In the last few years, Software-As-A-Service (SaaS) has grown from humble backgrounds into a nearly $200 Billion industry. Given the need of enterprises of all scales and sizes in using software solutions, the industry is set for unabated growth and progress.
SaaS continues to be one of the leading factors driving the tech world. However, while it means that there is a lot of possibilities for growth, there are also marked challenges and competition to deal with.
B2B SaaS companies operate in a smaller niche and try to leverage their offerings differently as compared to B2C SaaS businesses. Experts have pointed out that the B2B SaaS companies have many restricted access points and markets that limit their exposure.
In this article, we speak with a leading company that specializes in onboarding B2B SaaS businesses on the Google, Amazon, and Azure Cloud Marketplaces, Tackle.io. We ask them to list down some definite strategies that can help B2B SaaS companies improve their sales.
B2B SaaS Businesses: What are they all about?
B2B SaaS businesses offer a range of diverse offerings to other businesses as a solution. They use cloud-based technology to help power the security, client relationship management, and accounting needs of other businesses.
The business model works out to monthly, quarterly, half-yearly, or annual subscriptions, depending upon what the B2B SaaS company is offering and what the receiving business feels most suited to paying.
B2B SaaS businesses also offer onboarding help, excellent customer and technical support along with optimizing the performance of the business as a whole. The shifts towards a more technical nature of business have helped these B2B SaaS businesses grow by leaps and bounds.
The end goal of using B2B SaaS solutions is to automate business processes. It works to reduce and eliminate human engagement and involvement and provide better efficiency for companies.
List of 5 Strategies B2B SaaS Companies can Improve their Sales
Try to Create Simple and Precise Combined Offerings-
B2B SaaS companies need to realize that other companies prefer software solutions that are simple, direct, and precise. In other words, too complicated an approach will only deter businesses that are already not too proficient in dealing and engaging with cutting-edge software and tech solutions. This is why simplicity and concise nature are the way to go.
Understand the Challenges of the Businesses and Respond Accordingly-
Rather than pitching your product to the client as a solution to their problems, a better approach is to first understand the needs of the business itself. This will make the business feel that their specific interests are being taken into consideration rather than a software seller trying to impose on them their product. Both these approaches will have one common result in instances.
Work with Companies that Onboard on Google, Azure, and Amazon Marketplaces-
B2B SaaS companies need to explore verified and credible new ways to build their sales. One way that has emerged in recent times is working with technology companies that help you list your software on cloud marketplaces. Google, Microsoft, and Amazon have now put in place marketplace solutions that allow B2B SaaS companies to list and sell their software.
Create Bundle Offerings that are Incentivized for Businesses-
Many B2B SaaS companies make the mistake of not offering incentivized bundles on offer. They rather try to pitch software solutions separately to their clients. This makes it difficult for businesses not only because new processes arise but also because subscription fees go up. This is why the need of the hour is to incentivize software solutions in a bundle package.
Tech Support, Education, and Free Trials-
B2B SaaS companies need to realize that they are compelling businesses to try something that is technically challenging yet beneficial for their businesses in the long run. This is why they need to ensure that their experts are on call to help these businesses adapt and train their employees. Throwing in extended trial periods can also be a great way of creating attraction.
The Bottom Line
In the next few years, companies are expected to depend on as much as 78% of all their needs on SaaS providers. Given the rising levels of competition, these five strategies can play a major role in improving sales and generating revenues. If you have any other questions, you would like us to answer, let us know in the comments below.