Competition, uncertain times, changing preferences of customers – these are some of the things that affect the sales of software companies. That is why you need to adapt and be flexible with their marketing strategies if you want to see an increase in your profits.
Adapting and being flexible do not necessarily mean creating a new strategy (although that applies from time to time). It simply means utilizing tools and strategies that have the most potential in engaging the key decision makers of their target market.
Here are some examples from different tech brands for increasing software sales:
Offer more to your existing customers
According to studies, you’ll be able to save five times more money when you retain customers than when you look for new ones. You can do so by consistently providing value to them.
It’s true that gaining new customers is equally important to your company’s lifeblood, businesses sometimes overlook their existing customers to please the new ones.
Remember, you have already established trust with them so it is easier to test a new feature or product that would add value to what they already have from you.
The classic example of this is none other than Apple. They started offering desktops but now they have created an ecosystem of electronic gadgets and accessories that complement each other.
Lead filtering using analytics
Filtering your leads using analytics help you segment your prospects and visitors so you can create a more personalized marketing strategy for each of them. When you segment your leads, you avoid angering or annoying people who might not want the content you’re sending. What you gain, on the other hand, is you will be able to talk to the right people at the right time with the right content.
Indian software solutions company, Freshworks, have used this strategy and they were able to capture both the US and European markets since 2010. Now, more than 130,000 organizations from around the world are using their products.
Incorporate a free trial to your sales strategy
Free trials can be a bit tricky but if done right, it can help you generate more sales.
So how can you use free trials to your advantage?
According to Close, free trials should not exceed 14 days. It’s long enough for them to explore your product features but not too long for them to abuse its use. More so, studies reveal that most people use free trials not more than three days. If people are really serious about buying your product, they will spend money on it.
To further drive conversion, you can emulate what BigContacts did by integrating their free trial offer with a more prominent pricing page. Aside from that, they gave their prospects a full access to all features of their CRM during the free trial phase. As a result, there was a 76 percent increase in their free trial sign-up.
Educate your customers
This was what Slack did to grow their business to what it is today and create an entire software category. Originally created as a game company, Slack discovered that there’s a need for a seamless and efficient communication tool among team members. After creating that tool, they educated their ideal customers convincing them that they really needed Slack.
Furthermore, they focused on improving their key features – search synchronization and file sharing. When their customers saw how these features helped their teams, it caught like fire and their demand grew.
Create meaningful and strategic partnerships
International money transfer service, TransferWise, was able to grow themselves within a short time by forging meaningful partnerships with different kinds of people and businesses. At first glance, these partnerships might not make any sense but they know better.
Take a look at their partnership with Le Figaro, France’s oldest daily newspaper. Why would a money transfer service partner with a national newspaper?
With a large readership in France, the newspaper became their voice in educating people about the lack of transparency in international transfers and exchange rates. With a trustworthy institution backing them up, people soon took notice. At present, TransferWise has $4 billion worth of transactions every month.
There’s no one-size-fit-all strategy to gain more sales. If you look at each of the companies mentioned above, they invest in research until they find what works for them. However, you can start with the tips we have above and move forward to discover your own strategy.