Worldwide, the SaaS market is worth more than $ 145B.
Altar.io sees this behavior. We encourage and assist business owners and entrepreneurs to bring unique products and technologies to the market. Most of these are SaaS products.
What does it require to create a competitive yet profitable business in the SaaS space?
This article will give you my 5-step plan based on my experience building SaaS products.
1 Develop your value proposition
Determining the value it will bring to your employees is the first key to building a successful SaaS product just like Tradekey.com.
It all starts with your problem, the ones you solve, the competition in the market, and how your solution differs from other solutions.
Here is the process:
- First, identify the problem you want to solve.
- How can your SaaS product solve this problem?
- Who are your target employees? Is this where I support UX based on demographics, behavior and behavior?
- What are your target staff doing to resolve the issue? Know everything about your competitors and their plan in getting into the market.
- What makes your product better than a real solution? What do you have that is not currently available?
- Create a promotion level. Use all the information and create a clear sound that summarizes everything clearly and concisely.
2 Develop your main idea
At this point, your benefit plan has some ideas.
You think people have a problem and your solution is the answer.
List all your thoughts on this product.
Research is the best way to test ideas. To test your ideas, start by looking at your competitors to see if they have expressed those ideas.
You will want to support more by creating your own product. This is usually done using the MVP type, POC or liquid form.
3 Get your point across
Now you need to support the ideas made in the previous step. This is done by building the first version of your SaaS product. This is where I support the MVP type.
Use your to-do list to identify features that you will create so you can support them as quickly as possible.
Once you have a clear list of features, it is time to move on to the next level of development. Select your technology package.
If you are building an MVP, you should not focus on the minimum requirements.
4 How to choose the right technology for your SaaS product
Non-tech businesses should consult with technology providers before making any decisions about your SaaS offerings.
Following are some most important technologies that are often used in making a SaaS product achievable in the competitive market:
- Background development: Node.js and Django
- Databases: PostgreSQL, MySQL, MongoDB
- SaaS Hosting Providers: Google Cloud, Amazon Web Services (AWS), Microsoft Azure
5 Get connected to a development team
If you are a technology developer, or have built your own development team, thank you, because you now have all the tools you need to create your first SaaS product release.
For software development for your SaaS product, non-technical developers have three options.
You have two options: either take a CTO / tech discovery, take a team (you need to manage that team), or your partner in a software development company.
Once you have found a good CTO / Tech founder, hire them.
Hire professionals and experts in order to see thriving results.
However, finding the right person is always challenging. You have other options that can help reduce your time in the market. Bring professionals to the business who are committed to the highest standards of service.
Building a successful SaaS product can be a daunting yet thrilling task. If you have no experience in it, then you may definitely find it a difficult job. The best practice is to gather everything that requires understanding SaaS products closely. Also, make sure you are assisted by a leading yet professional SaaS product developer in order to build a competitive product from scratch.
Are you now convinced after reading the blog post? I bet you are ready to dive in and come out with a magical result. It is time to become a part of the ongoing competition in your niche. The best you can do is research and work on the tool and technology that gives you optimized results. Till then, make yourself comfortable in learning more so that you can come up with something bigger than ever.