Ben Cotton says, “Back in 2011, Marc Andreessen announced in a seminal WSJ essay that “software is eating the world.” Five years later, his thesis was right — software as a service (SaaS) companies have and will continue to takeover or disrupt large parts of the economy.

This change has been fueled by technology: It’s now easier and cheaper than ever before to develop software, and with 3.5 billion people having access to the internet, the potential customer base for SaaS companies is vast. This perfect storm of rapidly lowering barriers to entry, plus access to more customers, has seen software take precedence over hardware.

While technological advances have spurred software development, it’s the subscription model favoured by many SaaS businesses, which has transformed it into a thriving industry. SaaS companies typically charge a subscription for their product, which is delivered and stored within the cloud. The subscription business model means companies reach profitability over time and must continually provide value, otherwise their clients will become at risk of churning”.

7 Tried-and-True Strategies SaaS Businesses Are Using to Grow

HubSpot

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