$50,000 MRR in 6 Months?
The breakdown
We at Firstsales.io have built a comprehensive sales suite that includes cold outreach, email warm-up, and LinkedIn Prospector tools, all designed to streamline and enhance your sales process.
..but
Enough about what we do, let's dive into how you can start growing your SaaS using Cold Email and Personal branding in case you're struggling to grow your SaaS.
This guide will help you to reach up to $50k in MRR while helping you to remain bootstrapped.
Step 1: Define Your Ideal Customer Profile (ICP)
Before you start sending out cold emails, it's crucial to know who you're targeting. This means defining your Ideal Customer Profile (ICP). Your ICP should include details like industry, company size, job title, and any other relevant characteristics.
The best way to find out is to get a subscription to the LinkedIn Sales Navigator and explore all the filters to identify your ICP.
Make sure you are growing vertically, not horizontally. This means that all of your sales copy on your website should be built around that ICP, otherwise you will struggle."Vertical growth" is the magic word here.
Step 2: Build a High-Quality Prospect List
Once you've defined your ICP, it's time to build a list of prospects that match this profile. There are several tools available online that can help you with this, but my favorite prospecting tool is LinkedIn Sales Navigator.
Remember to focus on building a list where the company has a problem and has money to solve that problem.
Very often SaaS startups focus on building a list of prospects that only have problems but no money.
Ideally, you want to target companies that have 11-50 employees.This is a sweet spot because if someone has a team of 11, that means they're spending around $15k to $40k per month on fixed salaries.
Such companies will have no problem paying $50-$500/month in subscription fees.
Step 3: Craft a Compelling Cold Email
Cold email channel is your best friend if you are building a B2B SaaS. No other channel comes closer in terms of results + driving positive ROI.
The success of your cold email campaign largely depends on the quality of your email.
Here are some key elements to consider:
Subject Line: Make it intriguing and personalized. It should compel the recipient to open the email.
Opening Line: Make it about the recipient, not about you or your product.
Value Proposition: Clearly state what you're offering and how it can solve the recipient's problem.
Call to Action (CTA): Be clear about what you want the recipient to do next. In this case, it would be scheduling a demo call.
Remember, the goal of the email is to start a conversation, not to sell directly.
Step 4: Personalize at Scale
Personalization can significantly increase your email response rate. However, personalizing every email can be time-consuming.
Use automation tools to personalize emails at scale.
You can personalize based on the recipient's industry, job title, or any other relevant information.
Here is a pro tip for you, make sure you always create ONLY ONE campaign per ICP and country.
Example - You are targeting marketing agencies in the USA.
However, Marketing Agencies can be of all types, so you need to segment this ICP - SEO Agency, Performance Marketing Agency, Social Media Agency, etc.
Now let's say you have selected Performance Marketing Agency in the US, now build a campaign around them.
Make sure you research and understand the challenges they go through to address those problems in your copy, otherwise you won't get their attention.
Personalization isn't just about changing their name, company name, etc., it's about personalizing their needs and addressing them in the copy.
Step 5: Follow Up
Don't be discouraged if you don't get a response to your first email.
It often takes multiple follow-ups to get a response. Use an email tracking tool to know when your emails are being opened and schedule follow-ups accordingly.
I use a total of 4 follow-up sequences in a 1+1+1+2 day delay strategy and I usually get a clear "yes" or "no" from my prospect within a week.This strategy has improved my response rate from 1-2% to 4-5%.
I also often include a rock solid limited time offer in my cold email to create urgency.
Step 6: Optimize Your Cold Email Campaign
Track your email metrics (open rate, response rate, conversion rate) and continuously optimize your emails based on these metrics.
Always A/B test your variants and sequences. A/B testing can be a great way to find out what works best for your audience.
Step 7: Build a Strong Personal Brand
While cold emailing is important, it's equally important to build a strong personal brand.
This can help you establish credibility and attract more demo calls. Here are some ways to build your personal brand:
Content Creation: Share valuable content related to your industry on platforms like LinkedIn, Medium, or your own blog.
Networking: Attend industry events, webinars, and join online communities. This can help you build relationships and increase your visibility.
Thought Leadership: Share your insights, experiences, and opinions on relevant topics. This can position you as an expert in your field.
I currently have about 35,000+ followers on LinkedIn and about 54,000 followers on Twitter.
When I connect with my prospects on LinkedIn, they are super impressed with my profile, which helps me a lot in building trust.
Also, my prospects end up going through my daily content on LinkedIn to establish my credibility as a subject matter expert.
This is key in 2023 and moving forward because everyone wants to buy from a credible person.
If you don't understand what to post, here's a quick framework:
Monday - Talk about results - Everyone likes to start the week on a positive note.
Tuesday - Pick a problem and offer a solution type of content. Educational post.
Wednesday - Talk about your past / stories work brilliantly on LinkedIn, attach your selfies / pictures, it will increase your reach by 100-2000%.
Thursday - Talk about the new features you have built. Build in public.
Friday - Talk about how your week ended and what you accomplished. Good, bad, ugly, be open and honest.
Weekends - Talk about your life as an individual, not work.
Step 8: Leverage Social Proof
Social proof can significantly increase your conversion rate.
This can be in the form of testimonials, case studies, or any other proof that shows the value of your product.
Include social proof in your emails and on your website.
Here is another suggestion - Always do some PR and strengthen your SEO because whenever you reach out, your prospects who are interested will "Google" about you.
Make sure you have a strong search presence.
If they can't find you credible there, they will give up and not buy from you.Here's another pro tip:
Every time someone opens your email, look them up on LinkedIn and send them a connect request with a personalized pitch.
Do all of the above and you can easily grow your SaaS to $20,000 to $50,000 in MRR in less than 6 months.