Software vendors don't typically focus on a single product.
A core offering isn't enough for sustainable growth.
When your vision expands from a single product to a family of products, you have more to think about.
If a company wants to expand their business with existing customers while also acquiring new ones, they should bundle their products. It won't be easy to close these larger deals.
In this article, we will show you how to win over customers to purchase your products. You will be on your way to living thesuite life after diving in.
Let's say you're the founder of a customer relationship management software company that helps local businesses like dental offices, auto mechanics, and more. Your company saw early success with a coreCRM, but eventually offered additional products like an email marketing tool, a website builder, and an artificial intelligence Messenger bot.
Each product is sold individually and stands on its own. They create a more robust offering when they come together.
A history lesson from the Microsoft Office Suite
Most PC users around the world use Microsoft Office. At one time, Microsoft Office wasn't as dominant as it is today.
In the late 1980s to early 1990s, Microsoft had its fair share of competitors, but when the company first bundled up Word, excel, and PowerPoint, a fierce battle to win over the market began. WordPerfect and Lotus were both popular on their own. Microsoft was correct.
Borland, Lotus, and WordPerfect joined forces to create their own suite of products. Due to legal battles, these partnerships ended up collapsing.
Microsoft's success was due to the fact that enterprise software buyers preferred to purchase software with better cross-compatibility and similar graphical interface.
Microsoft has the most used office suite of software in the world. With the times, the product suite has become more flexible for more buyers.
The power of product suites for enterprise organizations
The early 1990s was a time when the B2B software world was quite different. It's getting harder to sell to buyers from longer sales cycles to more stakeholders.
With inflation on the rise and companies preparing for a downturn, organizations are becoming more sensitive to software costs. Product suite offerings can be very beneficial to enterprise companies.
Product suites are a great way to expand relationships with customers who already buy from you. Getting them in the door with a single product will allow them to score larger deals and make more money.
Product suites help elevate your brand by showing you are a moreholistic solution approach.
3 tips to win over buyers
B2B software vendors face unique challenges when it comes to current events. Any enterprise software company can convince buyers why they need a complete product suite if they keep a few things in mind.
1. Create a cohesive experience
The other products in the suite need to be as valuable as the single one. There are a few ways to get this done.
- Expanding features and functionality
- Simplifying vendor relationships
The purpose is to build upon the success of each product to become even more comprehensive. It feels like a more cohesive experience when the expansions are exclusive.
2. Favor pricing transparency
Pricing is a big challenge for promoting product suites. The more products you have, the more confusing it can be.
Pricing transparency can be hard to achieve from an operational and sales perspective. If you can, consider whether this will remove potential hesitation for your customers and prospects.
3. Reduce complexity in messaging
Vendors of enterprise software give customers many products. You have to convey more information if you have more products. The simplicity of your message is a good principle in sales and marketing.
Being able to speak the language of software sales isn't something you pick up quickly. The more features and products you have, the harder it is to convey your message.
If you want to talk to buyers about your product suite, you need to prioritize impactful messaging.
Introducing G2 Product Suites
G2 plays a crucial role in the decision-making process for buyers because it is the leading marketplace. User-generated content and review sites are becoming more influential according to the G2 Software buyer behavior report.
Product and service review websites are trusted by respondents.
The source is G2.
G2 Product Suites is a new offering that we are proud to announce.
Product Profiles give a streamlined view of a vendor's full line-up of products. Buyers and sellers can look at reviews, pricing, and information from one place.
Product Suite Profiles showcase the power of a full suite, cloud, or platform offerings on G2.com, which in turn supports vendors in their goals of elevating brand presence and closing larger deals.
Focusing on full-service solutions to close larger deals
By using these top considerations in conjunction with G2 Product Profiles, sellers can communicate better with customers and share related products to achieve their goals.
One way to elevate your brand and increase demand on G2.com is by utilizing Product Suites.
If you want to claim your Product Suite profile on G2.com, check out this resource.