Software as a Service is an incredibly competitive and pioneering industry. So, companies find it difficult to acquire an edge. SaaS software space is growing 6.5 times as fast as the world economy. As the SaaS market is predicted to grow in future, here are six transformational trends to look out for in the SaaS industry to have an immediate advantage.
PaaS: Another Version of SaaS
To stand out in the crowd, companies have been shifting their attention to a different version of SaaS. In today’s scenario, people are shifting from customer retention to customer satisfaction. Platform as a Service (PaaS) allows users to add new services to their original product and increase its usage.
Artificial Intelligence, Machine Learning, and Chatbots
Artificial intelligence, machine learning, and chatbots are the new way to convert sales through automated on-site and off-site chats and relevant content. In 2018, personalization through marketing automation is used to nurture customers across buying process. Drop off alerts and triggers to reduce negative churn, dynamic pricing packages and predictive analysis are some of the upcoming solutions for SaaS marketing.
Social Proof Integration and Cloud Market
As a marketing strategy, SaaS companies are planning to integrate customer stories into their platforms. Thus, social proof integration is one of the transformational trends to improve buyer’s journey. In 2018, cloud solutions are expected to grow because of it's cost-effective, easily accessible, and inexpensive hardware setup.
Unbundling of SaaS
Nowadays, many startups have focused on offering their core service as an API and a suite of small tools rather than a full featured product. So, the companies package their software as an API and have a collection of add-ons. They avoid the traditional process of offering all features of the product which allows client to create their own UX.
Companies are using feature marketing to make their product stand out from others. Product and R&D teams are adding more layers, tools and widgets as additional features. Feature marketing is the new trend of product marketing where brands create parallel products and add value to their customers.
Micro-SaaS businesses are run by a small group, sometimes even a single person. The products offer complementary benefits that improve a missing feature, enhance original SaaS product or dominate niche business. As the SaaS matures, this Micro-SaaS business will engage more customers and be even more thriving.
Along with the above benefits of using SaaS, it can also be used in digital marketing strategies, e-commerce and many other applications. SaaS services like that of Gridle are a complete solution that will help your business stand out in the crowd.