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What is SaaS: A comprehensive explanation & secrets to SaaS success

What is SaaS: A comprehensive explanation & secrets to SaaS success

Jyothi Tulasi 870 22-Sep-2020

  Introduction: One aspect that has revolutionised how companies grow their businesses is SaaS. There are multiple benefits around SaaS which we will know, an explanation on how it works, and what are the secrets you must know to tap into success with SaaS.   

SaaS or Software as a Service- What is it?  

It means using cloud/internet storage as a means to provide software delivery to clients globally anytime. The advantages include reduced costs, easy delivery, and great access. It is now being adapted by leading entrepreneur software companies. Customers need to pay a subscription fee to access the software of the paid period through a secure network.   

There is lot of potential for growth with the right strategies. The main point is SaaS creates an easier solution for customers to understand the concept of the business and decide whether they want to stick with it or not.

So, when SaaS companies are here to stay, let us know 7 Secrets to Grow your SaaS Company.  

Focus on Customer Needs

Ensuring that someone wants your product or service is important. Research is important or this and so small customer surveys and tests can help. Customer needs are important, and the product needs to be flexible. With timely support, great engagement, and less problems- the focus of the company should be on the customer first approach.   

Track Churn   

You never know when they will leave. Keep this in mind. Customers need the slightest level of dissatisfaction to face a buyer’s remorse. Churn means the percentage at which customers leave doing business with you. The longer the period, the more important the association. When churn decreases, lifetime value automatically increases.   

Product is Power   

A SaaS product works on its features. Understand ways it can offer value to clients, solve their problems, and redress their problems. Customer education regarding product usage is important. Deep analysis and research is necessary to understand user engagement. The product needs to solve a problem that customer face.   

Customer Feedback 

In SaaS, customer feedback is important to know what works with the product and what doesn’t. the focus is on improving your product with new and improved ideas. You can get all feedback in one place and analyse it together- to get what improvements are compulsory for your product. No service or product is at its best in the first version. It gets perfect or near perfect over time.   

Teamwork Trumps   

You alone cannot shoulder your company. You need a strong team to work as a united organism and ensure success both in terms of reputation and numbers. In many businesses, teams lack strength to stand for company values and in many product implementations seems tough. There should be a single goal that the whole company is aware of to move in that direction.   

User Acquisition   

An important factor is to find good ways to acquire new customers. Expensive ways to get customers can prove to be disturbing for the long run. Offer trials to your prospects. When they like it, they will sign up surely. Put easy refund policies in place to attract more customers. Keep your pricing intact- customers are savvy and want to know all details down to the last minute. A unique approach to handling this will help bag more customers.   

Marketing Matters   

Attracting new customer by generating awareness, improving curiosity, improving product knowledge is important. Through effective marketing strategies like advertisements, email newsletters, customers can be attained. When they like something, they will even refer it to someone who might be more interested. Inbound marketing is a great way to boost prospects.   

Bottom Line: Keep it Simple   

There is no need to complicate SaaS companies functioning. To generate leads, the right marketing approach is necessary. Customer education and retention are other important aspects that come into the picture post sale. If done right, the innate benefits in SaaS are huge. It is no doubt a long-term strategy which is, honestly, the best thing in every business climate. Customers need to see value in the product or service at every stage of the business and even after sale. Having the right customer success team will make it easier for the company to see great success.   

Updated 22-Sep-2020
Jyothi Tulasi

Jyothi Tulasi

Jyothi Tulasi is tech-savvy and proficient in technical SEO optimization for various SaaS products. She has profound expertise in outreach. She loves connecting to people and singing in her free time.

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