If you’ve ever found yourself curious about software-as-a-service or SaaS, you’re likely going to have heard about its many benefits for business. In fact, it might actually be a good option for your company as a business owner, given how today’s businesses are starting to have a growing reliance on applications and software that streamline work operations and various aspects of businesses. However, if you’re the type who wants to be careful with every business decision you make, you’re likely going to wonder how SaaS impacts sales, and this article will give you a quick rundown.
Interestingly, SaaS and sales seem to have quite the connection – especially if you are a software company leaning towards SaaS. It’s understandable that sales will be your focus, too, given that software companies that only show 20-percent growth per year have a 92-percent chance of disappearing within the next few years. Thankfully, acquiring a dollar of revenue per new customer isn’t extremely challenging for SaaS companies, as the median cost to acquire a dollar per new customer is around $1.18. If you get your SaaS company properly set up, you might be able to generate $3.9 for every $1 of revenue lost while obtaining customers. Given the make-or-break nature of SaaS for a lot of companies, just what kind of trends should you look into to check how sales and SaaS services get to synergize?
- Assess consumer behavior: From the statistics above, perhaps a bigger focus of SaaS companies who want to make better sales should be allotted towards consumer analytics. For instance, the arrival of new technologies have allowed people to make purchases online, and the same convenience this offers is something consumers expect when they make B2B purchases. As such, if you’ve noticed, SaaS apps tend to focus on speed, convenience, and easy access. At the same time, consumers expect their experiences to be translatable into things to be posted on social media. Consumers need content and information fast.
- Demand is growing in services: Software giants and growing software companies have always competed about providing various services at the fastest time possible – as evidenced by the brutal growth required for SaaS companies to thrive. However, this has pressured SaaS as an industry to create fast, convenient, and memorable buying experiences at the same time. As such, companies who want to leverage into SaaS to get better sales should start thinking of ways to meet the demand in such a way that doesn’t compromise their performance in the market in general.
- Leverage on SaaS for sales: The explosion of SaaS in companies have slowly paved way for services that prioritized optimizing the sales process. This “boom” in SaaS tech allowed companies to have easier access to improve company operations and increase productivity, allowing sales reps to be able to reach people across different platforms easier and faster. This also paved way for more data to be optimized, tracked, and measured.
- Relationships are vastly different: Personal connections remain to be a focal point when it comes to tapping into a prospect in order to support your brand. How these relationships are formed, however, have vastly evolved over time. Gone are the days when prospects have to be wined and dined to get a response. Instead, you can directly approach them courtesy of social media. Interests, hobbies, and passions are already exposed online for everyone to see – and as such companies need to amp up their marketing game by appealing to their market in unique ways.
- Business models have evolved: The rise of “subscription services” have started to differentiate the way software is released to both companies and consumers. “Monthly services” have started to be on the rise, which allowed companies to have more flexibility with the budget they’re releasing into creating new content and offerings. Likewise, consumers now have the option to resume or disconnect their subscription whenever they wish. Tapping into this model can help companies leverage on smaller investments with potentially bigger returns.
Conclusion: An Investment Worth The Plan
If there’s anything you should learn about SaaS and sales, it’s that SaaS – like any other business tool – isn’t exactly immediately going to earn you more profit. Like with any strategy and campaign material, SaaS is best utilized if you avail one (or make one) in accordance with your business objectives and operations. Being able to plan just how you should integrate your SaaS into your company operations and strategies will likely maximize the competitive advantage SaaS can offer and even help you get those returns.
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