πŸ”† What motivates the ICP of your SaaS solution?

What’s your win rate? …..20%

It’s an answer I get a lot – when I ask that simple question.

And the odd thing is – I get the feeling some SaaS vendors feel it’s pretty OK.

Until I flip the answer: So, you’re losing more than 80%.

Then there’s silence……

When you’re losing more than 80% of the business you think you should win (why is it otherwise in your pipeline), you lose more than just 4 out 5 deals.

  • 80% of your precious marketing budget (and possibly more)
  • 80% of your sales execs’ precious time (and possibly more)
  • 80% of the precious time of your pre-sales team (possibly more)
  • and a lot of margin (not even including the 3 bullets above)

When I then ask, “How long has this been going on” – the typical answer is something like, “What do you mean? That’s the average. Been like that for years.”

I question out loud: Why? Why are we happy ‘winning’ 20% and shocked when we realize ‘we’re losing 80%’?Β 

So how do you flip the situation?Β 

A simple question to raise is this one:Β 

What’s the secret inside the 20%?Β 

You will realize that the answer is rarely of demographic or firmographic nature and almost always one of worldview and psychographic nature.Β 

Key takeaway: No matter how much you lose, the opportunity is to get serious about the motivations of the small % that does bet on you.

 

Question for you to reflect upon

When was the last time you challenged the definition of your ICP?

 

Be Remarkable

 

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