Developing success in the SaaS market

December 18, 2019

Software as a Service (SaaS) is a common technique applied to the operations of many businesses today. Studies suggest that by next year, over 70% of all enterprises will operate nearly completely on SaaS. In short, SaaS is an applied approach offering software and charging customers to use these services on a subscription model. The systems generally include a number of benefits such as a simplistic platform, reduced costs, access to multiple functions and a remotely available tool.

As far back as the 1960s, SaaS services have continued to expand, leading to a number of leading businesses in the marketplace. One notable business is Slack, the cloud messaging platform. In fact, Slack offers more than just messaging, enabling users to send and store files, make video calls and generate work channels. The platform has become a very popular option for many startup companies, offering a very user-friendly, affordable and aesthetic system. Slack now has over 10 million users and this is forecast to continue rising into next year. Many industry experts believe that the success of Slack boils down to the product and a carefully created software service that people are genuinely looking for, and more importantly, willing to pay for.

Another highly-regarded platform is Shopify, a targeted e-commerce system enabling any user to create and manage their very own online store. Their popularity has grown significantly and has become the 3rd most popular site worldwide. Shopify has been particularly clever in its approach, providing a multi-channel approach, enabling high volume traffic and engagement for each customer.

One of the most established companies in the SaaS market is Google, offering in excess of 135 differing SaaS products including productivity systems like Google Docs to popular advertising tools like Google Adwords. Google is regarded for creativity and innovation and this represents an essential part of its mission. Innovation requires ensuring you are one step ahead of competitors in your industry, thinking of new concepts and products that have the ability to transform the customer experience.

As proven by Google and other leading businesses, success in SaaS boils down to creativity, innovation and delivering a service that people are willing to pay for. Creating a product that is user-friendly, simplistic and ultimately creates a clear benefit to the user is more likely to succeed in the marketplace.

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