Six Key Tips for A Successful SaaS (Software as a Service) Startup
There are plenty of software engineers with great ideas and platforms to sell to customers who would use them. But that means the stakes are high for startup SaaS (Software as a Service) companies. Here are some tips for success.
1. Hold Leaders Accountable.It’s important for a leader to understand the SaaS as a relationship-building business rather than simply a piece of software. The leader then needs to understand what the life cycle of the business will look like. How the company’s metrics will evolve and how he or she can instill responsibility along the way for those metrics.2. Know What Your Customer Want. To be successful, the SaaS needs to really understand what their customer wants. As a product that’s quickly developed and delivered to the customer, it also has high competition with other startups and brand names like Amazon.com or Google.
3. Now That They Want It, Make Them Need It. Create incentives for your customers to take the first step. Offer a free trial, a lite version, or beginning perks to place your SaaS above the other startups. Incorporate your customers in the startup momentum by involving them in crowdfunding for the beta version of your SaaS.
4. Remember you’re Not Selling Software. You’re selling a service, which comes with a reliable brand, enthusiastic customer service, and updates to the changing needs of your customers. Test your ideas around pricing with a small set of customers to be able to serve your wider customer base.
5. The Religion of Renewal. Your customers need to keep coming back, which means you need to keep coming to them. Offer user-generated forums to incorporate your customers in solutions. Create specialized consultants for troubleshooting and help so that customers feel there’s a hand helping them through each step. Ask for feedback.
6. Keep a Tight Wallet. Before taking the first step, know exactly what you’ll need. Seek creative solutions for finding that funding, like crowdfunding through websites like indiegogo.com or kickstarter.com. Then focus on your renewals. They will keep your business going. Implement automated pay tools for a steady source of funds.
Don’t believe it? Check out LetsMeetAtJoes Indiegogo.com campaign, a Software as a Service startup that’s using these tools to get going.
Have more questions? Or want to share your own tips and tricks? Contact us.