Your competition isn't always what you think it is - it's not just the other SaaS offerings that have a similar feature set or serve the same markets. Instead, April Dunford explains:
"What would a customer do if your offering didn't exist?" Sometimes the answer to that question is "Do nothing."...
In enterprise software, we typically lose 25% of deals to "no decision."
When you make a list of competitors, it's easy to forget that for a lot of people, it's easier for them to just keep doing whatever old, outdated process they already have in place than it is to research, evaluate, buy, and then implement your solution.
In fact, it's even worse than that... April goes on to explain that you won't just ignore "no decision" as competition, but you'll also compare yourself to any and every SaaS offering that does something vaguely similar to your own offering - which means you'll water down your positioning and talk about problems and features that your customers don't really care about.
Write down all the steps that a new prospect would have to go through to learn about your product, then try it, then buy it. At what points in that process are people falling off and choosing "no decision" instead of your product? Write down three things you could do or create that would help them get over that hump.
Example 1: Put your email address into the on-boarding flow of your product, right where the most customers get stuck, and encourage them to reach out if they need help.
Example 2: Look at the content and actual words you use around the trial flow in your SaaS, and make a few changes to make it more sympathetic to new prospects. Buying new software is hard! Make sure the user knows that you are there to help.
Example 3: Send an automated email that goes out 3 days after the start of a trial, asking if there is anything you can do to help.
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