In today's fast-paced era of digital transformation software as a service has transformed the way we work and use the software. This wasn't the situation some decade ago. Earlier people had to purchase and download all the software on their PCs. Further updating every tool and software consumes a lot of space on a hard drive. So working and maintaining even a simple software was a big hassle. But now Software as a Service has transformed the way we work and use the software. As per the latest reports, the global SaaS market is expected to reach USD 270.37 billion by 2026.
So let's dive deep into this technology and learn more about MVP development for SaaS and how to build one. But first, let's get an idea about SaaS and the future of the SaaS startup market. So let's begin.
What is SaaS?
Software as a service is a software licensing model that allows customers to use different types of software online, without installing and maintaining it on personal computers. The most common example of a SaaS application is Gmail and a traditional desktop application is Microsoft Outlook. It offers you to access your application from any location through the internet. So till now, you must have got a clear idea about SaaS now let's move forward and discuss the future of the SaaS startup market.
Future of the SaaS startup market
The future of the SaaS market is very promising. The Global SaaS market is expected to grow by USD 716.52 billion in 2028 as per the latest report by Fortune Business Insights. SaaS is gaining popularity among businesses due to its simplicity, security, easy connectivity, and user accessibility. It streamlines the business model resulting in maximum efficiency. It is also predicted that in the future SaaS development will be connected to technologies like Artificial Intelligence and Machine Learning. But startups need to validate the idea before proceeding to SaaS development. MVP development is the best way for idea validation. Read more to get an idea about MVP for SaaS.
What is MVP for SaaS?
The MVP for SaaS is an early version of the product that has just core features. MVP has three distinct features. One it contains the essence of the business idea. Secondly, it has a low production cost, and finally, it provides feedback for future development. The MVP development for SaaS helps in idea validation, cost reduction, building an early relationship with customers, and many more. In the next section, we will discuss in detail the benefits of MVP for SaaS.
The benefits of MVP for SaaS
According to Gartner , only 0.01% of apps became financially successful. The main reasons why startups fail are no market demand, and lack of funding. MVP for SaaS can tackle these issues further it offers a lot of benefits like cost efficiency, product clarity, and others which are mentioned below.
Idea Validation: MVP development for your SaaS product helps you to validate your idea. It determines the market demand, helps to analyze the features, and decides whether it fits the market or not.
Save cost and time: SaaS MVP development allows owners to build only the important features this saves a lot of cost and time. After validating the idea and receiving feedback from customers complete product can be developed.
Testing UX functionality: As per the latest report by Statista 25% of mobile apps were accessed only once after download. So designing a product with flawless UX functionality is crucial for the overall success of an application. So MVP development allows you to test the UX functionality and enhance user experience.
Product Feedback: MVP is the perfect way to validate user ideas and get customer feedback. It helps to get a clear understanding of the user requirements quickly and by spending less money.
So now you have got a clear idea about the benefits of MVP for SaaS. Now let's understand the procedure of building a SaaS MVP.
Steps to build a SaaS MVP
The product development process consists of certain steps that you need to follow and building a SaaS MVP is no exception. There are some steps mentioned below for building a successful MVP.
Identify the problem: The most important step in building a SaaS MVP is to identify the problem that your product will solve. The success of MVP will be determined more by the problem than the solution. This will help you to understand the mindset and identify the target audience. So, define the problem clearly and then find the right solution for it.
Market Research: The second and crucial step in building SaaS MVP is to analyze the market. It is extremely important to study your competitors and ensure that you are not launching something that already exists in the market. This will also help you plan your marketing campaigns in a highly effective manner.
Decide important features: Adding too many features will complicate the MVP and increase the cost. So deciding the core features is a crucial consideration during an MVP development. You can start by creating a priority list and add only those features which are the essence of your product.
Develop a Product roadmap: So till now, you have finalized the essential features of SaaS MVP now it's time to develop a product roadmap. Plan for each marketing and development stage. Create a progress-based roadmap by categorizing each task into phases. This SaaS MVP development roadmap works on an agile development approach which makes it highly effective. While creating this roadmap ensure to add only important details unnecessary details will just lead to confusion.
Gather user feedback and update: Now it's time to develop MVP for your SaaS product. Build an engaging and user-friendly prototype as it is the representation of your final product. Constantly gather user feedback and update your MVP. This will ensure the success of your SaaS product.
How can Citrusbug help in building a SaaS MVP?
Citrusbug team has been delivering SaaS products since 2013. We deliver unique, secure, and scalable products that work well with other tools and programs. We offer top-notch, high-tech, and highly successful SaaS MVP development services to our customers worldwide. Some perks of availing of SaaS MVP development services from Citrusbug are fast delivery, enhanced security and privacy, highly scalable, and the presence of advanced skilled developers. We follow an agile development approach to ensure on-time delivery of your SaaS MVP product.
Research: Our team carries out in-depth research and analysis to offer you the best SaaS MVP development services.
Design: Our developers think out of the box to build something creative and easy for end-users.
Build: We use modern technology to build a highly scalable and secure product.
Delivery: We carry out an iterative delivery approach to ensure that you get the product as per your requirements. Further during SaaS MVP development we constantly gather user feedback and update it as per the requirements.
In this way, we ensure that you get the best SaaS MVP without any hassle. If you are looking for a SaaS development company with a solid background then you can consider Citrusbug. Contact us now to build a highly scalable and secure SaaS MVP.
So till now you must have got the proper understanding of how to build a minimum viable product (MVP) for your SaaS startup. The MVP development for startups helps in idea validation, cost reduction, and building an early relationship with customers
The MVP development process takes around 3 to 4 months. But it depends greatly on features, design complexity, and the human resources team.
At Citrusbug follow an agile development approach to ensure on-time delivery of your SaaS MVP product. We carry out the development in different phases of research, design, building, and continuous feedback cycle.
Some perks of choosing Citrusbug for SaaS MVP development are:
Working on the latest technology
Presence of highly skilled SaaS software developers
Maintaining transparency and integrity