When you're selling a B2B SaaS product to a prospective customer, there are a lot of checkboxes in their mind that you need to fill. Building a great product isn't always enough, because the customer is also wondering whether your product is going to fit into their software stack, whether your product is worth the price that you're asking for it, and whether there are other people using your product, among other things. In this video, Ralph, one of the co-founders of Collatebox, explains what checkboxes you need to fill in order for a customer to buy your B2B SaaS product and continue to use it for years to come. SECTIONS
01:20 Checkbox One: Does This Product Meet a Core Need?
03:45 Checkbox Two: Does This Product Fit into a Stack?
08:18 Checkbox Three: Is This Product Worth the Price?
10:31 Checkbox Four: Is This Startup Reliable?
14:10 Checkbox Five: Are Other People Using This Product?
Checkbox One: Does This Product Meet a Core Need?: If your product doesn't meet one of the customer's core needs, you might as well not build that product. The worst thing, says Ralph, that can happen to a SaaSpreneur is that they build a product that falls into the "nice to have" category instead of the "must have" category.
Checkbox Two: Does This Product Fit into a Stack?: Building a product which integrates into the customer's software stack can encourage a customer to purchase your SaaS product, and it can also increase customer retention!
Checkbox Three: Is This Product Worth the Price? Pricing your SaaS product appropriately is actually very important. If you price it too low, customers might think that it isn't a serious business product. If you price it too high, they won't be able to justify buying it, even if it does meet one of their core needs.
Checkbox Four: Is This Startup Reliable? B2C SaaS startups come and go, and consumers are used to it. Businesses, on the other hand, think long and hard before buying a B2B SaaS product, because they need reliable support, and they also don't want the SaaS product to disappear because the startup that was providing the SaaS product failed.
Checkbox Five: Are Other People Using This Product? Businesses don't want to burn their fingers being the first to use a product. Untested SaaS products are often full of bugs which can hinder a businesses productivity, and so business owners typically look to see if other companies are using the product before purchasing a SaaS product. SaaS startups can make use of websites like Product Hunt to get some early adopters to use their product before they start selling it more seriously.
We hope that you enjoyed hearing Ralph's advice on selling your B2B SaaS product. If you did, please make use of the links below to learn more about Ralph, his company CollateBox, their product Userships, and the websites mentioned in this video.
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