Does your SaaS platform set you up for success? Unfortunately, many platforms have flaws that limit the potential for maximum profitability. Let’s look at three critical capabilities your platform must have to support rapid growth that leads to long-term success.
Flexible Subscription Support
If your platform is too rigid, there’s a built-in boundary on revenue potential. A SaaS business needs the flexibility to offer a variety of packages, which may take different shapes over time during the customer lifecycle.
SaaS companies can quickly become billion-dollar businesses when they embrace flexible subscription strategies. As proof, look at multi-billion valued companies like DropBox and Salesforce.com, which skyrocketed to success through subscription modeling.
Analyze your current platform. Can you add new models quickly? Does it handle complex lifecycles? Can customers use many payment methods, currencies from around the world, and multiple languages? If the answer to any of these questions is no, your platform is subpar.
Customer Service Storytelling
A SaaS company has massive potential to increase sales by telling a story. It should be a friendly tale where you make a real connection with prospective customers. If you succeed, they’ll spread the word quickly through repeated purchases, word of mouth, and social media.
Is your platform set up for consistent, upbeat customer service experiences? Is it a pleasure to interact with your company? All it takes is one negative experience, and most customers will be reluctant to buy from you again.
Your brand story is part of the positive image you project to your customers. It makes them feel inclined to trust you and enjoy interacting with you. Brand stories answer questions like:
- Why did you launch your business?
- How did you decide on the name?
- What’s your success secret?
- Why do you love what you do?
Create and maintain positive storytelling by incorporating your brand story into every customer interaction. The right platform helps you do this, every step of the way, from the first web page they see to the follow-up message they receive after purchase.
Can your platform expand to fit your long-term needs as you become a major player in the market? As your company grows, you can grab a bigger piece of the pie - but only if your platform can handle it.
Fast growth is one of those “good problems to have,” but it puts you in a precarious position. With so many customers to support, suddenly you’re at risk of system capacity issues, financial management problems, and being too overwhelmed to provide good customer service.
To scale up your business properly, make sure you have:
- A skilled development team
- Strong customer support
- On-hand marketing and sales plans
- Clear focus on your next steps
When you have the right platform, scaling up is a smooth transition. Every customer continues to experience the same top-notch service they always had. Rapid growth is welcome, because your system handles it flawlessly.
Your SaaS business deserves a chance to be a major player. Explore the power of FastSpring to deliver full-stack support as you pursue fast growth. Click here for your free demo today.