As a member of your SaaS organization’s sales team, you will likely be asked to contribute to software RFP responses—and, you will probably be asked a lot.
Because you prioritize the relentless pursuit of the sale, your time is a rare commodity. By improving your software RFP process, you’ll save time and contribute the best possible RFP responses for your organization. The best possible content is obviously important, being that sales proposals are critical selling documents that impact revenue.
Your job is both a science and an art…selling is a science, and closing is an art. Learn how to master this balance in your SaaS sales process, overcome common obstacles, and close more deals for your organization.
“Today, the sale is won by the salesperson who communicates a story that gets a buyer to imagine new possibilities.” – John Livesay
SaaS Sales: Relationships, Price Wars, and Time
We reached out to SaaS salespeople and asked them to describe their top industry challenges. Casey Hill, Sales Executive at Bonjoro, shared his top three hurdles and we shared some ideas for overcoming these sales hurdles to help you succeed.
1. Not hearing back after an initial meeting.
Your follow-up is absolutely critical. You must demonstrate value, and personalize and tailor messaging for your individual prospect. To establish this relationship, you need to demonstrate precisely why they need your solution to solve their problems.
2. Getting involved in a price war.
You are put on the defensive here, but you don’t need to be. Casey says “know the value of your product, and stick to your guns.” Your prospect may be putting you under a lot of pressure, but in the end, the cheapest solution is not always the winner. Show them how your software will directly benefit their bottom line.
3. Knowing where to allocate time when it comes to your pipeline.
Time is money, and nowhere is this truer than sales. Know your statistics, manage your pipeline, and stay organized and proactive. Casey advises using your organization’s top salespeople as a blueprint for success. Learn how they break down their processes. The most successful sales teams know how to balance time management and limit distractions.
Overcoming each of these challenges is a learning experience. Apply these takeaways to your next sales proposal to hone in on the value-add and show ROI potential. With better time management, you’ll have the headspace to make these improvements in your SaaS sales process.
SaaS Sales: Listen, Be Inquisitive, and Sell Benefits
There’s an old adage you likely already know by heart if you’re in SaaS sales. If the customer says “I’m buying—stop talking,” you’re in big trouble.
We need to let the customer do the talking. This is how we learn what they are looking for in a SaaS solution. The best salespeople are inquisitive. You listen and respond. You want to find out what problem you can solve. Sell them the benefit, not the feature.
How will a given feature of your software increase the customer’s revenue, lower their costs, and save them time? Talk to your potential client about end-users. Target their needs in the conversation.
In the 2019 RFPIO Responder Survey, we asked busy salespeople what their favorite RFPIO feature was. A resounding 93% said the answer library. It’s a great feature, definitely—but how do you sell that? You could point out what the answer library does in mechanics and specifics. However, the real win lies in selling it as “an efficiency.”
RFP response automation is a winning solution. When you save a salesperson’s time, they can focus more on selling, thus also affecting the bottom line. Now you’ve sold them on saving time and increasing revenue.
Apply these principles to your next RFP response. If you allow your prospect to do the talking and find out their greatest need, you’ll walk in their shoes and know which benefits will best appeal to them.