Qualifying Leads And Saas Retention
My SaaS company Automizy helps companies with lead gen, free trials, signups, and onboarding procedures by automating their processes. SaaS companies often struggle with sales and marketing, and that’s where we come in.
I want to talk to you today about your funnel strategy and a five-step system for lead generation that I’ve created.
User churn is a big issue if you want to achieve high growth. The root problem of retention begins with how you’re acquiring clients.
The place we need to focus on to solve this problem is lead qualifications. The better your leads are qualified from the start of the relationship, the longer they’re going to stick around as your customer.
It doesn’t matter what you’re providing in terms of add-ons or customer support, these clients will eventually bail on you.
How An Inverted Funnel Works
The inverted funnel is actually nothing fancy! You don’t have to spend time overthinking it, but it does help you create a seamless marketing funnel that leads your prospect to the next logical step.
You don’t need to sell them, instead, you’re offering them the option to upgrade. There are three stages to this piece of the funnel: your core product offer, your buyer-converter offer, and the hooks.
First, you need to look at your core product, and how it connects to your buyer-converter product. Then the content strategy needs to connect to that so they can all work together.
As a business owner you need to figure out how to turn all these into a simplified framework. By focusing on our core product first we can identify our ideal customer profiles easily, and work backward to our buyer-converter product to lead them in.
A tricky product
The buyer-converter product can be tricky for some people. This product is created by isolating a stand-alone feature from your core product that solves a specific pain point of a customer profile and can be offered cheaply to the market.
The purpose of this product is to turn your leads into paying customers even at a very low price point. If you can convert your leads into paying customers at any level the relationship has been radically changed from when they weren’t paying anything at all.
It’s much easier at this point to then offer them the upgrade to the core product.
The inverted funnel takes advantage of a psychological hack that breaks down the resistance to your more expensive offer in the customer’s mind by first getting your foot in the door with the buyer-converter product.
- Create your core product that solves a customer pain point, isolate a buyer-converter product from the core product that you can offer at a low price point.
- Your marketing should focus on this core pain point and each part of your funnel should be aligned around it.
- Don’t sell your customers, simply offer them the option to upgrade to your core product offering.
Result You Will Achieve
Get customers in the door with a low price point product that then can be upgraded to your core product offering.
This article is based on an EHQ interview with the mentor.