Learnings selling a B2B SaaS Product
It’s been a while since I wrote and published it here. I always have things to write about. However, I file it in the background, add it to a list and just continue with work.
I have been focused on learning and working. However, I have learned that writing, and documenting my progress, stories is part of my journey.
I work on a B2B-focused Product, and I’d like to summarize key lessons I have learned driving, and supporting B2B sales.
They include.
· Understand and Document the customers’ problems.
· Show how your Product solves the problem and meets the customer’s needs.
· Show Value and Return on Investment.
· Get a commitment immediately.
· Have decision makers present.
I was able to grow from 3 customers to 16 new customers by the end of the year.
In the early days of joining my company and in our bid to expand our portfolio of customers. We began a sales drive, generating leads from partners and other channels. We hired dedicated salespeople, whose job was to generate leads and pitch the product.
However, after a few months, every salesperson resigned as they weren’t making headway. The product in question a Sales Force Application (SFA) for Manufacturing, large Distribution companies in the Fast-Moving Consumer Goods market was difficult to sell in a market like Nigeria.
This was because First, a popular company that could afford it already had in-house solutions or products recommended by the parent company outside of Nigeria. Second, other large companies who could afford it preferred a more popular SFA due to branding, and third, smaller companies who needed it couldn’t afford it.
I ended up taking this up alongside my Product Manager role, as our now resigned sales team had generated a few leads and there was no one to close or follow up. In dealing with these leads I learned a few things I share below.
Understand and Document the Customer’s Problem
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Whenever we get a new lead, we first schedule a call or meeting to introduce ourselves as a company and get to know our customers. We ask them for information on their sales process, sales team, and areas they cover and ask them about the challenges they face today with their sales.
What are their goals for using an SFA?
Do they have an existing application, etc….I try to collect as much information as possible to build a profile for the customer.
Please note, do your research before the meeting and ask questions for confirmation, clarification and for details. Let them know you have also done your research, but you would like to hear from them. Customers like to talk about their businesses.
Use hands-on techniques to show how your Product solves their Problem, meets their needs
The second call, meeting is where I demo the product to the customer tailored specifically to meet their needs. In this demo, especially in person, I create demo accounts, give the customer access, and take them through a typical salesperson’s operations step by step.
Sometimes we even go as far as observing usage from the team of an existing customer on the field.
During this step, I ensure key decision makers are here e.g., National Sales Manager, Chief Operations Officer, etc. People who can approve, make the decision. I focus on them and harp on pain points raised in the previous meeting.
Show Value and Return on Investment
Beyond meeting their needs, you need to show how much value they will get from the Product, in whatever terms they can relate with. For me, it was team Productivity and Redistribution data. At the end of the presentation, I show them a Dashboard with sample data that they can get if they use the application. Sometimes I show the Customer this Dashboard first without demoing the Product and they are sold.
Get a Commitment.
Immediately after the demo, I offer them a Pilot or trial immediately to get them hooked. I already have the documentation and details ready to go, which I share immediately.
These steps were learned through trial and error, from my boss, interacting with several sales leads. I can assure you that they work, and I sometimes apply everything in one meeting depending on the context.
Also, be Prepared and be Patient!
I hope you have fun applying them in your next Product Sales runs.
