Check out our mention on Built In's list of SaaS companies to know...and yes, we are hiring! https://lnkd.in/eshVeGRU
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It's no secret that the SaaS industry is booming. With an expected market value of around $195 billion by the end of this year, now is the time to dive into this space or risk being left behind. Unlike traditional software, which often involved lengthy installations and cumbersome updates, SaaS products offer instant access over the internet, making them not just user-friendly but almost essential in today's fast-paced business environment. What's the takeaway? The days of slow software deployment are over. Businesses are demanding more agility, and those who can't adapt will fall prey to the competition. Founders and marketers alike need to recognize that understanding the unique dynamics of this market isn't just beneficial, it's crucial. If you're looking to launch or grow a SaaS product, knowledge about sales strategies and marketing channels is non-negotiable. For those wanting a detailed understanding of the SaaS model and tips to succeed, check out my newsletter 5 Minute Founders. In under 5 minutes, you can absorb the insights of an entire business book. Don't take chances in this lucrative yet competitive landscape—be informed and be ready. What are your thoughts on the SaaS industry's trajectory? Are you ready to embrace the shift or still clinging to outdated models? https://lnkd.in/eNabZW7e
SaaS: The Ultimate Guide to Software as a Service
blog.hubspot.com
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We've been building a new tool (SaaS) at Nevron for the past three months. While I can't share a lot of details right now, I have compiled some of my thoughts and learning into a blog post. I will try to write an update every week 😅 🔑 Here are my key takeaways: 1️⃣ When you give a demo and you have a feature that isn’t developed yet but might be beneficial to your client, mention that feature and explain how it works. 2️⃣ Focus on good planning when juggling client work and internal projects. 3️⃣ Your team needs to align with your vision. Make them understand WHY you are building this and HOW it will help. 4️⃣ Giving demos of this project actually got us new clients. It’s a great way to showcase what you can do as a team. 5️⃣ You will already have thought about the ideas and features people come up with. Don’t tell them that. If you do, they will try to come up with things that others haven’t thought of and usually those ideas are not good. Instead, write them down and thank them for the idea. When many people point out the same thing, you should focus on building that next. https://lnkd.in/eaxkGwXY
Update #1: Building a SaaS - Tony Kyriakidis
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Better late than never! ⏳ 🚀 2023 may be over but the deals are not. 🤑 If you missed out on the New Year deals, here’s your cue to restore calm. Dive into our SaaS Deals RoundUp blog and find some of the best offers for your next SaaS purchase. ✨ Select SaaS deals at Better-than-Ever Prices for a Limited Period Only! 💯 Check out: https://lnkd.in/ggCD3iyP #newyear2024 #saas #deals #2024trends #saasltddeals
Best New Year 2024 B2B SaaS Deals - Wisemonk - Hiring, Employer of record & Equipment as a service platform
wisemonk.io
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Tech Marketing Pro | software exec, serial entrepreneur, writer — AI, Cybersecurity, SaaS, Healthcare, and more
Sure, SaaS and cloud-based systems offer a lot of flexibility and cost savings over the old systems. But the growth and variety of what’s available means you can wind up with a lot of abandoned and zombied solutions haunting your budget. If you’re a marketer at a small-to-medium business, a regular SaaS "exorcism" is always a good idea. #cloudservices #marketingbudget #SaaS #wastenot #zombiedsystems
Ghosts and Zombies Everywhere
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💰💻📈 Check out the top 7 cheapest SaaS services that offer great value for their price and take your business to the next level! 💼🚀 #SaaS #affordable #businessgrowth #tools #value #getahead
7 Affordable SaaS Subscription Services to Streamline Your Business Operations
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As the SaaS industry grows, so does the list of costly mistakes founders often make. And it's often at great cost to their businesses and aspirations. Here are 6 common mistakes SaaS founders make and how to avoid them: 1. Making the Product Too Complicated It's tempting to load your SaaS product with every feature imaginable, but this often backfires. Too many bells and whistles overwhelm users. Start simple. A clear, straightforward product wins over a complicated one any day. 2. Setting Poor Prices Finding the right price for your SaaS product can be tricky. Price too low, and you undervalue your offering. Price too high, and potential customers might not see the value. Look at your competitors and aim for a balanced approach. Remember, pricing isn’t set in stone—you can adjust as you go. 3. Lacking Strategic Focus Trying to capture the entire market can spread your resources thin. Instead, zero in on a specific niche. This allows for a stronger brand presence and better resource management. It’s better to dominate a niche market than to be a small player in a large market. 4. Neglecting Customer Onboarding Even the simplest products need effective onboarding. Don’t assume users will figure it out on their own. Invest in a comprehensive onboarding process and provide ample training resources. This ensures users don’t get frustrated and leave, reducing churn rates significantly. 5. Ignoring Customer Feedback Confidence in your product is essential, but ignoring customer feedback is a huge mistake. Many successful SaaS products evolved by listening to users. Pay attention to what customers are saying and be ready to pivot if necessary. Their insights are gold mines for improvement and innovation. 6. Weak Marketing and Branding A great product needs a strong market presence. Build both a personal and company brand that resonates with your audience. Effective marketing isn’t just about selling a solution; it’s about creating a connection with your customers. Make your brand a part of their identity. The concept of "user delight" can be more impactful than just solving problems. Many SaaS founders underestimate the impact of customer-centric strategies on long-term growth. Don't fall into this trap. Prioritize creating great experiences and building strong relationships. Success in SaaS isn't solely about having a great product—it's about delivering and marketing it effectively. How do you implement strategies to scale your SaaS business successfully?
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Software as a Service (SaaS) Cheat Sheet We’ve worked with dozens of SaaS founders over the last few years helping them understand their business, report to investors, and raise capital This is everything we know about the space 👇 ➡️What does SaaS mean? SaaS stands for Software as a Service, which means the end product you are selling to customers is software… This can be different from a company for example who is selling widgets Many companies in today have some sort of SaaS component with what they are selling ➡️ How does the business model work? With SaaS, it’s very common to charge customers on a recurring basis. The 2 phrases you may have heard on this are: MRR → Monthly Recurring Revenue ARR → Annual Recurring Revenue ➡️How do you calculate MRR and ARR? Using MRR as an example, take your opening balance, and then layer in: New MRR → recurring income from new customers Churn MRR → lost income from customers who opt out entirely Expansion MRR→ added income from customers who are already active Contraction MRR → reduced income from customers who are still active ➡️Why do Investors love SaaS? 1️⃣ High Margins - SaaS companies often times have margins well above 90% 2️⃣ Predictability - SaaS often leads to recurring income, which can lead to strong predictable revenue 3️⃣ Low churn - because of its recurring nature, SaaS companies often times experience low churn…especially if customers are subscribed to annual plans ➡️ What are some Common Costs with SAAS? 1️⃣ Cost of Goods Sold → Web Servers and Hosting, Customer Support 2️⃣ Opex → Research & Development, Sales & Marketing, Customer Success ➡️ What are some Common ways to Forecast SaaS Revenue? 1️⃣ Via Sales Reps - sales reps * a ramp up period * net quota = new sales 2️⃣ Via Digital Ad Spend - ad spend * conversion rate = new sales 3️⃣ Via Partnerships - new partners * monthly referrals per partner = new sales ➡️ What are some things to be careful of with SAAS? 1️⃣ SaaS can require a very heavy upfront investment in R&D 2️⃣ SaaS can be very competitive 3️⃣ SaaS can require a large amount of customer support 4️⃣ Set up Fees & Implementation fees, and customer pilots are not a part of recurring revenue 5️⃣ Tech development is not part of cost of goods sold ➡️ What are some common SaaS Metrics? There are so many covered here. Check out the infographic below 📣If you’re a SaaS founder who is in need of getting a grip on your financial data, we’d love to show you what we can do. 📣 Learn more here 👉https://bit.ly/47dbyWR
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Software as a Service (SaaS) Cheat Sheet We’ve worked with dozens of SaaS founders over the last few years helping them understand their business, report to investors, and raise capital This is everything we know about the space 👇 ➡️What does SaaS mean? SaaS stands for Software as a Service, which means the end product you are selling to customers is software… This can be different from a company for example who is selling widgets Many companies in today have some sort of SaaS component with what they are selling ➡️ How does the business model work? With SaaS, it’s very common to charge customers on a recurring basis. The 2 phrases you may have heard on this are: MRR → Monthly Recurring Revenue ARR → Annual Recurring Revenue ➡️How do you calculate MRR and ARR? Using MRR as an example, take your opening balance, and then layer in: New MRR → recurring income from new customers Churn MRR → lost income from customers who opt out entirely Expansion MRR→ added income from customers who are already active Contraction MRR → reduced income from customers who are still active ➡️Why do Investors love SaaS? 1️⃣ High Margins - SaaS companies often times have margins well above 90% 2️⃣ Predictability - SaaS often leads to recurring income, which can lead to strong predictable revenue 3️⃣ Low churn - because of its recurring nature, SaaS companies often times experience low churn…especially if customers are subscribed to annual plans ➡️ What are some Common Costs with SAAS? 1️⃣ Cost of Goods Sold → Web Servers and Hosting, Customer Support 2️⃣ Opex → Research & Development, Sales & Marketing, Customer Success ➡️ What are some Common ways to Forecast SaaS Revenue? 1️⃣ Via Sales Reps - sales reps * a ramp up period * net quota = new sales 2️⃣ Via Digital Ad Spend - ad spend * conversion rate = new sales 3️⃣ Via Partnerships - new partners * monthly referrals per partner = new sales ➡️ What are some things to be careful of with SAAS? 1️⃣ SaaS can require a very heavy upfront investment in R&D 2️⃣ SaaS can be very competitive 3️⃣ SaaS can require a large amount of customer support 4️⃣ Set up Fees & Implementation fees, and customer pilots are not a part of recurring revenue 5️⃣ Tech development is not part of cost of goods sold ➡️ What are some common SaaS Metrics? There are so many covered here. Check out the infographic below 📣If you’re a SaaS founder who is in need of getting a grip on your financial data, we’d love to show you what we can do. 📣 Learn more here 👉https://bit.ly/47dbyWR
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🚀 Discover the power of Software as a Service (SaaS)! 🌐 With benefits like cost-efficiency, scalability, accessibility, and automatic updates, SaaS is revolutionizing the way we use software. Learn how it can transform your business. #SaaS #CloudComputing #TechInnovation #BusinessGrowth - https://lnkd.in/eeR5cTcC
Software as a Service (SaaS): A Comprehensive Guide
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What Is Self-service in SaaS? https://lnkd.in/eEU8qtUX As a Professional Employer Organization (PEO), you are in a great position to offer both a traditional service-oriented option and a self-service alternative Human Capital Management (HCM) option for clients ready to take their HR in-house. That may sound like a scary proposition for PEOs that are used to doing just about everything for their clients. Doesn’t self-service mean less service and low margins? Not necessarily. Self-service doesn’t mean you don’t offer any service. It’s important for you to be reachable if your clients run into issues, but there’s nothing wrong with allowing users to get answers quickly on their own either. That benefits both sides. Going the extra mile is still essential. The focus is on providing reliable solutions that allow customers to find the information and support their needs without relying on your team. Actually, PEOs were early adopters of self-service tools. Just think about the onboarding process; the software does the heavy lifting there, not the PEOs. Self-service is an important differentiator for PEOs and is critical to a successful HCM rollout. As we’ll discuss in a future blog, self-service helps PEOs and clients reduce stress and operating costs while improving margins. SaaS = Efficiency According to industry experts, over 70% of software used by businesses are SaaS applications, attracted by their convenient features, easy updates and scalability. Mailchimp—a cloud-based all-in-one marketing platform with an email marketing service—QuickBooks and Zoom are good examples. PrismHR and PrismHCM are also SaaS platforms. One recent example of self-service in SaaS is Microsoft Corp.’s Copilot solution. This new generative Artificial Intelligence (AI) experience is designed to help users not only generate ideas and content but also to answer questions quickly about Microsoft products without having to wait for answers. Copilot allows users to take off on their information journeys instantly without having to wait for any direction from the “control tower” if you will. More and more software companies are moving to a self-service SaaS model because consumer behavior is changing. As far back as 2017, the Harvard Business Review noted that 81 percent of users attempt to solve software issues before seeking help. The self-service concept isn’t unique to software either. Think of taking money out of an ATM or pumping your own gas. You don’t even give it a second thought these days, but it wasn’t always like that. In our modern world of instant gratification, it’s no surprise SaaS self-service has become the new standard for software deployment. The days of sending emails to support teams or waiting on pushing button after button to get a human on the phone line are not gone but are not as common. People are tired of waiting around for answers and don’t want to be interrup...
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