Guest Blog By Matt Wolach, SaaS Sales Coach.
Sales, specifically selling your SaaS product, is essential to ensure your business will thrive.
Or even survive.
Sell, or your company will fail, and you will risk losing your business. We’ve all heard that sales and deal-making are the lifelines of any company. Without them, there is no exchange of money, and without money, you will not last long.
This is where the real problem starts. The majority of professionals despise selling. In fact, many people are terrified of it. Some people are unable even to call ‘selling’ by its proper name. They would instead refer to it as business development or even marketing when they mean selling – engaging with potential clients and convincing them to buy from you.
But what if I tell you that you can sell SaaS without actually selling? Impossible? I think not. Allow me to introduce The Perfect D.E.A.L Process.
In this case, D-E-A-L stands for the critical pieces of this process, and make sure to take down notes because they have nothing to do with selling.
The Perfect D.E.A.L Process is an effective sales technique that will help you sell your SaaS effortlessly without looking too sales-y. Want to know how to do this? Keep on reading!
To make sure that you are headed in the right direction, it is essential to get to know your prospective clients before going in for the kill. During this phase, the wealth of knowledge regarding your potential client is important. It’s more than their names, business basics, and how much revenue they make. It is about focusing on their pain points as a business and figuring out where your product fits in the equation.
If this step is done right, you will be able to build a certain level of trust between you and your potential client, as well as an emotional pull to solve their problems, which is vital to get to the next step.
It is now time to educate them. Did you know that a study conducted by MIT Sloan shows that sellers who educate their buyers actually sell more than those who don’t?
Because of the increase in the number of online sources available, your buyer is far more educated now than ever before. In response, you must alter your sales process. Buyers no longer need to attend sales meetings or listen to traditional salespeople’s presentations to better understand the solutions your company provides.
Instead of presenting features and benefits, use this opportunity to transition old-school salespeople into sales guides who can help them facilitate an educated decision.
Now that we’re through two of the most critical stages in The Perfect D.E.A.L Process, this is the best time to associate your product with your buyer’s challenges. This is the time to show them that the way to get rid of their pain is through your solution.
Since you have identified their needs in the Discovery part of this process, it‘s now your turn to make them realize that you have the solution to their problems and that you can alleviate their pain for good.
At every point of the process, and especially during the demo, you should be the one handling the conversation. You should be the one in control, with no exceptions. Once you have shifted your mindset from being the one who needs to sell something to being the one your customer needs, you can go ahead and lead the prospect to the close.
One way to make sure you are operating the process well and continuing to improve upon it is to record your calls and conversations. There are some great conversation intelligence tools that can help you do this using AI to analyze the call providing you valuable insights. You may have heard of Gong or Chorus but I really like what Rafiki is doing, check it out.
In recent years, the rules of selling have shifted – for the better. Gone are the days when pushy salespeople were being applauded. No one appreciates the determination of a salesperson trying to meet his or her daily quota anymore. The name of the game has changed, and the question is – are you willing to help your buyer’s as opposed to thinking of them as dollar signs?
If so, the results will give you those long desired dollar signs.
Matt Wolach loves everything about SaaS. As a founder, investor, and mentor to hundreds of SaaS founders, his mission is to help SaaS leaders overcome early obstacles and scale their companies to success as quickly as possible.
Find out more at mattwolach.com