Software-as-a-service has done so much for individuals and business organizations ever since the first products in this category were introduced.
Now that the market is growing with Microsoft leading the charge, tech brands will need to take launching their products seriously.
You won’t be the only one launching a SaaS product anytime soon. There’s a good chance that younger developers will come up with more advanced platforms that are meant to transform your industry or niche.
No matter how sophisticated a product you have, launching it properly will guarantee your survival in this highly saturated market.
For that, you will need the guide below to teach you the ways to launch your SaaS product at a higher success rate:
1. Set Milestones
Setting up key performance indicators that will tell you whether your product is moving in the right direction is crucial before launching.
Tracking them will help you realize what your SaaS offer lacks and how you can optimize your campaign toward greater visibility.
For this, each indicator must align with the overall goal you would want to accomplish.
If you have a definite revenue target in mind, know what metrics are crucial in analyzing profitability.
2. Create A Unique Offer
The secret to launching a SaaS product lies in how well you understand the needs of your target audience.
If you have a B2B product that’s designed to help e-commerce brands generate qualified leads, then you might want to highlight your product’s potential for helping these brands reduce their lead acquisition costs and increase sales conversions. Be specific with the kind of results your product could bring.
3. Get Help With Your Marketing Funnel
You will need to come up with an effective marketing strategy prior to launching your product.
It helps if you could come up with a marketing funnel that specifies how you raise brand awareness, generate leads, nurture prospects, and set them up for a sales appointment.
When creating a funnel, make sure you have a Google Ads consultant, SEO expert, and social media specialist on board to help you craft a strategy that’s guaranteed to draw in motivated subscribers.
4. Create An Onboarding Process
Building a system for turning leads into customers is not even half of the work that’s required for a successful product launch. You will also need to figure out how customers will navigate the platform.
In short, your product should be friendly to your target audience, especially if they happen to consist of younger and older demographics with minimal knowledge about using the software.
Without an onboarding process, customers would cancel their subscriptions and share their bad experiences with it.
This is why you need an onboarding process that features a free trial phase, tutorials, and resources that allow them to use the product successfully.
Doing this properly will help improve user experiences and extend customer lifetime values.
5. Listen To Reviews And Testimonials
The first few weeks of launching your SaaS product would be the most brutal.
Why? There’s always a sense of uncertainty over how well your customers perceive the product.
But whether it gets high praise or depressing disapproval, you will need to consider all feedback as valid.
The information you get from the ground will provide you with the necessary insights you need to refine your offers.
Using these insights allows you to develop a customer’s voice. This includes the benefits and features your audience wants as well as the kinds of problems they wouldn’t want to encounter while using your product.
Getting a good feel of public sentiments about the SaaS products that already exist is beneficial in that you gain an idea of the perfect offer.
6. Track The Metrics That Matter
Launching your product isn’t the end of the hard work you put into your offer. It matters a lot to know how it catches on within the first few weeks.
Knowing whether it’s a success or not fills you in on what to do with your next launch. More importantly, keeping track of your success helps you zero in on the optimizations that matter the most.
Determine your key performance indicators and see how each one contributes to the long-term success of your SaaS product.
If you’re seeing abysmal conversion numbers, that will tell you if you’ve missed out on a few features that your audience really needs.
Keeping track of the most important metrics will help you make better decisions that lead to better returns.
When you’re launching a SaaS product, doing it right will help you steer clear of time-consuming and costly mistakes. The tips above should help you get started.