Back in the day, obtaining the right amount of scalability was a major obstacle for growing businesses; until the advent of the cloud. With cloud came a revolutionary change in the software development industry which accelerated the momentum of many trends including Software-as-a-Service (SaaS).
With SaaS, modern businesses can launch their products and services without being concerned about scaling up proportional to their increasing customer base. Furthermore, this business model also allows enterprises to deliver instant, cloud-based solutions designed to solve a wide range of users’ problems.
Some well-known SaaS applications include Netflix, Office 365 and Uber; each designed to solve specific problems. For instance, Netflix addresses users’ boredom by offering a vast library of entertaining videos including movies & TV shows that can be streamed at the finest quality. Uber makes transportation hassle-free for users. Office 365 services as a convenient and reliable assistant that helps improve productivity.
Investing in a SaaS software can be a lucrative decision provided you keep a few things in mind to build the right kind of application. These ‘things you should remember’ applies to almost all popular SaaS applications.
Let’s get to the details.
Pitch should be focused on the purpose; not the price
SaaS business owners generally seem to believe that their pitch should be focused on the price of their product, for a SaaS application with a decent price tag could appeal more to the target market. But that isn’t the case.
SaaS software normally doesn’t cost much to build and maintain compared to conventional eCommerce & brick-and-mortar stores. So you can offer it to customers with a great price tag. Though a decent price tag can influence sales, consumers won’t have a good idea of the problem that the app is designed to solve. So why would they buy it if they are not aware of what the app can do?
On the other hand, if the consumers are made aware of how the SaaS app solves a specific problem that has been bugging a good majority of the target market, they wouldn’t mind paying a bit more for the app. So when marketing a SaaS product, place more emphasis on its purpose than its price.
Create relevant content with value
You wouldn’t find a successful company that doesn’t have a blog on the web. With these blogs, they present their expertise and knowledge to their target audience and potential consumers while giving them good reads on a variety of topics pertaining to the business’ products or services.
IsItWP, a free online resource, recently compiled hundreds of blogging facts and stats and according to them 77% of internet users read blog articles. With blogs being so important today, the content marketing industry is at its all-time peak; set to be worth around $300 billion this year.
So when building your SaaS application, make sure to take note of the technologies used, their benefits, the application’s role on its target market and other content based around your niche. With all of these information combined with even more research, you can create blogs that further enhance the core experience of your SaaS application.
Uber does this impeccably with a blog that features fresh content that offer travel advices, scenic locations from around the country, and even travel stories of famous people. You may be wondering why Uber is speaking about travel. But the company’s blogs reach the right people who are thinking about traveling. And during travels, people may need an Uber. The idea is based on the company’s assumption that people require rides before the board flights and after they land.
And they seem to be right. Uber builds a relationship with their potential customers via their blogs before even a single transaction is done on their app.
Free trials can do wonders
Not many SaaS applications offer free trials. But most successful ones do. With free trials, the SaaS software can present its capabilities to its customers; showing them how it can solve specific issues at zero cost. If the customers like this hands-on experience, they will not think twice to become return customers and invest in a paid subscription.
Furthermore, this is also a strategy that can help with conversions. A timed test run offer can increase sales provided the application has all necessary features functioning properly. A free trial also encourages people to tell others about the software.
Analyze customer data and conduct surveys to improve product
Your efforts shouldn’t end when everyone likes your SaaS application and sales improve. Every successful SaaS application had solid support to back them up. You should certainly have a strategy in place to improve the existing service further to serve customers even better. The best way to innovate like that is to uncover insights from customer data and to conduct customer surveys.
Data from both sources can point out trends that people appreciate and trends that aren’t making an impact. Surveys can help you zero in on the most wanted feature for your SaaS product.
Comparing results from both data analytics and surveys can help you determine whether a majority of the respondents make up a fair percentage of your customer base. Remember also to estimate the percentage of customers that took the survey. For instance, if the survey respondents constitute only 5% of your customer base and the survey concluded that a particular feature is wanted by 95% of the respondents, you may have to rethink about making big changes as you have only taken the opinions of just 5% of your customer base.
If the survey data have information from over 60% of your customer base, the insights you uncover can help you make decisions to accelerate the growth of the app in a positive direction.
When it comes to enterprise technologies, SaaS applications cast a big shadow that will be present for quite a while; empowering enterprises to adapt to dynamic industry, technology and market changes. Hope the tips mentioned in this blog helps you in building a great SaaS application.
If you still need help with developing one, get in touch with the experts at AOT. We would love to help you.