We’re living in the age of the consumer-driven sale. Gone are the days of consumers buying and purchasing because of “the way things have always been done”—handshakes, signatures, and project lead times. Today, successful businesses provide their services and sell their products in ways that are easiest for the consumer. In the B2B world, this is done with efficient, self-service methods:
This is the third feature in a our 6-part series from our CPO, "Thinking Like a Tech Company". This series highlights the shifts in consumer behavior and its impact on how we do business today. Here are the first two articles in this series: Thinking Like a Tech Company Part 1: Take the Amazon Approach and How to Identify Areas of Opportunity in B2B Sales to Appease the Consumer
The sales team is one of the most visible extensions of your company and stands at the forefront of its initiatives to increase revenue and remain competitive. The sales team is responsible for optimizing the sales pipeline and converting leads into customers—a process which often includes long, interminable delays and periods of inactivity. Contracting can actually slow down your sales cycle at the exact moment it needs to be swift and frictionless.
Sales velocity measures how quickly your business makes money, how quickly leads move through your pipeline, and how quickly you close deals. Naturally, a higher sales velocity means your business is making money more quickly. In this post, we'll tell you where your sales team should focus their energies in order to boost sales and shorten your overall sales cycle.
This post was originally published July 2015.
Whether your business sells a SaaS product or plastic widgets, your sales people probably use some sort of paper order form to close deals.
Even if you have attempted to move the entire sales process online, some of your deals will probably still close offline. As if managing contracts wasn't already difficult enough, the combination of online and offline sales make it much more difficult to keep track of sales contracts. However, with a little planning and the right tools, you can not only make this process easier to manage, you can also streamline your entire sales process and increase your sales velocity.
As a small to midsize business, you don’t have time to waste on cumbersome processes. At the speed business moves today, you can't let a bottleneck like traditional contracting slow down your sales cycle and impact revenue. In this post, we'll outline the modern signing methods now available for you to send to customers and reduce the amount of time between opportunity and close.
There's no nice way to say this: traditional contracting processes are cumbersome. Overreliance on manual processes and a disorganized workflow too often translates into numerous back and forth between parties, needless paper pushing, and excessive redlining. And that doesn't even include the natural time suck already inherent in most manual processes. In this post, we've outlined three concrete steps you can implement to take back the time and money you're currently wasting in the contract lifecycle and increase your sales velocity.
At Dreamforce 2018, PactSafe CPO Eric Prugh sat with leaders from SaaS companies Sigstr, AskNicely, and DoubleDutch on CloudElements’ #PoweredByIntegration panel to discuss the importance and benefits of integrated products and prioritizing integrations with your product roadmap. This topic was particularly relevant, as here at PactSafe we just announced our exciting new product Chat-to-Sign. Integrating with SaaS tools Slack and Intercom, Chat-to-Sign allows users to create, send, and accept contracts directly through the tools they already exist in daily.
You’ve identified a customer’s needs and address them with your solution. You sent all your best marketing materials, given your best spiel, and emailed your contact the contract. The sale should close soon. Just a short wait now. So you wait… and you wait… and you follow up only to be told to wait some more. It’s a situation you probably encounter before. Your sales are caught in limbo. How can you prevent this from happening and start closing deals faster?
Self-service signup is in integral part of user growth
The majority of Software as a Service (SaaS) apps rely on self-service signup where users can either access the platform first through a free trial or be invited to the platform by a colleague asking them to join an existing account. Essentially, this exchange allows the business operating the SaaS application to generate a license for the user, which in turn grants them access to the application.