A SaaS Startup’s Journey to 500 Demos Part 1: The ProcessPosted on 26 Oct
Part 1: The Process
Over the last 2 and half years, we have driven over 80% (84% to be specific) of our revenue through an outbound + inside sales efforts.
The process has been pretty straightforward, we use LeadSift to track our competitors and hot industry topics to get a list of companies showing intent signals delivered straight to our inbox every morning.
Then based on the buyer persona, we segment, personalize and put them in an outbound email sequence using Outreach.io.
Full disclosure: we do not personalize every email, we try to follow the 10-80-10 rule.
From the emails; the prospects either request more information or ask for a product demo or ignore us🙁
Now while the cold outbound email process works well (we have over 120 customers across the globe), we have decided to change things up a bit from a customer acquisition process. It is prompted by a couple of factors:
a) Our competitors are much bigger companies with way more resource and spend a lot of time in Field Sales, Events, Paid Media; so we will HAVE to try something different to get in front of our prospective customers
b) to be completely honest we are getting a bit embarrassed with the whole “cold” outreach process, where we are constantly reaching out to people instead of them inquiring about us :/ (N.B. we are NOT going to stop our intent based outreach process)
So to start with our new growth marketing/sales strategies we have internally decided to set some MicroMilestones. As Peter Drucker said “What gets measured, gets managed …”, we have set our target as 500 product demos in the next 6-months.
There are a few reasons behind choosing 500 Product Demos as the Milestone:
a) It seems like a tangible milestone (albeit a stretch), given where we currently are and where we want to go
b) it supports our overall revenue goals but is abstracted from the $$
c) And finally, every Product Demos for us is an opportunity to win a new customer and/or learn about the problem and increase our knowledge of the market.
Being inspired by folks like Adam Schoenfeld, Alex Turnbull et. al documenting their growth journey, I have decided to document all our growth marketing experiments/strategies we will implement in the coming months to achieve our Customer Acquisition Goals.
We are in the same place as many other startups; who are all trying to go to the next stage, competing against bigger competitors, with limited resources.
My hope for doing this publicly is primarily to provide a commentary for other SaaS businesses in a similar stage trying to get to that next level whether it be the elusive $1M+ ARR or 100 customers.
I will reveal all our experiments, tactics, our wins and our fails backed with real data.
Or As DMX puts it,
This here is all about
My wife, my kids, the life that I live
Through the night, I was his, it was right, but I did
My ups, and downs, my slips, my falls
My trials and tribulations, my heart, my balls.
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