Spotlight on SaaS Models
SaaS or Software-As-a Service, as you know is the business model whereby software programs are managed on the cloud with subscription pricing as compared to installing software on your own. It’s how many tech companies offer their services. The consultants with Your Revenue Growth Team are no strangers to the model.
SaaS companies have two revenue models:
- eCommerce, or, buying the SaaS program online with an offer.
- Funnel tactics, or, segueing from demo/trial lead generation to sales follow-up to close.
Besides our general 6-step growth approach for B2B we pay attention to:
- Buyer personas: what is their need; what are they using now, why they should switch.
- Pricing approach: what pricing levels and what’s included? How does pricing compare to competitors?
- Current and target MRR (monthly recurring revenue) and ARR (annual recurring revenue).
- Conversion rate from website lead to customer sale.
- Marketing mix plan & analysis (first click conversion to last click conversion, aka attribution)
- Message strategies- understanding how prospects will feel once they purchase and focusing on outcome content strategy.
- Retention process
- Teleservices or appointment setting process.
- Lead generation process:
- Mid-funnel lead magnets
- Bottom-funnel demos/trials
- Funnel cadence (thought leadership emails, promo emails, social outreach, calls)
- List procurement- 3rd party sources, email platforms, list verification, sales engagement platforms, “cold email” message tactics.
- Marketing and sales tech to drive prospect engagement.
- Customer churn and win-back strategies
- ROI by channel; dashboards to insights to suggested pivots.
By reviewing current KPIs with projections based on expected improvements as implemented by Your Revenue Growth Team, your SaaS firm will grow further. Be prepared to test approaches, but also allow time for data to tell stories, so that we can act on those stories to optimize growth performance.
Get some strategic insights on how slight improvements to your marketing and sales conversion rates, B2B, Saas, or eCommerce, can grow your business substantially.
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