Launching Saas Product
Launching and selling software product has been challenging and fun. When you’ve developed a nice tool that solves a specific problem for a defined group of people, getting clients up and running is a rush. Our mobile compliance app Action Card has been a great experience. We knew we had an innovative idea in mobile compliance reviews early on as we talked to our networks and some local franchises and multi-location companies. Throughout the development of Action Card, feedback we received from our beta-test group helped us immeasurably. We added features, fixed bugs and got better at talking about the app. Sales and marketing will always present challenges as we continue to study our client behavior and discuss how to scale growth and continue to make the app more user-friendly. However the next big test is upon us.
A recent blog by Open View Partners states the next big challenge in software as a service development perfectly. “Snagging new customers is one thing, ensuring that they become active, long-term users is another.” The writer notes that communication with the client is key, but goes a step beyond that. “However, to be truly effective, user adoption has to be a cross-departmental effort. Specifically, that means that a company’s product development, customer service, and marketing teams must partner to:
The prevalence of cloud-based software solutions and mobile app technology has created a wealth of options for businesses and consumers It has also challenged software developers to create easy to use applications that even the most technologically challenged can quickly use and incorporate into their daily habits. For businesses, the technology must make life notably easier for the user and even easier to learn. Often the best features to a software application are the ones left off.
What Does Success Look Like?
Interestingly, a growing number of businesses feel that Saas development and sales it is not all about client retention. Lincoln Murphy with Gainsight writes about a new metric, DDR or dollar revenue retention. DDR is revenue renewal values which is basically not a measure of clients gained versus clients lost but a look at up-sells, cross-sells and additional charges for expanded use of your app. When your product is tiered in pricing and service, it is possible to lose customers and increase Saas revenue. Therefore it is good to see who drops off, when and for what reasons and who is becoming more engaged with your product. Is DDR the better measurement for success in Saas sales? Not necessarily, however Murphy makes a valid point;
…If you’re losing customers (even if you’re growing revenue with the remaining customers), something is wrong.
It might be that you are:
Ultimately, losing clients is a bad thing. The importance of interacting with your customers and soliciting feedback from them will help you gut check your theory on the application’s value and utility. Successful mobile app sales will have low churn and high rates of user interaction.
June 13, 2023
Data is like a vast set of building blocks, each has different shapes, sizes, and colors. Just like each brick has its unique utility, every piece of data carries a unique piece of information. As a business owner, how can you possibly start understanding what all the pieces of data from those fancy reports mean? […]
June 2, 2023
For small manufacturing companies with less than 100 employees and revenues of around $20–50 million, several key factors contribute to their success. Here are some important considerations: By focusing on these key factors, small manufacturing companies can enhance their competitiveness, achieve sustainable growth, and maintain profitability. It’s important to adapt these factors to the specific […]
June 1, 2023
Several years ago, I was working on a product that required some attention from the software product teams. This happens to all software over time because a user’s needs change, features need to be added, and bugs happen (naturally). The undertaking was large enough, so our team agreed it would be ideal to talk with […]
May 30, 2023
There’s an ongoing debate: custom software versus off-the-shelf Software as a Service (SaaS). A few misconceptions tend to cloud everyone’s judgment and influence decisions in this area. It’s time to put these myths to rest and bring clarity to the conversation. Myth 1: Custom Software is Outdated Custom software is inherently outdated, which couldn’t be […]
March 15, 2023
Why continue to utilize a mess of spreadsheets to run your operations? We think there’s a better way. Here are the top 7 reasons you should switch to custom software.
February 3, 2023
Wait. What’s the problem again? Several years ago I was working in Healthcare for a tech startup. At the time, healthcare systems could not bill patients until a chart was signed off and locked by a provider (MD, PA, or NP). The provider had to step through every single screen and check a box regardless […]