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Software as a Service (SaaS), also known as cloud-based software, has transformed the enterprise software industry over the past decade. SaaS companies build their products on top of cloud infrastructure and provide solutions for multiple levels of enterprise business operations and across most industry verticals.
SaaS providers that successfully build out their solution ecosystems will be better positioned to drive retention going forward. They can increase the stickiness of their solutions by expanding the breadth of products in one of three ways: |
- In-house Strategy. Most SaaS companies begin with one focused solution, but once they have mastered that product and have run out of headroom in the addressable market, they may look to build complementary products that expand the scope of their core offering.
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- Acquisition Strategy: If building in-house is too risky and there are relevant companies with products that closely align with their core offering, SaaS vendors should look for opportunities to acquire companies that strategically fit with their own initiatives to expand their product offerings.
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- Strategic partnership strategy: SaaS providers can work together to increase the number of pathways to and from their solutions, provide more ways for customers to...
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Other report highlights you don’t want to miss… |
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This is just a preview of the information and insights you'll find in the Software as a Service report by Insider Intelligence. Purchase the report today for $495 to access the full analysis. |
