, you need to gain new customers. But how can you turn sales efforts into a sales machine? Below you can find expert tips from leading sales experts in the SaaS business that can be applied to any business.
3 tips to build a winning sales culture
Great coffee, a nice office, video games at lunch… an amazing company culture with cool freebies is a great motivator to boost your performance - but that’s not the only thing. Justin Welsh, VP of sales at a medical technology company called PatientPop, shared three top tips he got from his own employees.
1. Personal care: as a sales person, you need to be happy in the company and feel appreciated and cared for. That’s why a company should help out on a personal level. You need to offer them something that makes their lives easier. For example, when your top-performing sales person just became a parent, offer them a prepaid milk subscription for a few months. Another example is when a person moves to another apartment, you can offer them to pay for a moving company.
2. Listen and take action: to get a feel for problems within the company, organise regular team meetings such as a quarterly team lunch to get your colleagues’ issues off their chest and, more importantly, suggest practical solutions. The most important thing is taking action. After each initiative, management should propose a deadline on when to deploy these initiatives.
3. Choose incentive plans wisely: Rewarding your team if they’re doing a great job is important. Your paycheck is not just the only motivator, at the end of the day, you want to be part of a team - so make sure you organise regular incentives for the team.
Building a great sales team starts with recruiting the right people that are up for the job. What characteristics should you look for to identify a great salesperson?
How to build an outbound sales team
At SaaStr 2018, we attended a panel discussion with renowned sales guru Aaron Ross (author of PredictableRevenue.com) and three sales team leaders from a community, financial tech & marketing automation company.
Outbound sales basically means the salesperson is the first to engage with a customer. It’s a tough nut to crack, as customers haven’t heard about your business before and can be caught off guard. What exactly can you do to make this strategy successful? If you don’t have a a person solely dedicated to outbound sales, you won’t see results. Appointing a person who leads the project is crucial. Persistence pay offs: typically it takes around three to six months to set up the campaign before you can start reaping the benefits.
Mistakes in outbound
- The biggest mistakes salespeople can make is assuming. Always double-check your information and become a subject matter expert to deliver value. The most important thing you can do in helping people buy (selling) is to understand them and what they want.
- If you’re working with an agency to help you secure meetings with potential clients, it’s a common mistake to pay for someone to secure meetings for you that will never take place or meetings with leads that aren’t qualified. You might as well be pouring money down the drain.
How to double your sales in 30 days
Creating new opportunities for your business
1. Know your target audience and increase the quantity AND quality of leads: by targeting the right audience that are a fit for your business, you’ll be able to increase your conversion rate as well as the growth rate for your business. If your market is big enough, you’ll have plenty of opportunities to target your sweet spot customers (the infamous low-hanging fruit) before exploring new verticals. To drive growth, you need to bring in a lot of quality leads: knowing which customers are a fit is paramount to sales success.
2. Get things right from the start: companies typically invest a lot of time and money in generating leads, closing deals and onboarding customers… But what if they churn? Focus on doing things right from the start, at each step of the process:
- Understand your verticals and target your sweet spot customers
- Call leads immediately to increase conversion rate from lead to meeting
- Identify the needs of your leads and qualify them to make the biggest impact possible
- Onboarding is key: make sure customers get what they want to prevent them from churning - if you constantly bring value to customers, they might upsell and be a great referral
- Lead recycling: if you invested time and effort in leads that didn't buy in the end, trying to win them back at a minimal cost is never a bad idea
How do you know you're selling to the right leads? Ask these qualification questions and seperate the wheat from the chaff.
The size of your team matters
When it comes to the size of your sales team, there are two mistakes you can make: expanding your team too quickly or not expanding quickly enough. However, it’s better to grow your team more quickly than the other way around: if you’re generating enough leads, you need to make sure you can quickly follow up by calling and qualifying. If you don’t have enough people, it will take too long to achieve this goal… which will make you lose money in the end.
Teamleader at SaaStr
As a Software-as-a-Service company, we really couldn't stay away from the biggest SaaS event on the planet. New to our company? Then check out our Product Tour page to find out what Teamleader is all about.