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How SaaS Businesses Respond To Pandemic

SaaS companies that are agile enough to innovate their products to meet upcoming consumer needs are likely to grow faster. Enterprise agility is key to success in the storm, and agile organizations are the ones that can respond quickly to changing corporate priorities, technologies, and consumers, ensuring positive outcomes for the organization. [Sources: 1]




The pandemic has shown one thing: most workers work less than 30 hours a week and less than half as much as they used to. It has led to a significant slowdown in the economy, which has given the majority of us a lot of time to think about how we do business and how we do it efficiently rather than efficiently. Lean Operations to continue learning and innovate and help us grow faster, not only in the short term, but also in the long term. [Sources: 1]

Economic uncertainty has created new concerns and we have a lean team that can respond quickly to consumer feedback. Our company believes that our products and services are in high demand not only in the USA but also worldwide. [Sources: 1]

Companies with multiple levels of hierarchy often have a hard time working in such situations, but in this case, we do not. [Sources: 1]

In the pre-pandemic era, busy entrepreneurs were so caught up in bureaucratic hurdles that they ran a business and struggled to find enough time to do value-added activities. As we move out of the post-lockdown hybrid phase, companies need tools that help them do business in ways they haven't done before. Events have clearly conspired to bring about a 180 ° turn on the issues that matter to small business owners. [Sources: 5]

As I said, many small businesses are managing remote teams for the first time, and it pays to use SDR and AE in customer success roles to help existing customers extract as much value from the software as possible while retaining valuable team members. As I mentioned in my previous post about the post-lockdown hybrid phase, it is difficult to generate new revenue, now is the time to attract as many customers as possible. [Sources: 5, 7]

Although this is a good topic for a separate contribution, I would like to share some observations and recommendations based on what I have heard from SaaS executives who have already responded to this crisis. [Sources: 7]

Companies that deal with consumers are finding it increasingly difficult to provide their services. Customers pay once for the service they receive and there is always the option to cancel if they feel it is right. [Sources: 6, 7]

In recent months, COVID-19 has taken the world by storm, and while it is reasonable to say that much has changed for individuals and businesses around the world, it is interesting to see how SaaS companies are reworking themselves to respond to this global pandemic. This global pandemic has thrown a variety of services and industries out of balance, and SaaS companies are bearing the brunt of the virus. [Sources: 6]

To survive this crisis and keep users post-COVID-19, SaaS companies need to adapt and respond to the new landscape their customers face, and adapt their business models and business models to these new landscapes. [Sources: 0]

The right response, however, is to empathize with the users of your brand and respond to their needs. For SaaS companies like the ones mentioned above, finding ways to selflessly support your customers, listening to your users "needs, and using exclusive data to create unique content will enable brands to inspire lifelong loyalty by empathy and support customers in times of need. [Sources: 0]

The Personas co-founder and CEO began to notice the impact of the virus on startups. In an effort to gather data that would be useful to startups and other small businesses from the subsequent economic slowdown, they held a hackathon over the weekend. The Forbes Technology Council is the world's largest and most influential technology advisory board for small and medium-sized enterprises. [Sources: 0, 4]

The team has compiled a list of free and discounted SaaS products and services that start-ups can use to stay afloat in these uncertain times. Customers cannot cancel contracts with providers, but can focus most of their focus on the pandemic and leave other projects, even those of the SaaS provider, by the wayside. Organizations do not necessarily need to target their offerings at customers, but they should show understanding and work with them to re-prioritize. [Sources: 3, 4]

While the customer's success team is aware of how customer priorities can change in a crisis, the SaaS management team should be looking for change to deliver value on a broader basis. Although the team may not be able to outsource a COVID-specific solution in a short time, don't be surprised if some of the resources once assigned to a particular product are reallocated to COVID-specific projects. [Sources: 3]

A SaaS-based model that is carefully structured to support unique business needs can be a very useful resource as companies continue to respond to new and often unexpected challenges. [Sources: 2]






Sources:

[0]: https://www.forbes.com/sites/forbestechcouncil/2020/07/02/saas-brands-responding-to-covid-19-critical-steps-to-take-right-now/

[1]: https://www.expresscomputer.in/guest-blogs/learnings-from-covid-19-building-a-pandemic-proof-saas-business/59494/

[2]: http://www.johnpobrienesq.com/how-saas-companies-can-navigate-the-covid-19-impact/

[3]: https://www.clientsuccess.com/blog/the-impact-of-covid-19-on-saas-companies/

[4]: https://www.engine.is/news/startups-supporting-small-businesses-through-the-pandemic

[5]: https://www.localogy.com/small-business-saas-priorities-shifting-from-efficiency-to-mobility/

[6]: https://medium.com/justez/how-saas-companies-are-responding-to-covid-19-76aa1714a808

[7]: https://blog.austinlawrence.com/blog/pandemic-marketing-pricing-and-packaging-for-saas



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©2020 by Houman Asefi. 

Sydney, Australia