You’re in enterprise SaaS sales and it’s Monday morning.
You want to start the week off on the right foot and jump into closing deals. But don’t. Resist the urge. Even though you’ll likely make some sales, you’ll regret it after.
Why? At Less Meeting we found that Monday was the worst day for us to make sales.
Sell to the Right Customer
We love all our customers.
But to be sure, some are better fits than others. In particular, we look for entire teams using Less Meeting (vs. solo users) and those who buy for the full year (vs. month-to-month).
These customers help cash flow and increase the average ticket size. That helps us stay in business so we can serve even more customers.
More importantly, they also have lower churn rates and higher product usage stats. In short, these are our most satisfied customers.
This isn’t a huge surprise either; Less Meeting simply works better when more people on a team use it (similar to a Wiki) and the more committed a team is to fixing their meetings.
How Do We Target the Right Customer
We started by looking at overall sales. Some simple Excel pivot tables shows us that all else being equal, Mondays run a full 10% above expectation in daily sales.
I thought I said Mondays were the worst day for us to make sales.
Ok then, let’s dive into Monday details.
Next we took a closer look and saw that out of the 25% of sales that happened on Mondays, nearly half – 12% – were month-to-month purchases for solo licenses.
Unfortunately this is the exact opposite of our target customer.
Naturally we then ask, well when does our target customer buy?
So last we filtered on only those purchasers who bought licenses for their whole team, and for the whole year.
Turns out that Monday was only the third most likely day for annual team packs to be purchased.
Instead of Mondays, Thursdays are the days we get the most efficiency out of our sales efforts.
Adapt Your Sales Process to Whatever Day is Best to Sell
Thursdays won’t be the best sales day for each of you reading this.
The key to remember is the importance of segments in your data analysis.
Then, once you have this data, be prepared to act on it. For example, at Less Meeting we try to schedule demos and product intros early in the week. This gives customers a few days to learn about Less Meeting. Then we can follow up a couple days later to answer remaining questions and complete the sales process.
Last, think about what else these results tell you. Solo users who only planning to try Less Meeting out for a couple months can easily buy a license on a whim on Monday morning after a weekend of planning new goals for the coming week or month.
On the other hand, teams buying a license for everyone for the whole year need manager and budget approval for that kind of commitment. And knowing this up front helps prepare you to help your champion as they try to sell your product to their leadership.
What about you? What days have you found work best for selling your product?