B2B2 SaaS product customization is a boon in today’s world.
Here is why?
The popularity of B2B SaaS offerings has greatly increased in popularity in recent years.
A recent survey report shows that the global B2B SaaS market is projected to reach $462.94 billion by 2028, growing at a CAGR of 18.5% from 2022 to 2028.
For B2B SaaS vendors the competition to stand out from the crowd is greatly high.
Fortunately, customization enables vendors to tailor software products to suit the needs of organizations and companies.
This is a great idea because the modern software user wants products tailored to their specific needs.
However, too much product customization might affect your product’s core performance.
So is product customization a great idea for B2B SaaS?
In this article, we discuss the pros and cons of product customization to help you determine whether you should customize or not.
Let’s get started.
B2B SaaS Product Customisation: Pros
Here are the benefits of customizing your B2B SaaS product:
1. Enables Your Company to Stand Out From the Crowd
As more companies come into the B2B SaaS world, the competition for customers soars. This is where understanding subscription management for SaaS businesses becomes extremely important.
The first advantage of B2B SaaS product customisation is that it enables you to tailor your product to match the specific needs of your target customers. This is especially a great idea because many enterprises are seeking specific solutions to solve their specific needs.
Customisation makes them feel acknowledged. Besides, customised software helps them avoid incompatibility issues they face with generalised software solutions.
Many enterprises also value products that can be integrated seamlessly with their existing platforms.
Customising your software products to suit your customers’ needs makes them relevant which gives you the edge over your competition.
2. Helps to Develop Software Products for Specific Use Cases
The biggest challenge the modern B2B software companies face is purchasing an out-of-the-box solution that specifically matches their use cases.
Product customization enables you to make sure every update released is tailored to the product use case. This helps to improve customer experience.
In fact, this is crucial if you plan to introduce complex integrations and extensions for your product.
3. Better Customer Satisfaction
In today’s world where customers have a host of options when it comes to software products, delivering better customer satisfaction isn’t a choice but a priority.
According to Attrock post, defining and understanding your audience is a great idea when developing a sales strategy for B2B SaaS.
To create software products that deliver great customer satisfaction, you need to understand what makes them feel satisfied when using the product.
The good news about customization is that the product is developed with the user in mind.
Your target companies (through their feedback) inform you about their specific needs which help you develop software products that make them happy and satisfied.
This ultimately helps you gain ongoing customers taking us to the next benefit of B2B SaaS customization.
4. Improves Customer Loyalty
Customization enables you to interact with SaaS customers and provide them with products that are tailored to their specific needs—making them happy at all times.
This helps to strengthen customer loyalty and trust.
As customers feel more valued and acknowledged they become your loyal product users and refer you to other customers as well since they know the value they derive from your product.
For example, pharmaceutical companies boost their business with help of their loyal medical professionals. These companies build their digital HCP engagement strategy including their loyal medical professionas.
These loyal professinals share and promote their services and products on the different HCP engagement marketplaces.
This is a cost-efficient customer acquisition technique as you don’t spend more money and resources promoting your products.
B2B SaaS Product Customization: Cons
Here are the disadvantages of customising your B2B SaaS products:
1. It Can be Costly in the Long Run
Aside from all the benefits product customisation delivers, you’ll need high-skilled developers to achieve this.
Modern high-skilled developers charge insane salaries.
Besides, the product customization process can be time-consuming and resource-intensive.
Be that as it may, using your in-house development team means that they will not dedicate 100% of their time to your other product.
2. Rolling Out New Features Can Be a Long, Buggy Process
You’ll do a great deal of heavy lifting when rolling out new features and this can keep you from delivering great customer satisfaction.
Unfortunately, outsourcing the process can end up delivering products that aren’t bug-free to your customers.
Pro tip: If you’re looking for a reliable business formation service that can help you start your B2B SaaS product company but aren’t sure where to begin, Read this SmallBusinessHQ article shares a list of business formation services to help you make an informed choice.
Ultimately, B2B product customisation is the way to go especially in today’s world where customers demand products that are tailored to their specific needs.
Aside from the benefits discussed above, product customization helps B2B SaaS providers generate more revenue and achieve greater business growth.
However, it’s important to understand the other side of the coin before you jump on the bandwagon.