Have you compared your SaaS product to what your competition is offering? You may get a clever idea or two that could propel SaaS strategy forward! Read on and learn how they are boosting their market share…
They Lead Customers to Success
Your fiercest adversaries in your industry lead users to the value their app provides. They guide customers through a journey, showing them what to do next. They provide feedback through status and completion metrics such as ROI, time saved, tasks completed, and issues resolved. Using these techniques increased conversions at Extraco Banks by 700%. Hand-holding and feedback will reinforce the customer’s perception of your product and fuels one of the strongest lead generation channels in marketing: referrals.
They Provide Ways to Engage from Any Device
For many web applications, over half of incoming traffic is from mobile devices. Backpack maker Jansport used this fact to improve mobile conversion rates by 21% after redesigning using a mobile-first strategy. A mobile-first SaaS strategy increases user satisfaction and engagement for SaaS platforms, e-commerce sites, and more. If your competition has a web application with a responsive, mobile-first user experience, they are ahead of the game.
They Build Their Brand into Their Web App
Branding as part of your SaaS strategy goes well beyond marketing copy. Presenting your brand consistently increases revenue by 23%. Are your competitors building web applications with their brand values and corporate culture as the foundation? If the brand is fun and whimsical, the app should be easy and entertaining to use. Likewise, if the brand promotes industry leadership and knowledge, the app should act as an automated consultant, guiding users to achieve results and receive feedback.
They Make Things Simple for Users
Imagine one of your customers using a competitor’s SaaS or e-commerce app in their daily work. Is it easy to use? Does it provide valuable information that users understand? Studies show that 90 percent of the information transmitted to the brain is visual. Similarly, people remember 80% of what they see, but only 20% of what they read.
They Provide Exceptional Customer Service
Customers in your market segment show loyalty to businesses standing behind their products and services. According to Bain & Company, a 5% increase in customer retention increases profits from 25% to 95%. As a result, your customer service-focused competitors use this to gain an advantage. They provide multiple ways for customers to receive live help. Customer service-oriented competitors invite their customers in and promote loyalty through their service instead of creating roadblocks to discourage it.