Why Is Now the Time to Get Aboard the SaaS Sales Rocket Ship?
The SaaS industry is valued at $186.6 billion in 2022 and is multiplying. It has completely transformed many business operations and has been the top choice for most workplaces today. Tech experts believe this is just the beginning, and SaaS utilization is poised to become the future of all businesses. Also, SaaS offers several lucrative working opportunities for skilled candidates. Many individuals are increasingly interested in building a career in the SaaS industry, especially in the sales, tech, and finance sectors. Below we provide some valuable information to candidates interested in SaaS careers.
Why Choose a Career in SaaS Sales?
A career in SaaS sales is exciting and fun for those who love to put themselves in mentally challenging and creative positions. It is fun to come up with ideas and ways to make more sales using the latest marketing methods. Unlike other types of companies, SaaS businesses are always looking to innovate and expand their customer base which depends on hyper-productive marketing and sales teams. Being in one of these teams and collaborating with everyone could keep you interested in your career because every day is a new battle to bring in more business and explore more ideas.
SaaS Sales professionals are also paid a decent amount of salary which is enough to keep you interested in working in SaaS. On the other hand, there is more room to grow and get promotions in management and executive roles.
Most Popular SaaS Sales Jobs
Sales Development Representative - SDR
Sales development representatives or SDRs are responsible for outreaching clients for outbound prospecting and lead qualifying purposes. They play a critical role in business growth, not just in sales and revenue but also in brand awareness and trust. SDR is, therefore, one of the most highly demanded jobs in the SaaS industry. The average salary of an SDR in the US is $53,879, with additional benefits of up to $22,126. Sales Development Representative training takes a few months and is available physically and virtually.
Account Executive - AE
Account executives or AEs are responsible for implementing and maintaining SaaS products in clients' businesses. AEs are in high demand due to the importance of their roles and responsibilities within SaaS companies. AE is a highly lucrative career; AE experts make more money than the average median household income in the US. AEs can make an average of $82,792 in basic income in the US and $69,383 in bonuses. This job usually requires a Bachelor's degree in business, marketing, sales, or a related field. SaaS companies look for individuals with a minimum of 2-3 years of experience in a relevant role.
Sales Engineer SE
Sales engineers or SE are individuals who sell complex products that require technical expertise. They are also responsible for feedback and feedforward services to improve the quality of the products. In simple terms, they understand, explain and enhance the value creation prospects of the SaaS products and services.
This job is ideal for engineers with a salesperson mindset, ones excited to work with customers and provide them with intelligent business solutions. They are equipped with a deep market understanding and the client's needs. They are vital in improving a SaaS company’s products and services. SE is, therefore, a popular career choice for those who wish to pursue a successful career in the SaaS industry. Sales engineers make the most money as compared to SDRs and AEs. Their average salary in the US is $122,248, with bonuses up to $37,524.
Essential Skills for a Successful Career SaaS Sales
Technical Understanding of The SaaS Product
Almost all SaaS company jobs require some technical understanding of the products offered to the customers. SDRs and AEs need minimal technical information as their jobs are more relevant to marketing and customer servicing. However, SEs require a complete understanding of the technical aspects of SaaS products. This is because they often highlight the product features to the clients and explain how it creates more value than its counterparts in the market.
Understanding the Client’s Business and Needs
SaaS experts must be professionally competent in dealing with clients with due care. For this reason, they must understand the business requirements of their clients. Only then can they present a clear picture of how their products provide business solutions.
Communication Skills
Everyone working in the SaaS sales category must deal with the customers. SDRs communicate for marketing purposes, AEs for product implementation, and SEs for collecting feedback and other customer services. Excellent communication skills help individuals exchange information and knowledge in a user-friendly manner. Also, they assist in overcoming diversities, building trust, problem-solving, and sharing creative ideas.
Time Management
Time management is essential for all individuals, and SaaS experts are no exception. Effective time management plays a critical role in improving one's productivity and focus. It empowers workers to spend more time on their most important projects, goals, and people.
Adaptability
SaaS jobs are evolving, and individuals often find themselves in challenging situations. SaaS candidates need to be adaptable and embrace the challenges associated with their jobs. This soft skill will enable them to quickly learn new skills and expand their capacity to handle the changes.
KPIs in SaaS Sales
SaaS sales experts are often provided with lucrative bonuses based on their performances. The following are the most commonly used metrics or KPIs that measure the performance of sales experts.
Sales Qualified Leads
A qualified sales lead or SQL is a prospect interested in a particular SaaS product and is highly likely to close the deal. The performance of SDRs is usually assessed by the number of SQLs they create for the company. Companies also consider how SDRs move SQL through the sales pipeline, i.e., from marketing-qualified lead to sales-accepted leads.
Closed Sales
AEs are sales personnel usually responsible for closing deals with new customers. Therefore, their performance is assessed based on the number of sales deals they have successfully closed. AEs are also responsible for dealing with existing customers; therefore, their performance is also evaluated through other metrics.
Productivity Metrics
SaaS sales experts are assessed on several KPIs related to their productivity and its impact on company revenue growth. For instance, in the case of SEs, the most important KPIs are the quality of demos, demo conversions, and support ratio. Productivity is also assessed based on the time spent by the sales experts to perform a specific job.
Other Lucrative Jobs in the SaaS Industry
If you are a SaaS professional with extensive experience, chances are that you can also take on one of these positions by up-skilling yourself. Receive free guidance on the SaaS careers by SaaS Talents.
Chief Financial Officer CFO
CFOs are senior executives responsible for managing a SaaS company's finances. They are also responsible for financial planning, risk management, and reporting. The average salary of CFOs in the US is $226,203, with an average additional compensation of $88,795.
Chief Data Officer CDO
CDOs are top officials in a SaaS company and have responsibilities related to the utilization and governance of data, including information strategy, management, control, and policy development. The average salary of CDOs in the US is $234,590, with an average additional compensation of $80,000.
Chief Marketing Officer CMO
CMOS are corporate executives who enjoy a lucrative career in the SaaS industry. They are responsible for the planning, deployment, and overseeing of all marketing strategies of the company. The average salary of CMOs in the US is $222,709, with an average additional compensation of $57,806.
Customer Success Manager
Customer success managers are responsible for improving the customer experience of a company’s products and services. SaaS companies hire CSMs to build customer loyalty and building long-term relationships. The average salary of CSMs in the US is $113,472, with an average additional compensation of $25,000.
How to Start a Career in SaaS Sales? Learn from Experts
If you are looking to start a career in SaaS sales, it is the best time to get started because the ship is about to take off and the boarded people are going to make huge progress in the coming years. The best way to get started is to contact our SaaS recruitment agency and receive free career coaching.
SaaS Talents work with SaaS companies of different sizes and help them build effective and productive teams in marketing, sales, and customer success. We do this by engaging the candidate (which could be you) with the company and using our latest HR technologies to scan the best candidate that will fit the company’s environment.
Chances are that you could be our next SaaS Sales hire. Start your SaaS Sales career today!