When you first set out to build your software, how did you envision it working? Like some software designers maybe you just outlined it in a Google doc and then maybe you used a product like Invision or Gliffy to visualize the design. This allows you to begin to systemize your approach. It’s not perfect but it helps you think in chunks. It helps you take on the project in a systematic way.
The better you map it out, the easier the build out is and the more efficient the final product is. Of course there will always be iterations and updates as you cannot read the minds of your future users, but you used a systematic approach to building your software.
So why did you create your software in the first place? Why does anyone build a software? Simply put, you set out to create an efficiency for a challenge you or someone else is currently experiencing. You set out to eliminate manual work and make things take less time. You have created systems and automations. Ultimately you will make someones life better, easier, give them more time, and help them magnify results. Does this sound about right?
So my big question to you is, why haven’t you created systems and automation for selling your software to give you more time, make your life easier, and help you magnify your own results?
Not knowing how to is not a good answer. You didn’t know how to solve the problem you set out to solve with your software but you succeeded. If it were straight forward and easy everyone would do it, but it’s not.
Why Your Lack Of Sales System And Automation Are Killing Your Potential
Like most technical software founders, you are great at creating systems and automation. They make sense to you. They make your customer’s life better. The funny thing is that you probably don’t think about selling in the same way and that doesn’t make any sense. You know systems create efficiencies and there is a systematic approach to building out your product. What you don’t know or don’t want to admit is that sales is the same way.
It may not look the same or act the same because instead of technology you may need some man power to implement it, but the approach is very similar. You yourself have a problem and that problem is that you need to get your software in the hands of as many qualified people as possible. You need revenue to pay your team. You need to hit certain goals to either raise more money or scale. You need money to sustain your business.
The challenge is you are not looking at sales this way. Like most of our clients their main focus is launching a perfect product because they have spend so much of their time getting the product ready. But like most first time entrepreneurs, sales and marketing is an after thought.
They launch with no strategy and no emphasis on building a sales system. They make assumptions and the most common one is that they think they can do it themselves, which is why, over and over, we work with entrepreneurs that just cannot make sales work after wasting three to six months in trying it themselves.
If you are a new SaaS and you don’t have any kind of sales or launch strategy, you are in deep shit my friend. This isn’t a game. This is your hard earned money (or your friends and family’s) or your investors hard earned money. By not using a systematic approach you are leaving the survival of your company to chance. If I asked you these questions right now could you answer them?
* What is your customer LTV?
* How many leads you are engaging a week?
* What percentage of those leads turn into demos?
* What percentage of those demos are turning into paid customers?
* What is your churn rate week over week?
* How many demos do you have booked this week/next week and is it growing?
Perhaps you could answer some of them but the numbers are embarrassingly low. Yet you wake up and you ask yourself, “why is this not working?” The reason is you do not have even close to enough people engaging with your product, your pipeline is drastically anemic, and you cannot possibly make it work with the lack of volume.
What’s The Solution?
It’s automation. It’s building a sales process. It’s not giving a damn that you are interrupting someones day because you believe that your software will help them enough to make them love you.
You must look at sales from a systematic approach. You must create a flow like you would with designing your software. You need to visually see it and you must work on each area until it works. When your software has a glitch or a error it’s because there is something wrong with your flow and or process. If your sales are lacking it’s the same thing. There is something wrong with a part of your process.
It could be leads, it could be messaging, it could be number of prospects going through demos, it could be not telling your target customers what they want to hear. Your process is broken.
In 90%+ of the cases, there is a problem with the top of the funnel. The top of the funnel is where you expose yourself to prospects on a massive scale. Hundreds if not thousands of prospects are going to tell you no because of one thing or another. Your closing rate in the beginning is going to be terrible.
You may close 1 in 50 or 1 in 100 companies that you are exposed to. It sucks but it’s a necessary step to get to the point where maybe you eventually close 1 in 10 or 1 in 5.
You’re top of the funnel needs to be overflowing all the time. When it is, you have enough prospects to run through the rest of the funnel which make you better and better at prequalifying, communicating value, and closing.
As you move down the funnel you start to get better and better with process. You start being able to forecast growth. You start being able to get your sales team to increase their efficiency and become better openers or better closers because you have learned SO MUCH speaking to hundreds of potential prospects. That may be what it takes to create a winning sales system.
At the end of the tunnel you have a system so bullet proof that you meet every Monday morning, you look at the sales stats, the top of the funnel is getting exposed to more and more prospects, there are more and more demos each week, the closing percentage goes up, the churn rate of the customers goes down because you are continuously speaking to more and more qualified prospects. Imagine that in your business!
You will soon reach a point where you have created a sales system that can be automated and scaled. It’s running at maximum efficiency. It has accomplished the goal of giving you more time, making your life easier, and magnifying your results. The difference between the software’s that succeed and those that fail is that the ones that succeed have figured out how to keep that funnel full and continually optimize each part of the funnel until there is a systematic and automated approach to selling.
What To Do Next?
There are two scenarios to run through here. The first scenario is that you can try to learn and do this yourself. You can spend hours and hours learning about how to create these systems. You can sift through hundreds of sales books and courses trying to find the right one for you. You can throw it all up against the wall and see if it sticks. You can wing it until you get it right. Doesn’t seem so efficient does it?
This leads me to one of my favorite quotes that has truly helped me learn to be smarter and more efficient at growing my own business.
“A smart man makes a mistake, learns from it, and never makes that mistake again. But a wise man finds a smart man and learns from him how to avoid the mistake altogether.” Roy H. Williams.
The second scenario is to find experts that have been there and can help you create that automated sales system. You have a certain expertise that makes you great at creating product but you almost certainly don’t have the expertise to sell that great product, which could be even more important than the product itself. Your product dies without customers paying you to use it…period.
Look no further for experts in SaaS sales. This is what we live an breath. We also don’t need to beat around the bush and be “non salesy” because we know what we do works and we know for a fact, after speaking to hundreds of early stage SaaS companies this year alone, that companies need our services.
If you are looking to create that sales strategy and automated sales system, book a free strategy call with us. Be the wise man or woman who finds experts to teach them how to avoid the mistakes in building your sales system. Here is our calendar. http://meetme.so/startupcmo
Book a time now. Looking forward to talking soon.