The Software as a Service (SaaS) market has grown considerably over the past few years. It is expected to expand as more individuals and corporations become aware of SaaS’s varied range of benefits. Customer success is heavily focused by SaaS these days. SaaS products drive user behavior. It contributes to a business landscape that rewards strategic flexibility while designing product and marketing strategies.
To maintain business growth and prioritize product-led growth, it is essential to consider the current digital SaaS trends and take advantage of them in 2021.
Here are some SaaS trends you should look forward to-
Firstly, Ranking top in our list of SaaS trends is the increasing use of sophisticated artificial intelligence (AI). Artificial intelligence is no longer in the native phase. It has taken over the entire corporate world by storm, opening up horizons that were previously profound. Leveraging AI into the SaaS solutions brings enormous advantages and is disrupting how the business process usually works. AI can automate redundant tasks more efficiently while augmenting human capability.
According to CNBC, three-quarters of the world will use smartphones to access the internet by 2025. As the workforce becomes more mobile, corporations and employees will seek out mobile SaaS solutions that are custom-built to streamline business processes and boost efficiencies. Mobile is the current promised land for business SaaS development. This paradigm shift in mobile usage has led to high demand for SaaS solutions with robust and function-rich applications.
With usage-based pricing, customers are given the flexibility to choose the features they want, paying only for what they use. This “pay-per-use model” gives clients unparalleled benefits and the ability to trim expenses wisely for instance.
Product-led growth (PLG) is a business methodology in which user acquisition, engagement, conversion, and retention are all driven by the product itself. It creates company-wide coordination across verticals- from development to sales and marketing around the product. Tracking and measuring product usage is vital for PLG. Customer Success and product teams can use this data and actionable insights to understand customers’ behavior and identify possible hurdles before they arise. It is a compelling approach, and more organizations are switching to PLG strategies every day.
The Rise of Micro SaaS
MicroSaaS comprises small complementary tools like extensions, add-ons, and plugins and can be customized according to their needs. Therefore, Micro SaaS solutions require small costs and low overheads. This has stimulated the massive growth of MicroSaaS solutions.
Customers seek mutual relationships from brands. Similarly, they expect brands to understand their motivations and want to be valued individually for their purchases and loyalty. Looking forward to 2021, smart businesses should adjust their business strategies to meet the modern customer’s needs and expectations. This is the year to build meaningful and trustworthy relations with your customers. Customer-centricity starts with responsibility, clear communication, and honesty.
How SaaS Trends Affect Your Business Strategy?
In conclusion, The race to leverage SaaS solutions into the business world is intense. Therefore, the SaaS trends we’ve just discussed will propel the industry to new heights, that’s for sure. You cannot afford to miss out on the benefits of SaaS. The first step to making the most out of these SaaS trends is equipping your business with the right software tools. As we discussed in the beginning, SaaS products drive user behavior and provide you with actionable insights for devising product and marketing strategies.
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