B2B SaaS companies and the problem with lead qualification...
Apparently, if you're a (B2B) SaaS, odds are that your conversion rates are about 2%-4%.
Apparently, this is extremely apparent when it came to talking a B2B SaaS about conversion rates. They had 52 signups but it was an uphill battle when they had to go through 1,300 free signups in order to get to the amount.
I am considering on fixing the problem of lead qualification.
I am getting some responses on this.
One comment was, "Sales rarely needs automated qualification because that's lazy as shit or that their territory needs to be cut down"....however, we're talking about B2B SaaS companies.
I am interested in know what your problems are when it comes to lead qualification. This seems like a problem where you can waste time, money, and resources by "accidentally marketing to the wrong lead....and there's only 4 successful princes for every 100 frogs you have to kiss.
The first thing you need to do is define what is a qualified lead and what is an unqualified lead. Sometimes it can be company size, it can be location, software they use, or anything that is usually required to get value from your product or service.
Then just add a field onto the form with this question, so as leads come in, you can filter through them based on the criteria you're looking for. You will get fewer leads by doing this but you should see more qualified leads this way.
That does make sense to have a criteria in place.
Obviously, there needs to sales development team involved. However, how do you add a criteria in plan? I know that this is a broad question and that the criteria is largely dependent on the industry.
For example, you work in the Telecom but you only get 4% conversions because the keywords you use are shared with the B2C market.
One solution is to focus on the top-funnel aspect and generate traffic to your SaaS to counter this problem.
Percentages seem about right.
My main B2C SaaS is not far off those figures though to be honest we have zero lead qualification or sales effort, it is almost 100% organic.
Our free tier gains a lot of signups outside our target market, most of which drop off because we don't solve their needs, with a high percentage of suitable signups upgrading to paid plans.