SaaS discovery should act as the foundation upon which every SaaS application is built. Too often, though, Saas businesses fail with discovery because they are too eager to launch their app.
Thorough and deliberate SaaS discovery can predict the success or failure of an application, so SaaS businesses choosing to forgo this foundational element will either spend a lot of unnecessary time and money revamping their application post-launch, or will find themselves another unfortunate failure statistic.
Keep reading to learn how and why the SaaS discovery process is such a powerful foundational exercise.
What’s Involved in SaaS Discovery?
SaaS discovery is a process akin to strategic planning, but rather than focusing on the overall business processes, we’re looking at the specifics of the SaaS application, its viability in the marketplace, and the product’s roadmap.
Specifically, we examine the following elements during SaaS discovery:
- Define the problem statement
- Define the proposed opportunity
- Define the market and customer
- Segment the market
- Target the market segments
- Position the solution
- Develop the roadmap
- Develop the business case
How can SaaS Discovery Predict the Future of an Application?
When executed well, the elements above can accurately predict the success or failure of a SaaS application.
For example, we discovered during the “defining the market and customer,” segment that the pent-up demand the client thought existed was actually isolated to a single industry.
This discovery alone will alter the entire strategy and roadmap of the application. Depending on how large and under served that specific industry is will dictate our go-to-market strategy and will impact the features offered in the MVP and future versions.
Using another example, perhaps the proposed opportunity isn’t as vast or expansive as the customer originally thought due to heavy competition in their space. While competition wouldn’t necessarily mean we halt development, it could absolutely affect the pricing model and dictate which features should or shouldn’t be included. If there are a dozen competitors offering a calendaring feature but none of them are offering chat-bot support, we might look to separate and add value with features outside the competitive landscape.
Metisentry on SaaS Discovery
Metisentry, dubbed, “The SaaS Factory,” knows the importance and value SaaS discovery can provide. Our UX/UI, product, and project managers have helped SaaS startups find greater success through discovery. If your SaaS business is just starting out, is in version 2, or has plateaued, contact us today and learn how the SaaS discovery process can help you reach the next phase of growth.