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Why You Shouldn't Offer Free Trials Anymore | Aaron Krall

Why You Shouldn't Offer Free Trials Anymore | Aaron Krall

FromThe Scale Up Show


Why You Shouldn't Offer Free Trials Anymore | Aaron Krall

FromThe Scale Up Show

ratings:
Length:
44 minutes
Released:
Oct 11, 2021
Format:
Podcast episode

Description

Grab your Free Copy of “The 4 Biggest Mistakes That Stop Companies From 10X’ing Their Revenue” at https://www.scalerevenue.io/10xCovering a very wide market can be an exasperating experience! After solving thousands of pains for all kinds of companies in every different market, Aaron Krall finally got fed up and decided to niche down. So he started a group called SaaS Growth Hacks five or six years ago, and it now has 27,000 members. Aaron Krall is the former Brand Manager at L’Oréal and the former VP of Marketing at Lead Generation Specialists. He also founded a SaaS growth accelerator to help companies with their SaaS growth, and he developed a new SaaS software.When Aaron started SaaS Growth Hacks, he did not know much about SaaS. He did not have a SaaS product either. He simply emailed SaaS founders and asked them to share any problems that they were having. When he first started contacting SaaS founders, he felt out of his league and inadequate. Over the past five years, Aaron has spoken to at least 1,000 SaaS companies and worked with hundreds of them. So now he feels that he has a pretty good grip on the market. Aaron looked at all the data he collected over the last five years. He came up with the top 20 percent of everything that can be done with a SaaS company to make the most impact and get massive growth quickly. When Aaron finds SaaS companies he can help, he implements that 20 percent to give those companies a guaranteed revenue increase.  The companies Aaron can help the most usually meet three criteria:They are the best-kept secret in their market.They are succeeding despite themselves.They have excellent use cases, customer stories, or customer loyalty.When companies meet those criteria, the founders usually:Do not yet have a product-market fit. So they do not know who they can serve the most.Tend to undervalue their service and do not realize how valuable it is to their customers.They do not leverage partnerships.Identify your current customers who have paid you the most money and have been around the longest. Talk to them and find out what pain you could be solving for them. (Go to Aaron’s Facebook page and ask him to send you the interview questions he uses. He will be happy to share them with you!)Aaron asks his customers what the highest amount would be that they would be willing to pay for his SaaS product. Aaron prefers to work with those clients who have partners out there who would love to work with them and are willing to increase their price and increase the perceived value of their product.Generally, most SaaS companies are undercharging because creative people tend to undervalue what they create.Aaron does not usually recommend raising your price for current customers.If you can solve something no one else is solving, you will automatically have a mini-monopoly.It is easier to find customers when you know who you’re going after.An equation I used to grow from zero to $30,000,000 in ARR in less than six years:Have the big promise for a big outcome at the topAdd the certainty of the solution you are offeringAdd how fast you can deliver the result and how little hassle will be incorporated in that resultIdeally, you want to 10x the outcome of the solution you are providing.Partnerships can be broken down into three categories:Channel partners: Those are people who have built an audience similar to yours, who will promote you to their audience.Content partners: Find all the articles, listicles, and blogs that talk about the top 10 products in the market in the same category as yours, and try to get your product into those.Deep integration partners: Integrate your product with someone else’s product in some way.As a founder, ask yourself what real estate is unused currently in your market that you could leverage while also benefiting someone else.You can find a lot of unused real estate in expired trials. If you have a retargeting list, that is real estate that you could rent to another company.You can
Released:
Oct 11, 2021
Format:
Podcast episode

Titles in the series (100)

How do you grow like a VC-backed SAAS company without taking on investors? What are the secrets that SAAS CEOs have that the rest of us don't? Do you want to create a lifestyle business, a performance business, or an empire?  How do you scale to an exit without losing your freedom? Join the host Ryan Staley every Monday and Wednesday for conversations with the brightest and best SAAS Founders, CEOs, and Entrepreneurs to crack the code on repeatable revenue growth, leadership, lifestyle freedom and mindset. This show has featured Startup and Billion Dollar Founders, Best Selling Authors, and the World’s Top Sales and Marketing Experts like Terry Jones (Founder of Travelocity and Chairman of Kayak), Gina Bianchini (Founder of Mighty Networks and prior Co-Founder with Marc Andreessen) and Harpaul Sambhi (Founder of Magical with a previous exit to Linkedin). This is where Scaling and Sales are made simple in 25 minutes or less. Saas, Saas growth, Scale, Business Growth, B2b Saas, Saas Sales, Enterprise Saas, Sales, Business growth strategy, Founder, VP of Sales, CRO, Chief Revenue Officer, Technology, Leadership, CEO, Management, Hyper-Growth.