The SaaS Industry is on Fire
The rapid adoption of SaaS platforms into companies’ technology toolkits is both an advantage and a challenge for the businesses that created those platforms. It’s an advantage in that, obviously, it’s more subscribers and more revenue. It’s a challenge because not all SaaS companies are ready for that growth. To grow a SaaS business sustainably, you must be able to meet the challenges and opportunities provided by widespread industry growth.
As a young company, your platform may not be able to handle the influx of new users. Your company may not have sufficient support or customer success teams on staff just yet. You might not have a strong enough infrastructure to handle billing, support tickets, and other information that comes with a broad customer base. There are a number of ways that growth can pose a challenge to growing SaaS companies.
Don’t misunderstand — growth is a good thing. But it has to be managed. If you’ve built a SaaS company before, or if you’ve ever worked for a non-SaaS company that experienced a sudden burst of growth, you’ll know what we mean: growing pains. And sometimes those growing pains can lead to growing breakdowns.
In this scenario, growth becomes a pitfall. And once you’re at the bottom, you may not be able to get out. So how can young, growing SaaS companies achieve their growth goals while avoiding these pitfalls that could mean the demise of their businesses?
Avoid Growing Pains with a Thoughtful Strategy
Growth must be managed — not just as you experience that growth, but well ahead of time, too. That requires some planning early on in your organization’s development and a willingness to make adjustments and experiment with new strategies along the way.
To help you with this process, we recently developed an in-depth white paper on the topic. In it, you’ll learn:
- Why strong retention is better than rapid growth
- What customer success metrics are and how to create yours
- How to align your company around those metrics
- How to market strategically to the right audience
- Solutions that support growth (not restrict it)
We believe that arming you with this information will help you, as a growing SaaS company, to better prepare for growth in your future before it happens. Were you to have to step back and refactor during a period of expansion, that growth could come to a screeching halt.
Why put a wonderful thing like growth at risk when you can mitigate the risk ahead of time?
Grow Your SaaS Business Safely and Sustainably Now
Download our white paper on navigating growth as a SaaS business and put our recommendations to work.
