Technology Industry has revolutionized everything, and SaaS is a one-such game-changing technology solution for businesses, especially: small and medium-sized. Gone are the days of the traditional computer software model where you have to manage, install and upgrade software on your local servers or computers. Hence, getting SaaS product development is currently a skyrocketing business idea.
SaaS is a cloud-based software delivery methods device with an internet connection. Anyone with a web browser can use the SaaS solutions. In this cloud-based model, servers, databases, and the code that makes up an application are all hosted and maintained by software vendors or technology partners.
The software vendors maintain the SaaS application that cuts down on internal IT costs and overhead. Additionally, it operates on a subscription basis which is generally monthly or yearly, and hence there is no huge upfront investment cost.
It offers easy vertical and horizontal scalability.
Also Read: SaaS Product Development: The Complete Guide
You need an internet connection and web browser to use SaaS applications. It can be helpful for a mobilizing workforce, especially post-pandemic such solutions have become quintessential.
The software vendors take care of the updates. You don’t have to manually update the licensing or the new version of the software.
If you believe in this technology, then these are a few SaaS developments trends that you should keep your eye on –
Artificial Intelligence And Machine Learning
With enormous data and computing power, AI and Machine learning have become the most powerful tools and most in-demand skills. SaaS is increasingly embracing the artificial intelligence and machine learning trend.
Here are a few uses of AI and machine learning in SaaS
Security issues of the cloud have always been a sizzling topic among SaaS users as the old-style security methods are not helpful. Artificial Intelligence can help to recognize patterns, learn from data, and become more intelligent with time.
Artificial intelligence provides a SaaS development framework the opportunity of security services that reproduce and learn from new security threats spontaneously. Oracle has recently started using AI and machine learning in its cloud security services to automate the threat-finding process
Artificial Intelligence can provide SaaS companies with a 360-degree perspective of the consumer. AI tools also analyze customer data to understand consumer behavior, anticipate trends, and adjust service offers. AI helps to offer personalized options based on consumer preferences and past choices.
Artificial intelligence can be used in SaaS application development in a wide variety of ways. It can compel predictive analytics to produce a better user experience and help SaaS companies reduce churning. It is also crucial to make your SaaS development lifecycle better.
For example, machine learning assists in forecasting user behavior or preferences, ultimately setting off alarms or actions when the user shows signs of disengagement.
Highly Specialized Services
Instead of a complex application that provides all the tools and services, outsourcing to India provides a simple interface to solve one problem perfectly.
Here you can select from two types of SaaS software solutions:
Customized vertical solutions are developed with a particular industry in mind. A SaaS product is created by industry specialists having in-depth expertise in solving specific pain points with an accurate feature set.
For example – BioIQ is a med tech built to cater to the health industry using technology.
Companies from various industries can employ horizontal software because it is designed to carry out a specific business or departmental function. These products don't have any features that can provide a comprehensive view of a firm because they only handle one of the functions.
For example – Classic Informatics for remote developers, Zoom and slack for communication, Quickbooks and Chargify for accounting, Bullhorn, and People HR for HR services.
A SAAS marketing business model known as "freemium" allows platforms to offer free and paid categories of their services. The free version frequently offers minimal or restricted functionality- adequate to authorize customers to meet their most basic needs while enticing them to purchase a paid version and enjoy more benefits.
Platforms frequently have numerous categories, with features and costs rising with each level. These categories are frequently designed with specific features for either individuals or organizations.
Why This Model Has Immense Scope?
The idea behind this is simple. Get the customers on board for free, give them time to browse around, sign them up for your fantastic product, then switch them over to premium content so you can start making money.
The Freemium model allows businesses to get people to use their services, find product shortcomings or potential improvements, and ultimately develop user habits that encourage customer loyalty. Companies large and small can scale their businesses using this model through their potential users.
For example- Spotify, the e-commerce platform, revived a music business that has been experiencing declining physical sales and stagnant downloads. Also, it is sometimes credited with "breaking" the freemium model for music.
They boasted 70 million paying customers at the beginning of 2018, and as of June 2021, 165 million subscribers.
Low Code SaaS Platforms
Building applications and integrations traditionally fall under the purview of developers and calls for traditional hand-coded computer programming. On the other hand, a low-code platform offers a development environment that enables the creation of app software through a set of graphical user interfaces.
What Are The Advantages Of Using A Low-Code Model?
Platforms for low-code development speed up the delivery of commercial applications by cutting down on the amount of traditional hand coding. It makes it possible for more individuals within an organization to contribute to the application development, not only those with training in formal programming.
You can attract more individuals, besides only remote developers, to participate if you make the option for app integrations available to a larger audience.
Another benefit is that developers frequently have their own methods of operation. Imagine a dozen programmers, each with a unique perspective on how to do a task. And if even one programmer leaves, it might be difficult for the CTOs to hire another remote developer because of the absence of standardized code.
Low code SaaS platforms enable standardization of several elements, including approach, formatting, and more, which increases the process' s fluidity and adaptability. Low-quality code formalizes and makes repeatable a conventional procedure.
According to Research and Markets, the low-code sector might be worth $187 billion by 2030.
For example – Mailchimp helps in email automation. You can design beautiful email templates by using their simple drag-and-drop interface.
Increased Emphasis On SEO Practice
There are several reasons why one should follow the saaS trends while giving complete emphasis on the best SEO practices. And why should one not. Here are some reasons why businesses should emphasize on SEO during the SaaS development lifecycle.
- To Get Recognized
No matter how great the SaaS product or service is, if no one knows about it, it won't help your business. But with the correct SEO tactics, you can get the word out about your new product and allow it to reach the target market.
It not only promotes your services within your own country, but it can also help you establish a foothold in the competitive international market with the appropriate strategies and consistently improved SEO.
Additionally, it helps your website create organic traffic, which can result in more leads and revenue.
- Increase Traffic
Whether on purpose or accidentally, people will find you using SEO-optimized content. However, the goal of the material is not to drive visitors to a website. Original and well-written material will draw readers and keep them interested.
58% of marketers think that high-quality, well-researched content performs better than generic, poor content.
- Increase Organic Growth
Paid advertisements can be helpful when starting a new business or establishing an internet presence, but depending too much on them can be very expensive.
When you cease spending money on sponsored adverts, the traffic and leads halt if you do not actively optimize your website utilizing SEO tactics.
Incorporating and improving your SEO will drastically raise your profit margins in contrast to increasing organic visitors. Long-term benefits of SEO can be seen in the exponential growth of website traffic that results from consistent content enhancement and backlink building.
In the coming years, these developments will probably impact the development of SaaS. Different trends from last year have carried over into this year and are paving the way for fresh ideas. In a world that depends on technology, data will continue to be the driving factor behind many effective business strategies, and SaaS solutions will continue to be practical and inexpensive for small and medium-sized businesses.
If you want your SaaS company to succeed, adopting these fundamental developments are essential. But in order to flourish, it's critical to monitor the latest trends.