How to Maximize Your SaaS Company’s Growth?

saas

Software as a service (SaaS) is becoming bigger by the day. That means that there is a lot of money to be made if you handle things correctly. Of course, you knew that already. That’s why you’re in the branch. The question you’re asking isn’t ‘can I grow’ but ‘how do I grow faster?’ Today we’re going to look at some of the best strategies to accomplish exactly that.

For as they say, ‘Forewarned is for forearmed’.

So check it out! I’m sure you’ll really like some of these and will start applying them immediately.

Know thyself

The first thing you’ve got to understand is what problems people using your product are struggling with. Now, obviously, you’ll have a decent understanding of where your product’s pain points are. Don’t assume you know everything, however.

For that reason, reach out to customers and find out what problems they’re having. Then you can take active steps to fix those problems in later iterations of your software. Remember, it doesn`t matter whether they need writing help or have some problems with your website, you need to fix it as soon as possible.

To get the best out of these moments with your customer you’ve got to make sure you:

  1. Listen instead of preach. Yes, you might be able to convince this one customer that your service is the right one after all. And that’s great, as that will mean you keep that customer. At the same time, you might lose all of the other ones who are dealing with the same problem as you haven’t resolved it. For that reason, listen first and preach second. Only in that way can you find the underlying problem and deal with it for everybody.
  2. Active listening is the key. If you want to understand where your customer is coming from, you can’t just do it at the moment of speaking. You’re not rehearsing what you’re going to say next as when you do that you’ll entirely miss what they’re trying to tell you. Instead, engage in active listening. This will make it far more likely you’ll understand your customer’s problems as well as making sure your customer actually feels heard.

Give it away

The biggest problem with software as a service is that many people aren’t all that keen on getting saddled with a product they don’t end up using. This creates a high barrier that you really want to lower as quickly as possible.

Now naturally, you’ve got trial periods so that people can try out your product. The problem with that, however, is that this is always available. And so, you’ll find out that people will hesitate before they try out your service as they’re too busy today to take full advantage of the trail you’re offering.

For that reason, you want to give people the opportunity to get a special trail that will last even longer than the one-month trail people get. The best strategy is to offer a limited number of people six months or year membership for totally free. And after they’re gone, to still draw in the latecomers, try offering a three or two months trail period to whoever still sign up before a specific date.

Longer period trails actually work quite well as when they’ve been using your software for a few months they’re far more likely to become dependent on it before their trail runs out. In this way, you’ve got a good chance to rope them in.

Get in on the app markets

App markets are a great way for people to find the service that they’re looking for. The problem, of course, is that if you’re not on the top of your market, you’re going to struggle to sell any product at all. Just like with Google, most people don’t look past the first few solutions to their problem. And so, if you want to get anywhere you want to get on that first page.

To get there, focus on one market place at a time. Find the one where you already rank decently high and work hard on getting up even higher there. You really want to be in the top three before you even consider putting any serious effort into any other market place.

Also, you might not immediately want to focus on the biggest marketplaces as these are generally the hardest to break to the top. Instead, focus on smaller markets where your competition isn’t focusing as much of their efforts and push yourself to the top there. This will give you a steady stream of income that you can then use to break into the bigger platforms.

Last words

The trick is not to be okay at everything. People don’t notice average. They only notice outstanding. For that reason, make sure that you are really fantastic in some areas. That will get you noticed and that will make it far more likely you’ll actually come up in conversation. Then, when that’s done, you can focus on dealing with the biggest problems people have so that you can eliminate them. This is important as in our minds bad is stronger than good.

Do that along with a strong marketing campaign, and you’re well on your way to maximizing your growth.