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The rise of the SaaS industry

Software as a Service (SaaS) has become the ideal software model for businesses in recent years. According to Gartner, SaaS is expected to be a $120 billion industry by 2021. 

Adding to that, recent research finds that almost 73% of organizations will be using SaaS applications by 2021 as well. 

As an industry, SaaS is only set to expand further in the future. While the future growth is positively exciting in this sector, with over 10,000 SaaS businesses in the world today, the competition is fierce. This makes it difficult for businesses to stand out in a crowded market.

According to a survey conducted by Invesp, over 89% of SaaS businesses treat “New Customer Acquisition” as their highest growth priority, 59% treat “Existing Customer Renewals” and 46% treat upselling as high priorities. 

For SaaS businesses like yours to thrive in this competition, you need to conquer two major challenges—customer acquisition and customer retention.

But, how?

The best way is to adopt a CRM solution for your SaaS business.

CRM software—how important it is for your SaaS business

Customer acquisition is the driver of SaaS businesses. Driving leads to the bottom of the sales funnel and converting them into customers is not a bed of roses. It’s a complex mission for sales teams to prospect, follow-up, nurture, and sell. Add to this, sales reps also have to deal with upselling and retention.

In a market full of growing SaaS products, your business could be neck and neck with competitors. But, how do you compete and win more customers? Customer experience is the real differentiator. The upside here? Providing excellent customer experience in the SaaS business is easy with CRM software. Well, only with a good one.

CRM comes in all shapes and sizes. But the right CRM should facilitate your sales process from the first touch point to the final sale.

Why is Freshworks CRM ideal for the SaaS industry?

Improve customer acquisition

Capture website visitor information and understand their requirements based on what they browse and present your solution to match them.

Close more deals

Visually track your sales pipeline, and leverage built-in AI capabilities to identify the best opportunities and forecast sales accurately.

Increase customer retention

Get high visibility into your customer’s journey, provide a seamless customer experience and nurture them to improve conversion rates.

What's in Freshworks CRM for SaaS businesses?

Capture the best quality leads automatically

Focus on the leads that matter to your business, capture them quickly through your website or email, and quickly engage with them at the right time and have contextual conversations through a built-in chatbot.

With Freshworks CRM, you can:

  • Capture leads from existing forms through Smart Forms and get to know them better with auto-populated data such as social media information, website behavior, and more
  • Capture high-intent leads by embedding code-free Classic Forms in your emails
  • Trigger messages based on your lead’s past interactions with your company and engage with them immediately through a built-in chatbot

Learn more about capturing and tracking leads here 

Identify important leads with AI

Keeping your prospects engaged and staying productive can be difficult without AI, as it takes care of automating many mundane tasks such as lead generation and lead qualification through chatbots, and provides valuable insights to help you stay focused on building relationships with your customers.

Freshworks CRM allows your sales and marketing teams to:

  • Identify priority contacts based on predictive scoring gathered from historical data and interaction with your company and close deals faster
  • Avoid contacts and deals slipping through the cracks with data-backed suggestions to take the next best action
  • Reschedule meetings with leads easily with Freddy AI’s automatic out-of-office email detection

Learn more about Freddy AI

Unify siloed data with a 360° customer view

Get a complete view of your contacts and their journey across sales and marketing teams, and leverage insights such as job title, customer fit, related accounts and more to boost engagement and increase conversions. 

With Freshworks CRM, you can:

  • View all your lead and deal information in one place, your conversations with them, their website activity, and more
  • Set lifecycle stages based on where your leads are in their journey and mark them as a prospect, sales or marketing qualified lead or a customer
  • Set up sales activities based on your lead’s behavior such as email open, page visit, or button clicks
  • Provide complete visibility into customer behavior with activity timelines and unify your marketing and sales teams

Learn more about customer journeys here

Get complete visibility into your deals with Pipeline Management 2.0

Monitor and manage your sales process, understand the sales activities that lead to closure and break them down into actionable tasks with Pipeline Management 2.0 from Freshworks CRM. 

Freshworks CRM helps you:

  • Understand deal performance with a quick glance at the number of deals in each stage, their value, and which ones you need to focus on with AI-backed insights
  • Use weighted pipelines to predict the revenue of different sales teams across different timeframes — and identify its success rates
  • Gain a more in-depth understanding of your deals and identify the best-case or commit-ready ones to predict monthly or quarterly revenue with sales forecasting, all from a single dashboard

Learn more about pipeline management 2.0, here

Be on top of your sales and marketing performance with advanced reporting

Take cross-functional reports to the next level with in-depth reporting functionalities in Freshworks CRM. 

Marketing teams can view the ROI of campaigns, drill deeper into the customer’s journey with custom reports, and measure conversions with a custom dashboard.

Sales teams can make more impactful decisions, understand their sales cycle better with sales velocity reports, stay on top of business metrics with cross-module reporting, and understand how salespeople approach deals with sales activity reports.

Freshworks CRM allows you to gauge your sales and marketing efforts by allowing you to:

  • Get filtered revenue reports by geography, salesperson and source to understand which sales activity works and which doesn’t to optimize your sales process
  • Track the ROI and impact of your offline marketing events such as trade shows, conferences, and more with event-tracking reports
  • Understand high performing territories and which ones have more business opportunities

Learn more about sales analytics here

Do this and more with Freshworks CRM for SaaS businesses

Collaborate across teams in real-time

Work on the same deal with different salespeople on Slack or Freshconnect and get more context with notes, tasks, and activities.

Make accurate sales quotes

Enhance your efficiency, productivity, and maximize sales with configure-price-quote (CPQ). Collaborate with customers and build configurations and quotes quickly. 

Track app usage and drive product adoption

Understand what features leads use on your app, categorize them into segments and trigger relevant campaigns to drive product adoption and usage.

Try our all-in-one Freshworks SaaS CRM

Freshworks CRM is a leading CRM built for sales teams in SaaS businesses geared to improve customer experiences, sell more, and increase productivity. Your search for a CRM ends here. Sign up for a 21-day free trial and see how you can grow your SaaS business organically.