“We had investors begging us to take them on. We eventually exited for a lot of money. It all was because of what I developed: the Perfect D.E.A.L. Process—the process that helps you sell and scale SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... companies.”
Matt Wolach
Questions and more questions
Have you been in the software industry for a while now?
Have you uncovered the key to B2B SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... success?
Are you looking to either sell or scale?
Are you wondering how to get investors on board (like Matt did)?
These are the questions that keep me awake at night. And I wonder if it is the same for others in the industry.
I read a lot of books and blogs on sales. And listen to a lot of podcasts even. What then is the best way to go about it? The answer, my friend, is blowing in the wind (Not really! But let’s just say, it is somewhere close).
Well, we came close to the answers when in our DevReady Podcast, we chatted with Matt Wolach and learned about his Perfect D.E.A.L Process.
The humble origins of the process
Matt Wolach is a SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... Expert and a SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... Coach. Years ago, when Matt started in SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... and undertook the responsibility for sales and marketing, he was filled to the brim with confidence. He knew that the product was great and that it would help customers.
What he did not know, however, was that his years of experience in sales and marketing could not be replicated in the world of SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the.... He recounts his early struggles in SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... and says that it took him countless trials and errors to arrive at the perfect process—the D.E.A.L. Framework—the process that allows SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... companies to both sell and scale.
Having tasted success for himself and a bunch of his friends, he then decided to make a bigger impact and help people around the world get benefit from the same process. Matt says, “The Perfect DEAL Process has been proven to work because it is simple and repeatable.”
The Perfect DEAL Process
D is for Discover
Most often than not, the lack of sales is directly proportional to the product/service not solving a problem the customers in the market have. This is where the first step i.e. ‘discover’ comes into play.
Matt says it is a prerequisite to learn about your prospective customers’ pain. You need to really go in and discover what their situation is, what the pain points are and whether they are willing to take action to solve their problem.
All of this sounds easier than done: find a problem and then develop a solution. Owners of SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... products would agree with me when I say, the reality is much more than what appears.
Your target audience doesn’t care about the SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... product you are building. All they care about is whether or not your SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... product will help them solve a problem they are facing.
People saying that your innovation is cool is one thing. People actually buying the product, however, is a whole different ball game.
That is why the discovery of the pain points is all the more important. Dig deep and get all relevant information from the target audience. There are no shortcuts to be taken here. Leverage whatever tool you might (google, surveys, user feedback…) but understand what is that which pains the target audience the most.
It takes some skill and persistence, but once you get the first step of ‘discover’ right, the rest should be a piece of cake. (not really! Ahem) But clarity would most certainly help you define the process going forward.
And as someone rightfully said over Twitter, one fine day, “No pain, no sale.”
E is for Educate
SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... companies would acknowledge that customer education is a critical driver of business growth.
Innovation and feature changes happen all the time for SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... enterprises. In fact, change is a characteristic of any SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... product. So, customers need to be engaged continuously. They need to be educated about your product, features, launches and all that in between.
Or else the competitor will do that and get ahead in the race. We wouldn’t want that, would we now?
Customer education is a strategic business function. Educate the customers when onboarding them and when engaging. Only then will you be able to gain new customers and retain existing ones.
The customer wants maximum value from the product you offer. So, educate them on the utility of your product, and tell them how it has an edge over the competitors in the market. Educate them so that they trust you to solve their pain points for them.
But be mindful to make this step of ‘educating the customers’ easy. Build a strategy around it. Be consistent and ensure that the customer journey is as wrinkle-free as it can possibly be.
When done right, this step will help increase levels of customer satisfaction, reduce the volume of support tickets, increase adaptability for the product, drive more leads, improve rates of retention, and generate revenue.
And if I were on Twitter, “Educate them all—the ones you want to gain, and the ones you want to retain.”
A is for Associate
Now that you’ve discovered the pain points for your prospective customer and also educated them, you need to associate your solution with their need to do something about their situation.
If your SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... product does what they want—solve their pain points—then they’d be more than willing to pay for it.
Your prospective customer will invest in the solution only when they truly believe that it would make a difference for them.
If there is a misalignment between what the prospective customer expects and how your solution is going to deliver upon those expectations, it is GAME OVER for you.
But all fingers crossed, your solution is the proper fit for the needs of the customers. Make sure you’ve asked the right questions, addressed the main pain points and iterated to fit the changing needs of the target audience.
And as my bad-pun-intended Twitter self would advise, “Your proposed solution better not be the pain in the SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the....”
L is for Lead
From prospecting to closing of the sale, take the lead.
Any service in SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... is ongoing. Customers pay and they expect a high level of continued service. Building trust from the onset is vital.
The prospective customer needs to feel that you are confident in your abilities and that you are certain about the solution that you are offering to solve their problem.
Take control of the conversation and the process so that they feel comfortable with you. Because you want your customers to stay and grow with the company, take charge of showing them who you are and what you can do for them.
The SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... buyer journey starts when the customers realize that they have a problem and are actively seeking a solution. Lead the conversation from that moment on.
Be proactive in your approach and do the following:
- Know your customers
- Go above and beyond to find their pain points
- Set goals for yourself and for them
- Engage them over different touchpoints
And as for the rest, here’s that Twitter line, “Lead ‘em to the SaaS-y light!”
In a nutshell
SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... solutions are among the fastest-growing segments in the IT industry. The most recent data shows that the global SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... market is estimated to reach $223.7 billion by 2022 and is expected to hit $716.52 billion by 2028.
It is also a highly competitive space. To sell and scale here is easier said than done.
The Perfect DEAL Process could be a solution. So, here’s what you need to do:
- Discover what makes your prospect tick.
- Educate the prospect before selling the product to them.
- Associate your product as the solution to the prospect’s exact problem/need.
- Lead the prospect through the entire sales cycle.
With our proven DevReady process, @Aerion Technologies, we can help you design and build SaaSThe term SaaS stands for Software as a Service. SaaS is an evolution of an application that runs on the... that can be both scaled and sold. Reach out for a free consultation TODAY!
