How to stand out from the competition with a SaaS solution?
by Nicolas Jacobeus, on 10 October 2019
New technologies have obviously made creating high performance products easier than ever and every sector now has to contend with fierce competition. Not a day goes without some new company entering your commercial space and encroaching on your market share. Your product urgently needs to stand apart from the competition and transform into a SaaS solution. Here’s how.
1 - Design a unique product
Here’s an edifying discovery: most companies simply follow along and try to copy the leaders. Under these conditions, it’s impossible to dominate the market. To stand out from the competition, it's better to have a bold and unique product that is different from all the others. The tool or service offered must be designed with the user in mind and not the managers who will be buying it or the engineers who developed it.
2 - Acquire an exact understanding of your customers and stakeholders
Everyone prefers to buy a product that gives the impression that it was custom designed for them. You therefore have to understand who your ideal customer is in order to create a unique product, This will allow you to make bold choices that will make you stand out and create a powerful identity with which customers can identify.
You also have to identify who your main partner is within the customer's organization. Is it the founder/decision-maker, a senior manager, the engineering teams, support or marketing? Is it better to produce a product that appeals to those who hold the most decision-making power when it comes time to purchase your product or a product for the people who will spend most of their time using it?
Once this preferred contact is identified, make sure that he or she always has the impression that their needs are your number one priority.
3 - Develop a brand with an emotional connection to your customers.
You should recognize right now, if you haven't already, that human beings generally make decisions based on emotions and not necessarily on the the facts. To stand out, you have to inspire confidence and make your customers feel what they yearn to feel. By forming an emotional tie with your customers, you can offer them more than tools. The most powerful means to do this is through content marketing: based on your own experience, publish articles that distill the essence of actual, honest and practical advice whose readers will have no problem immediately visualizing the results.
4 - Be competitive based on value and not on the price
It idea of offering the least costly software in an attempt to beat the competition is an attractive one because it is guaranteed attract to anyone interested in saving money. However, the lower the cost of your product, the more you have to run your business with very thin profit margins: this means you may have trouble satisfying your customers when it comes to quality. It is better to complete in terms of value and fine-tune a high-end product at a higher price. Being profitable from the outset will allow your to talk to the users, continually improve the product and regularly deliver value to your customers. There’s nothing better than promoting your reputation by word-of-mouth.
An expert in the design and implementation of SaaS solutions, Belighted has, through a large number of projects, set up successful strategies for standing apart from the competition. If there is keen competition in your sector, consider relying on a trustworthy and experienced partner to transform your software into a unique, high-performing and top-of-the-line SaaS solution.