Here is an anecdotal roadmap to develop a cloud-based SaaS product from a vision, strategy, design, and execution perspective.
What is a cloud-based SaaS?
A cloud-based SaaS (Software as a Service) is a relatively new approach for organizations to supply software solutions on a subscription basis. It has quickly become one of the most admired industry developments in recent years. Before we get into building a SaaS application, let’s define what SaaS is, what it offers, and why so many firms are gravitating toward it.
What is SaaS and its Benefits?
A SaaS application is software licensed using the software as a service. These services are cloud-based, which means they don’t require physical installation on your computer. The usage of cloud computing provides several advantages to SaaS solutions: Reliability, Security, lower cost, multiple devices, etc.
I have demystified the convoluted process in 6 steps.
Think Out Of The Box
Although cloud-based SaaS is undeniably one of the hottest industry trends, the cruel reality is that a new SaaS application gets developed every month. So, if you don’t have anything unique to contribute, you’ll be another brick in the wall. As a result, you’ll need to develop a unique solution that offers different values to your clients.
A Reliable Service
The SaaS model compels that you provide consistent and dependable service. Customers are willing to subscribe to certain services, but not all of them. How do you know if the service you offer is a good fit for the SaaS business model?
Let’s take a real-world example of when SaaS works perfectly and when it fails. Customers who subscribe to a Software-as-a-Service (SaaS) solution expect to access the platform whenever they require it. As a result, cloud dependability is a vital component of every SaaS company’s success. Although many SaaS firms are naturally lured to public cloud services for network hosting, their services would greatly benefit from the more stable infrastructure provided by colocation data centers.
Define Your Competitors and do Market Research
Lets’ define simple definitions of market research and competitive analysis.
- Market research (MR): MR is how Product Managers collect data about customer demands and market drivers. You must comprehend and apply market research if you want to obtain information from real customers to make a conclusion.
- Competitive analysis (CA): CA is a subcategory of market research. When you analyze your competitors, you utilize market research techniques and concepts to learn about what they’re doing now and what they’re doing for the future.
Many frameworks can be used to do market research and competitive analysis: SWOT analysis, Porter’s Five Forces, Growth-Share Matrix, etc
Choose the Technology Stack
This is a tough nut to crack. There are a plethora of technologies and frameworks to choose from, and you’ll need to go further into each to figure out which one is ideal for you.
The value of HTML and CSS in any web application, not just cloud-based SaaS, cannot be overstated. In databases, there are not enough choices other than MySQL, and PostgreSQL are the top 2. Again it’s my opinion.
For Backend:
- PHP (Laravel)
- Node.JS
- Ruby on Rails
- etc…
For Frontend:
- React JS
- Angular
- Backbone JS
- etc…
and finally, we need to select a server for our applications:
- Apache
- Nginx
My $0.02: Before deciding on a platform, it’s vital to calculate its scalability, prospective earnings, and startup expenses.
Select your Pricing Strategy
The pricing plan of your platform may make or break your online app. Though there are no hard and fast pricing strategies, various successful pricing solutions have arisen as the SaaS model has matured.
This is also the most crucial phase since it will directly influence your revenue. It would help if you had a good idea of how much it will cost to construct your SaaS application up to this point, and you can acquire accurate quotes from SaaS development companies after specifying the app’s particular features and tech stack. If not, at the very least, you can figure out MVP (Minimum Viable Product) cost.
Finding a Developer
The next phase in the development of our SaaS solution is, well, development. It is time to look for a coder like we did market research.
We need to make a few decisions before we begin this quest. First, we have to evaluate whether or not we feel comfortable working with an offshore developer. The next step is to determine the amount of experience required. Finally, we have to select whether we want a freelance developer or someone who works for a firm.
Conclusion
I’ve outlined six primary stages for creating a successful cloud-based SaaS application. Many criteria, including price and tech stack, may differ depending on the niche you’re pursuing. However, many well-known firms are producing significant revenue from their intriguing SaaS apps, and you may do market research to get more insights.
It’s now your turn to shine! All the best, and let me know if you have any questions.
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