Why competition is better for your SaaS

Why competition is better for SaaS

If you are building a SaaS, you are probably not the only one.

Many others are probably doing the same as you and...

It shouldn’t be a bad thing.

Competition is an advantage; imagine an idea that no one executed or tried to build!

In this article, we’ll dive into some reasons why you should enjoy your competitors.

Ready? Let’s dive into it 🚀

1. Market Validation:

The existence of competitors in the market validates the demand for the type of solution the SaaS founder is offering.

If multiple companies are addressing a similar problem, it reinforces the idea that there is a real need for that solution.

If you don’t have any competitors, this may mean that they tried to do the same, but all failed or...

Maybe there is no need for your idea!

2. Market Education:

Competitors help educate the market about the value of the solution.

This shared effort in educating potential customers can reduce the burden on any single company and contribute to faster market adoption.

They will educate your target audience on the problem you are solving, and this will make it easier for you 😜

Especially if it’s a new idea, people are still not educated enough to buy from you 😢

3. Customer Feedback and Improvement:

Competitors can be a valuable source of customer feedback.

Understanding what customers like or dislike about competing products can help a SaaS founder make informed decisions about product enhancements and improvements.

You can ask their customers what they don’t like and make a better version 🚀

How to be better than competition ?

But, the thing is, how to encourage users to use your app ?

Well, you need to have a great app, less bugs, less friction, better UI UX . . . But how ?

Well, you can use FeedbackLoop for this, it will allow you to get bug reports from your current users easily & not only that, it will also allow you to manage, track . . . all the created tickets.

Join now FeedbackLoop for 100% free & make a better app for your users with your users !