One of the most fundamental steps in getting your SaaS product off the ground is to ensure that you position it in such a way that you not only break out of the sea of noise that is the SaaS world, but to also clearly articulate who you are, who you are targeting and what your product is meant to do. Getting this wrong equates to endless hours of trying to convert the wrong people. However, getting it right can really bring about a momentum that is exciting, powerful and focused.
Below are some tips for positioning your SaaS products in 2019
- Don’t worry too much about total product differentiation
- Spend time identifying your product positioning and flesh out your positioning statement
- Re-examine your target segment and modify your website to suit their requirements
Forget about total product differentiation
Due to intense competitiveness, SaaS products are all moving rapidly to mimic each other and reduce the functionality-gap. Because of this, more and more SaaS products are becoming similar. Feature differentiation is fast becoming redundant (unless you come up with an amazing break-the-mould feature).
How then do you differentiate yourself from your competitors when all your competitors offer the same features you do? Keep reading.
Spend time with product positioning
April Dunford, a startup market strategy and positioning expert identifies that many startups misunderstand the concept of positioning. April defines positioning as how you are uniquely qualified to be a leader in something that an identified market segment cares a lot about. This immediately tells you that you need to identify how you can be a leader in your market, and that you need to already have an identified market segment, and know what they care about.
April has supplied us with an easy to follow product positioning template to help identify what is required in order to position your SaaS in a unique and meaningful way.
Many startups get stuck on identifying what their primary differentiation is and many of them believe that this needs to be an amazing feature or concept that has never been heard of before. Wrong. The one thing that can set you apart from your competitors does not have to be a completely unique feature or price for that matter. Identify something in your business that most other competitors do not have. For Bleeper, it was the fact that we already had 60 000 WordPress users using our product via our dedicated WordPress plugin. That’s 600% more than our biggest competitor. Find that special something in your business that you can use to sell your product on your website. We will be identifying how to deal with identifying your target segment and key benefits in later articles.
Through market identification and discovering what’s important to your potential customers you will identify what content is required for your website to cater to those specific businesses. At Bleeper, we learnt early on that our market was predominantly startups and small businesses. This lead us to modify our website (three times) in an attempt to sell to that market.
Until next time, we leave you with an insightful video on how bad positioning can kill your product with April Dunford.