Want to launch an online SaaS business?
You’ve hit the right spot.
Launching an online SaaS business involves a great idea, determination, hard and smart work, and most importantly interest. Many feel that launching an online business is easy, the ride can be pretty disappointing if not for the right approach.
Your product is important, but it is only a part of your journey. There are multiple things one needs to make sure are great before jumping on to put forth your product in the market.
But first, let us simplify SaaS businesses.
SaaS or Software-as-a-service business is basically one that has a
- Low-overhead cost
- Recurring revenue
- No tangible goods
The SaaS industry is all set to grow and be the future according to Forbes. So, this is the right time to get started.
And starting one requires you to follow certain important aspects. Launching a great online SaaS business requires you to take care of basically 10 things.
- Know your market
Learning about your target market is the primary step to start any business- online or offline. Learn about your market- the demographics, target customers, niche, etc. This will help you set the right tone for your product with respect to marketing and advertising.
Market understanding is also important to administer the right information to target groups. Market knowledge is thus important to see where and how you want your SaaS business to be.
- Customer Onboarding: First Key
No matter what product you have, an automated customer onboarding process is important. This will make it easier for users to become paying customers. Signing in features, quick product tour in an interesting manner using animations, etc is important. Customer onboarding is the first step introduction of your customer to the product making it essential to create a great first impression. The interface, design, creatives, and other aspects should be analysed to create a wholesome experience.
- Product Testing
A solid product means sold. The best way to impress your target audience is via a great product version. Test the product before launch, fix loose ends, and create a customised approach. A solid version of your product is vital to make your SaaS business click. Avoid inviting anyone who is close to you like family, friends to get unbiased feedback on product performance. Once you have a launch page, send it to possible users and seek feedback.
- Get Social Media Leverage
Social media is now inevitable for every marketing strategy. Register for the best suited social media platforms to begin with. If your SaaS product requires interacting with influencers, choose Twitter. For a B2B SaaS product, go on LinkedIn. So, choose target audience platform wisely.
- Feedback Mechanism
Create a communication mechanism for product feedback to analyse and act on it quickly. Make sure customer feedback is met and addressed even in the future to prevent customer churn. A feedback mechanism will make it easier to understand the areas where your SaaS product can be improved.
- Email Marketing
Setting up an email marketing strategy is the most personalised way to reach your target audience. Once your email reaches a prospect’s inbox, they are likely to know about your product. Building an email list even before launching the product is important. Share blog posts, infographics, and more via emails. Early lead nurturing is important.
- Analytics Review
Another important thing to do is set up an analytics account. You can understand website traffic, analyse user behaviour, and get tons of informative reports that will help you save time, effort and money. This location-based targeting is also important to set up goals, events, and track how users interact with your SaaS product.
- Build your team
Great companies are built via great teams. Without an enthusiastic tam of hardworking professionals, starting any business is tough. Hiring freelancers may help initially to build a sellable application- a digital marketer, developer, etc. Build remote teams initially to cut large costs.
- Start a Blog
Now, this is the best way a SaaS company can fetch leads. Insightful, original content that aims to solve reader queries and addresses their pain points. Attention-grabbing content will improve visibility and boost results, not only on search engines but overall goodwill of the company.
It’s important to build a marketing strategy before you launch the online SaaS business. Ideally 6 months before product launch, promotion activities must begin so that the hype is built around its functionality.
Build a great product, get active on social media platforms, get referrals and win customers. Once your customer signs up, have an effective customer onboarding strategy that will pivot them from users to loyalists. An amazing team, great website, efficient product, right marketing mix, social media engagement, and customer product adoption are the important parameters of a great online SaaS business.
The whole base for a successful online SaaS business is building a source of traffic so that new visitors can keep revisiting the product and learning more. You can combine tasks, execute them effectively, create an impact, and implement winning strategies to bring your SaaS business to life. Use social media to interact and build an audience. Respond to their queries and create a bullet-proof strategy.
As more companies embrace online mediums, the market for SaaS applications will grow and it’s important to scale your business in the best manner possible.
Originally published on vocal media