The Software-as-a-Service (SaaS) market is growing rapidly in the past few years. And according to the predictions, it is only going to expand as more and more individuals and corporations are utilizing it. The top SaaS applications or products focus customer behaviour that makes the product sales extremely well and, hence successful. SaaS is already winning in the cloud computing market where it is expected to be worth $143.7 billion by 2022. It helps companies to make their business processes cost-effective, reduce customer acquisition and boost efficiency. It is only evident how the SaaS trends are going to make business scale in a short amount of a time. But you need to be aware enough to take this boat. So here we accumulated the 7 top SaaS trends that you need to follow in 2021 to make your product successful.
Product-led growth ( PLG) is a business methodology that allows engagement, customer acquisition, sales conversion and customer retention all driven by the product itself. The idea is to develop coordination across the company’s different verticals ranging from product development to marketing. Businesses can utilize this data and insights to apprehend the customer behaviour and predict the potential issues before it hits them. Product-led growth is highly efficient and compelling business methodology to ensure the success of the business across various aspects.
One of the potential SaaS industry trends is known as micro-SaaS that is definitely going to rule 2021 software-as-a-service sector. More innovations and penetration of larger players in the SaaS arena is saturating the market making the competition more intense. SaaS companies are challenged to find new ways to bring innovations in the market and give more value. They also need to bring new customers more easily with less cost. This gave birth to the increase in the number of micro-SaaS innovations. A micro-SaaS business is usually run by a small team, sometimes even with one or two people. Micro-SaaS offers products that are usually complementary or add-ons on different platforms. It works more as an improvement or development, even like a feature to increase the efficiency of the existing SaaS product.
Customers are more flexible when they are offered usage-based pricing for the SaaS products. It allows them to choose the specific features they want and pay for only what they want to use or going to use. One of the simplest and minor changes aligned with SaaS trends 2021 business can change within is the usage-based pricing. Customers or clients get this “pay-per-use” model that allows them to cut costs and extra expenses from their business.
Artificial Intelligence and machine learning are the two primary role-players in future developments of SaaS. It is creating the SaaS towards an highly efficient autonomous self-learning upgrade technology. AI already proves to be a revolutionary technology entering in almost all aspects of digitization whether it is business solutions, consumer market or web development. It is projected to be the value of $737 billion by 2027. The technology brings personalization, voice control, improved customization, fast processing, enhanced security and so much more. Machine Learning (ML) is more like a subset of AI that proves to be highly successful in automating responses in SaaS applications. Both Artificial intelligence (AI) and Machine Learning (ML) one of the fastest-growing of SaaS trends in 2021.
Vertical SaaS offers complete customization where it targets the client within particular industries and supply chains. For example, Retail analytics, healthcare analytics or modern logistics analytics are great applications of vertical SaaS. Vertical SaaS is a game-changer for companies that are looking for specialization. It gives them cost-effective options and customization for the specific industry. It also gives more flexibility, better upselling opportunities and lower customer acquisition costs.
According to CNBC, more than three-quarters of the world will be using smartphones by 2025. The workspace needs to adapt the mobile-first approach including the SaaS products as well. More and more companies, employees and individual entrepreneurs are adapting the mobile SaaS solutions. These are customized solutions for mobile usability that streamline the business process in much more efficiency. Mobile-first approach is the critical part of the current business SaaS development. The future of SaaS software as service companies very much relies on mobile usage, so this trend makes much more sense to be upscaling in 2021.
A large significant part of trends in the SaaS industry is data-driven. When you digitally transform businesses, it promotes the data to streamline their company with gaining critical insights on the customers. So, centralized analytics plays a crucial part in the SaaS models. In fact, according to industry experts, the value of the central analytics system in the SaaS model will rise by 23.3% by 2022. With the help of centralized analytics, users can discover hidden insights and information with their modern solutions such as performance dashboards. Every person has access to this data from any device remotely helping to grow the business at a faster pace.
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