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A Rep's Guide to Using SaaSPay to Close More SaaS Deals
SaaS Selling

A Rep's Guide to Using SaaSPay to Close More SaaS Deals

A Rep's Guide to Using SaaSPay to Close More SaaS Deals
Few days back

Want to sell a Netflix subscription? Show your prospects the trailer for Season 5 of Stranger Things and watch the subscriptions sell themselves.

Want to sell an enterprise solution with a six-figure annual plan? Be prepared to set up personalized campaigns, manage multiple discovery calls, showcase your demo to different stakeholders of the same enterprise, and build a POC.

But that’s the name of the game, right?

What if we told you that you could accelerate every step of your sales cycle by adding just one thing to your stack? Want to know more?

Let’s start by understanding more about SaaSPay and how it lets you close more deals.

Introducing SaaSPay

SaaSPay is India’s first Buy Now, Pay Later solution designed exclusively for SaaS sales. It gives SaaS businesses a way to extend an 8 to 12 month of payment flexibility to their annual subscribers.

SaaSPay pays you; the seller on the buyer’s behalf and allows them to break the expense into smaller chunks to be paid back later in flexible bullet payments.

We accomplish this by maintaining a 24-hour window of allocation of a notional credit line for the buyer and subsequently pay you the full amount within 24 hours of the transaction. With such rapid turnarounds, SaaSPay is your perfect catalyst to extend your runway with a positive cash flow.

And best of all, you can avail this service without any membership fee, you are only billed a nominal MDR for the transactions that take place on your checkout through the SaaSPay.

How does SaaSPay transform your sales cycle?

1. Use SaaSPay as a Prospect Eliminator

Despite what your training handbooks say, some prospects are just not good enough. Some of them are just shopping for quotes, conducting research for the next financial year, or just curious about your core competencies. Or sometimes they just don’t fit into your target persona. The only common trait, right from the first point of contact, will be that they know they will never become a paying customer.

But since you can’t rely on a hunch, use SaaSPay as an eliminator.

So instead of hearing “We don’t think we can afford the annual package at this stage” after weeks of back and forth, you can use SaaSPay as a prospect eliminator.

Introduce SaaSPay’s flexi-pay functionality in your initial conversations. Present it as an alternative to the requirement of upfront cost for the annual subscription. If your prospect still feels that your pricing will be a major bottleneck for their acceptance, then you can consider focusing on other qualified leads.

With SaaSPay you don’t have to resort to exuberant discounts to close deals.

2. Get an Unfair Advantage in RFPs

Whenever your prospect releases an RFP, it sets forth a race to the bottom. The game is already rigged against you. If you don’t provide discounts, you run the risk of a drop-off. But if you do consider providing discounts, then as per enterprise standards, you have to provide discounts in the range of 20-60%. This would undoubtedly remove a major chunk from your overall deal size.

But with SaaSPay, you get a way around this.

While all your competitors are busy figuring out a proposal with the lowest quote they can offer, you can focus on accentuating your core competencies and letting SaaSPay's flexi-pay option take care of their cost apprehension.

This shift in positioning realigns the focus entirely to your competitive edge in terms of functionality and provides them the peerless incentive to get these offerings at a reduced upfront capital.

3. Bundle Bigger Deals with Lower Upfront Cost

When your customers are already apprehensive about the upfront cost of your product, your chances of bundling additional functionalities are slim. But with a flexible payout option like SaaSPay, the add-on fees become a long-term expense that they have to pay off months later.

So you can advise your sales team to include SaaSPay in their proposal and position your offering as an easily accessible offering. Further, you can break down the ROI of the additional functionalities vis-a-vis the additional monthly cost to show them the value proposition. It is a known fact that whenever you present a deal with a favorable ratio of immediate investment and return, you have a higher probability of closing the deal.

Use SaaSPay to successfully bundle add-on functionalities to your annual subscription plans and extend your runway with every deal.

4. Close 6 Figure Contracts with No Discounts

If you’ve worked on the sale of a mid to high six-figure contract, you’d have dealt with multiple stakeholders of the same enterprise. In most cases, discovery, formal vendor comparison, and discussion over the core competencies of your product are done with the “deal driver” or the “project owner." However, they are usually not in charge of the budget.

Once your recommendation is shared by the project owner, usually the VP/VSP responsible for the financial negotiations takes over. Their primary goal is to reduce your quote to the best of their ability. Reiterating your functionalities that they were already privy to won’t move the needle in your favor. But with SaaSPay, you can give them a flexi-pay option as a measure to meet them halfway.

In the End

Outside of the aforementioned three instances, you can close more deals by using SaaSPay to effectively resolve every potential bottleneck caused by pricing issues. So what are you waiting for? Take your first step towards accelerating your sales cycle and join our seller’s waiting list today.

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