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These days, various kinds of compаnies are moving to the cloud, and the popularity of SaaS products isn’t going away any time soon. Undoubtedly, this shift has been forced by the global pandemic, directing companies to work remotely, which means the software as a service solution is now in high demand.

Today, we’ll tell you how to build a SaaS startup. We prepared a list of useful ideas and a small plan that will help you to launch your business without a delay.

What is SaaS?

A Software-as-a-Service company maintains a platform online and gives customers access to its functionality, technical support, and extra services. The program is often accessed remotely by customers. Throughout this situation, the software is more than simply a product; the corporation has long-term responsibility for databases, platforms, and other software that allow the functionality to run smoothly over time and provide continuous services to subscribers. The cost of the subscriptions and the terms of the offer vary based on the number of people who have access to a profile, single or team plans, the kind of SaaS client support provided, the quantity of data kept, and the accessibility of extra services. As a service (SaaS) typically focuses on the B2B space, providing business owners with beneficial solutions that help them enhance their performance. Certain items, meanwhile, are geared for business-to-consumer (B2C) niches, albeit this is an uncommon occurrence.

Starting a SaaS company in the marketing industry is really great option. These days, the popularity of marketing automation is skyrocketing. By automating routine tasks, like social media management or email campaigns, companies free their employees from tedious duties and allow them to work on more important things.

One of the marketing automation software examples is HubSpot which draws nearly 25,000 customers every year. The statistics indicate that businesses are in a hunt after premium marketing SaaS platforms — you just have to find your niche and make it work.

With the pandemic outbreak, team collaboration software became a profit-making niche for SaaS startups. Global business digitization and the demand for visual data sharing, including smart conference rooms, are driving this trend. In this sector, several lucrative SaaS application concepts have been created. It's indeed, nonetheless, eager to expand and bring in new excellent business ideas. Today businesses can find different tools that enhance project management and improve employees’ productivity. Better team communication, project management, and productivity are all aided by online collaboration tools.

For example, Mobilize, a community management platform, offers a private space for a professional network that allows having posts, events, file share, and email integration in one place.

Content has become the main asset of marketing strategy. According to HubSpot, 70% of businesses are actively engaging in content marketing. As a result, there is an ever-increasing demand for SaaS product concepts in content planning. However, due to the fact that content planning requires time and thoughtfulness, companies need particular instruments to boost and facilitate this process. Content planning software includes multiple solutions that assist with the planning, creation, execution and analysis of the content. By using specific tools, the content research, optimization, and distribution processes become a piece of cake.

CoSchedule, for instance, is a platform that allows companies to plan, organize, and track their content seamlessly in one place.

coschedule

Another great software as a service startup idea is building your video creation and editing service. Both designers and video editors who begin their journey in video rendering will take the advantage of this software. Digital marketing is exploding in popularity in today's environment. The most effective traffic booster is video content, which boosts organic traffic by 157 per cent. Real-time rendering is a terrific way to increase a company's online visibility, yet it's still a relatively new industry. However, as video rendering technology solutions for startups are regarded to be among the top SaaS application concepts, it's only a matter of time. It’s a well-known fact that video content can significantly increase organic traffic and many companies use it for enhancing their online presence.

Large firms like Adobe, Nvidia, Autodesk, and others compete in this area. Because the software programs are designed for experts, the prices are high and the pricing methods are rigid.

VEED is a software-as-a-service company that makes video editing and making videos from podcasts easier. With a monthly visitor count of 313,000, this SaaS software concept earns its owners $180,000 every month.

There’s no business without meetings. Meetings can take almost half your day or even an entire day. According to GlobeNewswire, the online reservation software market will be worth $546.31 million in 2026. Furthermore, the SaaS portion of the business will continue to dominate and will welcome new startup ideas and SaaS solutions. There’s no secret that with all this fuss people can miss important appointments. Thus, automated timing management software is an incredible idea for SaaS businesses.

An awesome example is Calendly, a software designed for scheduling team and personal appointments and group events.

calendly

A health check application is one of the most affordable SaaS business ideas. These tools notify users about their planned meetings with the doctor. It can also include automated suggestions for patients regarding their health records.

Here you can check out several HIPAA compliant apps based on similar SaaS product ideas.

Telehealthcare allows medical specialists to consult patients online. The worldwide telemedicine industry is expected to reach $185.66 billion by 2026, according to Fortune Business Insights. As a result, telehealthcare is ripe for profitable SaaS application ideas for small businesses. By using communication technologies like computers and smartphones, people even from rural or isolated communities can have access to high-quality healthcare services. The instruments can include features like video-conferencing or remote patient monitoring.

BetterHelp is the world's largest health e-counselling service, connecting patients to qualified therapists. BetterHelp was bought by Teladoc Health for $30 million, making it one of the most profitable SaaS product concepts.

Accounting SaaS software is a common yet lucrative idea. It's a program that keeps track of, processes, and reports on a person's or company's financial transactions. Accounting SaaS product concepts aren't exactly new. However, there is still a great need for software and finance company ideas. Inventory and tax management, a payroll system, financial reporting, and analytics are all included in accounting software. Accounting software startup concepts that are worth pursuing: Keep track of and manage your financial data, as well as provide an accurate picture of your money.

Both small and large businesses can take a significant advantage from it. For instance, It can help with personal or business accounts management and with tax calculations.

Daxko is a software-as-a-service firm that specializes in operations and finance management. The proposal for a SaaS application that enabled the creation of the Daxko Accounting solution raised a total of $7.8 million.

Nowadays, virtual assistants aren’t a novelty and more and more businesses leverage this technology to engage with their clients. Only in 2019, the worldwide AI assistant market grew at a 34 per cent compound annual growth rate (CAGR). As a result, concepts for SaaS applications that will develop conversational commerce are needed in this industry. These bots can execute various tasks like resource planning, team scheduling, and employee engagement measuring. Artificial intelligence virtual assistants have an untapped potential that is still being uncovered, so the possibility of launching a unique product is huge.

Conversica is a major AI virtual assistant SaaS company. Conversica helps sales and marketing teams acquire, score, and manage leads. Conversica got $107 million in initial funding as one of the most potent SaaS application ideas.

E-invoicing lifts the burden of paper invoicing that takes a lot of time and effort by helping to generate electronic invoices automatically. According to statistics, the value of the global e-invoicing market is projected to be 20.5 billion dollars, by 2025. Fintech startup concepts enhance invoice administration by decreasing fraud and speeding up invoice acceptance. Invoice automation assures transaction accuracy, saves time and money, and improves supplier relationships.


Beanworks is a payable automation solution that speeds up invoicing by nine times. Beanworks was able to obtain $12.3 million in private funding because of its fantastic SaaS product proposition.

First, find a niche of your product and make it a solution for a particular problem.

For instance, there are plenty of social media management systems that work with 4 or even 5 social media platforms, but your task is to create an advanced platform that covers everything a manager would need to work with one platform, for instance, Tick Tock.

To find a solution to a problem you should conduct an industry overview, target market research, and competitor analysis. Remember: not everyone is your customer.

Before you make further steps, spend some time to figure out if your SaaS idea has real potential to become a successful company. You can validate your idea by having conversations with potential customers face-to-face, via phone, or email. Try to determine whether they are just curious or real prospects willing to buy your product right away.

What are suitable pricing strategies for SaaS startups?

  • Free with built-in ads

What is free always attracts new customers. By monetizing your app with built-in commercials, you will quickly get revenue. However, you should avoid the overuse of built-in ads as it’s considered to be harmful to the user experience.

  • Flat-rate pricing

Here you offer one package of tools at a monthly or annual charge. You can also include a free trial period.

Building a brand means a lot because today people not only buy a product, but also a status and a feeling. If using your product will make them feel good about their self-esteem they will become your customers forever.

Financing is crucial for a startup. If your idea is really profitable you have chance to involve angel investors in your venture.

One of the best ways for a startup to develop its software is outsourcing. Reaching out to an experienced offshore vendor is an awesome way to develop an efficient product within a short amount of time and for a reasonable price.

A minimum viable product, or MVP, is a solution with enough features to attract early-adopters and validate a product idea early. Creating an MVP can help you to get feedback from users as quickly as possible to make product improvements.

Knowing the theory isn’t the same as having practice. So, make your first step towards a successful SaaS business!

In case you need some help with SaaS platform development, don’t hesitate to contact inVerita.

Our experts can help you with product discovery which includes the first steps in SaaS startup creation, and can also assist you with MVP and product development further on your journey.

The article was updated on February 9, 2022.
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