The 21st century has brought a significant paradigm shift and people are now more interested in entrepreneurship and starting their own business, rather than working a 9 to 5 job at some already established organization.
This paradigm shift is majorly seen in the IT sector and many new software houses and software-based services and products are being launched and making the lives of their consumers easy.
Starting your own software house or a SaaS business can sometimes be tricky. You might not know what SaaS product you should go on the market with, but there are already similar products available and you need help finding that unique selling point for your product.
If you are one of those people who are looking for innovation and ideas that can be used to start your entrepreneurial journey then you are at the right place. Today we will be discussing some amazing SaaS products that you can work on and make your and other people’s lives better.
What is a SaaS product?
The very first question that comes to your mind when you hear the word SaaS product is, “what is a SaaS product?” SaaS stands for Software as a Service. SaaS products are can be understood as online or software-based services that an individual or an organization provides to its customers. These services are charged a subscription fee which the customer will have to pay every month, bi-monthly, or depending on the client-seller agreement.
Some SaaS platforms do not charge their customers any fee but rather make their money by displaying advertisements on their platform and by offering ad-free premium subscriptions.
While the customer may be liable to pay for the services that he is receiving, the seller is also liable to maintain the database, servers, and any additional software and services required to provide a seamless experience to the client.
There are two types of business channels, one is B2B which means Business to Business and the second channel of business is B2C which stands for Business to Customer. SaaS platforms usually work on a B2B base providing other businesses with useful business tools to make their work easier and smooth. While some SaaS products do work in the B2C channel as well, ab that is a very rare occurrence.
SaaS Products Ideas
Now that we have familiarized ourselves with what a SaaS product is and how it earns money let’s move on to the next part, which is discussing SaaS product ideas.
Every business has some parts that when working together, will make a business grow. These segments can be administration, accounts, sales, customer support, marketing, and many more. You can create individual SaaS products for each of these departments.
Now let’s look at some major SaaS products that you can work on.
One of the most important elements of a successful business is its customers. Every business invests a huge amount of money to acquire new customers and to provide adequate support to existing and potential new customers.
Modern businesses can’t function without the popular tool of customer relationship management software. Its primary goal is to improve performance by integrating various company departments into a single system. These online tools assist in streamlining the organization of your notes, metrics, and other tasks.
Although there are many similar products that are available in the market you can still create a tailor-made CRM that caters to the specific needs of a business.
Sales Tracking App
Sales are also a very important factor for any business’s growth. It can be hard to keep track and records of all sales. But it is very important to do so. Creating an app that will not only be able keep track of all the sales but also provide performance reports and other vital information based on market trends.
Finding a sales tracking app that perfectly suits a sales team’s needs is difficult. You can research the market, contrast the top apps, and provide your own, ideal solution to create the best tool.
Another important part of a business is payment gateways. Today, this industry is at the height of its success. There aren’t too many solutions, though. If you are knowledgeable in this area, you could create a universal payment system that would accept numerous payment options, including credit/debit cards, bank transfers, mobile carrier billings, etc. Your new venture will be successful if it can assist vendors in resolving various financial problems.
Ineffective marketing is one of the causes of startup failure.
In this fast-paced era, automating emails, SMS, and other channels is beneficial. And platforms that enable marketing automation provide practical solutions that can tighten marketing strategies and streamline workflows.
The market for SaaS marketing is fiercely competitive, but so is the competition. It is sufficient to hold even 1%–3% of the market to create a huge and prosperous business.
So these are some of the SaaS product ideas that are easy to make and can be very useful and productive if you wish to start your entrepreneurial journey. I hope you find these helpful.