This week has been a living proof that the SaaS scene in Europe is vibrant, ambitious, and growing. We headed off to Dublin for SaaStock, the biggest SaaS conference in Europe. Eager to learn about the latest & the hottest in SaaS!
Here’s what we, as a scaling SaaS company, learned throughout the SaaStock conference, including some promising SaaS companies we met.
Inspired by their ‘5 stages of growth‘, we’ll have a look at the biggest growth challenges, and the tips we learned at SaaStock to overcome them. Plus, we’ll include some companies we met, who actually help you eliminate these pains!
1. Positioning your SaaS
Who is my ideal customer? Finding product-market fit is probably one of the toughest challenges in SaaS. It’s tempting to make the mistake of targeting an audience that is way too broad.
Tips we learned at SaaStock?
I love how Vidyard approached that problem. Start out with finding 1 super niche target group that is highly likely to buy your product. Focus only on that market and scale your business in that niche. Once the market is saturated, find a new niche and keep scaling your business like that.
Pro tip: analyze the profile of your best customers. Look at what they have in common to define your perfect niche.
What about tools?
I was wildly impressed by GoSquared, a behavioral marketing platform. Basically, the platform shows you who your customers really are. It tracks users across the whole customer journey, and allows you to easily segment, or deep dive into a specific user.
2. Promoting your SaaS
Now when you know who your ideal customer is, where do you find them? How to attract them?
There were some great sessions with tips for marketing. I particularly enjoyed the 7 marketing lessons by Lidia Lüttin. Her best tip? Interviewing your best customers to understand how they think and talk about your brand. Big fan of her customer-centric vision!
In terms of tools, definitely check out Simvoly. The platform makes it super easy to build a qualitative website with drag & drop, create funnels and A/B tests. It helps you optimize the one place your promotional activities are directed to: your website.
3. Building a killer product
What I particularly noticed during SaaStock, is that many speakers were stressing the importance of product-led growth. Two tips I picked up:
1. Consider shifting to a freemium model.
If users can explore the product within a free version of your app, they can experience the value of your product directly. When they convert to paying users, they will have much lower risk for churn. Being familiar with your product already, they understand the true value it brings to their business.
2. Onboarding is crucial.
If your users aren’t guided properly, you might risk them missing the actual value of your product. In terms of tools, Smartlook is awesome. This session recording tool will give you automated insights into what’s going wrong and right in your user onboarding.
4. Pitch perfect?
Pitching can be a curse and a blessing at the same time. Explaining a complex technology product, ánd the value it provides, in just a couple of sentences? Well yeah, your audience could easily miss the boat there.
Luckily there was plenty of pitch inspiration at SaaStock. They organized a pitching competition, in which we were proud to join ourselves. Other cool SaaS products that participated were Veamly, Hygger, Feedier, Vibbio,…
Special congrats to Cledara, who did a great job winning the pitch, with the product only just being launched!
5. Building a great team
The last item on our list might be the most important one: hiring and coaching talented people. Growth is only possible with the right team, so how to accomplish that?
During the growth masterclass, Dan Martell offered a great framework for leadership. Give your employees a goal or KPI to work towards, without telling them how to do it. Instead, coach them on their journey to attain that goal. That really stimulates growth, both on a personal and company level.
What about tools? Intuo, an awesome Belgian SaaS company, offers a solution for coaching employees in an easy and transparent way. It lets you build towards a great career path for your employees, together with your employees.
What were your SaaStock highlights? Let us know in the comments! 👇