While this may sound easy, finding new customer acquisition opportunities in the crowded SaaS industry can be quite a challenge.
This is where optimizing your SaaS conversion funnel can help you quickly grow your SaaS business. However, the conversion funnel is often misunderstood and confused with the sales funnel at times.
That’s why it’s important to break it down into stages. This helps you figure phone number user finder philippines what data to look at and what to optimize from your existing sales processes to get better conversions.
The SaaS conversion funnel consists of the following stages:
Awareness: This is the stage where customers are just becoming familiar with your brand.
Engagement: This part of the funnel is where you attract potential customers into your acquisition funnel, educate them, and be a resource.
Exploration: This is the final stage of the acquisition process before prospects become customers.
Retention: This is the post-conversion stage, when potential customers have already become customers and the goal is to retain them so that they remain paying customers.
Importance of a SaaS conversion funnel
On the path to a purchase, customers will reach several different touchpoints as part of their customer journey. How you deliver content, ads, and other brand communications to your target audience will have an effect on how those prospects will convert.
Often, you'll find that no matter how big or effective your business is, there is at least one location that is a choke point in your consumer acquisition funnel.
Obstructions represent qualms that your target customer base may have when it comes to purchasing your SaaS. Addressing these objections and resolving them at the appropriate touchpoint in the funnel is extremely necessary for engineering conversions.
Optimizing your SaaS funnel will help you identify these obstacles so you can reach more buyers, convert more leads, and sell better.
1. Identify the target user persona
Target personas or buyer personas help you understand your customers’ needs and identify who they are and how to reach them more efficiently. Creating your buyer persona doesn’t have to be a difficult task for an upcoming digital marketing or email marketing campaigns .
A few tips on who your ideal customer should be is all you really need to narrow down your options and identify them. For SaaS companies that want to boost their business in a powerful way, it’s best to start by asking yourself the following four basic questions.
What problem are they trying to solve?
What product features are most important to them?
What objections are they most likely to raise?
What is your purchasing process?
Once you have the answers to all of these questions, you'll have a buyer persona ready to target and be in an attractive position to dominate the market.
2. Integrate Chatbot to filter potential customers
Converting a marketing lead to sales and purchase is often a matter of persistence or luck; however, even that requires a prospective buyer willing to buy your service or at least consider it. As such, qualified leads are the best option to achieve a high conversion rate for SaaS sales teams. Serving qualified leads often means less time is spent on unqualified leads.
Fortunately, with the burgeoning wave of AI solutions, there are many options today to help sales teams separate bad leads from good ones. A chatbot is one such solution and it is smart enough to respond to leads and filter them based on their value and potential.
chatterbot
These bots can also handle customer queries simultaneously about your service or product and assign a lead score to the potential customers based on your existing lead scoring system. These bots then filter the leads based on their score and hand over the eligible leads to the sales reps once the lead has shown that they are willing to move further down the funnel.
Not only does this ensure that less qualified leads are kept in the funnel for further nurturing, but it also wastes less time for sales reps who would otherwise have been chasing a futile attempt to convince an unwilling prospect.
3. Shorten the sales cycle
While it’s an old saying, time really does equal money. And the easiest way to optimize your sales funnel is to close the deals you have faster. The shorter your sales cycle, the less it will cost you to close a deal, the faster it will help you learn, respond, and improve, and consequently, the more successful you will be.