This is the second in a five part series where we will share the Key Takeaways from the webinar: Building SaaS that Scale: Accelerating Sales, Hosted by Modern Logic and Lighter Capital on August 18th.
In the first of the series, the key takeaway was to really know your customer – what pain and needs they have and what value your product or service can offer. It is important to focus on this from day one. The second key takeaway is to have deliberate market focus that evolves with your product and marketing and sales initiatives.
Getting Focus:
- It is important to get clarity and focus. Use the PAC work sessions, research and focus groups to identify your priority market segment.
- Drive toward having a narrow market approach
- Focus is important as you can’t be all things to all people
- Create product market fit fast, that is aligned with your priority market segment
Asking the Right Questions:
- Which product variation can you build most quickly?
- How long will the sales cycle be?
- Which can prove ROI?
The Value of Focus:
- Your team can use resources more effectively – Sales teams are more focused, effective, and productive
- You can learn exactly what the prominent market’s needs are
- You can create value-driven customer material and training for sales
Going from People to Systems:
- As you get ready to expand your sales team, you can ease in the addition of more people and have them target companies you already know how to serve
- You no longer need to be dependent on a special highly skilled person to achieve desired sales results
- Operationalize sales and delegate with clearly defined goals
- Be diligent in keeping a narrow focus by instilling sales qualification techniques
- The persuasive sales process becomes repeatable, fast functioning and you’ll see sales successes build. You’ll ultimately see a reduction in the sales cycle
Always relate product direct back to the Product Advisory Council
- This means you use the customer view of the product and not your own and focus on solving real problems for the customers
- You can discover the market as you grow and what different features, tools, and problems are unique and similar
Key Takeaway:
Do the legwork to get focused. Choose a market segment that you will pursue and build sales into. As you build customers within the focused market segment, you will be in a position to prove market fit through referenceable customer