A lot of entrepreneurs have flourished on the back of giants like Xero, Sage, FreeAgent and Quick Books, opening up their software to cloud adopters through Add-On marketplaces. The logic is sound, thousands of Accountancy Software customers are ready and waiting for Add-On’s to help their business grow with seamless integration to their finances.
After working with a number of Add-Ons and Accountancy Software providers, helping them grow exponentially in the UK & European markets, I’ve picked up a few things along the way. So here are some pointers to help you convert those ‘warm’ leads into paying customers.
Know the ‘fit’: You will have no doubt created your business to solve a problem or to help businesses do something better. Whatever that might be, make sure that you and your team keep this at the front of your mind. In a market where your target audience are easily accessible to both direct and indirect competitors, you need to set yourself apart by knowing exactly what problem you’re solving and where you fit within the customer space. In each interaction with a prospect you should be asking questions that help them to help you…
When working with entrepreneurs, I’ve found that they can often get a little overzealous when pitching to potential customers about their new business (which is by no means a bad thing!). But by knowing the fit, you can avoid that trap by asking the right questions, that way you can get in to a position where they have told you their current challenges and all that’s left to do is for you to connect the dots.
Outline a Sales Strategy and Processes: Sales is the lifeblood of any business, so defining an effective strategy is essential to ensure you have a constant sales pipeline. Your strategy will of course pivot and adapt as you grow, but these three points will give you solid base to start approaching new prospects:
A typical customer interaction will take place between the 5th and 12th point of contact, but 92% of sales people give up after four no's. Be persistent, but not intrusive.
- Start by setting up an email campaign, making sure every email is Engaging, Relevant, Concise, Topical & Actioned.
- Write your call blueprint, selling is always about asking the right questions. These should be tailored around the prospect, helping them to realise their own problem.
- Nail your demo. The easiest way to learn more about your future client is to engage them over a Webex demonstration. It’s an easy call to action in your initial call and gives you a controlled opportunity to engage and interact whilst allowing your software to do the most talking.
Personalise your messages: Knowing the difference between selling directly to businesses or ‘indirectly’ to accountants is essential. You can of course do both but there are some key differences to be aware of.
- Accountants have a vested interest in ways that save them time, thus allowing them to dedicate more effort into either finding or working with new customers.
- For businesses, your sales strategy should directly relate to their business goals. The main reason businesses integrate accountancy software is so they can intelligently use financial data to make their lives easier. Therefore, you should highlight the financial benefits of the solution as much as possible, be that through more transparency or tangible savings.
If you’re in the process of setting up your own sales process or just want some advice on the best way to approach your target market, I’ll be at Accountex in May, and would be happy to meet for a quick coffee! Alternatively, you can reach me in the office or via ashley.vallance@durhamlane.co.uk or connect on LinkedIn anytime!