Offering your customers SaaS software on a subscription basis will drive increased profits, as this kind of model is becoming more and more popular.
To make this type of software available to private individuals and business customers, you will need to make some choices about how it will be accessed. Choosing the Software as a Service approach means the customer does not have to install the software on their own computer, as they can access it online. In addition to being a convenient option for the customer, it is also beneficial for the company offering it, helping them to implement a subscription-based business model. The subscription model is becoming increasingly popular, as it allows customers to spread out their annual expenses. In this article, SlimPay explains the benefits of rolling out SaaS software, and how best to do it.
Why offer SaaS software?
SaaS (Software as a Service) software is online software that can be accessed through an internet connection. This means that the company or private individual wishing to use it does not need to install it on their own computer. All they need to do is create an account on this software, so that they can access it whenever and wherever they want, usually through a monthly subscription. They will then automatically benefit from updates and improvements made by the service provider.
The advantages of SaaS
The benefits for the company are primarily that they do not have to store data internally, and they are assured of maximum data security. It is actually the service provider who takes care of storing the data. Using a payment service provider also reduces costs because, with a subscription model, the subscription amount is generally fixed and everything is included within the SaaS package. Your business customer does not have to worry about taking care of hosting or maintenance.
By opting for this type of software, the company is able to overcome numerous constraints. They can also use the software at any time, on a fixed or mobile device, by simply logging in to their account, and they do not need to worry about complying with GDPR regulation, which is taken care of by the service provider. That is what makes it such a popular option.
SaaS on a subscription basis
In general, if you choose to offer SaaS software, it is best to opt for a subscription model. The user pays a fixed amount each month, or a variable amount based on their usage, which gives them access to the software’s functionality. This enables you as a business to secure your monthly revenue and predict your annual revenue, once the necessary customer retention efforts are taken care of. Consumers are finding the subscription model more and more appealing, as it means that making a substantial purchase doesn’t put a strain on their monthly budget.
As a company offering SaaS software on a subscription basis, you can choose to implement a range of different options in terms of accessibility and functionality, depending on the package the user has selected. The aim is to suit all budgets and broaden your target market.
How can I optimise customer retention with SaaS?
Optimising customer retention with SaaS is crucial to ensuring the profitability of your business model. If you are seeking to offer a SaaS solution, it is essential to also implement a customer retention strategy. Indeed, although SaaS software offers numerous benefits to business customers, these customers still have significant requirements. If a company has to purchase several subscriptions for different users, the resulting costs can be significant, and the company accordingly expects optimal performance from the software.
Simplifying the subscription process
How can you ensure you are meeting your customers’ needs? Above all, a professional user wants the subscription process to be quick and easy. They don’t have time to waste signing up to the service, they just want to be able to use the SaaS software straight away. You should avoid asking the customer to input too much information, for instance, and feel free to request certain information at a later stage. You could also opt to implement instant verification for the various fields, thereby reducing sign-up time.
Offering a unique user experience
Once this step is completed, the business customer using your SaaS solution must be able to enjoy intuitive navigation throughout and a well-designed, user-friendly graphics interface. The design aspect must be sleek, with simple illustrations and minimal text. The aim is to eliminate anything superfluous, to ensure the user interface is as easy to read and intuitive as possible, in keeping with the SlimPay software interface, which enables customers to manage regular or one-off payments easily and to analyse data relating to a company, thanks to an easy-to-understand and comprehensive dashboard.
Offering personalisation options
Why not go a step further to enhance your offering and attract users, by offering them the option to personalise certain functionality, as well as the design of the user interface. This will give them the impression of being able to control how the application looks and feels and their user experience, even though it is not actually installed on their computer.
Most importantly, for guaranteed success, we strongly recommend that you seek to continually improve your SaaS. Adding new features on a regular basis will encourage subscribers to stay with your service.