December can be the busiest month for most SaaS Founders across the globe. There are 31 days in the month with only 23 working days left. As the year draws to a close, we find ourselves at a critical juncture for reflecting on the past and strategizing for the future.
The urgency we feel to close deals before the year-end, coupled with the desire to start the new year with a well-defined roadmap, makes December a critical period for us Founders.
In this blog, I’ll dive into four indispensable year-end tips to fortify your SaaS business. When you follow these principles, you can ensure a successful end to December with a seamless transition into the upcoming year.
1. The Best Sales Teams Close on December 31
There is a valuable article by SaaStr that I return to every year. They explain how the ‘best sales teams close so much on the last day of the year, when there really is no need to buy then… at all.’ I want to emphasize how true that really is.
It’s really all about the relationships you and your team have built throughout the year. The greatest sales team educates and nourishes their ideal customers so well, they have EARNED the right to ask for something back. That “something back” is asking your prospects to buy from you.
By consistently educating and nourishing your ideal customers, you’re laying the groundwork for a mutually beneficial partnership. It is up to you and your sales team to leverage on these relationships you have previously built, and close. When that crucial moment arrives (in this case at the end of the year) the ask you make comes from a position of trust and earned credibility.
2. Capitalize on Year-End Budgets
In this final stretch of the calendar, businesses are often aiming to finalize agreements and secure commitments before the year ends. This is the best time to leverage the urgency that arises from clients and partners looking to wrap up projects or budgets. Many businesses have money they need to spend or invest before the year ends due to tax purposes.
Use this time to deliver ROI metrics or provide clear reasons for these businesses to invest now. By highlighting the benefits of investing in your SaaS solution before the end of the year, you can drive the decision-making process and secure deals. This strategy positions your SaaS solution as a timely and cost-effective investment, making it more likely for clients to seize the opportunity and close deals before the year concludes.
3. Maintain Momentum for January
This tip is extremely important for you to set your SaaS business up for success in the new year. Many SaaS Founders will make the mistake of slowing down the momentum of their pipeline. Don’t slow down just because you think everyone else is busy. Deals will still get made and people are still paying attention… A lot more than you think. Here are two major things you can do to build momentum through December and set your pipeline up for the next year:
1. Re-Engage Lost Deals
One impactful strategy for SaaS Founders is to proactively re-engage with lost deals. December provides a unique window of opportunity to revisit conversations with potential customers who may not have closed deals earlier in the year. Reaching out to these prospects during the holiday season allows for a fresh dialogue. You have a great opportunity to address any concerns, provide any updated information, or even offer special year-end incentives.
The timing aligns well with companies looking to finalize decisions before the new year. By actively pursuing these lost opportunities, you enhance your chances of closing these deals before the year ends. You also set the stage for a promising start in the upcoming year.
2. Create Valuable Year-End Content
Creating valuable year-end content stands out as a powerful tactic for SaaS Founders. Content can strengthen your presence through the holidays, and stay top of mind to your ideal customers. Offering a continuous stream of valuable insights keep your prospects educated and engaged. There are many ways you can go about creating content at the end of the year, and many SaaS companies utilize them to get the most exposure.
As the holiday season unfolds, your SaaS business has a prime opportunity to share content that resonates with your ICP, addressing pain points, industry trends, and innovative solutions. This content strategy helps you drive brand awareness, foster trust, and ultimately contribute to the sustained success of your SaaS business.
Here are some key content ideas that work well:
- Top 10 Trends for your ICP
- Best of ‘X’ for your ICP
- Year in Review: Infographics, Data, Reports, Self-Service App
- What’s your ICP doing to plan for the new year? How can you help?
- Strategy Blogs
4. Planning for the Next Year
By the time December 14th rolls around, you pretty much have a good picture of how the year is shaping up. This is when you should set aside some time to configure a proper GTM Plan for 2024. This ensures that you exit the year with a clear plan and align your team so you’re all hitting the ground running in January.
Companies that don’t do this in December, risk losing all momentum in Q1 of the following year. Note that this doesn’t have to be perfect. An imperfect plan is better than no plan – and you can always iterate on it.
Here are the key principles of Revamping your GTM for the next year:
- Diagnose your GTM Performance from the current year
- Review and Identify Key Chokepoints
- Define your Revenue Target for the New Year (and do GTM Math)
- Build your Plan (I like using OKRs) and et your team in alignment
If you’re a SaaS Founder looking to unlock hidden value and set your business up for success in the new year, I invite you to check out my SaaS Go-To-Market Coaching Program. My mission is to help SaaS Founders like you build incredible companies. Inside this program, I work directly with hundreds of SaaS Founders/CEOs in clarifying their ICP, craft a proper Strategic Narrative and Manifesto, and mobilize a consistent set of GTM activities across key channels to drive organic pipeline.