We talk about the things we’ve learned while creating and growing our SaaS in this “How to SaaS” series. We’ll talk about how to identify your SaaS’s target market in this second section.
After discussing how to generate an idea for a successful SaaS product, it’s time to choose who to create for. The most important factor is to maximally focus on your target market. We all want to be like Jeff Bezos and sell to as many people as we can, but in order to do that, we must first start out like him.
Focus on a smaller group
Before you can refer to a new concept as a real business, it must first be verified. It had better be excellent because you’re about to invest a lot of your time, effort, and (probably) money in it. You increase your chances of success by focusing on a smaller population.
When you make the decision to create your SaaS, the only objective is to validate the concept. And you need (beta) testers to verify it. Additionally, you need something compelling for testers to try in order to draw them in. Therefore, when developing your SaaS, consider your audience’s requirements and create something specifically for them. At Korrect we also did the same to focus on a particular set of audience or companies who are really serious about the feedback from users. If you are someone to whom feedback plays a quite essential role then you must definitely check out our best feedback management software Korrect. We are also one of the best market leaders along with the feedback management system. Moreover, presently we are also the best upvoty alternative you can use.
Building to a specialty
Consider developing a project administration app for your SaaS. There are already a lot of tools available, but when you make one for a particular group of people, like accountants, daycare directors, or web designers, you’re more likely to get a head start because you’re making this tool just for them. As of that point, you are developing “THE project management tool for X” rather than just “a project management tool”.
Exactly this is what we accomplished with Korrect. Our SaaS could have possibly been utilised by numerous businesses in numerous markets as a user feedback tool. But because we care so much about user feedback, we chose to validate the concept first for a particular audience in order to test it out and optimize the product that was the reason we started Korrect.
We discovered that it’s impossible to adequately define your target market. Really. When you believe you have found the ideal target market, attempt further refining it. Then, further still.
When we finally settled on “digital businesses” as our ideal target market during our brainstorming process, we believed we had found it. It makes sense because digital startups have a digital offering and are just getting started, so surely they require feedback? While that might be true, one of the problems we quickly observed was that there’s no real message to write to “digital startups”. Really, anything could be a digital company. Thus, we must further define it.
When we finally got to “SaaS startups,” we decided to concentrate on companies headquartered in either English-speaking nations. “Hey SaaS startups: do you want to manage user feedback in the best possible way?”.
It’s time to actually construct something and validate the idea itself now that we’ve decided who to target.