The Startup Chat with Steli and Hiten on Smash Notes

The Startup Chat with Steli and Hiten podcast.

Unfiltered insights and actionable advice straight from the trenches of startup and business life. The show hosts, Steli Efti and Hiten Shah, are both serial entrepreneurs who have founded multi-million dollar SaaS startups. Being busy CEOs of fast-growing companies, they know the value of your time and make sure you get the most out of each 22 minute episode. Tune in for new episodes every Tuesday and Friday.



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In today’s episode of The Startup Chat, Steli and Hiten talk about how to do sales when you’re a self-service product.


When done right, the self-service model can be a great way to sell saas products. Leads come through your funnel, sign up for a trial and upgrade to a higher tier without you lifting a finger or hiring an expensive sales team.


In this episode, Steli and Hiten share their thoughts on what exactly the self-service model is, how to optimize your website for it, mistake that saas entrepreneurs make when it comes to optimizing for sales and much more.


Time Stamped Show Notes:


00:00 About the topic of today’s episode


00:40 Why this topic was chosen.


02:22 How sales is approached at FYI.


02:50 Optimizing for sales at FYI.


03:27 An example of how to optimize for sales.


05:50 A mistake that saas entrepreneurs make when it comes to optimising for sales.


06:41 Why treating a free trial like a freemium product is a good idea.


07:41 Best places to optimise for sales.


07:55 Why you should invest in copywriting.


08:39 The importance of having great copy on your website.


3 Key Points:


You wanna find the opportunities of getting people to pay by pushing some buttons.

The more incentivized they are in using the product, the more incentivized they are in buying it.

Are there things you can provide people to accelerate the timeline of them paying you.


 


 


[0:00:01]


Steli Efti: Hey everybody, this is Steli Efti.


 


[0:00:03]


Hiten Shah: And this is Hiten Shah. And today on the startup chat we're gonna talk about how to do sales when you're a self service product. So we had somebody ask you that, is that it?


 


[0:00:15]


Steli Efti: Yeah, somebody sent me an email and basically said that they're a huge fan of the podcast. We love you back. Thanks for listening. And that he's been reading a ton of my content and has been enjoying it. But asked basically, hey, can the two of us talk about how to think about selling and sales and how to optimize for sales, where you don't have a sales team and you don't want to reach out to customers. He has a self service SAS product that is very inexpensive, that's kind of very focused on consumers let's say. And he was saying, how does he use some of these tactics of sales in a way that's more automated, that's more self serving? And I thought A, it's a great question B, I don't have a lot of experience in this when it comes to the self service world but you do. So I have some because a fair chunk of close customers are self served, not all of them do we reach out to and have a sales conversation with, but I thought it'd be a fun topic to unpack and hopefully useful to him. So when you are building products Hiten and you I've never asked you, but FYI, is that a product that you envisioned at some point having a sales team or is this a full self service product? That's what I would assume, right?


 


[0:01:38]


Hiten Shah: Yeah, it will be self service for awhile for sure.


 


[0:01:40]


Steli Efti: And so, yeah. What are some of the top level of thoughts that you have when you're trying to optimize for sales when it's full self service?


 


[0:01:49]


Hiten Shah: While your interface is selling. So you want to find the opportunities to get people to pay by pushing some buttons essentially. And you want to do that in a way that's super natural to them, not just upgrade button. So in the past you could have an upgrade button somewhere in the interface, usually like in the top right of the navigation next to your face and people would click it and upgrade, and you get a decent amount of upgrades from that. These days people are pretty numb to buttons that say upgrade. And so what you really want to do is think through how can you contextually give them more ...

Key points in this episode

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