Look, I’ve had a big, flashing, neon SaaS sales quota on my back for years.
Trust me, I know what it’s like trying to hit those numbers and forecasting sales that don’t happen. It’s not pretty.
But there are a few tips and tricks you can try to crush your quota.
7 Tips – How To Hit SaaS Sales Quota
Sales leadership love setting sales quotas that their sales teams might find hard to get to. This is their job after all – maximize revenue and the sales performance of every rep.
But that can add a ton of extra stress on us, right after the holidays as well – no consideration!
With a little planning and using our sales experience, we can get there. Here are the tips I have found useful whilst being a sales rep to hit those (often crazy) SaaS sales targets.
Tip 1: Know Your Customer Inside Out – Get in Their Heads
I can’t say this enough. You wouldn’t go on a date without knowing a little bit about the person, right? I wouldn’t anyway, scary stuff!
Same logic here.
Get to know your ideal customer – their needs, pain points, and motivations.
Spend time on this. Do not skip it.
Trust me, once you know what makes them tick, you can tailor your pitch, build a solid rapport, and win them over most times.
This will instantly help you hit your sales quota. Try and be the best at this in your sales team.
Tip 2: Tech Up Your Sales Game – Don’t Get Left Behind
Let’s talk tech.
It’s all around us and new sales tools are hitting me in the face every day.
But with the productivity and AI sales tools that are hitting the mainstream these days, it’s the weapons you need to get some time back and help you get to your sales quota.
Want 100% sales quota attainment? Embrace the tech
CRM software, sales analytics – these aren’t just fancy words. They are game-changers when embedded into your sales process, period.
The right tools will not just make your job easier. They’ll change the way you sell, forever.
Don’t have any sales tools?
Then, my friend, it’s time to have a chat with your sales manager. Push for better tech. Make your case. Because, in the end, everyone benefits.
I needed some better tech. Alright, it just looked cool and I could afford it.
I bought a digital business card to amp up my networking at events. I hate fumbling around for a pen, stacking up business cards that are usually dog-eared somewhere, or getting coffee spilled on them.
But now, no more lost business cards or any paper in sight. It was all there, digital and sleek.
And, an AI-powered note-taking app changed my life. Well, not quite but it’s pretty sweet.
Now I walk into a meeting, set the app going (ask permission first!), and just focus on the conversation. The app does the rest. I use Otter.ai which is the image above.
Not a scribbled note in sight, no time wasted on typing up meeting summaries. The app had it all covered and even served it up all nicely summarized.
It was a game-changer. I could just listen. Just listen.
So, here’s the thing: don’t always wait around for the tech to come to you. Seek it out, use it, it’s your quota at the end of the day and your responsibility to get there.
Tip 3: Flaunt Your Social Proof Like a Pro – Be an Influencer
In the SaaS sales world, social proof is your new best friend and is a hot currency.
Us sales folk don’t have a website or manage marketing channels – our domain is different.
We live in a world of presentations, making cold calls, thinking of the perfect cold email subject line, and finding suitable follow-up content.
Get social proof from anywhere and everywhere – ask your customers for it, and build testimonials, case studies, stats, and anything else you can. It all helps when you have a touchpoint with a prospect.
Tip 4: Understand Your Comp Plan Inside Out – Work Smart
Understanding your compensation plan is non-negotiable.
SaaS compensation plans can be tricky beasts, full of nuances and tiny print. I was selling multi-product for years with different rates, accelerators, and multipliers, and it was a tough one to get my head around.
Then there’s the ARR factor – the annual recurring revenue. It’s the hot new thing in SaaS comp plans these days. And let’s not forget about the split between software vs services.
Yes, your compensation plan can be as difficult to understand as crypto and blockchain (which is way over my head!)
So, what do you do once you’ve wrapped your head around your comp plan?
Here’s where the magic happens.
Draw up a plan – a sales map. This map is going to guide you on the easiest route to hitting your quota.
Let’s say there’s a product or service that is 2x comped, and you get accelerators.
Well, bingo! That’s your golden goose. Focus on that.
Or maybe you have a services quota you think you can knock out of the park? Then take aim and shoot for that, while keeping your software number on the radar of course.
See, understanding your comp plan isn’t just about knowing the details, it’s about strategizing. It’s about leveraging those nuances to work smarter, not harder.
This is then the foundation of your sales plan. Get this part right, and you’re halfway to hitting your quota.
Tip 5: Lead Generation – Your Secret Weapon
Lead generation, folks.
It’s the lifeblood of any sales role. For us SaaS account execs, it’s a non-negotiable. Too many of my sales managers and even sales leaders have bashed this in me over the years. It hurt, but I got it.
It’s like an engine. It needs constant fuel.
Let me tell you this – don’t ever, and I mean EVER, back off lead generation. Your call blocks? Sacred. Don’t let anything encroach on them. It’s one of those sales activities you just have to do, at all costs.
Always be prospecting – here’s why
Picture this: You need to close 100 deals, with an average value of $50k.
Simple math tells you that’s a cool $5 million you need to bring in that year. Now, how do you get there?
Let’s break it down.
You know from your experience that 60% of your qualified leads end up signing on the dotted line. Not too shabby, right?
Next, you know that 40% of your cold calls turn into meetings. Yep, that’s a little trickier.
But let’s be realistic. Not everyone picks up the phone. From your call list, only 35% of those dialed will answer.
So, here’s the magic formula:
- You need 100 deals
- Given a 60% closing rate, you need about 167 qualified leads (100 divided by 0.60)
- With a 40% success rate from cold calls to meetings, you need to make 417 cold calls (167 divided by 0.40)
- Considering a 35% answer rate, you need to dial about 1,192 numbers (417 divided by 0.35).
Let’s round it up, so say you need to make 2,000 calls to hit quota. I like to add 10% – call me skeptical.
So 2,200 calls. You’ve got your number.
Now, you could panic, or you could do what all successful SaaS sales reps do:
Break. It. Down.
I like to do it weekly.
- 2,200 calls divided by 52 weeks is roughly 42 calls a week.
That’s manageable, right?
Every Tuesday, I hit 2-hour call blocks, one in the morning and one in the afternoon – NON-NEGOTIABLE. That’s my Tuesday – living the dream, right?
But no matter how much fun you have (tongue in cheek right now), your lead generation will be steady, your sales pipeline will be solid, and that daunting $5 million sales quota? It’s looking a lot less scary now, right?
This right here is the secret weapon in your sales arsenal.
Tip 6: Foster Long-term Relationships – The Lifeblood
You know this but sales isn’t a sprint; it’s a marathon.
It’s not about being the quickest out of the gate. It’s not about the one big win.
It’s about the long haul.
Here’s the deal.
- It’s about relationships. And not just any relationships, long-term ones. The ones that stick, that make you memorable.
I’ll say it loud and clear – Building relationships has been the absolute cornerstone of my success. And it’s not rocket science. It’s about being human, being you.
- Listen, truly listen to their needs
- Be there, always, offering top-of-the-line service
- Give lots, ask for nothing (until you really need something)
And what you’ll get in return is nothing short of gold: customer loyalty and repeat sales.
And don’t forget that people move on. They change companies. Often to similar roles. And when they do, they bring their relationships with them.
So, a relationship forged today could be your foot in the door at a whole new company tomorrow. I have used this to win RFPs that turned out to be slam dunks. People love to buy from people they like and trust!
That’s the power of relationships in sales. That’s how you make hitting that SaaS sales quota not just possible, but repeatable.
So, if you want a pro-tip from someone who’s been there, done that – don’t just sell, connect.
Because in sales, your relationships are your lifeline.
Tip 7: Persistence and Adaptability – Your Sales Power Duo
Let me be real with you: sales is a rollercoaster.
Ups, downs, loops, you name it – and sometimes, you’re holding on for dear life.
But here’s the thing: Adaptability and persistence are your seatbelts.
These two aren’t just words. They are your allies and best friends.
- Sales not going well? It’s time to tweak the strategy.
- Something isn’t working? Drop it. Like a hot potato.
- Sales manager giving you hassle? Hit the red button (well maybe not but you know why I said it!)
It’s all about being fluid, changing with the tides.
Then there’s persistence, right?
When you’re in the trenches, quota looming ahead, you need to dig your heels in and push through.
Persistence is your fuel, it’s what keeps us going.
And I know from personal experience – nothing can stand in the way of a truly persistent sales rep. We can be real animals when it hits the fan.
So, embrace the rollercoaster ride that is sales. Buckle in with adaptability and persistence.
And remember: Every twist and turn brings you one step closer to hitting your revenue quota.
What is a SaaS Sales Quota?
A SaaS sales quota is a specific goal that a sales team aims to achieve within a certain period. SaaS sales quotas are usually defined by a particular revenue amount, new customer acquisition, or other key performance indicators (KPIs).
Is my SaaS sales quota realistic?
To decide that you need to take into account the market conditions, the level of competition, and the historical sales data of your company. Or maybe even your own performance along with peers. Also, factor in the size of your team and market split. It will be a case-by-case on this one! But one thing is for sure, AI sales tools can massively help to answer this question.
What strategies can I use to hit my SaaS sales quota?
Strategies will differ based on your product and market, but focusing on consistent sales qualification, customer retention, upselling, staying current with industry trends and practices, and building a strong brand identity are some commonly successful strategies that can work wonders.
How can I keep motivated if the sales quota seems unreachable?
Break down your sales quota into smaller, manageable sales goals. Celebrate small victories, seek mentorship, and trust me on this one, don’t forget to take care of your mental health. Health comes first, always!
How important are long-term customer relationships in SaaS sales?
Long-term relationships are vital for SaaS sales as it’s a subscription-based model. So if you want the renewal, you need the relationship to make it happen.
Alright, let’s wrap this up. SaaS sales success? It’s not just about the strategy. Nope. it’s about so much more.
It’s about persistence, adaptability, and execution. It’s about having the grit to stand tall when the ride gets tough. It’s about putting the work in. Doing things others won’t. Like building account maps or taking a call from someone at midnight that’s the other side of the world.
These seven tips? They’re your secret weapon.
And here’s something to remember: Every ‘no’ is just a stepping stone to that sweet ‘yes’.
So, here’s to your journey. May the sales be ever in your favor. And if you want to get ChatGPT into your workflow – that can save you a stack of time too!