{"id":13558,"date":"2018-03-07T18:38:16","date_gmt":"2018-03-07T18:38:16","guid":{"rendered":"https:\/\/www.process.st\/templates\/upselling-process-for-saas-companies\/"},"modified":"2024-02-28T20:53:07","modified_gmt":"2024-02-28T20:53:07","slug":"upselling-process-for-saas-companies","status":"publish","type":"post","link":"https:\/\/www.process.st\/templates\/upselling-process-for-saas-companies\/","title":{"rendered":"Upselling Process for SaaS Companies"},"content":{"rendered":"<section id=\"introduction\">\n<h2>Introduction:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/sephqQl47oJVqQx6qEJF5w.png\" alt=\"Introduction:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/sephqQl47oJVqQx6qEJF5w.png\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>This Upselling Process for SaaS Companies from <a href=\"https:\/\/www.process.st\" rel=\"nofollow noopener\" target=\"_blank\">Process Street<\/a> has been designed to<strong> guide an account or customer success manager through the process of upgrading an existing customer<\/strong> to a premium tier pricing plan for a subscription SaaS product.&nbsp;<\/p>\n<p>The process is <strong>designed to be integrated with a subscription payment processing platform<\/strong> like <a href=\"https:\/\/zapier.com\/apps\/chargebee\/integrations\/process-street\" rel=\"nofollow noopener\" target=\"_blank\">Chargebee<\/a>&nbsp;so that the completion of the process automatically changes the subscription status of the client.&nbsp;<\/p>\n<p>Upselling customers is one of the most valuable approaches a SaaS company has to both <strong>increasing revenue and increasing customer satisfaction.<\/strong> A successful upsell reveals new value to the customer and wins a greater extent of their growth.&nbsp;<\/p>\n<p>The <a href=\"https:\/\/www.forentrepreneurs.com\/2015-saas-survey-part-1\/\" rel=\"nofollow noopener\" target=\"_blank\">Pacific Crest SaaS Survey<\/a> provides us with <strong>5 key stats about upselling<\/strong> in the SaaS ecosystem:<\/p>\n<ul>\n<li>It\u2019s 68% more expensive to acquire $1 from a new customer than it is to upsell current customers<\/li>\n<li>For SaaS companies, the median cost of acquisition of $1 from a new customer is $1.18. The median cost of acquisition of $1 from an upsell is $0.28<\/li>\n<li>It\u2019s 9x more expensive to acquire new customers than to retain current ones<\/li>\n<li>70-95% of revenue comes from upsells and renewals. Only 5-30% come from the initial sale<\/li>\n<li>The median SaaS company generates 16% of its revenue through upsells.<\/li>\n<\/ul>\n<p>Ready to give it a go? Let's get started.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"first-steps\">\n<h2>First steps:<\/h2>\n<\/section>\n<section id=\"record-important-details\">\n<h2>Record important details<\/h2>\n<div class=\"text-content\">\n<p>Use the form fields provided to record important details.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Account manager - First name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Account manager - Last name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Customer contact - First name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Customer contact - Last name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Client contact number <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Client subscription ID <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"send-an-email-to-gauge-interest\">\n<h2>Send an email to gauge interest<\/h2>\n<div class=\"text-content\">\n<p>The first step in the process is to reach out to the customer you have identified as being a&nbsp;good candidate for upselling.&nbsp;<\/p>\n<p>You can <strong>use the email widget below<\/strong> to make this initial contact.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"record-the-customers-response\">\n<h2>Record the customer's response<\/h2>\n<div class=\"text-content\">\n<p>How did the customer respond to your email?<\/p>\n<p>Record their answer in the form field below.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Is the customer willing to have a phone call to discuss their use of your product? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"send-an-email-to-schedule-the-call\">\n<h2>Send an email to schedule the call<\/h2>\n<div class=\"text-content\">\n<p>Your customer is willing to schedule a call sometime in the future to discuss their use of your product. That's a good start.&nbsp;<\/p>\n<p>Use the email template below to send them a follow-up email <strong>asking if they would like to schedule a call for some time in the coming weeks or months.<\/strong>&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"send-a-thank-you-email-anyway\">\n<h2>Send a thank you email anyway<\/h2>\n<div class=\"text-content\">\n<p>Unfortunately not the ideal response, but that's ok. They may be experiencing some difficulties within their organization or are simply too busy to discuss their usage of software tools at the moment.&nbsp;<\/p>\n<p>Regardless, it's important that you <strong>send them a thank you email anyway <\/strong>for getting back to you&nbsp;and to&nbsp;encourage scheduling a call at some point down the line.&nbsp;<\/p>\n<p>You can use the email template below. It includes a sentence at the end that is intended to capture their attention and potentially reconsider scheduling the call.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"phone-call\">\n<h2>Phone call:<\/h2>\n<\/section>\n<section id=\"prepare-for-the-phone-call\">\n<h2>Prepare for the phone call<\/h2>\n<div class=\"text-content\">\n<p>It is important to thoroughly research the company you are contacting. Understand as much as you can about <strong>their operations and usage of your product<\/strong> before the call.&nbsp;<\/p>\n<p>These are existing customers who enjoy your services; the chances of upgrading are high.&nbsp;<\/p>\n<p>Use the form fields below to record the <strong>date of the meeting, link or upload a file containing company info<\/strong>, and add your notes on where you have <strong>identified opportunities to upsell.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"date-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Date of scheduled call <\/label> <\/p>\n<div class=\"date-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Company info (file) <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Opportunities to upsell <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"begin-conversation-with-a-customercentric-approach\">\n<h2>Begin conversation with a customer-centric approach<\/h2>\n<div class=\"text-content\">\n<p>To upsell successfully to an existing customer, it is important to know their needs and their experience of your existing product.&nbsp;<\/p>\n<p>You can use the form fields below to attain answers to important questions relating to their business and their experience of your services.&nbsp;<\/p>\n<p>If you fail to upsell the customer, you still gather valuable data which can help drive your business forward.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> What motivated you to use our product to begin with? <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> What were your initial use cases? <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Are those use cases still the same, or have you expanded? <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> What could the product do better to allow for greater expansion in the ways you use it? <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> How do you feel about the feature additions\/design changes over this year? <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> In this moment, what would you say are the product's main limitations? <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> What has been the product's biggest successes within your business operations? <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> How would you improve the product, if it was up to you? <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"counter-objections-with-premium-features-capabilties\">\n<h2>Counter objections with premium features capabilties<\/h2>\n<div class=\"text-content\">\n<p>If your customer has mentioned that it would be nice to have more users on their team within the platform, you could explain that the next level of subscription would alleviate that problem.&nbsp;<\/p>\n<p>If there is a certain task which the customer does regularly which would be easier and simpler with the availability of the premium features, then explain those benefits.&nbsp;<\/p>\n<p>Use your rich product knowledge to explain how the next tier of pricing would work for them.&nbsp;<\/p>\n<p class=\"style-warning\">Edit this task to include common objections you receive from customers<\/p>\n<p class=\"style-info\"><strong>Important:&nbsp;<\/strong>As tempting as it may be to sign people up for expensive subscriptions, if they don't need it be honest with them. We can be successful in business without ripping people off.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"ask-the-customer-to-upgrade-and-offer-a-deal\">\n<h2>Ask the customer to upgrade and offer a deal<\/h2>\n<div class=\"text-content\">\n<p>If you don't ask, you don't get.&nbsp;<\/p>\n<p>Ask the customer if they would like to upgrade to the next pricing plan.<\/p>\n<p><strong>Offer the customer your special offer deal for existing customers.<\/strong> Offer the deal whether they had already agreed to upgrade or not. This helps build trust and loyalty amongst your customers - crucial in the world of SaaS.<\/p>\n<p>Use the form fields below to record your progress.<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Will the customer upgrade? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-info\">You can also tempt users to start bigger projects with an <strong>upgrade email full of rich information detailing the value of your premium features.<\/strong>&nbsp;<a href=\"https:\/\/www.appcues.com\/blog\/upselling-prompts-saas\" rel=\"nofollow noopener\" target=\"_blank\">Learn more about that here<\/a>, along with other great tips on how to use tools like Zapier and Dropbox to upsell.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"record-key-takeaways-from-the-call\">\n<h2>Record key takeaways from the call<\/h2>\n<div class=\"text-content\">\n<p><strong>Regardless of the customer's decision<\/strong> to upgrade or not, it's important that you record key takeaways from the conversation.&nbsp;<\/p>\n<p>Think about answering questions like:<\/p>\n<ul>\n<li>Why\/why not they decided to upgrade?&nbsp;<\/li>\n<li>Do they sound satisfied with your product and customer service?<\/li>\n<li>How do you foresee the development of their product usage?<\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Key takeaways <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"final-step\">\n<h2>Final step:<\/h2>\n<\/section>\n<section id=\"enter-the-details-of-the-new-deal\">\n<h2>Enter the details of the new deal<\/h2>\n<div class=\"text-content\">\n<p>If the customer is going to upgrade, enter the details of the new deal here.&nbsp;<\/p>\n<p class=\"style-info\">You can integrate this step with a subscription payment platform like <a href=\"https:\/\/zapier.com\/apps\/chargebee\/integrations\/process-street\" rel=\"nofollow noopener\" target=\"_blank\">Chargebee&nbsp;through Zapier<\/a> to automatically change the Plan ID for the customer.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Enter the new Plan ID <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"send-a-follow-up-email-to-thank-the-client\">\n<h2>Send a follow up email to thank the client<\/h2>\n<div class=\"text-content\">\n<p>Regardless of the outcome of this upselling attempt, it is important to thank the client for their feedback.&nbsp;<\/p>\n<p>If you don't upsell them today, you may still upsell them tomorrow. And they're still a paying customer.&nbsp;<\/p>\n<p>Use the email widget below to thank the customer for their time.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"sources\">\n<h2>Sources:<\/h2>\n<div class=\"text-content\">\n<ul>\n<li><a href=\"https:\/\/www.thebalance.com\/selling-to-your-existing-customers-2917338\" rel=\"nofollow noopener\" target=\"_blank\">Selling to Your Existing Customers<\/a><\/li>\n<li><a href=\"http:\/\/www.customerexperienceinsight.com\/sales-training-ways-to-sell-more-to-existing-customers\/\" rel=\"nofollow noopener\" target=\"_blank\">19 ways to sell more to existing customers<\/a><\/li>\n<li><a href=\"https:\/\/blog.hubspot.com\/customer-success\/upselling\" rel=\"nofollow noopener\" target=\"_blank\">8 Non-Sleazy Strategies for Upselling Your Customers<\/a><\/li>\n<li><span><a href=\"https:\/\/www.appcues.com\/blog\/upselling-prompts-saas\" rel=\"nofollow noopener\" target=\"_blank\">Julia Chen - The 9 Best Upselling Prompts for B2B SaaS Companies<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.cobloom.com\/blog\/when-should-you-upsell-your-saas-customers#\" rel=\"nofollow noopener\" target=\"_blank\">Emily Smith - When Should You Upsell Your SaaS Customers<\/a><\/span><\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"related-checklists\">\n<h2>Related checklists:<\/h2>\n<div class=\"text-content\">\n<ul>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/sales-competitive-analysis-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Sales Competitive Analysis Checklist<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/company-research-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Company Research Checklist<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/sales-to-service-handoff-process\/\" rel=\"nofollow noopener\" target=\"_blank\">Sales to Service Handoff Process<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/sales-presentation-template\/\" rel=\"nofollow noopener\" target=\"_blank\">Sales Presentation Template<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/monthly-sales-report\/\" rel=\"nofollow noopener\" target=\"_blank\">Monthly Sales Report<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/sales-forecasting-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Sales Forecasting Checklist<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/churn-prevention-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Churn Prevention Checklist<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/sales-training-process\/\" rel=\"nofollow noopener\" target=\"_blank\">Sales Training Process Checklist<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/weekly-sales-prospecting-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Weekly Sales Prospecting Checklist<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/cold-calling-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Cold Calling Checklist<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/bant-sales-qualification-call-process\/\" rel=\"nofollow noopener\" target=\"_blank\">BANT Sales Qualification Call Process<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/sales-pitch-planning-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Sales Pitch Planning Checklist<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/closing-the-sale-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Closing The Sale Checklist<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/www.process.st\/templates\/order-processing-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Order Processing Checklist<\/a><\/span><\/li>\n<\/ul><\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Introduction: This Upselling Process for SaaS Companies from Process Street has been designed to guide an account or customer success manager through the process of upgrading an existing customer to a premium tier pricing plan for a subscription SaaS product.&nbsp; The process is designed to be integrated with a subscription payment processing platform like Chargebee&nbsp;so [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":13559,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"cover_icon_emoji":"","cover_icon_url":"","tasks_count":"18","template_description":"Run this checklist when you've determined that a customer has the potential to be upgraded to a premium tier 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