In just a few years, it’s estimated that the SaaS industry will be a multi-trillion-dollar entity.
It’s not a matter of if, but when it will impact your business, so it’s important to be aware of how theindustry is changing and how you can take advantage of the new opportunities this will create. Here arefive SaaS trends you can expect in the near future.
Low-Code and No-Code Platforms
Low-code and no-code platforms are becoming increasingly popular with SaaS development teams.These platforms make it easy to build web applications using drag-and-drop functionality, while stillgiving you the option of customizing your app through code.
Low-code platforms have been around for a few years now, but they’re still often considered “experimental” by many in the industry—especially when compared with traditional coding languages like Java or C++. However, low-code tools continue to improve in terms of ease of use and features, making them a viable option for both new projects and existing apps that need an update.
Usage-Based Pricing Trends and Metering
You may have heard the term “usage-based pricing” floating around. This is one of the key trends to emerge in SaaS pricing over the last few years, and it’s likely to become even more important in the coming years.
Usage-based pricing means charging your customers based on how much they use your product instead of having a set price for each month or year. With usage-based pricing you can charge for actual consumption of resources such as storage or even counts of transactions to make a dynamically aligned value proposition to customers.
AI and Machine Learning
As machine learning and artificial intelligence become more prevalent in the business world, they’re also finding their way into customer experience. Even though machine learning has been implemented by many companies for several years now, it’s still relatively new to most organizations.
In 2023, AI and ML will continue to be used to improve every step of the customer journey—from first interaction to post-purchase engagement—and it will help create better experiences for your customers with every interaction they have with your brand.
Vertical SaaS
Vertical SaaS is an umbrella term for the many ways that businesses can use software to solve a specific problem. It’s especially useful for companies with a limited budget or resources, who want to offer their customers a software solution that complements their usual products and services.
Vertical SaaS is a great way for small businesses to get started in the software world without having to hire developers and designers on their own. By offering and existing solution as SaaS or being a reseller for a SaaS product It allows organizations with the skills to offer expertise in that industry domain a way to focus on doing what they do best—offering products, services, and expertise to customers.
Improving the Customer Experience
As customer experience becomes the ultimate competitive advantage, it’s important to understand how you are creating value for your customers. If you’re not measuring your customer experience, then you can’t know if it’s improving over time. Every SaaS company should be conducting user research and using it as an opportunity to improve their product offering and make sure they are delivering a great experience on all fronts.
Are You Ready for the Future of SaaS?
As you can see, the future of SaaS is already here. If you’re ready to make that future your reality, start with Marketizer, the all-in-one Cloud Marketplace Automation Platform.
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The blog was originally published in corenttech.com
Authors: Corent
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