What things would you want in a SaaS Letter of Intent?

Corey Blaser Sailor. Mormon. Entrepreneur.

October 25th, 2014

I am currently putting together a letter of intent to onboard beta customers prior to our launch. It is mostly to show traction for investors, but also to set certain expectations with our prospects. Our product is an enterprise SaaS platform, so our sales are a bit more complex, relationship based, and a simple "enter your email" landing page does not work for us. We will be presenting the LOI face to face to our prospects and asking for their commitment.

Does anyone have any specific insights or examples of an LOI they have used in the past?

Sandeep Arneja Co-founder & CTO at ListenLoop.com

October 25th, 2014

Have the LOI lay out the exact price a client would be willing to pay, what that price would get them from you and how soon would they be willing to use it. Even better if the client can attach a check or payment with the LOI. Have the LOI identify the buyer. I don't mean the company name but : 1. the buyer persona 2. The user of the software 3. The decision maker 4. The guy whose budget it goes from Sent from my iPhone

Arun Joshi President / CEO Visulon Inc.

October 25th, 2014

Hi Corey,

First and foremost I would be curious to know if giving away beta version of your software would be a well thought out strategy for enterprise SaaS product. May be that is what makes sense for you and your team.

We designed our SaaS platform and started sales efforts right after it was tested thoroughly. We experimented with pricing and other variables. Our goal is to get first ten accounts and learn a lot during the process. Customer feedback is 'real' when you give them fully released product ( well, there is nothing like 'complete, fully released SaaS product', it keeps getting better in your software 'build management' process..)

-Arun

Anonymous

October 25th, 2014

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