When it comes to growing sales, there are a million levers you could pull. Inbound marketing, sales process, content, paid ads, free trial conversion rate, customer retention, messaging... The list goes on.
But which of these levers will unlock your fastest path to revenue?
That's the question every SaaS leader should be asking themselves. What is the best use of your limited resources TODAY?
Finding your fastest path to revenue begins with reflection. You need to evaluate what’s working today and where you’re lacking.
To start, attempt to answer the 5 questions below. These questions will force you to review the most fundamental aspects of your sales growth strategy — in other words, the largest levers that will have the biggest, most immediate impact.
Want to dig even deeper? Take the 360 Self-Assessment — a 20-question survey that gives you a snapshot of your sales growth health.
Let’s get into it.
1. How well do you REALLY know your customers?
Our customers’ lives have changed in 2020 (Thank you, Captain Obvious!). That means their priorities and buying habits have changed, too.
Do your marketing and sales teams agree on a target account profile and ideal customer persona? How well does your support team know the challenges your customers face, and how your solution can help?
Audience research is more important than ever. If you aren’t out talking to customers today, get going.
2. Are you positioned to stand out from competitors, and does your messaging reflect that?
It’s harder than ever to cut through the noise as a brand.
Data from HubSpot shows that sales email activity is up 111% over pre-Covid benchmarks, but response rates are down almost 32%.
That means it’s time to update your positioning and messaging. Too many SaaS companies are iffy in this area. If your positioning was weak before the pandemic, it’s absolutely crushing you know.
Consider these additional questions:
What is your big brand promise, and does everyone in the organization know it? How clearly do you communicate the value and benefits of your solution? Can your entire organization name clear differentiation points between you and your closest competitors?
3. How effective is your sales growth process?
In other words: Do you run your sales growth process, or does it run you?
An effective process is one that lets you perform the right actions across sales, marketing, and customer service — consistently — to grow sales. An effective process is one that anyone in the organization could run with minimal onboarding.
Do you have a documented strategy for sales, marketing, service, and how the three departments work together? How well-defined is your customer journey? Do you have a plan for increasing your customer share-of-wallet?
4. Is your sales growth technology empowering your team, or holding them back?
Every SaaS salesperson has a CRM horror story. There’s a fine line between empowering your team and bogging them down with red tape. The same is true for marketing automation and customer support technology.
How consistently does your team use your CRM, if at all? Are you using your marketing automation tool to its fullest capacity? Does your customer support platform enable fast responses and self-service options? How much time is spent working ON your tools, instead of growing your business?
5. How engaged are your people?
None of the questions above matter if your people aren’t motivated and engaged. This is especially true now that so many companies have gone remote.
Have your managers been able to keep their teams motivated? How often are employees hitting their goals?
One way to keep employees engaged is to double down on your vision, mission, and values. Have you documented your mission statement? Do you have tangible evidence of your values in action? Is your team bought into your vision of the future?
Staying ahead of shifting markets
There are a million little adjustments you can make to your growth engine. But will they really make a difference? To find your fastest path to revenue, always start by reviewing the largest levers - those fundamental aspects of your business.
Then - and only then - can you move on to fine-turning the engine.
It’s often easier for an objective third-party to review your sales growth program. Schedule a 360 Evaluation today to find your fastest path to revenue.