Pitch That helped to Increase SAAS Onboarding by 25%

Vendosmart is a SAAS-enabled Marketplace for custom manufacturing which helps Vendors and Buyers (Manufacturing Companies) collaborate and bring visibility to their organisation to get good quality products at a low price.

CHALLENGE

As we all know getting the initial 100 paying customers is the most challenging job. And now it's our time to face that challenge. After 7 months of hard work, we built the product. Now comes the part where we sell the product.

We started to approach Purchase Managers, CEOs and Vendors. And guess what! most of the companies rejected it.

According to the Buyers, they like the product and it was solving a very crucial problem, but they don’t want to pay for it. They wanted us to sell it to vendors and charge money from them.

And according to the vendors, we should charge the buyer for using the product as they need updates and visibility of orders.

So, Now the conclusion was this- nobody wants to use the product even if it solves a very crucial problem because they can’t see any value for which they want to pay.

SOLUTION

After some interviews and user research, we built a pitch which we used to onboard initial customers. It is HHW(Head, Heart, Wallet) framework.

To sell a product you have to know your customer first. Their motivation, their fears and their goals. For this, we built two personas from the buyer's side because the buyer’s side is hard to crack.

Now we know the user, we can cater to their needs.

Most people take decisions by Head(Logically ), Heart(Emotionally) or Wallet(Pricing). So, we will now target them based on their motivation, fears and goals and answer their Why, How and What.

Q: Why Should they join your platform?
A: Answer them based on their motivation and the goal they want to achieve or trigger their fear.

Q: How you will do that?
A: Tell them what makes you different.

Q: What?
A: Talk about features that ease their life.

Let's understand it by taking the example of our company:-
Q: Why Should they join your platform?
A: BUYER I: We will help you to bring visibility and transparency within the organization that would help you to be ahead of others and help you to optimise your cost.
BUYER II: We will help you to get delivery timely and collaborate with your teammates and vendors that would help you to take better decisions.

Q: How will you do that?
A: We are a tech-enabled vendor-buyer collaboration system that sits on top of your ERP system and allows you to get better visibility, collaboration and transparency so that you can focus on innovation.

Q: What?
A: We analyse your orders and vendors which allows us to give you better recommendations, by the power of visualization i.e graphs and charts that facilitate processing of better decisions.

RESULT

By this framework, we had created a sales pitch that was then distributed and pitched to companies(Buyers) and vendors. This pitch helped us to convert our onboarding by 30% conversion rate.

Today after 3 months we have 300 vendors and 80 buyers on our platform.