Six obstacles to completing enterprise SaaS sales
When completing business SaaS sales, no one in the SaaS industry wants to hear those four pesky words.
Typically, the phrase “we’ll see” means “don’t get your hopes up,” which means be prepared to be kept waiting until you (hopefully) back off.
When you believed you were about to close an enterprise SaaS sale, prospects all too frequently adopt the “we’ll see” stance and leave you hanging. Everything is going well; they are interested; they’ve tested the product; yet they won’t make the purchase.
To put it mildly, these closing-time delays are awful. Not just for you, but also for the potential customer who is losing out on the benefits of your offering.
Failure to tailor your pitch
Different clients have various wants, and you can offer them different solutions.
A paraphrase is a phrase that is used to describe something to you or someone. This doesn’t so much slow down business agreements as it does stop them from happening.
How to Prevent It: This issue needs a mental adjustment. In this blog article, Steli Efti (Close.io) describes sales representatives.
“[They] should modify [their] pitch and sell in accordance with the prospect’s preferences, not in accordance with their own comfort level.”
Refraining from excluding all stakeholders
Even if the CEO approves, it doesn’t necessarily imply it will happen. Not just the people who force your goods down onto them, but also the ones who use it, make decisions.
To prevent it, schedule meetings (or at the very least phone calls) with all the key parties involved in the deal. This is crucial if you want to sway every decision-making factor in your favor. In this blog article, Steli Efti from Close comes through once more with an excellent summary of the stakeholders you may encounter in your sales.
Neither side exhibits a sense of urgency
Business organizations won’t be in a rush to sign the contract; if they were, they would have chosen one of your typical packages. Before they put pen to paper, they want to be certain that every last little detail is straightened out.
Yet, this slow pace does little to increase your conversion rate. The speed you set must balance everyone’s needs and keep everyone content.
To prevent it, give the client a deadline along with a “limited time offer” to encourage them to commit. Make them feel in control by offering a discount or something for nothing. This does not imply that you should press the customer into deciding immediately now, but rather that you should provide them additional justification for believing that your good or service is the best option right now. The Lift Model by Chris Goward at WiderFunnel is a wonderful source for this.
Ignorance about the competition
In this article, Earnest Sweat explains that “I have no competition” is never the correct response. Competition exists if someone else is doing something that is like what you do. They don’t have to be a direct rival; they could be an indirect rival as well.
How to Prevent It: Research your competitors before you start trying to sell. If you don’t, how can you be certain that no one else is operating in the same manner as you? Conduct your research before speaking with prospective customers; you don’t want to be caught off guard when they ask, “What sets you apart from [insert similar product here]?” For assistance with this, refer to Brandwatch’s Comprehensive Guide to Product Positioning.
Your Timeline Isn’t Qualified
They can take as much time as they need because you haven’t given them any direction moving forward. So, to speak, the “ball is in their court.” This is related to the third point, which is lack of urgency.
To avoid it, set up a follow-up schedule for yourself and let the prospect know when you’ll next get in touch to ask for a status update. Then, go from there. This keeps them responsible and establishes a deadline for when they might need to decide.
Finding a captivating event is another excellent method for qualifying a timeline. According to sales trainer Richard Harris, a sale is typically connected to a particular event that the prospect requires the answer for. In this blog article, he provides a wonderful illustration of how to qualify a timeframe for a sale.
Acting as a “Yes Man”
Saying “yes” to anything a prospect says may give them the impression that they are in complete control of the situation and can walk all over you.
To prevent it, establish boundaries before you start the sales process to make it clear what services you may and cannot offer. A smart way to prevent the client from pressuring you into the “yes man” role is to agree to an “Upfront Contract,” which we described in this earlier blog article about closing enterprise deals.
In summary, there are 6 delays in your business sales that you might spot:
- Not individualized your pitch
- Closing all parties involved
- There is no rush on either side.
- Not being aware of the competition
- Not defining your deadline
- Acting as a “yes man”
Poor SaaS salespeople will be aware of the causes of these delays and will consent to them. But you’re not like that; you’re prepared to apply these remedies to go past problems. Start making sales of enterprise SaaS!
Work 365 is a billing subscription software and SaaS subscription management for Microsoft partners and software vendors for Microsoft partners and software vendors to streamline recurring revenue and quote to cash process.