B2B SaaS continues to expand. Data shows that marketing tech is now more than 7,500 companies strong! The demand for CRMs is arguably growing more and more thanks to remote working demands. But is there any room for B2B SaaS startups to grow?
B2B SaaS: Where We Are Now
B2B SaaS is, according to reports, heading towards a global value of more than $210 billion by 2023. This growth, arguably, is likely due to the rise of streamlined tech and smartphone access. Portable CRM and workflow management are, by and large, much easier to access now than the desktop models of yesteryear.
By yesteryear, we perhaps only refer to 2011. In the past decade, the B2B SaaS market has grown saturated. As a result, startups innovating in the field may find it harder than ever to cut through the pack. The need to find innovation or spark to get ahead in SaaS is more critical than ever.
Crucially, the most successful B2B SaaS innovators, argues Kinsta, are the ones that actively solve problems. Tom Zsomborgi, writing in September 2020, asserts that finding paint points is crucial for B2B SaaS venture success.
Zsomborgi identifies a three-point model. People want to save money, save time, or make more money. Ideally, they want all three. However, even if your SaaS innovation does drill down to this extent, the competition is still fierce.
Do New Startups Have a Chance to Break Through?
Yes. However, experts suggest that precision, as well as clear innovation, are essential. So, too, is having a long-term business plan. Sustainability, particularly in uncertain times, is crucial in competitive industries.
The ideal SaaS model to cut through the competition is likely to tap into something new. Many will argue that SaaS innovation has ‘run dry’ – this may be a little short-sighted. The way of the venture founder and CEO is to look beyond these supposed boundaries and parameters.
It can seem as though breakout SaaS companies such as Slack and UserPilot have everything under wraps. However, venture innovators can and will – to borrow an old term – think outside the box to push for new interest.
Arguably, there will always be new ways to collaborate on projects and ensure professionals are on the same page. However, it’s getting harder for ventures to breakthrough. Is persistence the key?
Long-term, founders looking to break through into the burgeoning world of B2B SaaS should take heart. Experts agree that looking at the longer picture, rather than short-term wins, is the way forward to break down boundaries. Innovative breakthroughs can take time to formulate fully. However, only those with that ‘killer’ edge and attitude are likely to win through.
VCs and investors interested in finding innovative B2B SaaS startups may use Fundz for that perfect partnership. While the industry may be fierce, new entrants in the field are hardly falling away. This will prove to be an exciting decade.