5 tips for a recession-proof SME

Small SaaS companies are once again facing challenging macroeconomic conditions. With the specter of a recession approaching, small business owners need to take steps to ensure they engage with their customers and future-proof their businesses.

Achieving this goal is easier said than done. However, the technology has improved so that SMB owners can use tools once reserved exclusively for enterprises. Here are 5 tools that will make your business recession-proof.

Create interactive product demos

Customers have become accustomed to experiencing free trials before purchasing a product. However, it can be difficult to offer customers a free trial. What if your product is undergoing rapid development? Or what if your product’s features are still being tested, leading to unstable demo environments?

Product demos are difficult to run because they rely on live data and potentially unstable environments. If your product breaks during a demo, you can be assured that you will not be called back. The solution is to create a sandbox that highlights the best features of your product. The advantages of such a solution are enormous.

Your sales team can rely on a product demo that never destroys or burdens existing infrastructure. The result is faster uptake of prospects. They can even invite prospects into presentations to explore the platform and provide feedback. The result is faster development and customer focus.

Your marketing team can create an interactive product demo on your website so potential customers can explore the possibilities at their own pace. Since the demo is separate from the existing infrastructure, updating the demo will not strain your resources.

You can improve the customer experience by creating tutorials and explainer videos that make it easy for customers to solve problems and answer their questions. These demos are also useful when training new hires and customer service representatives. The result is a safe and memorable customer experience that keeps prospects coming back for more.

With Walnut, sales teams can quickly create personalized demos that convert. By allowing such customizations, sales teams can tailor the experiences to each individual lead. This platform provides sales teams with all the tools they need without the help of back-end teams. These demos can also be embedded on corporate websites and their click monitoring technology will track important metrics for the sales team to monitor.

Invest in Account-Based Marketing (ABM)

If you’re in the B2B space, you’ve probably dealt with long sales cycles and complex marketing journeys. What if there was a way to increase marketing ROI by targeting the most profitable prospects for your product?

Account-based marketing or ABM is a great way to isolate your most profitable prospects and target them with highly insightful sales pitches. The problem is, it’s hard to get to know your prospect. You have to mine a lot of data and figure out how to target a prospect.

Technology has greatly simplified the execution of ABM campaigns. Most modern platforms help you use ML and AI algorithms to spot trends in customer behavior. They help you use existing customer data to, for example, identify similar prospects who are a good fit for your product.

You should also consider data from website visitors, such as demographics, job titles, and industry. Integrate this information with your ABM platform to provide prospects with a personalized landing page, increase engagement and generate more sales.

A good ABM platform also provides you with a database of key contacts within your industry. Your sales team will spend less time chasing the wrong accounts. Your marketing team can run highly profitable cross-channel campaigns targeting your ideal customers. Make sure your reports link marketing spend to business goals. This way you can justify spending and measure ROI.

RollWorks simplifies B2B ABM campaigns by aligning sales and marketing efforts. The platform uses ML algorithms to identify prospect trends that your sales and marketing team can quickly use to create memorable campaigns.

Simplify product development

Product owners face major challenges when managing small teams. Not only do team members work on multiple tasks at once, but product owners themselves also have to step in and wear different hats. Small business product owners need all the help they can get, and automating product roadmaps and feedback is the best way to reduce their workload.

One of the problems is creating visions across different work philosophies. For example, a Kanban board looks different from a Scrum sprint schedule. Choose a platform that makes it easy to switch between these views.

Be sure to collect feedback from your developers on product development paths. This will align the team towards a common goal. The most important factor in determining development goals is customer needs. Collect data about customer usage and the issues they experience with your product.

Communicate these goals to your team and prioritize solving those issues. Use tree cards to organize these goals.

Chisel simplifies these tasks thanks to a highly intuitive platform that gives product owners all the information they need. Your product owners can quickly absorb market feedback or trends by setting a goal and linking future features to meet the need. Release management is also easy with Chisel, eliminating much of the manual work that product owners experience during that time.

Striving for faster sales reach

Sales reach is essential to building a robust business. When you collect data about your customers, you should use that knowledge to better engage with them. Selling platforms today go beyond hosting huge databases of contacts. Choose a platform that helps you align sales and marketing.

For example, you should have the ability to run demand-gen campaigns from the platform and seamlessly link all contact information together. A good sales outreach platform should also integrate seamlessly with your CRM to provide an end-to-end view of prospects.

It’s also a good idea to integrate customizable web forms that collect different information depending on your prospects. Connect these datasets to your outreach platform and CRM to give you a holistic view of your prospects and customers. As you collect more data, you will have the opportunity to build customer loyalty that will help your business through tough times.

ZoomInfo is a well-known tool that many B2B companies use regularly. It features one of the most comprehensive contact databases available. However, the platform offers more functionality than a contact database. ZoomInfo’s integration with your CRM is seamless, giving you a platform that automates most of the tedious work associated with sales and marketing outreach.

You can import interactions into Salesforce to track your pipeline so you can create relevant conversations with prospects and drive sales.

Capture real-time chat insights

Chatbots are a great way to drive interaction with your prospects and customers. The degree of customization offered by most solutions allows you to create memorable journeys and automate customer interaction. The result is less stress for your customer service teams, which means more time is spent solving high-priority customer questions.

You can also close sales faster, thanks to the automation of most workflows. Create multi-level workflows with your salespeople and reduce their workload seamlessly. Most chatbots come with built-in analytics and data tracking to help you understand the needs of potential customers. You can integrate these insights into customer service workflows to quickly respond to customer needs.

ProProfs’ chatbot solution provides your company with a way to communicate with existing customers and collect highly relevant prospect data.

Many solutions for a recession

SaaS SMBs are facing challenging times. However, the technology is improving by leaps and bounds, giving you many solutions to develop an engaged customer base and build your pipeline.

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This post 5 tips for a recession-proof SME was original published at “https://smallbiztrends.com/2022/06/recession-proofing-sales-process.html”

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