How to Build a profitable SAAS Product
SAAS (software-as-a-service) products are the software that makes customer life/work easy and could be accessed via the Internet or offline. To build a profitable SAAS product, you can mark the following steps.
- Idea that solves some problem of customer
- Make/Build the product
The first step is to come up with an idea. The idea should meet the satisfaction of the customer and could meet the following criteria:
- Must solve a problem (Define Minimum Viable Product)
- Have Market Value
Your idea must solve the least problem of the customer, that’s MVP (MINIMUM VIABLE PRODUCT). You can brainstorm follow thing to come up with a good idea.
- Come with a unique idea
- Improvement in the existing implemented idea.
- Solve your own problem
The second step is to build/execute the idea into a product. To build a SAAS product, you need to design a fully functional application and could follow the below steps:
- Write the Product Requirement
- Start Development
- Create Landing Page
Write down your product requirements, feature, and services for your application using tools like Google Docs.
To build a product from our draft, we can choose either of the below ways
- Hire a Developer
- Make it by yourself
Building SAAS product from scratch requires knowledge of a lot of domains like UX/UI design, Development, Marketing/Ads, User Feedback, emails, etc. Customers don’t care what logic/programming language you use to build the product. What’s in front of the customer matters.
There is a lot of option to choose between services/language, some are listed below.
|Website Development||React, Node, MongoDB|
|Messaging||Skype, Messenger, or Whatsapp|
|Prototyping and Design||InvisionApp, Photoshop, Affinity Designer|
To build/manage the infracture, hire the developer for the work. I have written an article for the list of websites to find the remote developer.
You can also work on boilerplate templates rather than creating everything from scratch. Some of the boilerplate templates to use in the projects are listed below.
Another approach is to buy already build software/product and make adjustments accordingly. Some of the site listed below buy already polished side-projects, SaaS, Domains and Social Media Accounts:
The third step is to market your product. There are different factors that can increase user interaction with the product e.g. landing pages, ease to use, features, etc.
You can even launch Facebook, Google, Twitter paid ads campaigns to reach to the target customer. If you are looking for some free alternatives, you can post your product on the below platforms:
- Product Hunt
- Indie Hackers
- Hacker News
- Reddit (post in specific subreddit)
- SaaS Hub
- Beta List
- Beta Page
That’s it, folks, and good luck with your next SAAS product. Share if you like the post.