It’s the start of the year again.
Most people look forward to New Year’s Day to establish their goals and aspirations for the following year in the hopes of becoming better versions of themselves. The same mentality and focused intensity can also be integrated into business growth.
There is no perfect strategy at the beginning of the year than to reflect on and reassess your company’s plan and goals for this year.
Some reflection can include asking questions such as what revisions or adjustments you need in your business plan for this year or even reflecting on last year’s resolutions to see if they were fulfilled.
And while reading this, you could be mulling over some New Year’s business resolutions in your mind.
But if you don’t have one, then it’s time for you to make your New Year’s business resolution to help you stay on track throughout the year.
In the SaaS landscape, New Year’s business resolutions are frequently focused on company objectives and success.
So, if one of your goals is to scale your business this 2022, you should make New Year’s resolutions for your company which can help you improve your business objectives.
And to help you contemplate, we’ve listed the top 7 New Year’s resolutions to help you scale your SaaS business:
1. Enhance your CRM data
Streamlining internal procedures, enhancing productivity, and improving efficiency is probably at the top of every business leader’s New Year’s resolution list this year.
But few leaders realise that the solution rests in their CRM.
One of the goals of a SaaS business is to create that perfect integration between human experiences and digital solutions. However, poor integration is the most prevalent problem for organisations when executing these hybrid experiences.
And to create a more seamless experience this 2022, you should identify the right tools or applications that can integrate with your CRM to execute your marketing and sales goals this year effectively.
2. Utilise customer personas across your organisation
Because consumers are at the heart of the SaaS industries, customer personas are frequently utilised in their marketing and sales teams.
Several studies have linked the adoption of personas to higher levels of engagement and revenue.
And according to usability.gov, customer personas are employed as a technique in interaction design to give a feeling of realism through the user’s consideration.
Yet personas have been misinterpreted and exploited over the years due to their abstract nature. This is the most significant hurdle to the widespread acceptance of personas.
But how can you know which message will appeal to the demands of your target market if you don’t have personas?
To address this, you should implement customer personas throughout your organisation, as they can help you develop customer-centric products and services and uncover pain points and evaluate your marketing strategies to scale your business in 2022.
And to learn how to adapt your customer personas to your growing business, visit Adapting your customer personas to your growing business
3. Reduce Your Customer Churn Rate
The ultimate business goal of every firm is to expand its user base and raise its revenue. But that’s not always the case.
There are days when companies acquire customers and days when they lose their customers.
The typical churn rate in the SaaS industry is roughly 5%, while a good churn rate is defined as 3% or below. However, there is no such thing as an average churn rate because this varies so much across organisations.
Now, according to HubSpot’s 2021 State of Inbound report, over half of the businesses say that generating leads and improving customer satisfaction will be their top marketing priorities this 2022.
And according to Bain & Company, a 5% increase in client retention may boost revenue by 25% to 95%.
I know that the struggle is real to keep existing customers around. Still, with a proper customer success plan, there are ways that you can reduce your company’s churn rate – such as examining the causes of it, evaluating customer engagements, identifying at-risk users, paying attention to customer complaints, and seeking their feedback about your products or your services.
It’s not that easy, but I’m sure that with proper execution of your customer success tactics, you can reduce the churn rate in your company this year.
4. Simplify Your Onboarding Process
The most crucial aspect of your company’s operations is onboarding new staff.
This approach sets the tone by introducing new hires to the company and equipping them with the skills they’ll need to succeed in their new positions. Many businesses, however, lack a standardised digital onboarding procedure.
Unfortunately, onboarding is your company’s first impression on new hires, so you need to impress them with a seamless onboarding process.
According to the 2019 Jobvite Job Seeker Nation Survey, 24% of candidates abandon an application process due to system faults, while 29% of employees quit within the first 90 days of employment.
This is important to know because, according to Glassdoor, a good onboarding process boosts new employee retention by 82% and productivity by more than 70%.
I understand that employee onboarding isn’t a one-step procedure that can be simplified with a play-by-play guide. But when you streamline your onboarding process in your organisation, I can guarantee you that this year, you’ll be able to manage a range of typical issues that arise during the onboarding of your recruits.
5. Enrich Your Sales Culture
Your organisation’s success is determined by its sales culture.
How productive sales professionals are, how much they sell, how long they’re retained as employees, and how involved they are with the sales organisation’s general objective are all essential elements of a good sales culture.
However, many managers are still unsure how to put it into practice despite knowing the value of a sales culture.
What you need to do is to enrich your sales culture to produce excellent results for your company.
Inquire about your sales team’s attitudes towards each other and work, as well as their passions and motivations to do a better job. Coaching will drive their personal development and improve how they execute throughout the sales process. Simple things like these can help your company’s sales culture improve.
Remember, it’s not easy to create and maintain a healthy sales culture, but it may significantly influence your employees’ happiness, which leads to your business growth throughout 2022.
You can also explore the importance of creating a coaching culture in your organisation.
6. Align Your Marketing and Sales
Marketing and sales alignment is a common system of communication, strategy, and goals that allows marketing and sales to work together as one.
Teams that are aligned operate more efficiently and get greater results.
Despite this, many businesses still struggle to align these departments. Misalignment of sales and marketing may be disastrous for a company, especially one attempting to expand fast.
This is when sales enablement enters the picture. Sales enablement is one approach to integrating sales and marketing.
With sales enablement, it can enable your businesses this year to provide a better buyer experience, unify sales and marketing teams, and empower salespeople to be more effective and productive in 2022.
Here are the reasons why your business needs sales enablement.
Also, learn how to align your GTM strategy to scale your SaaS business properly
7. Make Sales Efficiency a Priority
So, you’ve put yourself in an excellent position to succeed in 2022.
The question is, how do you know you’re going to get there?
Generating more sales is only a part of the equation to grow your SaaS business.
Having an effective salesforce through enablement with the proper marketing, tools and coaching is crucial. However, there’s another factor that many business owners overlook, and that’s sales efficiency.
Sales efficiency is the key to increasing sales and optimising your sales process so that you can close more deals faster.
Remember that you can put this on top of your list for your New Year’s Resolution this year as sales efficiency is becoming the top priority of SaaS businesses to close more sales and receive the best ROI on their sales efforts.
You’ll learn more about sales efficiency by reading our blog about everything you need to know about operations and enablement.
Ready to create your own New Year’s Resolutions?
I know that you’ve learned about the things that you could possibly put to your New Year’s Resolutions list to scale your SaaS business.
But how about taking it to another level? Well, I can help you with that.
Have a FREE 30-minute session with me to talk more about taking your business to the next level!
About Ellivate
Ellivate is the expert partner helping organisations and their go-to-market team’s scale.
Our powerhouse team of industry experts – with a combined 60 years of experience across the fintech, corporate and technology spaces – will work alongside your business to achieve your goals.
We have a shared passion for working with businesses to achieve rapid growth and apply an authentic, human layer of expertise that addresses the real challenges and concerns at the heart of your business.
We will work alongside you as a trusted and expert partner. We get in the trenches and ensure every solution is embedded within your business.
