Businesses were already going through dynamic changes in their organisation even before the pandemic. But this year has accelerated these changes and forced organisations to adapt quickly.
With this year wrapped up, many businesses remain optimistic that the next year will provide new opportunities. Today’s future industry trends are fast-moving and shaped by customer behaviour. How, as a business, will you be able to adapt a single business strategy that will suit your market’s preference while also considering the chaos brought about by the changing times?
The short, unsatisfying answer is that you simply can’t. What you have created this year might already be outdated and not work next year – and with the continuing uncertainty prevailing, it’s time to create a strong GTM strategy that responds to the current business trends.
You can future proof your business when you adopt and capitalise on trends that will impact the industry and your business. So here are three business trends for the SaaS industry that you should consider for growth.
1. Meet your customers wherever they are.
Businesses can reach customers wherever they are – at home or around the globe. The adoption of new technology and advancement to the cloud has shifted customers’ needs and preferences. The question is, will this still be the case in 2022?
According to “The Future of Jobs Report,” the adoption of cloud computing, big data and e-commerce remain high priorities for business leaders, following a trend established in previous years. 72% of respondents are likely to expand their adoption of cloud computing by 2022. It will make businesses more agile, collaborative, efficient and scalable while reducing costs.
Make your way to the cloud; your customers will be waiting for you there.
2. Improve your personalisation experiences
Today, more businesses can build relationships with their customers through personalisation. They are completing less traditional sales interactions, but instead, they focus on customer success and becoming more intimate and personal to customers.
Research from Forbes found that customers see themselves as unique people with unique needs. They also want to receive services no matter what channel they choose.
They prefer a personalised relationship rather than a traditional anonymous sales transaction. The challenge is how do you create this unique and personalised experience? Organisations will need to work hard to truly understand their customers and adapt to their expectations, with data being critical to this. How are you leveraging data in your organisation?
3. Customers want immediate results and solutions.
Customers’ behaviour has changed over the past few years. And that includes their expectations of the products or services they purchase. Customers are more likely to acquire product offerings almost immediately and are more likely to choose the one that can provide instant solutions to their problems.
This change in priorities may result in long-lasting effects as 50% of consumers try new products. And this trend has also paved the way for SaaS growth in numbers. Gartner forecasts end-user spending on public cloud services to grow 21.7% and reach $482 billion in 2022.
Freemium offerings will be a crucial driver for customers looking for an immediate solution, and organisations will need to give away more value early in the buyer’s journey.
As we adapt and move to a more customer-centric era, the customer becomes the forefront of everything we do, and this includes the product, and sales experiences organisations create.
With changing circumstances, it doesn’t become easier to attract and deliver value to your customers. To go next level, you need to grow and continuously provide value.
Businesses need to spend time reconfiguring their operations and strategy and finding an opportunity to transform them. As you work on your next year’s plans, it is crucial to stay on top and ahead of your game – otherwise, your competitors will take advantage of you and your customers.
By considering these trends as you kickstart the year, you need to prepare yourself for the challenges that will impact your industry. When agility is needed for all organisations to survive and thrive, you should constantly analyse the trends in the SaaS market to remain proactive.
Take the future of your business to the next level
One of the requirements for businesses to grow is adapting to the changes and understanding the drivers contributing to your business growth.
Your strategy is always at the forefront. Have a salient and strong GTM strategy that addresses the needs of your customers and your organisation.
Our goal at Ellivate is to partner with organisations and help them lay the foundations on their journey to hypergrowth. Should this also resonate with you in your business, let’s start a conversation by booking a meeting here.
You can also look at our program offerings to help you and other organisations scale by visiting our website.
Ellivate is the expert partner helping organisations and their go-to-market team scale.
Our powerhouse team of industry experts – with a combined 60 years of experience across the fintech, corporate and technology spaces – will work alongside your business to achieve your goals.
We have a shared passion for working with businesses to achieve rapid growth and apply an authentic, human layer of expertise that addresses the real challenges and concerns at the heart of your business.
We will work alongside you as a trusted and expert partner. We get in the trenches and ensure every solution is embedded within your business.