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The B2B Tech world is booming the SaaS business models. And statistics back that up. 50% of the enterprises run their operations by depending on a SaaS platform, of which 38% work exclusively on the SaaS module. As the applications run mostly in the cloud, they are often accessible both via a des
The B2B Tech world is booming the SaaS business models. And statistics back that up. 50% of the enterprises run their operations by depending on a SaaS platform, of which 38% work exclusively on the SaaS module. As the applications run mostly in the cloud, they are often accessible both via a desktop version or with a web interface. Let us dive right into this article and explore the world of SaaS and its facets deeply.
The SaaS business model is basically a subscription-based service. Simply put, you pay as you go. You will only have to worry about the recurring payments, which is otherwise known as MRR, monthly recurring revenue.
Aside from this, customer loyalty is of huge importance to all of these models, as that is the only thing that keeps them afloat. Not only that, but software vulnerabilities may also put the subject of data breach and security under the spotlight, so that again is something that the models delve into.
The Early Stage: Here in this stage, you are still operating at the bare-bones level. It is possible that you might not have entertained a lot of audiences, yet. Your product will still be taking baby steps and you may have decided to take in the bootstrapping technique to take better control of your actions.
The Growth Stage: It is the growth stage, where you actually get to see some productivity flowing in and out. You will now have to raise some substantial amount of funds, you will have to increase the team members, invest in product development, and scale-up.
The Mature Stage: This is the stage where you can take a sigh of relief as you have finally established yourself in the market. Now you have a well-targeted audience and the company is bringing in good MRR. All of the key KPIs are stable. Now that you are on a pile of potential revenue, you can still do better.
The Incumbent: In SaaS, B2B tech is unfurling its wings with the importance of retention. Customer loyalty plays a key part in every marketing strategy. The incumbent SaaS provider is likely to be working hard to retain the clients, for which you will have to know the weak points of the competitor’s solutions and focus on efforts.
The Clients: Every SaaS B2B tech has a lot to do with the number of clients. A larger number of customers means bigger is the chance of switching and hence the costs induced. It is only dependent on the satisfaction factor who will resist unless the value is more compelling while addressing the other issues.
Metrics for any business accounts for the health and wellness of the SaaS business model. Here are a few that you need to keep a close eye on:
Churn: Churn rate is nothing but the number of clients that leave or unsubscribe you in a matter of time. It is no surprise that products evolve all the time and users leave in a fraction of second when they see a better offer. It is the churn rate that decides how satisfied your customers are on a reality check. Given the statistics, a churn rate of 7-8% is deemed acceptable.
Formula: Number of Churned Customers/ Total number of customers
CAC: Customer Acquisition Cost tells you how much time and money you need to invest in order to acquire a new client. This is said to be one of the best ways to ascertain how profitable your company is going at the moment.
Formula: Total investment in sales and marketing/ Number of acquired customers
ARPA: The average revenue per account is the metric that shows how much revenue is derived from one customer. It is calculated in monthly, quarterly or even yearly basis.
Formula: Total MRR/ Total number of Customers
CLV: Customer Lifetime Value is the average revenue that you receive from the users during the period that they are subscribed to the software.
Formula: ARPA X Gross Margin %/ Churn rate
If you are into e-commerce business and wish to gain more than usual, B2B tech products are highly recommended for you. The SaaS business models provide you with a world of endless opportunities. Moreover, its adoption is all set to rise. All you need to do is pay heed to the ever-changing dynamics and render unique solutions to the customers.18
Simran hails from the content marketing backdrop with extensive knowledge in blogs, articles, and technical whitepapers in the non-fictional domain. She uses her ‘gift of the gab’ to explore new possibilities on her way and to make an exquisite impact on her readers. In her spare time, she likes to read journals on artificial intelligence or play with her cute kittens.
Published 14 Jul 2020, Updated 12 May 2022
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