How The Best SaaS Sales Teams Are Improving their Sales Closing Percentage

The end goal of every salesperson is to close the sale.

Every day, a sales rep is trying to make it their goal to be successful.

But despite all of the focus on diversity, it is still one of the biggest issues for teams. In fact, 36% say that closing sales are their most challenging part and 28% think they should be made a priority.

Why is that?

Some businesses don’t invest in nurturing relationships. Others fall victim to misaligned processes.

The CSO Insights report shows that the percentage of sales reps attaining quota has gone down over a 5-year period from 63% to 53%.

sales closing percentage

It’s clear that there is room for improvement in closing sales. We all know this, but it seems like we need to work on improving our process.

The companies are constantly innovating to improve their sales closing percentage.

Here are some best practices for hiring diverse employees that have been successful with other SaaS companies.

To answer the question, we looked to a few SaaS companies that are mastering this challenge of high sales closing percentage.

Need Help Automating Your Sales Prospecting Process?

LeadFuze gives you all the data you need to find ideal leads, including full contact information.

Go through a variety of filters to zero in on the leads you want to reach. This is crazy specific, but you could find all the people that match the following: 

  • A company in the Financial Services or Banking industry
  • Who have more than 10 employees
  • That spend money on Adwords
  • Who use Hubspot
  • Who currently have job openings for marketing help
  • With the role of HR Manager
  • That has only been in this role for less than 1 year
Just to give you an idea. 😀

5 Solid Ways to Improve Your Sales Closing Percentage Today

  • Providing qualified leads to our sales team.
  • Salespeople should focus on customer service, not just making a sale.
  • Providing the right resources and information
  • Communicating in person or over the phone is more effective than communicating online.
  • I have been analyzing my sales team’s demos for a while now.

Providing High Qualified Leads to Sales Teams with Extremely Relevant Content Assets

The sales process is just that, a process. It all starts with leads and the better your lead generation strategy, the more likely you are to close.

SaaS sales teams face two major challenges when it comes to leads.

The first challenge is that sales reps have to work on the front lines before they can close any deals. So as a result, many of them end up wasting time prospecting or doing data cleanup instead of closing sales.

Another problem with MQLs is that they are not always clear on how much value the company has for them. Sales reps might waste time following up with prospects who have not yet reached the conversion stage of their funnel.

Marketing teams can share e-book downloads as a way of qualifying leads.

Mark Roberge from the Harvard Business School says that this is a wrong way to look at leads. He says it’s more of an “investment” than just one-time sales.

He says that his argument is based on the following points:

sales closing percentage

Roberge says that demo requests are different than ebook downloads. He is right, an ebook download may be easier to generate for the marketing team but it doesn’t have as much value to the sales team.

The solution Roberge proposes is that the marketing team be tied to a quota for revenue, not just leads. Instead of being tasked with generating X number of leads, they should have a target amount in mind as well.

Sales and marketing are the most important parts of a business, but they have to work together.

What are some ways marketing teams can create assets that drive relevant leads? Here’s a few ideas:

  • It’s important to encourage customers who are happy with your products or services, and it can be done by encouraging them to leave a review on sites such as G2 (formerly known as G2 Crowd) and Capterra.
  • Case studies help prospects make a decision faster. They are insightful and provide the information needed to convert.
  • Product Documentation: Develop a product manual that offers clarity to customers who are still unfamiliar with your product.
  • Bottom-of-the-funnel content needs to be more interactive, in order for people that are not looking at it to become interested.

Video marketing is important for companies like LeadGenius, because it’s a key component in their strategy to attract more leads and conversions. William Wickey, who used to be Senior Manager of Content and Media Strategy at LeadGenius now VP of Growth at Crowdbotics said:

“We’re able to see that a high percentage of visitors who watch the video (6.9%) go directly to requesting a demo.”

Giving salespeople qualified leads is only effective if the company can tie a lot of value to those leads.

This article is a good resource for understanding the benefits of auditing your sales content library and how to do it effectively.

Making Your Sales Pitch Customer-Centered

Most sales reps follow a script for their conversations with potential customers.

I thought that using a script would work, but after the first few successes, it backfired because people want to hear from real humans.

Here’s some proof:

ContactSPACE is a call center software that lets you create scripts to guide your employees. One client found an increase in contacts per hour after moving away from static scripts, while another client saw a decrease in the time it took to handle calls.

Talking about the product and its features without listening to their pain points is a bad sales tactic.

Prospects won’t want to work with you if they don’t see the value in your offer.

Juliana Crispo and conducted a study to help sales reps with better tactics for closing prospects.

sales closing percentage

Juliana Crispo found that the top three findings from her study were 1. Employees who have been with an organization for a long time are more likely to be promoted than those who just started out, 2. Organizations need to create programs that promote diversity and inclusion within their work environments, 3. Companies should stop using standardized testing as a way of deciding whether or not someone will get hired.

Let your customer talk for at least 4 minutes. Article:  2. Have a conversation about what they want to be doing in 10 years.

If a potential customer is able to talk for over 4 minutes, there’s a higher chance of winning them as a client.

We have a 2 minute time limit for talking about our company.

If you pitch your company for more than 2 minutes, there is a very good chance that the prospect will walk away from what they heard.

I find that when a competitor is mentioned before the demo, it’s usually because they are impressed with my sales pitch.

It’s actually better to mention the competition early on in a sales process. The probability of getting an offer goes up by 49% when you do this.

Keep your pitches focused on the customer, not just about how great your product is.

This article talks about how to find your customer profile and why it’s so important.

Equipping Sales Teams with the Appropriate Tools and Data

Sales reps need to offer a good experience. They not only push the buyer to look at the product, but they also ensure that future customers will be happy with it too.

It’s not always about the sale; sometimes it’s just making sure you make a good impression.

But there is a problem with this. Sales teams can only do it if they are equipped with the right tools and data.

The problem with these two factors is that either the teams don’t have enough data or they lack the right tools to elevate a sale. In other cases, both of those things are missing.

Salesforce found that high-performing sales teams are more likely to base forecasts on data, but only 46% of sales reps have access to customer purchase history.

sales closing percentage

To ensure a positive prospect experience, SalesRight can help you at both levels –– with in-depth analytics to close the deal.

With this type of tool, a sales rep can easily see which features and price points the prospect is interested in so they know what to talk about.

Sales reps can also get real-time notifications on lead activity, so they know when to follow up with them.

The goal is to make the entire process for prospects pleasant, even when they are in contact with sales reps.

sales closing percentage

This data can be helpful when making decisions on the phone with potential buyers who are hesitant about certain topics.

Using a Customer-Preferred Medium of Communication

For B2B SaaS companies, the best way to close a sale is by communicating in your customer’s preferred medium.

In order to get the most out of your customers, you have to learn how they like to communicate. This is an easy way for improving sales closing percentage.

Housecall Pro communicates with their customers via text messages. Roland Ligtenberg, the company’s Co-founder and SVP of growth shared his insight on how it can be used for closing sales.

“I find that SMS is a great tool to use for quick, simple messages. It’s often less time-consuming and more efficient than making phone calls.”

The company was able to better connect with their customers and increase the number of contracts they were signing by 15%.

Proactively Analyzing the Demonstrations of the Sales Team

It’s important to have a good demo in order for the sales process to move smoothly and efficiently.

To improve your close rate, you can listen to recordings of demos and give feedback.

Managers can coach reps by giving feedback when the opportunity arises. Sharing this information will help reps understand their win rates, forecast accuracy, sales cycle length and revenue produced.

When Drew Hamilton, the chief sales officer at Kareo (a medical technology company), tried this tactic to improve his close rate, he was able to get a better understanding of what worked and what didn’t. He also got insight into how he needed to course-correct.

The company’s sales increased by a significant amount after hiring women and people of color.

Bottom Line

There you have it.

It’s important to have a strategy in place before you start working towards your goals for the next quarter. Here are some of our ideas on how sales teams can improve their rate.

Selling is difficult, and one of the best ways to improve sales month on month is by adopting better strategies.

> Marketing teams need to develop compelling lead magnets in order for their sales team to be successful.

Selling is difficult, which is why sales reps need to focus on the customer and arm themselves with data.

It’s going to take some time, but as a SaaS business, you need to do everything possible in order to improve your sales closing percentage.

Your competitors are always implementing better strategies, and if you’re not doing the same then you’re losing ground.

Need Help Automating Your Sales Prospecting Process?

LeadFuze gives you all the data you need to find ideal leads, including full contact information.

Go through a variety of filters to zero in on the leads you want to reach. This is crazy specific, but you could find all the people that match the following: 

  • A company in the Financial Services or Banking industry
  • Who have more than 10 employees
  • That spend money on Adwords
  • Who use Hubspot
  • Who currently have job openings for marketing help
  • With the role of HR Manager
  • That has only been in this role for less than 1 year
Just to give you an idea. 😀
Editors Note:

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Justin McGill
About Author: Justin McGill
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