Launching a SaaS product is a huge endeavor. It’s not just about creating a great product — it’s about launching a great product that people want to buy.
There are a lot of things that you have to think about when you’re launching a product. You need to think about the product itself, the market, your competitors, your target audience, your pricing, your marketing strategy, and more.
In this post, we’re going to cover some of the key things that you need to think about when you’re launching a SaaS product. By the end of this post, you’ll have a good idea of what you need to do to launch a successful SaaS product.
1. Do market research
Before you do anything else, you need to conduct thorough market research to make sure there’s a demand for your product.
Start by identifying your target audience. Who are they? What are their pain points? How much are they willing to pay for a solution? What are their other options?
Once you’ve identified your target audience, you need to research your competition. Who are your main competitors? What are their strengths and weaknesses? What are their pricing models? What are their customer acquisition strategies?
The more you know about your market and your competition, the better you’ll be able to position your product for success.
2. Develop a minimum viable product (MVP)
Once you’ve identified your target audience and validated your idea, it’s time to develop your MVP. This is a basic version of your product that solves one problem for your audience.
The key to building a successful MVP is to keep it as simple as possible. You don’t need to build every feature you can think of. Instead, focus on building the core features that will provide the most value to your customers.
This will help you get your product to market faster and start generating revenue. It will also allow you to get feedback from your customers on what features they would like to see in future versions of your product.
3. Make sure your MVP is actually viable
Before you launch your SaaS product, it’s crucial to ensure that your MVP is actually viable. This means that it should be good enough to solve the problem you’re addressing, but not so complex that it takes a long time to build and can’t be improved upon.
In other words, your MVP should be the most basic version of your product that you can create, but it should still be valuable to your target customers. If it’s not, you won’t be able to get the traction you need to move forward.
Once you’ve built your MVP, it’s time to test it. You can do this by getting feedback from potential customers, running surveys, or even releasing a beta version of your product. This will help you identify any issues with your MVP and make sure it’s ready for launch.
4. Set goals for your SaaS product
Before you launch your SaaS product, you should have a clear sense of what you want to achieve. Set specific, measurable, attainable, relevant, and time-bound (SMART) goals to guide your launch strategy.
Your goals should be based on your business objectives. If your goal is to drive revenue, you might set a goal to generate a certain amount of sales-qualified leads (SQLs) within the first month of your launch.
If your goal is to build brand awareness, you might set a goal to increase your website traffic by a certain percentage.
The goals you set will depend on your business, your existing customer base, and the market you’re entering.
5. Create a marketing plan
Your marketing plan will be the roadmap for how you generate awareness, leads, and sales for your product. It will also help you to set goals and KPIs for your launch.
Your marketing plan should include:
• Your target audience
• Your positioning and messaging
• Your marketing channels
• Your marketing goals
• Your marketing budget
• Your KPIs
You should also include a timeline that shows when you will be doing each of your marketing activities.
6. Start your marketing efforts early
As a SaaS company, your marketing team should be involved in the product launch process from the get-go. They can help you create buzz around your launch, get people excited about your product, and bring in leads from the beginning.
The worst thing you can do is spend months or even years building your product, only to start thinking about marketing after it’s ready to launch. If you don’t have a marketing team, consider hiring an agency or freelancers to help you get the word out.
7. Make sure your sales and customer support teams are ready
The product team isn’t the only team that has to be ready for launch. Your sales and customer support teams also need to be fully prepared.
Make sure your sales team understands the key selling points of your new product and how it compares to the competition. They should also be familiar with the pricing and packaging options, as well as any special offers or discounts that will be available at launch.
Your customer support team should be trained on how to use the new product and be able to answer any questions customers may have. They should also be prepared to handle any issues that may arise during the launch period.
It’s a good idea to run through some common customer scenarios with your support team so they know how to respond. You may also want to create a list of frequently asked questions and answers that they can refer to.
8. Get feedback from beta users
Once you have a minimum viable product (MVP) ready, it’s a good idea to get feedback from beta users.
Beta users are people who get early access to your product in exchange for providing you with feedback. This feedback can be invaluable in helping you identify any issues with your product and in understanding how you can improve it.
You can find beta users by reaching out to your existing network, conducting surveys, or using a tool like BetaList, which helps you connect with potential beta testers.
9. Create a pricing strategy
Your pricing strategy will determine how much your customers will pay and how much revenue you will generate.
There are a few different ways you can structure your pricing strategy, but the most common methods are value-based pricing, cost-plus pricing, and competitor-based pricing.
Value-based pricing is when you set your price based on the value your product provides to your customers. Cost-plus pricing is when you set your price based on the cost of producing your product, plus a markup. Competitor-based pricing is when you set your price based on the prices your competitors are charging.
When you’re creating your pricing strategy, it’s important to consider your costs, the value of your product, and what your competitors are charging. You’ll also need to think about things like how you’ll bill your customers, what payment methods you’ll accept, and what kind of discounts you’ll offer.
10. Build a landing page
Before you start developing your SaaS product, create a landing page to showcase it. Your landing page should provide a brief overview of your product and list its key features and benefits.
You can also include a call-to-action (CTA) button that allows people to sign up to get notified when your product launches. This will help you gauge interest and build a list of leads you can reach out to once your product is ready.
Pro Tip: Use a tool like Unbounce or HubSpot’s Landing Page Builder to create a professional-looking landing page in minutes. Choose from a variety of templates, customize the design, and add your own copy and images.
11. Use content marketing
Content marketing is a great way to build brand awareness, generate leads, and drive traffic to your website. It can be used to promote your SaaS product before, during, and after the launch.
Leading up to the launch, create content that educates your audience about the problem your product solves and how it solves it. You can also use content to introduce your audience to your team and build excitement around the launch.
Once your product is live, you can use content to drive traffic to your website and generate leads. You can also use content to educate your audience about your product and how it works.
After the launch, you can use content to keep your audience engaged and drive repeat business. You can also use content to generate product reviews and testimonials, which can help you build trust and credibility.
12. Create a product launch plan
Finally, it’s time to put your product launch strategy into action. This means creating a detailed product launch plan that outlines all of the tasks, milestones, and deadlines your team needs to hit in order to get your product to market.
Your product launch plan should include everything from your marketing and sales strategies to your go-to-market timeline and budget. It should also be used as a central document that your entire team can reference throughout the launch process.
13. Leverage Referral Programs
Word-of-mouth marketing is one of the most powerful ways to grow your SaaS product, and a referral program can help you capitalize on it. By incentivizing existing customers to refer new users, you can create a steady stream of organic growth while building brand loyalty.
To launch a successful referral program, start by defining a compelling reward structure—whether it’s discounts, account credits, or exclusive perks. Then, promote your referral program through email campaigns, social media, and in-app notifications. With a tool like ReferralCandy, you can automate referral tracking and reward distribution, making it easy to scale your program as your customer base grows.Conclusion
By following the steps above, you’ll be well on your way to a successful SaaS product launch. And remember, once your product is live, the work isn’t over. Continue to gather feedback, analyze data, and make improvements to your SaaS product over time.
Glen Harrows