3 important resources for subscription sales
Subscription sales teams will be effective only when they have the right resources to supplement conversations with potential customers. In today’s competitive SaaS and technology markets, many people are much savvier than ever before and require concrete examples and accurate data to feel comfortable making a decision.
1. Customer knowledge
Because subscriptions are built on recurring relationships with your customers, a clear and comprehensive understanding of their needs, wants, and motivations is paramount. The sales strategy required to win over a small business owner will be drastically different from the strategy required to convince an experienced CTO of your subscription’s value.
When you’re just starting out, this information can be difficult to find. You’ll have to make assumptions based on your personas and existing customer data in your industry. As your company matures, you’ll be able to reach out and survey existing customers as well as prospects with more targeted inquiry.
The more data you have at your disposal, the more accurate your decisions will be.
3. Market data
Both B2C and B2B companies need to understand the market conditions for their industry. Is it growing quickly or slowly? Who are the incumbents? How do they sell their subscriptions? Understanding these questions can provide valuable context to shape your own company’s subscription sales strategy.
A lot of this data can be gathered during your positioning and product-market fit research. When you understand how the various different players in your market sell their subscriptions, it provides your own sales team with more context to use when speaking about the benefits of your own product.
4. Use cases
Your sales team will be more effective when they can provide concrete examples of how your product helps other businesses achieve their goals. Build out use cases based on your customer and market research to showcase how valuable your subscription is for existing customers.