Dan Martell - December 03, 2018


How To Qualify Your B2B SaaS Leads Using These 6 Filters


Episode Stats

Length

10 minutes

Words per Minute

194.99258

Word Count

1,973

Sentence Count

80


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 Hey there, Dan Martell here, serial entrepreneur,
00:00:01.760 investor and creator of SaaS Academy.
00:00:03.340 In this video, I'm gonna teach you how to qualify
00:00:06.480 your B2B SaaS leads so you don't spend time
00:00:09.000 with tire kickers and people that frustrate you
00:00:11.420 and folks that were never gonna buy anyways
00:00:14.180 and instead get deals closing faster.
00:00:16.180 And be sure to stay to the end where I share with you
00:00:18.120 a framework called my Rocket Demo Builder.
00:00:20.720 It's a five principles to deliver incredible sales demos
00:00:24.220 and includes the call flow that I use
00:00:26.560 to close deals twice as fast
00:00:28.060 and not give a boring product demo.
00:00:43.300 So one of the biggest challenges when you're trying
00:00:45.300 to scale your sales is making sure that you have somebody
00:00:49.020 doing an SDR role.
00:00:50.620 So I coach a ton of SaaS founders that sell SMB and mid-market
00:00:54.380 and enterprise products and they have SDRs in their companies
00:00:57.340 that are either qualifying inbound leads
00:00:59.440 or doing outbound qualifying and then kicking him up
00:01:01.680 to what's called an AE or an account executive
00:01:04.320 to do the demo.
00:01:05.680 The thing that they need to do first
00:01:07.880 is making sure that they've defined
00:01:11.080 what makes a qualified lead and walk them through a process.
00:01:14.020 I'm gonna share with you guys what I've learned,
00:01:16.400 not only doing thousands of sales calls myself,
00:01:19.320 selling millions of dollars of software
00:01:21.100 and making sure that I, even though
00:01:23.940 I was trying to close something,
00:01:24.900 I wanted to make sure that I was talking
00:01:26.440 to the right person but more importantly helping hundreds of
00:01:29.840 other software founders build this competency and strategy
00:01:33.820 into their business.
00:01:34.840 Here are the six ways to qualify a SaaS lead.
00:01:39.320 Number one, funnel filter.
00:01:41.560 So the first thing you wanna do when you're doing any kind of
00:01:44.200 lead gen is think of the, and I have a whole video on defining
00:01:48.460 your ideal customer profile so I'm not gonna get into that.
00:01:50.740 You can search it and find it on my channel.
00:01:52.760 But if you have lead generation campaigns going on,
00:01:56.540 some demand marketing stuff, what I call the attract phase
00:01:59.200 of your SaaS growth engine, then you wanna make sure that you
00:02:02.200 add those funnel filters to the submission form.
00:02:05.500 So usually it's things around role, industry size or revenue
00:02:10.280 size and number of employees because between those things,
00:02:14.720 you can kind of figure out if they're even qualified to talk
00:02:17.320 to from a pure customer profile point of view.
00:02:20.680 So make sure that if you have opt-ins for lead magnets
00:02:24.060 or webinar registrations or even maybe you want to put it on
00:02:27.280 your free trial sign up, funnel filter those people before they
00:02:31.660 get into your system so that you can easier qualify them.
00:02:35.920 Number two, behavior.
00:02:38.200 The beauty of today's world is we can literally track the
00:02:41.960 customer's interaction with our website.
00:02:44.740 I call this the click stream.
00:02:46.200 It's just a fun way for me to think about it is that if
00:02:48.940 somebody becomes an opportunity in our system,
00:02:51.440 I can actually go look at their history using,
00:02:53.880 there's so many different tools.
00:02:54.980 So I'm not gonna talk about the tools per se,
00:02:56.480 I just wanna talk about the process.
00:02:57.980 You can Google it.
00:02:58.920 But monitoring or looking at all the different pages
00:03:02.060 they visited on your website before they actually signed up
00:03:05.720 for a trial and or downloaded that lead magnet.
00:03:08.000 And so when you're talking to them,
00:03:09.400 you get so much more context.
00:03:11.520 They visited your pricing page.
00:03:12.900 They looked at your about page, that's a great one.
00:03:14.800 They looked at these specific blog articles on your website.
00:03:18.000 That information is deadly to help you understand is have,
00:03:22.500 do they know enough information about the business for you to
00:03:25.000 assume that they're qualified or do you need to kind of step
00:03:28.180 back and kind of reconnect with who they are and kind of what
00:03:31.340 they know about the business and start there to build that
00:03:33.680 connection.
00:03:34.560 Number three, challenges.
00:03:36.260 How immediate is their requirements to solve their
00:03:39.520 problems today?
00:03:40.620 They have frustrations or something going on where they
00:03:42.860 don't feel like either the information's flowing properly or
00:03:46.200 it's costing them too much money to accomplish something
00:03:48.800 or somebody's not being tracked properly
00:03:51.180 and they wanna solve that problem.
00:03:53.080 What your job is to figure out is how to qualify.
00:03:56.340 How immediate is their challenge is to resolve
00:04:00.140 in the business from a timing point of view
00:04:01.880 to know that it's something that's a now thing.
00:04:03.720 If you think of a market, okay,
00:04:05.420 like this is the coolest thing ever.
00:04:07.580 Like, I'm not saying that jokingly, it's pretty neat.
00:04:09.760 You have a thousand potential customers.
00:04:12.300 most people are in market for probably two months
00:04:16.500 throughout that window.
00:04:17.600 So if you think you have a thousand potential customers,
00:04:19.740 if you start January, February, and it's kind of like
00:04:22.200 a lens that kind of goes across those thousand customers
00:04:25.320 throughout the year.
00:04:26.280 In January, February, that whatever it is,
00:04:29.420 18%, 16% of the market is gonna be in market.
00:04:33.120 And as you move across the timeline of that year,
00:04:36.900 a different, out of the same thousand,
00:04:39.620 these people are no longer in market
00:04:41.200 and these ones are ready and they're in market.
00:04:42.960 So that's just the way I think about it.
00:04:45.200 Two months window and I want to figure out is what their problem,
00:04:49.000 their challenges they're dealing with today,
00:04:50.380 is it a now thing or a later thing?
00:04:52.040 Because really I'm trying to find,
00:04:53.720 if you call it a thousand people in the market,
00:04:55.280 I'm trying to find the ones that are ready to buy today
00:04:58.180 and if not, they're not qualified.
00:04:59.820 So just think about that mental model next time about,
00:05:02.380 hey, there's a window, it's 12 months,
00:05:04.420 it's scanning, you know, two months,
00:05:06.260 it's a different group of people.
00:05:07.300 And that's why marketing works so well.
00:05:08.700 You could have stuff, you're like,
00:05:09.820 well, these people had already heard about that.
00:05:11.920 Those people aren't even paying attention
00:05:13.600 to your marketing anymore because they've either decided
00:05:16.160 it wasn't a priority or moved on to another solution
00:05:18.660 or they got fired.
00:05:19.760 So literally, you can send the same message in the market
00:05:22.260 because the group of people that are in market
00:05:24.560 ready to buy today from a timing point of view is different.
00:05:28.480 Number four, the role.
00:05:30.500 Are you talking to the decision maker?
00:05:32.780 Now, it doesn't mean that if they're not,
00:05:36.180 if they don't have the ability to buy
00:05:37.880 that you just hang up the phone
00:05:39.520 because you want to figure out they could be a champion
00:05:41.520 and that is probably the most important.
00:05:42.820 If you're doing mid-market or enterprise deals,
00:05:44.460 you want to find that champion inside
00:05:46.700 which is kind of like the driver of the deal
00:05:51.300 versus the economic buyer
00:05:53.000 because somebody might be the person
00:05:54.500 that decides what they're going to spend
00:05:56.700 but somebody else could be your inside supporter
00:06:01.340 to help give you some kind of insights
00:06:03.180 into what needs to happen to actually move a deal forward.
00:06:05.520 So to me, it's really important to figure out
00:06:07.380 what is the role that that person,
00:06:09.680 and obviously you can check on LinkedIn
00:06:11.180 and it's actually pretty much standard practice
00:06:13.180 if you ask them and it's public information
00:06:15.880 that you're kind of not doing your job.
00:06:18.320 But I think you can go deeper into kind of like,
00:06:20.660 how do decisions get made?
00:06:22.000 How have you been involved in other decisions just like this?
00:06:24.400 What software have you bought in the past six months
00:06:28.900 to solve a business challenge?
00:06:30.400 Just to kind of get an idea of how their involvement
00:06:33.440 is perceived in the organization to make a decision
00:06:36.740 to buy a solution like yours.
00:06:38.440 Number five, authority, very similar to the role
00:06:41.640 but it's really just trying to qualify the economic buyer.
00:06:44.420 Do they have authority to make that purchase
00:06:47.180 or maybe they have authority to spend up to maybe $5,000
00:06:51.180 without having to get budget approval
00:06:52.620 or trying to go through the whole process of,
00:06:55.600 you know, getting a PO or whatever.
00:06:57.420 You might want to just figure out how to change
00:07:00.240 what you're selling to address their challenges
00:07:02.440 and bring the price down to still get the buyer.
00:07:04.140 So at the end of the day, you want to figure out
00:07:06.040 what their level of authority is.
00:07:07.300 Because maybe it's not to do the bigger deal where it's more
00:07:09.880 of an enterprise rollout but they might be able to buy a POC,
00:07:13.980 a proof of concept.
00:07:15.020 And this is where I see a huge opportunity for a lot of my
00:07:17.880 clients in the mid-market or enterprise space to figure out
00:07:21.660 what would a lower cost POC, proof of concept,
00:07:24.220 to deploy within that organization you're already
00:07:26.560 talking to that the person can actually make a decision
00:07:29.060 around what would it look like so that you can move the sale
00:07:32.360 forward even if the person doesn't have the authority.
00:07:35.400 So that is number five, how to qualify.
00:07:38.500 Number six, product fit.
00:07:40.740 At the end of the day, they have problems they need to solve
00:07:44.100 and you're asking yourself,
00:07:45.440 does my solution solve those problems?
00:07:48.080 And more importantly, how well does it align
00:07:50.980 with their challenges?
00:07:52.420 Because the way I think about selling any product,
00:07:54.820 think about this, the customer's standing
00:07:56.480 at the bottom of a mountain.
00:07:57.760 At the top of the mountain is the results or outcomes
00:08:00.920 or success they want to achieve.
00:08:03.260 And at the bottom of this mountain,
00:08:04.600 there's a row of vehicles of essentially change.
00:08:08.340 There's different types of vehicles.
00:08:09.900 There's, you know, mortar bikes and four-wheelers and Jeeps
00:08:13.500 and dune buggies and all these different,
00:08:16.120 there's rock climbing gear and there's all these different
00:08:18.440 vehicles of change that can help them get to the top of
00:08:21.980 that mountain and your job is to sell your specific vehicle.
00:08:26.960 So, because at the end of the day they could buy your solution
00:08:30.000 or somebody else's so what you're trying to do is make sure,
00:08:33.720 and this is upfront qualifying,
00:08:35.420 is that what they're trying to achieve,
00:08:37.320 that that mountain is best suited for your vehicle
00:08:40.600 because at the end of the day,
00:08:41.560 you don't wanna spend two months, three months, six months.
00:08:44.200 I've seen some of my clients spend up to a year and a half
00:08:47.840 thinking they're gonna get a deal,
00:08:49.400 planning their business around this big enterprise deal
00:08:52.580 only to find out that at the beginning,
00:08:55.000 the solution they were building
00:08:56.240 and the customer's challenge were not aligned
00:08:58.480 and somehow that was missed
00:09:00.080 and they only figured it out at the end.
00:09:01.740 It is heart-wrenching to see and it happens all too often
00:09:05.940 because they didn't qualify that specific alignment
00:09:09.520 at the beginning.
00:09:10.580 So real quick, six steps to qualify your B2B SaaS leads.
00:09:14.420 Number one, funnel filter.
00:09:16.520 Number two, the behavior on your website.
00:09:19.020 Number three, challenges.
00:09:21.160 Four, the role.
00:09:23.060 Five, authority.
00:09:24.960 And number six, product fit.
00:09:27.600 As I mentioned at the beginning of this video,
00:09:28.740 I wanna share with you the Rocket Demo Builder.
00:09:30.900 Essentially, it's a nine box model, a conversation flow you
00:09:34.100 can use to double your sales conversions.
00:09:36.740 I also cover the five key principles of having a Rocket
00:09:40.380 demo, number two is amazing, the virtual close.
00:09:43.420 I think it'll really serve you and more importantly, you want
00:09:46.680 to not have boring demos so click the link below.
00:09:49.780 You can download your copy of that today and if you like this
00:09:52.480 video, be sure to click the like button.
00:09:54.500 Subscribe to my channel if there's anybody you think it
00:09:56.600 can serve, feel free to share it with them directly as per
00:09:59.700 usual, I want to challenge you to live a bigger life and a bigger business and I'll see you
00:10:03.100 next Monday.
00:10:04.100 Am I wearing the same shirt?