A Lead Follow-up System For Your SaaS Business
Everything you need to know to get a response from your leads
Many sales representatives fail to follow up with their leads adequately and therefore miss opportunities to acquire new clients or upsell existing ones.
According to a study led by Invesp, half of sales representatives give up after one follow-up or don’t even make a single attempt. On the other hand, we found that 60% of customers say “no” four times before saying “yes,” and almost all sales require at least five follow-up attempts.
As the SaaS industry is getting more crowded, sales representatives believe it’s increasingly difficult to get a response from leads. Additionally, they are afraid to appear pushy, force the sale, or simply because they lack sales discipline.
In light of these numbers, developing a solid lead follow-up system for your SaaS business is essential.
How to approach lead follow-up?
In most cases, following up multiple times with a lead is essential to progress the opportunity. There are various reasons why prospects that can get value out of your solution don't purchase immediately: they might need more time, have cost concerns, or need to know your business and solutions better to commit to a conversation, let alone a long-term partnership.
However, you could be one follow-up away from your prospect becoming a customer. Tenacity is an essential trait of successful salespeople. Keeping the conversation going through a consistent exchange will show that you are available and committed to understanding and solving their business needs.
It is practical to approach follow-up as an opportunity to build understanding with your prospects and learn to address any matters they might have. Creating confidence through consistent communication will reassure them that they are making a sound decision for their business.
This is especially important in SaaS, where signing a deal means entering a long-term agreement. Following up can also help improve your performance by getting critical feedback on why prospects are saying no at the moment.
Do not miss out on potential prospect conversations because of a lack of execution and perseverance to following-up. Remember that the prospect has probably contacted multiple solutions and that you'll gain an advantage by answering first and following up repeatedly.
Should you use email or phone to follow up with your leads?
The right channel to follow up with your leads is key to getting the best results. Usually, SaaS businesses get their leads from four primary sources: the website, lead-generation marketing campaigns, cold outreach, or referrals.
A phone call usually works better for a quick response, but it’s also more intrusive, and you risk getting a negative response if you call at an inappropriate time. If you’re following up by phone, always be prepared to leave a brief voicemail to the point.
On the other hand, emails tend to get more positive outcomes. According to Hubspot, 64% of sales professionals say email follow-up is the most effective strategy. Email also allows your prospect to study your offer and potentially forward it to a more suitable contact, but it’s less likely to receive an immediate answer.
More recently, salespeople have been using less formal following up channels such as social media, and this approach has shown tangible results. According to LinkedIn, salespeople that use social media for selling are 51% more likely to reach their quota. Learn more about social selling for SaaS reps
An automated follow-up sequence
Every prospect is different and might be more receptive to one distinct channel. Consequently, using a combination of additional follow-up channels is the winning strategy. It would be best if you used an automated sequence of emails, phone, and social media outreach based on a specific schedule.
But first, it’s essential to qualify all leads and determine whether the lead is worth the exertion. You can also identify any outstanding opportunity that might require a personalized and more thorough follow-up (an enterprise account, for instance). Segment your leads and implement automated follow-up software. Thus, saving time and avoiding the hassle of setting reminders.
So what should your follow-up schedule look like?
After a first contact (demo call, request from your website), follow up immediately with the next steps to advance your prospect down the funnel. The faster you encourage your lead to take action, the more chance you have of taking advantage of the momentum. If you are still waiting for a response, reach out once a week for a month, then monthly until you get feedback.
These are straightforward guidelines, not rules set in stone. Some sales reps will reach out to their prospects indefinitely until they get a response; others will stop at five or six follow-ups. Consider your sales cycle length and target audience to find your sweet spot.
Get your lead to follow-up system in order
Make sure you don’t miss out on any sales opportunity with a partner to grow your revenue. Salescode specializes in helping SaaS businesses develop and implement dependable strategies to achieve their sales targets. Book a short meeting with one of our experts to see how we can support your growth.
With his vast experience in the sales and Inside Sales industry, Julien is globally acquiring new customers and winning projects for Salescode. Mostly engaging in high headcount project bids, he is the first wave of expertise, when working with Salescode. Knowing all global markets he is our go-to-professional for strategy and structure to generate value for our clients.
Click here to connect with Julien on LinkedIn.
