All types of software and technology evolve. This is certainly true in the Software-as-a-Service (SaaS) world too.
To help our readers keep current with what’s going on, in this article, we discuss five of the popular trends this year.
1. Automation Goes Mainstream
Some businesses have already been using automation to a small degree, but this is going seriously mainstream this year as companies look for greater efficiencies. Being able to link data from different cloud solutions (like the one offered by PieSync) has become popular. Using triggers on email subscriptions to send emails out based on customer information like their birthday or the anniversary of their first order can drive additional revenue too.
To learn about automation, streamlining and the other improvements happening in SaaS, watch out for these trends to avoid falling behind the times.
2. SaaS Follows the Niche Site Game Plan
Just like with niche site owners pursuing smaller, more focused sites that cover fewer verticals (sometimes just one), SaaS developers are often solopreneurs or small remote teams building out compact solutions.
The trick with these micro-SaaS solutions is a tight cluster of features to get the service up and running in months, not years. Then they incrementally add features based on customer demand and requests sent into the developers.
Sometimes, the owner(s) aim to develop out the smaller SaaS, then flip it for a profit in 2-3 years based on the monthly recurring income (again similar to niche site development and subsequent flip on Flippa.com process).
3. It’s All in the Data
As SaaS companies pay more attention to the data they have stored, they’re more actively pursuing how best to make use of it. Increasingly, this means using analytics to their benefit.
While some SaaS use analytics to better understand usage patterns, peak loads and features to add to resolve usability problems, others see the potential in analytics as a business. There’s a growing influx of analytical apps providing business intelligence in real-time for companies that don’t require a hugely expensive solution built for a multi-national corporation.
Smaller analytics companies were early in releasing a feature for real-time tracking of live website users which eventually saw Google Analytics do the same. Smaller SaaS can innovate in this area and get ahead of larger, slower competitors.
4. Adding Value
Seeing an opportunity to add secondary and tertiary income streams, SaaS is increasingly offering other products or services.
These may include training courses across a range of related topics to help business owners and their staff. The key is to develop courses or other services that tie nicely into what they already offer and are known for.
5. Going Vertical
Along with the narrower scope of some solutions, some SaaS producers are focusing on specific verticals or industries to the exclusion of every other one.
This isn’t that unexpected as it’s happened in desktop software development circles too. However, it’s a growing trend in SaaS apps as the market becomes more competitive.
Many of the trends this year in SaaS demonstrate an evolving and maturing market. Rather than deal with the largest SaaS producers and attempt to complete with their development prowess, smaller operators are innovating harder.