It’s hard to believe we’re already in the last month of Q3! As we come away from a slower, quieter summer (so we’ve been told), everyone is getting geared up to return back to work and get into the full swing of things. There’s no better time than now to find out the up and coming trends and new concepts that will prepare us for September.
This month, you can expect to see a huge shift in the way the SaaS industry is operating, as well as exciting new concepts that you’ll be eager to explore. Let’s take a look at the crucial topics we encountered this August that will be the talk of the town in September.
Today we’ll discuss:
- The war in Ukraine/Rising gas prices/Blackout in Europe, and how this all could affect the SaaS industry
- The rise of HR SaaS Platforms since 2020
- Buzzword of the month: PaaS
- No code SaaS platforms
- MarTech – upgrading your techstack with the latest trends
How the war in Ukraine affects the SaaS industry
With the Russian invasion of Ukraine and the pandemic, people are beginning to fear there will be a recession again, and they aren’t far off. The rise of gas prices around the world has put pressure on suspending other expenses, especially in many companies. People are just trying to cut down costs, and that can affect the SaaS industry. Because of that, we all have to be prepared. Let’s see what SaaS companies can do to get ready for a possible recession.
Reduce customer churn
One of the best strategies you can focus on is trying to retain your users by reducing customer churn. To do so, you’ll need to analyze the different types of customers you have and categorize them. You’ll then be able to see which customers are more likely to churn and which aren’t. Retain the ones who aren’t churning and offer incentives to those who are.
Wondering how to reduce churn? Book a Demo and learn more about how FROGED can improve onboarding for SaaS companies while reducing churn by 76%.
Drop unprofitable products/services
Sometimes we’ll have different products/services that aren’t doing as well as others. A wise strategy would be to drop the products that aren’t performing so well, and focus on the ones that are. Quality over quantity.
The rise of HR SaaS Platforms since 2020
The world has been experiencing many changes due to the COVID-19 pandemic. The majority of industries have experienced a change in how they work, organize meetings, or handle tasks. SaaS companies have filled out a lot of remote work necessities, and HR isn’t an exception.
The 2021 Tech Survey found that nowadays, 46% of companies worldwide are using a HR SaaS platform or hybrid solution, compared to 20% who said they were using a cloud-based solution two years ago. Looking to the future, the survey found that 57% of organizations expect to be using a subscription-based SaaS or hybrid solution by 2023.
So, looking to the future, it seems that HR SaaS will be at the core of the majority of businesses. Penny for your thoughts?
What is PaaS?
Platform as a Service refers to the delivery of hardware and software tools over the internet by a third-party provider. In most cases, these tools are required for application development. PaaS providers host the hardware and software on their own infrastructure. Therefore, PaaS eliminates the need for developers to install hardware and software in-house to develop or run their applications.
Platform as a Service’s main purpose is to provide specific solutions to applications and software development. In general, PaaS companies have three main parts:
- Cloud infrastructure includes virtual machines (VMs), operating system software, storage, networking, and firewalls.
- Software for building, deploying, and managing applications.
- A graphic user interface, or GUI, where development or DevOps teams can do all their work throughout the entire application lifecycle.
PaaS vs SaaS
Sometimes people get confused between PaaS and SaaS as they’re so similar. But it’s crucial to understand their main differences in order to choose the right one for your business. Let’s take a look at their main differences:
- PaaS hardware and software tools are available online, while SaaS software is available online through a third-party provider.
- The majority of PaaS users are developers, while SaaS users need not always be developers.
- In SaaS, the software or application needed must be downloaded, whereas, in PaaS, the application is built by the user.
- SaaS has a very low chance of errors, and if something happens, the service provider handles it. Instead, whenever an error occurs in PaaS, the user must rectify it and re-run the application.
- PaaS is easy to use for developers with little system knowledge. SaaS can be run by developers without any knowledge of system administration.
- PaaS is more time-consuming than SaaS due to multiple services management.
Looking for an expertly developed SaaS platform support to create the perfect customer support strategy? Have a look at FROGED’s features and integrations that will help you bring your company to the next level.
No-code SaaS platforms
This summer, we’ve also seen the emergence of no-code SaaS Platforms. But what does this actually mean?
No-code SaaS requires few – if any – programming skills to quickly build an application. Sounds ideal, right? With the help of the right plugins, it’s super easy to design the entire website without coding at a very cheap cost.
Here are some examples of SaaS platforms that don’t require coding:
The Mailchimp platform includes everything you need to collect customer information, analyze who they are, and contact them. From Mailchimp’s all-in-one marketing platform, you can conduct surveys, launch social media campaigns, and categorize your customer databases. With their no-code integrations, you can automate anything you need, including Square and LiveChat.
If you’re interested in the creation of apps, you might have heard about Bubble. This company allows you to build your own app without having to know any programming languages. With it, you can create applications such as a real-time voting app, a video-sharing social network, and even a Craigslist-type marketplace.
Are you looking for a no-code SaaS company? Book a demo with FROGED today.
MarTech – upgrading your techstack with the latest trends
Now is the prime time that companies will begin to upgrade their current TechStacks, and MarTech is no exception.
So how are marketing teams currently trying to reach out to the right clients in a personalized way? Chat bots. Chat bots are a red-hot topic at the moment. With a 73% satisfaction level – they’re towering above any other channel for personalized service for potential and existing customers.
Marketing teams are incorporating chat bots into their strategy more and more these days, using powerful AI technology to analyze customer feedback and data, identify trigger words to personalize communication, and engage with a huge number of potential customers simultaneously.
For more information about chatbots, check out this article on Live chat best practices and examples.
What Product Success looks like in September
To round it up, September is approaching fast, and there are some fantastic newsworthy trends to jump on. Certainly, the Russian war with Ukraine will affect all of Europe and increase gas prices worldwide, but all those strategies and tools we’ve discussed before will help you prepare for a possible recession in the future.
Additionally, the emerging new tools, technologies, and strategies can be the key to bringing your business to the level of success you’ve always envisioned. So let’s take advantage of the new month’s opportunity to put them into action and move your business forward.
Interested in more? Have a look at our last articles on our FROGED blog. If you’re looking for more trends for 2022/23, have a look at this article from Finances Online.