EPISODE SUMMARY
With the rising trends in the SaaS industry, many companies are adopting a fast-paced business environment. That is why in this episode of SaaS Story in the Making, B2B SaaS Sales Coach Matt Wolach talks about the common problems in a SaaS business and provides a unique solution to every single one of them. He also announced a new venture where he would take this journey with you–where all SaaS founders can learn from and apply these experiences to their businesses.
PODCAST-AT-A-GLANCE
Podcast: SaaS-Story in the Making
Episode: Episode No. 215, “How This SMS Marketing Service Can Solve SaaS Problems”
Host: Matt Wolach, a B2B SaaS sales coach, Entrepreneur, and Investor
TOP TIPS FROM THIS EPISODE
Increase Close Rates
Did you know that email open rates are declining as years go by? It has gone from 28% to 24%, and this year, it is only at 21%. If you are a SaaS company that constantly sends emails for promotion, there is only a 21% chance that your customers and prospects will open it. It stays in the inbox, or worse, straight into the trash. You and your team worked hard for those campaigns, but the average rate is not doing you any justice. The best option there is to change channels.
Texts have a 98% open rate. It displays a considerable difference with emails that businesses should leverage because customers and prospects want to talk to you. Some studies show that 52% of customers prefer texting as their primary source of communication, and 65.4% think it makes communication easier. With these numbers, SaaS companies should learn to strengthen customer relationships through text messages.
Improve Your Communication with Your Buyers
Text messages can be acknowledged faster, but it is also a way for you to respond and build a relationship right away. Fast response to queries means speedier closing time. Conversions go up to 900% if you can communicate within the first one minute. When you reply fast, combined with the high open rates of text messages, you can keep your prospects engaged, and the deal is closed in no time.
However, if you are a company that uses this tool, you would not want your team to be using their phones to talk to customers. Because then, you have no control over the messages or campaigns sent, the stage where the customer might be in, and the customer’s preference or messages. When you lose an employee, you will also lose a prospect or customer that they work with. This is why Torowave has a dashboard where you can go through every conversation or new inquiry, and you can instantly answer it or have someone assigned to respond. This way, everything is mapped and documented, and every query is attended to.
Shorten Your Sales Cycle & Reduce Churn
Many companies are having problems with their sales cycle and churn rates. The former is getting longer as time goes by, while the latter continuously increases. Fortunately, a business text service such as Torowave can help with it.
Both of these problems are caused by the delay in communication between the business, the prospect, and the customer. Whenever prospects are at your website, scanning through your services, they will always have questions. They want to reach out to you. But what is stopping them is either only a chatbot is available, or they have to wait for a few hours for your response. Torowave has an available text messaging widget placed on your website where you can answer instantly through text. As the exchange of texts goes on fast, you can secure a closed deal. Hence, a shorter sales process.
When it comes to high churn rates, texting your customers builds a stronger relationship. But, you can also simply send out a text about the renewal of their memberships, which appears more pleasant than emails. Aside from that, the message can be opened and recognized faster. You wouldn’t have to worry about sending out reminders to your customers.
EPISODE HIGHLIGHTS
Business Texting Service
Recently, Matt bought a SaaS company, a business texting service. It offers a marketing strategy focused on carrying out marketing campaigns through SMS. With the tough competition in the industry, there should be a tool that effectively employs your company’s strategy uniquely that appeals to your market, and here it is.
Torowave (formerly RingBot) is a business texting service that allows you to strengthen customer and prospects relationships through messages. It can send marketing campaigns to multiple users or be able to interact with them one by one. It is a system where you are in control of outgoing messages and incoming inquiries and be able to answer them directly.
A business texting service lets you be on top of things, especially when it comes to your sales process and marketing campaigns. But more than that, it can significantly impact the long-term development of your business.
Loving the Game
Matt bought a software company, but that does not mean he will stop coaching SaaS founders. This new venture is about his love for the game being in SaaS. Having a company grow is an opportunity to make it the best it can be.
It is where he can have a system where he can provide value, get people on board, and scale the company well so that there is a good exit in the future.
Over the years, he has known the models that work for software companies to grow. It is now time to apply it in Torowave and see how it will go.
Sharing the Journey With You
Coaching and giving value to other founders is important to Matt. This is why he is going to share the journey at Torowave. He will be sharing everything in the process: the things that go well, those that do not, and how they can fix it. This is for you to have a guide or a process to follow and apply to your business. You only need to follow Torowave’s social sites, message Matt, and stay tuned with updates. You can also get a FREE 7-Day Trial to test out the software and provide feedback on how it helped you.
Join this FREE SaaS Webinar
On Thursday, Matt, Barret O’Neil, and Sahil Bloom will host a webinar called $1 Million Referral Roadmap. They will talk about how to get a ton of referrals for your business without doing much. All you need to do is sign up. It is a free webinar to help you get fast responses from your prospects and boost referrals.
TOP QUOTES
Matt Wolach
[10:23] “Customers, prospects, they love you when you respond quickly, and you do it out of hours. If you do it after hours, they will be over the moon about how amazing your services and that service can take you to the next level.”
[17:56] “Improve your communication with your buyers. It’s going to increase your close rates, decrease your sales cycles, and make sure that you are living the dream of reaching your goal.”
LEARN MORE
For more about how host Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com/.
Get your business texting service FREE 7-Day trial at http://torowave.com/trial.
