SaaS strategy by devabit

How to Build a Winning Digital SaaS Strategy

The SaaS industry has already been around for more than a decade, and its adoption is increasingly ubiquitous. 73% of organizations have at least one app or portion of their infrastructure in the cloud, according. Furthermore, Gartner claims the SaaS market to be worth $143.7 billion by the end of 2022. The secret lies in the agility and cost-effectiveness of basically any SaaS strategy. The past year was a breakthrough year for the SaaS world in many ways. With the new 2023 year on the horizon, let’s discover how to ground a perfect digital SaaS strategy.

SaaS Strategy Step 1: Integrating API Connections

API (Application Programming Interface) has been an integral part of software development for years. The technology is meant to assist integration between various systems. With the mass adoption of SaaS strategies, companies began facing a growing need for API integrations.

At first, SaaS providers failed to serve quality integrations, so their customers had to look for third-party apps. However, nowadays, the former aim to shorten time-to-market frames and develop product functionality instead of redirecting users to third-party solutions. Benoit Lheureux, VP at Gartner, called integration a basic requirement every IT project should meet.

Therefore, APIs are forecasted to become the next big SaaS wave.

Some API integrations your winning SaaS strategy might need:

  • Authentication, authorization, and user management API
  • Operational datastore
  • Usage metrics collection and logging

SaaS Strategy Step 2: Focusing on a Vertical Approach

The SaaS industry has centered around the horizontal market strategy for years. This means vendors were aiming to serve as many sectors as possible with the same solutions. However, now the rising number of SaaS providers is moving towards the vertical approach. Fitting solutions for certain industries eventually brings more benefits to all market stakeholders.

In fact, Gartner claims vertical-specific software has represented the largest economic segment of the world software market since 2014.

SaaS strategy: Analytics by devabit

The benefits of vertical SaaS strategy:

  • Customer intelligence (companies obtain industry-specific data, and customer-focused insights)
  • Business value (better operational efficiency and performance)
  • Pre-defined metrics and KPIs

SaaS Strategy Step 3: Migrating to Platform as a Service Model

After a certain level, the focus of SaaS providers switches from customer acquisition to user retention. That said, many SaaS strategies suggest migrating to PaaS (Platform as a Service) model. One example of such a switch is Salesforce and its recently launched Force.com platform.

Key advantages of PaaS solutions:

  • Customization, advanced features, and functionality that increases the overall business agility
  • Security
  • Scalability, robustness, and flexible offer.

SaaS Strategy Step 4: Switching to a Mobile-First Mindset

Three fourth of the world population will be surfing the internet using mobile devices by 2022. Consequently, there is no chance for technology companies to ignore the SaaS strategy for mobile.

Previously, mobile-first companies succeeded in the sectors of productivity apps, for example. Yet it was still hard to win the market in terms of marketing, sales, etc. Currently, many messaging apps, such as WhatsApp, are transitioning to mobile platforms. This encourages other mobile SaaS solutions as well.

SaaS strategy: Mobile-fisrt mindset by devabit

SaaS Strategy Step 5: Building Ecosystems

In recent years, the SaaS market moved towards creating and offering full ecosystems instead of products. Companies do not want to buy standalone applications anymore, they are eager to get solutions or ecosystems – groups of products and services that fit together. Thus, the focus is switching from building the best product with the best functionality to operational data and fitting the app into the data’s journey around the enterprise.

As a result, users get more demanding of their SaaS products, and well-functioning integrations are a must.

Make Your Digital SaaS Strategy Work

The increasingly digital nature of business requires companies to build strong technical expertise. devabit has a long background in driving SaaS strategies across many industries. We offer many ways of pursuing strategic goals and achieving a competitive edge. If you are searching for the right outsourcing vendor, contact us, and we will immediately provide you with a tailored SaaS strategy to empower your business.

Relevant Articles View all categories

View all Articles

CONNECT WITH US WE’RE READY
TO TALK OPPORTUNITIES

THANK YOU! WE RECEIVED YOUR MESSAGE.

Sorry
something went wrong

One of our consultancy experts will get in touch with you shortly.

Please visit our portfolio to know more about us and the solutions we provide.

Please try again later
Please enter a valid value
Please enter a valid value
Please enter a valid value

We will add your contact details provided in this form to our CRM for contacting you with regard to your request. For more info, please reach out to us via info@devabit.com

Contact image
Contact devabit Contact devabit