When you are one of the SaaS dealer companies in the market, customer conversion and retention rates are imperative. This helps to boost your business and increase its scalability. When that is done, you can invest in wider SaaS solutions for them.
So, for this cycle to repeat and expand, you need those numbers which give positive feedback about your efforts.
For that matter, the latest concept of product adoption comes into the picture for every business owner in the SaaS industry today. This concept helps to maintain and keep up your business’ retention rate.
To know more, let’s dive into this concept and its importance for SaaS companies vying for extensive customer base in the market today and tomorrow:
- It helps to know the current user base
For every business owner, it is important to know the real count of the users, both offline and online, who are using the product that is being sold in the market. So, there some mathematical steps and procedures under the concept of product adoption.
Using these tools, you as a SaaS business owner can know if the netizens are loving your product or not.
- It informs you whether your trial marketing was hit or not
Another famous way in which product adoption is considerably important is to know if the marketing tests that you are running are successful or not.
By using these methods like time-to-first key action, it will allow you to know the exact count of the new users or the total users who have used your software online for the first time.
This could be a revelation for everyone in the SaaS industry. That is because if the first impression is attracting more numbers of users online, it then has the tendency to go viral in the smartphone and other smart devices market.
- It helps to spread awareness as well
What matters at the initial stages for every business owner is nothing but the awareness and then the willingness inhabited by the users online to try your software. So, when the awareness is enough, then it will increase the rate of word of mouth as well.
And when your experiments are running successfully in the market even at the first launch, then you will begin to earn more consumer interest in the targeted market.
Following this concept of regular awareness through various campaigns, ads, and inviting beta runs of the software can be pretty fruitful for your organisation if you are indulging in the SaaS business regularly.
And then there will be a time when people will be looking forward to trying new products you are introducing in the market every season.
- It helps to penetrate the interest of the customer by strong customer support
Another thing after awareness is to maintain the interest of the customer throughout the life of the software in the market. This can only happen when the customer gets used to your after-sale service and begins to trust your word over others.
For that, the product adoption concept believes in enabling your organisation to have the 24 into 7 types of support. If not that, then your company’s response time should be faster and smarter than your competitors in the online economy.
And through this way, you can win the heart of your targeted customer. Then these customers will not be cautious about switching over to the new brand when they are also satisfied or delighted with the software you are providing for their daily business operations online.
- It helps to segregate the feedback on your software services
One of the most important thing that helps every SaaS product owner is feedback.
So, under this concept which we are discussing so broadly today, the business owners get to know the upcoming and the existing array of the feedback being received on the SaaS product they have got to offer.
This owner can be you as well. And thus, this concept is highly useful for knowing the current market status of the SaaS product that you are trying to sell.
More or less, the feedback is one of the important stages under this concept of product adoption. When the feedback is genuine and positive, you get to know that the masses are accepting the software.
When the situation is opposite, then you will know what other majors should be taken to reverse the negative feedback into positive ones. This then motivates every business owner to work hard for the retention of the customers for the long term.