Launching a product into the market is not an easy journey, especially if your niche is SaaS. The industry itself is already crowded with well-known and better-backed firms. So, in order to make your product stand out, you need to pinpoint why your product is unique and articulate the best plan possible for its launch. In this blog, we discuss 10 tips that would help you to kick off your SaaS product in the market.
- Identify your competitive edge
“Customers won’t care about any particular technology unless it solves a particular problem in a superior way,” Peter Thiel, co-founder of PayPal.
Before the launch of your product, you should have answers to all the questions that could arise from your prospective stakeholders, employees, and customers. Find that one strong suit of your product that would distinguish it from the existing ones in the market. Finding out the niche and building the product around the idea would be the best practice. Think about what solution your product offers and why it stands out. And always remember, there are no shortcuts to success. However big the market be, or your competitors, a well-researched idea will never go out of the market.
- Who are your competitors
A full study about the competitors will help you in the short as well as the long run. The first step is to identify your competitors and conduct research on their products and offerings. The research should also extend towards their sales tactics product uniqueness as well as pricing. It doesn’t mean your product lacks unity, even though your competitor is better funded than yours. Competitor analysis will give you a clear picture of what to expect from the market once your product is out in the market.
- Beta test
Beta testing is done by giving your product to a group of your target audience a nearly completed product to test before the launch. The relevance of beta testing comes as the developers cannot anticipate everything around your project as well as people are always inquisitive and have doubts. Beta testing will also help in building awareness about the product prior to the launch. Another pair of eyes never hurts, but always helps. Beta testing is considered a gold mine of insights. But be ready to accept the pros as well as cons from the testing and be brave enough to make the required changes by analyzing the results of the testing.
- Implement the changes
You will be flooded with a sizable amount of data once the beta testing is complete. The major advantage is to be ahead of the time finding out any flaws with your product before it is exactly in the hands of your client. So, analyze the whole data, appreciate your pros while also consider and make necessary changes to the cons that popped up during the testing. The results should be used for the improvement of the product.
- How to capitalize on the uniqueness of your product
You don’t want to take a misstep once you have invested long hours and hard-earned money in your product. There should be a well-defined plan for the launch. Tying up with a good digital marketing agency will take you off from the stress. There are plenty of them in the town, choose your marketing partner wisely. CarbonPaper is a full-house digital marketing agency that majorly serves SaaS companies from scratch. We specialize in launch marketing, scale-up marketing, and help small and mid-sized companies across the United States. Have an idea? Hop on this link to have a strategy call with us [calendly link].
- Importance of landing page
The major process in launching your SaaS product is to build a strong landing page either with the help of your in-house marketing team or an external agency. Do not shy away from spending a little extra money on a digital marketing team, because the magnitude of marketing online is intangible. A landing page should speak for the product itself. It is the first impression that a prospective client gets about your product and the company. In substance, its design should inspire, while the content should tell a story that would increase the time a new visitor spends on your website. It should entail all the factors that convert the visitor into your customer.
- Social media presence
Since the start of the pandemic in the last year, we have seen that the number of people using social media has sky-rocketed. So as soon as the SaaS product is ready for launch you should work on building and enhancing your social media presence. While profiles on Facebook, Instagram, Twitter can be used for sustaining the traction of your followers, a solid LinkedIn page can be used to increase the radius of your professional circle.
- Free trials and Freemiums
Aren’t we all skeptical before spending our hard-earned money on anything we buy, especially when something is very new in the market? In the same manner, setting up a free trial for your subscribers for at least a one-month period will be a benefit for your product. It will also allow you to find out any points you are lagging behind. Free trials will allow your subscribers to evaluate the benefits of your product before actually buying it, and once the trial is over the majority of them get on board with you. Another feature that you could use for the advantage of the product is the Freemium feature. The term is coined from ‘free’ and ‘premiums’. Freemiums give complete access to the basic features of the product, while any additional features shall be charged. This feature helps in acquiring a lot of clients especially for a product that is looking to launch.
Your clients believe your product once they use it. Referral programs can help you in client acquisition at the initial stages. You could encourage your customers to refer and earn coupons or get cashback on every new referral. Other programs like upgrades, a free month of subscription to premium memberships, discounts on subscriptions are also great tools to grow your reach. You could also incorporate gated contents, which is a way you let the visitor access certain features of the product only after they provide their information. This can be a great asset to build a follow-up process for your product
- Announcing the launch
Once you have an estimated date ready for the launch, you should create an intriguing Coming Soon page on your website. Build a page that creates curiosity and makes them wait for the launch. You could also introduce some of the referral programs discussed above in this page to build your customers from scratch.
To wrap up, a lot of struggle and hard work goes into every product that we see in the market. Do not belittle your idea, nourish it with a lot of diligence and find your spot in the SaaS industry.
Hope these tips helped you in figuring out the processes before you launch your SaaS product into the market. Please let us know in the comment section.