A few weeks ago I spoke to a SaaS company that offered a CRM system. They had a problem: it was very difficult to convert their leads into paying customers.
I’m sure you have similar difficulties, therefore, I share a solution with you that helps sell complex or/and highly priced solutions and creates more satisfied customers… not to mention its good effect on your saas startup growth.
Go home SaaS, you’re too complex!
Lots of companies have complex services which make difficult for them to create and maintain fast saas startup growth. Complexity means that it requires a big effort from the prospects to start using it because the lack of knowledge or the integration is difficult. Just imagine: your company has a problem (for example you need a CRM system) but when you are searching for different products you realize that implementing a system requires big changes in your processes. Scary, eh?
It is a barrier that needs to be moved away to maintain saas startup growth.
The second difficulty is when your offer is highly priced. You give your clients a huge value, I understand it but this value can be perceived only after you converted your leads… Let’s say you need a marketing software for your SaaS. But you need an 1500 USD solution per month. Would you spend this money without knowing the value it will provide? NOT AT ALL.
It is another barrier that needs to be moved away.
I’m not telling you that you should give up your dream about your saas startup growth or the whole business. Why would you read this article if you would do that?
I’m not telling you that you should lower your prices. Competing on prices is also a very bad solution (not always but usually).
So what do I suggest then?
Think from the buyer’s perspective!
In both cases, your prospects think: does it worth the effort to implement such a complex system? Does it worth to pay so much money?
I know that for example in B2B it’s not always that simple but if you can ease this pain for them, it will convert for you much more prospects I promise. I even dare to say that it is the holy grail of the lead nurturing processes you do.
So it means that your buyers want to know what they will experience before they decide to climb the barrier of complexity or/and price.
For example, you want to buy a training program because you invest in educating your employees. You check training program offers, read the descriptions and the referrals, you can even ask friends, colleagues. Although you choose one it would much better if you could see one session for yourself, wouldn’t it?
What would you do if you could download the first part of the training for free? You would download.
What would you do if you could check one part of the training session for a very little money? You would participate.
With all this knowledge, you could decide whether you think this training course would be good for your employees and your investment would return. And all in all, it would help in your Saas startup growth eventually.
Now think about your business with this approach!
So back to you again. You have a complex SaaS offer. What can you do? Just think about it: how would you buy a similar service? What would help your decision? If you could experience the value before you make big commitments like changing your internal processes or investing high amount of money.
This is why lots of companies use trial versions of their product. Well, that’s great. But marketing is a little bit complicated than that – you need to sell to the right person at the right time with the right message. If you have a trial, you make people subscribe when you think they are about to buy. If you don’t wait for the right moment it will be much more difficult to convert them into a paying customer.
So please cut your service into pieces as you would do to an apple. (I remember eating an apple was always better when my mother cut it into pieces for me, although I would never do it for myself.)
You probably have features that are standalone solutions for a more specific problem of your prospects. Break down that part, that specific feature which can be standalone still provides real value and relatively easy to implement because it’s a focused tool.
If you think that you can’t do this, try to think about it. Try to develop it from your current feature set. The goal: create a product, that doesn’t solve everything but one little painful piece.
This will be your Buyer Converter Product.
What the heck is a Buyer Converter Product?
Well, believe it or not, selling to current clients is much much easier then selling to leads, in SaaS especially. Why? Because companies don’t change day by day, If they trust your company, you will have higher chances to sell again. And this is one of the key parts of saas startup growth.
So what is a Buyer Converter Product? It’s a standalone feature of your product that is sellable but not complete. It solves a specific problem but it’s not enough to solve the whole problem.
And you sell this “product” for a very low price. Why? Because you successfully removed 2 barriers by this time:
- You have low complexity
- and low price!
And now the trick comes in again. You have a valuable, standalone tool which is a very low ticket offer. So what you should do: you put this offer on “Thank you pages”. These pages are visited by the customers after they download your “hook” from a landing page.
Yes. This is an impulse buy. In B2B too!
Pay attention: you need to give them high perceived value. So please don’t try to sell them something that nobody wants. That’s just not working. Because if you pay only 1 USD for a piece of crab, you won’t buy more from that company. Don’t expect different behavior from your clients.
So they started to use your Buyer Converter Product. So from now on, they are not your leads, they are your customers! So what can you do now to create fast saas startup growth?
No, you don’t sell your “core product” to them. You ask them to UPGRADE to the core product. Why?
Because they’ve just bought a service from you. Why would you ask them to buy another thing? But if you ask them to upgrade the feature set in order to have the best experience with your service, that’s totally different!
So this is one way to create high growth. Because if you are smart you can put viral growth engine into your low-cost buyer converter product and your delighted customers will start to pour in.
He graduated from the Technical University of Budapest, with master’s degree in Software Engineering, Economics and Management.
As a serial entrepreneur he has 10+ failed projects and one big winner one: growing Protopmail email marketing service from zero to a market leader position in Hungary.
He has been working more than 20 years in software development, more than 10 years in IT project management and also having the serious of 10+ years experience in email marketing and marketing automation.
Aside from running a successful business, Gabor is also an email marketing and marketing automation consultant and works for clients like GE Money, DHL, Bridgestone and for several banks and insurance companies.
He also appears at multiple online marketing colleges as a guest speaker, and a well-known speaker at online marketing related conferences.
Gabor speaks 4 languages, has three kids and he is a serious golf addict.