Here are our top 10 pitfalls to avoid for new SaaS players entering into the Physical Security Market.
Be careful when utilizing industry advisors who have never positioned a SaaS offering. They might understand how to sell a tangible product, but using their business advice might set you back.
If you’ve gotten funding, don’t over-hire, instead focus on start up executives who understand; SaaS MRR, CAC, CLV, etc.
Channel Partner Rewards
New SaaS products are entering the market every day; a new product is hot, and then something else will grab attention, so keep your momentum by developing lasting Channel Partner programs that focus on rewarding loyalty.
Become a Reciprocal Business Partner
Don’t over-rely on Channel Partners to drive new business; you must own your pipeline and become a reciprocal business partner.
Use tiered selling. Most manufacturers exclusively hire; Regional Sales Managers, Sales Directors, Business Development Managers, and Account Executives. They’re needed; however, none of those roles are focused on prospecting.
Sales Development Representatives
Hire SDRs to focus on building your sales funnel with a blend of End-User and Channel Partner engagement, allowing your sales team to drive new business by co-selling.
Playbook and Workflow
Develop a solid playbook strategy with SDRs and AE/BDM/RSM.
Focus on providing excellent live demonstrations. Build a demo around your prospects pain points and challenges, make sure you review these and skip irrelevant features.
Map out your customer’s journey, focus on the onboarding process, and ongoing customer satisfaction.
Understand the verticals where you’ll have the highest success rate. Make your message simple and clear to help your SDRs communicate your value proposition.
Wave Representatives has also developed services to ensure consistent engagement utilizing the latest technologies and best practices. We provide our subscribers with dedicated, skilled teams under their identity and leverage our technology stack, allowing them to connect with prospects and follow-up successfully.
To find out how your organization can benefit from Wave Representatives contact us, and we’ll show you how we help solve these business challenges and more.
Wave Representatives, LLC™ Your Best Partner™