Software as a Service (SaaS) has created quite a noise in the tech space. It has become a popular business model for organizations looking to license their software from a cloud-based server to different businesses on a subscription basis.
SaaS has dropped a revolution bomb in the tech space by enabling businesses to leverage the potential of software without even purchasing the whole application. The software can be accessed from anywhere, which has allowed business leaders, entrepreneurs and other individuals to collaborate through the software.
SaaS is developed exclusively for different businesses with an aim to improve their workflows, save time & money and enhance their revenue pipeline. This software distribution model has piqued software companies who are betting big on the potential of this revenue-earning avenue.
Since SaaS is managed, maintained and serviced entirely by the software providers, it requires constant support from sales staff. Business-to-business software sales sometimes continue for weeks, months and sometimes a year. Such long timelines can hamper sales prospects by making it tough for sales personnel to track every message exchanged and give their best effort to close a deal.
So, software companies now resort to CRM to manage SaaS sales since it gives them a better advantage to manage the whole sales process flawlessly. Here are five ways how CRMs can play a stellar role in SaaS sales.
- Assess the right channel to generate leads: Getting healthy leads which will convert into prospects easily is not a piece of cake. You have to scour avenues and identify the right channels by following the leads from initial contact to close of the sale. On top of that, in a long sales cycle, it is difficult to find the lead source. Its only with a CRM that the petty things are taken care of, guesswork is minimized, and human error is eliminated. Also, software CRM data can help businesses deploy the correct messages at the right time and minimize any effort.
- Convincing a client for a demo: To know about the software product inside out, clients ask for a demo of the software. In the case of cloud-based software, offering a time-limited trial can be the best thing in the sales book. However, for software representatives requesting a product demo sometimes becomes taxing as the chain of interactions that lead to a product demonstration are lost in the process. A CRM can sift through the chain of interactions, analyse the data, and then persuade the clients to try out the demo.
- Structure the interaction process: Demonstrating a software to a client is one part of the software sales cycle. However, the main interactions happen on the other side of the demo. With software CRM, you can sieve the main interactions that help to convert top leads into prospects. With all the main interactions and talking points identified, the data is used to further the post demo sales process.
- Sharing leads within the organization: In a long sales cycle spanning months, a potential client interacts with multiple people of an organization for understanding the potential of the software. Such leads are distributed within the sales and marketing reps who close them and report them to the final authority. In the absence of a CRM system, all critical interactions of the leads with various teams get lost. A CRM records every facet of information and updates them continuously into one integrated database so that the information is available in real-time to anyone in touch with the client.
- Keep a track of the subscription service: Software providers use subscription services to market their software products. With a large number of clients leasing their software services, it becomes tough for marketing and sales guys to keep a track of the subscription time periods. Maintaining active dialogues with clients on a regular basis is another added pressure. CRMs help sales and marketing teams highlight new features of the software and identify the right time to reach out to customers and remind them about subscription plans through automated emails. This also makes customer support teams proactive by providing guidance at the right time.