B2B SAAS Companies
In the last five years, the SaaS market has grown threefold. The SaaS industry’s global revenue is expected to reach $171 billion by the end of 2022. The traditional on-premise model is quickly becoming obsolete. This is simply due to the numerous benefits provided by the Software-as-a-Service (SaaS) model.
Everything starts with a SERVICES for a PROBLEM / SOLUTION match
- Who is your target market?
- What are your customers' aches and pains?
- How well does your product solve their problem?
Next is MVP
The next step is to develop your Minimum Viable Product. Minimum refers to incorporating only the most basic functions of your program, Viable refers to whether it is adequate, and Product refers to a tangible end-to-end solution that you will provide to your customers.
Following the creation of your MVP comes product/market fit, which is the degree to which the product you offer meets the market’s demand.
After you’ve optimized your product, you should look at your channel/product fit. This stage is especially important if your product is based on a freemium business model
5%
Conversion rate from free to paid
3X
CPA to LTV ratio
<2%
Monthly churn rate
$100k
MRR to clear path
(how p/M Fit looks like)
Following the creation of your MVP comes product/market fit, which is the degree to which the product you offer meets the market’s demand.
Finally, you must construct your growth funnel.
The growth funnel has five stages, and the goal of every SaaS company is to provide the best solution that each of these stages implies:
- "How can I attract potential customers?"
- "How can I give my potential customers a good enough experience?"
- "How can I keep potential customers returning?"
- "How can I get potential customers to spread the word about me?"
- "How can I convert prospective customers into paying customers?"
(The AARRR Framework)
Gateway to your GROWTH starts here
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