Tips for Building a Successful SaaS Agency

The software-as-a service (SaaS) industry continues to grow fast and is showing no signs of stopping as more and more customers turn to cloud-based services. Businesses and startups are bawling with this trend as it has the best, most secured and accessible tools they can instantly implement. With SaaS, you do not need to lift a finger to run your business and attain success.

The SaaS industry revenues continues to explode and is projected to grow to USD85 billion this 2019 from USD49 billion last 2015 with a compound annual growth estimated at 8%. If you want to clamor for a slice of pie, now is the best time to run a software agency.

As the best software agency in Dubai, we at Loyica are giving you a few tips on how to build a successful software business.

1. Provide to fix a problem

Look for lapses in the market. Look for problems to be fixed and then figure out what software to build to solve it. Focus on listening to what potential customers are yearning, and not on convincing them to use your service.

2. Keep it simple

Customers want a tool that fix problems and makes their lives easier. By keeping your service easy to use and simple, more people will trust and depend on it.

If things get too complicated for an average person, they will immediately ditch your product. SaaS should advertise itself by being clean, highly intuitive, and self explanatory.

3. Always be improving

Your job is not over after rolling out an offering. New products and services are launched into the market daily. To keep your customers, you need to always improve your service to keep up with competitors and stay ahead of them.

4. Website design

Put effort into your website design. Ensure that it is eye-catching and is easy to use. Also, guarantee it is user-friendly for a more intuitive experience that will capture all types of users, no matter how they are good or bad with using technology.

5. Invest in a team

You cannot wear all hats at the same time.

Building software alone will not bring you customers. Although it might sell for a few people, you still need to market your product. You do not only need quality developers, you also need talents to manage customer service, a marketing team and someone to handle the finances.

When it comes into investing in experienced and skilled workers that can get the job done and deliver the best results, you’ve made a right decision. Remember, you always get what you have paid for.

6. Provide different packages and make sure it is affordable

Consumers today expect more affordable software offerings compared to expensive products. They even want it for free.

Many agencies offer software at lower prices by taking advantage of the cloud and providing different service packages. Offer the entry-point for free to deceive potential customers, but limit its function, volume, or time-allotment. Then offer 2-3 paid packages fitted to different consumer segment with different usability, return on investment and how they are willing to pay.

7. Flexibility

One-size-fits-all is honestly not the key. Even your clothes do not come in a one-size-fits-all. If you think that making your software a jack of all trades and expect customers to go for it, discard that thought. How can you develop different assistance for different audiences? Can customers choose the specific services they want?

8. Test and Improve

Test your software multiple times before releasing it into the world, even just an update for your users. If you test it prior to launching it, the lesser problems users will experience.

A simple test and gathering data on your software can still give you time to improve your service. Make sure you serve your customers the best product to gain their trust and loyalty. The quality of your software shows your dedication to your industry and especially to your customers.

9. Cultivating an ecosystem

Almost all successful software products have APIs which are open and flexible that allows seamless integration with third-party software. The better ones offer a plug-in market that allows the development and promotion of third-party plug-ins. Cultivating an ecosystem develops ‘a tit for tat’ in the software industry.

10. Always aim for your customer’s success

As a SaaS agency, it is your obligation is to grow and secure the recurring revenue from existing clients. Show your clients you are worthy of their trust, and you would not let them down.

Work to constantly monitor client’s usage levels, send them software updates and satisfaction surveys. Keep engaging with them and keep your ears open for concerns and suggestions.

11. Monitor your KPIs

SaaS agencies need to continuously check their key performance indicators. The essential measurements are the monthly recurring revenues, cash flow, churn rate, customer lifetime value, customer acquisition cost ratio, all-commodity volume/monthly recurring revenues pipeline and ACV/MRR per salesperson.