Enterprise software has undergone a complete overhaul and far from being insipid and boring, have now transformed in scintillating SaaS products. The rapid development in the enterprise software has now bridged the gap between user experience and the easy way to acquire and utilize the consumer software and apps.
Going by the latest trend of the consumerization of enterprise software, a lot of start-ups are looking out for capitalize on the same by providing SaaS solutions. Although users have positively affected the sales of new application, the IT is still formulating the purchase process.
Startups often find it easy and risk free to market a consumerized customer acquisition model, with emphasis on zero or low touch conversions. However, there is this one word of caution, if you are attempting to compete on the zero or low touch conversions, there is a lot of competition to be wary of. The economies of such sales tend to get a bit dicey and more often than not you may find yourself chasing down far too less customers and spending far too much. It may be devastating for the business house if the customer lifetime value (LTV) comes out to be lesser than customer acquisition cost (CAC).
So what will be the way out when you as a startup find yourself stuck in the middle? If you have been engulfed in the tumultuous situation, provided below are a few strategies to take you out of the so called death zone.
1. Don’t Sell, Get Bought
One of the most intelligent ways to get out of the death trap is by qualifying the right buyers. Prospect those buyers who believe in your offerings. These buyers offer the following benefits –
– Provide you guidance through their buying process.
– Help strengthen the relationships within the organization
– Understand what you need, while you are still learning.
It can be quite a daunting task to locate such buyers but if you are through with the communication and interpersonal skills, you can be just a step away from the prospected buyer. Earlier people used to spend a lot of money in locating these buyers but now a days both buyers and sellers are looking out for such software to streamline the processes.
2. Be Agile
Agility in the selling endeavor does not necessarily mean trying out new things but also encompasses the act of measuring and monitoring the existing processes and ensuring that each process is optimized to yield better results and there is no leakage of productivity at any end.
If you be agile, you save yourself from making mistakes which you otherwise could not afford at later stages.
3. Ask Questions
For success one this is crucial – the right feed back. Thus put your communication skills to some good use and interact with the people and understand what they exactly feel about the product. People from your networks and of course your customers can provide you with crucial information which you require to up grade your product.
4. Be Honest
Beyond anything else, you must maintain a transparency and be honest about what you are, what is the scope and utility of your product and etc. If you manage to remain honest and side by side offer services to make up for the short comings of your product, you does stand a more certain chance to be successful in the long run.
The best customers are those who willingly get into a symbiotic alliance with you and help in achieving the success. It is possible for you to get through the enterprise startup death trap and achieve long lasting success.