By now you’ve learned that in order to succeed in the SaaS space you need to upscale deals and hyper-focus your marketing and sales efforts via account based marketing. But what good is targeting the enterprise and arming your sales team with extensive training if your product development doesn’t keep up with enterprise needs?
While there’s no one-size-fits-all template for building a great SaaS company, there are a few steps you can take to ensure your product keeps up with large-scale company demands.
One thing that always surprises vendors when scaling up market is the length of security assessments that your enterprise buyers will put you through. Even if you aren’t dealing with highly-sensitive information, this is always a sticking point when trying to close bigger deals.
What you need to remember is everything to an enterprise buyer is sensitive.
They can’t take a risk on a SaaS vendor whose system will be holding business-critical information. This means that you must invest in getting your system to a state where it can support the various security tests and scrutiny that any major enterprise buyer will put in front of you.
To succeed, you must invest in building out an InfoSec team to secure both your internal process and your product. The number of headaches that this will save cannot be understated.
In addition to security concerns playing a role in the contract, service-level agreements (SLAs) will be taken very seriously.
When you have 100 separate SMB customers, intermittent product downtime likely won’t make or break a deal. But when a large company has invested heavily in your solution, you need to be ready to support the necessary scale to ensure your product isn’t constantly going down.
When we started GoSpotCheck (Techstars Class 10), we had a relatively standard and high level SLA. But once you start to make a big name for yourself in the enterprise space, you’re held to a higher standard against your SLAs.
It is critical that everyone on the team, especially engineering, is aligned with the SLA and has agreed to develop product with these standards in mind.
Keeping in mind that everything matters exponentially more when you’re dealing with enterprises, role based access is a must. Large companies are inherently complex. This means that your solution will likely be used by many different users in various groups and levels at the company.
If your solution is not prepared to support varying roles and access levels, your solution will not be a fit for the complex needs of that business.
The more granular you make this from the start, the better. While it may seem complicated and complex internally, it will seem thorough and well thought out externally—a must when looking to win enterprise deals.
Going from SMBs to enterprise deals doesn’t happen overnight. There is endless diligence and numerous tactical components to succeeding as you scale up.
Although there is no way to guarantee success, and it’s nearly impossible to mirror another company’s triumph, there are ways to minimize getting lost in the shuffle.