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16 tips for selling your software
Software subscriptions can be difficult to sell. On one hand, the market is exploding; total sales are expected to reach $195 billion this year. On the other hand, there are now over 17,000 SaaS companies in the US - and many more non-SaaS ones.
That is a staggering number, and it means competition is intense. Having a good product is no longer enough. You also need to have outstanding marketing and sales.
One way to do that is by adding product-led growth tactics to your go-to markets. Another is to follow the 16 tips in the write-up on this page.
Category 1: Analyze and plan
With smart research and preparation, you can tailor your software to meet the needs of your potential customers. This can differentiate your brand, create self-driving growth, and - ultimately - get more clients.
Identify your USP
The USP (unique selling proposition) is a feature or quality that distinguishes your product from that of competitors.
Understanding your USP helps you find the perfect audience for your product. The reverse is also true. If you know your audience and what they want, you can adjust your USP to make a product more valuable.
If you're still in the development stage, understanding your USP can help you create a product-led go-to market. If your product is already complete, understanding its USP helps create marketing messages that resonate with your target audience
Define Your Target Audience
It’s hard to sell to your audience without a good grasp of who they are. That’s why defining them is helpful. .
One simple way is to create customer avatars. These are documents that list things like prospects’…
- Geographical location
- Age range
- Gender
- Salary range
You can use multiple avatars to cover multiple customer types. To make your avatars as valuable as possible, it's important to make sure you know who your prospects are first.
One way to do this is by looking at secondary sources - including the competition. Who does your competition seem to be targeting? Who is giving them their testimonials, success stories, and case studies?
Another way is to do your own research. Surveys, interviews, and other research methods will reveal your customers as well as their needs and desires. Observation tactics like social listening, where you watch users interact with each other and brands online, also works well.
Test and act on feedback
Testing helps you add value by revealing problems and areas of improvement. It’s a way to learn what your target audience thinks of your software and improve it.
This feedback can show you which features need to be added or fixed, inform UX improvements, and highlight leaky sections of your funnel. Act on it intelligently, and you’ll help yourself sell more.
Develop a marketing plan and funnel
To maximize sales, it’s important to understand how to drive potential clients from awareness to purchase. For this to happen, you need a marketing plan you can follow - and a matching funnel or customer journey.
The first step is to choose between a sales-led growth (SLG) or product-led growth (PLG) motion. Then you need to develop a process that takes prospects and turns them into customers..
From the customers side, this process can be mapped as a funnel or customer journey. From your side, you’ll need a marketing plan: a list of actions, strategies, channels, and other variables that help maximize sales.
Not sure how to go about marketing and sales? Consider hiring an expert consultant who’s worked in your specific niche before. They’ll be able to help you sell more software using their experience.
Category 2: Market and sell
It's not enough to just have a great product; you also need to market it skillfully. Here are 8 ways to do it.
Free trials and freemium versions
In SaaS , companies offer free trials or freemium product versions to entice users. One reason is that free product versions cost little to nothing for software companies. Another reason is that the tactic is effective.
Most of the time, free product versions are offered for end user software (like Canva). The idea is to help users try a product without needing money or organizational buy-in. If they choose to adopt it, they can become paying customers or internal advocates risk-free.
This is valuable to software companies, but also to end users. A big win-win.
The difference between free trials and freemium products? Free trials often have a time restriction and provide users access to the entire product. Freemium versions only offer a restricted version of the product with no time limit.
Get more referrals
Word of mouth drives as many as 50% of all buying decisions. Statistically, referrals work just as well - which makes them extremely powerful . Getting your current customers to recommend your software and vouch for it publicly is one of the best ways to scale quickly.
The most effective way to do this is to offer bonuses and features that incentivize users to share your product. Dropbox famously did this by giving out free space in exchange for referrals.
Where possible, bake rewards for referrals directly into the product. Create features that help users invite others. The less friction there is, the more referrals you’re going to get.
Create educational content
Educational content can do a few things for you. First, if optimized for SEO, it can drive website traffic. Second, it can promote you as a thought leader and valuable resource. Third, it can help educate potential customers, driving them towards the sale and qualifying them.
Leverage upsells and cross-sells
Creating upsell and cross-sell opportunities is another way to maximize sales and revenue for your software. It basically means offering complimentary products your target market might be interested in.
Cross-sells involve advertising similar items or add-ons that can improve the user experience. For example, ClickFunnels users can opt to pay extra and get hands-on help with funnel creation.
Upsells involve providing customers with more (or better) versions and features at a higher price point. For example, if you go from a low-cost Salesbricks account to our enterprise plan, that’s an upsell.
Upsells and cross-sells do a few things for your organization. Most notably, they…
- Improves customer retention and loyalty by providing a more complete solution to their problems
- Boosts profitability by leveraging existing customer relationships
Network and build relationships
Building strong networks and relationships can be a good way to create a buzz around your software. It's especially valuable to establish connections with thought leaders and influencers. These people have a following and can help spread the word about your software to others.
It’s important to highlight that even a single partner can help transform your business in a positive way. Mutually beneficial opportunities go a long way in the business world, leading to sales and revenue for everyone involved.
Optimize for conversions
Your website should be an active part of your sales process; not a digital brochure with basic information on it. This means optimizing your site for conversions, i.e. sales.
One way to do this is to take the marketing plan and funnel you built (Tip 4), then apply them to your website. Over time, find new ways to increase conversions at each funnel stage - and repeat over time.
Another idea is to reverse engineer the competition’s websites and sales funnels. You can learn a lot about what works and what doesn't by looking at their design, messaging, and calls to action. This makes conversion optimization a lot easier.
Some general tips that work well:
- Use clear and compelling headlines and subheadings to grab visitors' attention
- Ensure your website is eye-catching and appealing to potential clients
- Use high-quality images and videos to showcase your software and its benefits
- Include social proof, such as customer testimonials or case studies, to build credibility
- Include a variety of CTAs on your website and make it easy for visitors to take action
Offer competitive pricing
Since software tends to be so competitive today, it’s important yours is priced competitively. To make sure it is, research similar software products, features, and pricing. This gives you a better idea of what the market is willing to pay for what you have, as well as what they expect in return.
Offering a lower price point for your software product can be an effective pricing strategy. The same goes for offering a bigger feature set and a higher price point. What matters is that potential users are generally comfortable with your ask.
This strategy can help you gain a foothold in a crowded market, build a customer base, and grow your feature set over time.
Work on your online presence
Many SaaS start-ups have an awful online presence. Ugly websites, no self-serve configuration or pricing, and threadbare texts that tell readers little.
That’s why it’s important to work on your online presence over time. You’ll want your website to have quality design, quality UX, and quality content. Free materials - case studies, videos, blog posts - are all big value-adds, too.
You also want to make sure you’re visible on your key social networks - like Instagram, Facebook, and LinkedIn. On the social media pages for your company, you should include featured images and videos of your software, customer reviews, and possibly even demos.
Use special promotions
Using special offers to your advantage is a useful way to attract and retain customers. Consider running a limited-time discount or promo to sell more.
- Time-limited offers will encourage people to make purchases sooner rather than later.
- Holiday-themed offers will put your offer in front of people when they’re relaxed and ready to spend.
- Provide discounts for bulk purchases or long-term purchases to get more of these.
And so on and so forth. Over time, see which promotions work best and use iterations of these to improve performance.
Category 3: Analyze and refine
Measure and Analyze Results
With metrics like total sales and total conversions, you get a glimpse of how well your software is performing in the market. As you analyze data and outcomes, you can make informed decisions about your sales strategy and areas of growth.
There are many ways to measure and analyze results:
Analytics tools:
Analytics tools like Google Analytics, Adobe Analytics, and Mixpanel are commonly used to track website traffic, user behavior, and other KPIs. They help you figure out how your website or app are performing.
QTC software:
QTC software like Salesbricks can tell you all about upsells, renewals, cancellations, and other subscription events. It can then help you turn insights into guardrails for sales..
Social media analytics:
Social media platforms like Facebook, Twitter, and LinkedIn provide analytics tools to track KPIs such as engagement, reach, and conversion rates. You’re likely to need them if you’re marketing your product on Socials.
Iterate and improve
To stay competitive, it's important to continuously improve your product and funnel. To do that, collect data and insights about product performance and customer satisfaction over time. This way, you can adapt to expectations and needs as they change.
Additionally, keep an eye on market trends. This will keep you ahead of your competitors and keep you relevant in your niche.
Using the insights gained from customers and market trends, you can update your software to help sell it better. This can include adding new features, improving user experience, and adjusting pricing or marketing strategies.
Partner With Other SaaS Companies
Partnering with other SaaS companies can be a great way to expand your reach and attract new customers. While it's true that other companies in your industry can be seen as competition, they can also be valuable cross-selling opportunities.
After you’ve identified other companies whose products are similar to yours and even complement yours, your partnership can help you grow and reach a bigger audience.
One useful way to work with other SaaS companies is to offer exclusive discounts or promotions to their users. An example of this is offering a discount on your software to customers who sign up for another company’s product in the form of a discount code.
Partnering with other SaaS companies can also provide valuable insights and feedback from their customers. By working closely with other companies, you can gain a better understanding of what their customers are looking for and how your software can address those needs.
In summary
In conclusion, our comprehensive guide presents 16 powerful tips to help you conquer the competitive software market with ease. The three types of tips we recommend you follow are:
1. Analyze and Plan: Smart research and preparation tailored to your target audience will differentiate your brand and drive growth.
2. Market and Sell: Skillfully market your product through tactics like free trials, educational content, and networking, turning users into loyal advocates and repeat buyers.
3. Analyze and Refine: Constantly measure your results, adapt to market trends, and collaborate with other SaaS companies for mutual growth and insights.
If you want to sell a lot more software, consider using Salesbricks to do it. Our state-of-the-art quote-to-cash solution streamlines the sales process, ensuring a seamless experience for you and your customers.
Don't miss the opportunity to make a lasting impact in your industry. Sign up for a demo today and see the transformative difference our innovative quote-to-cash solution can bring to your business.
Why not book a quick meeting and see what we can do for you?
What if you never had to wonder what goes into a SaaS quote? What if a piece of software asked you a few questions, then generated the perfect quote for you - each time?
Better yet… What if the whole process only took a few minutes?
we do here at Salesbricks.
