In 2020, the cloud market and its most notable players, such as Google, Microsoft, Adobe, and Salesforce, cannot be taken lightly. Cloud software distribution, namely SaaS, PaaS, and IaaS models, invaded the technology world and will not go away any time soon. At the same time, the COVID-19 pandemic increased the importance of remote work for a business to survive, as well as high profitability.
That is why the demand for SaaS solutions that tend to be more cost-effective has risen markedly. And we believe that it is better to ride the SaaS wave now rather than regret missed opportunities later.
So we have prepared for you a list of SaaS product ideas that will be a great deal for cloud-based solutions for startups in 2021.
Why are SaaS products a good idea for startups?
To begin with, SaaS technology is not a newcomer in the world tech landscape as it reached mainstream adoption almost ten years ago. This brings huge benefits associated with network effects that generate nearly 70% of value in the digital world.
Let’s find out what the network effects are and why they are so valuable, especially for new business startup ideas.
A network effect is the mechanism according to which the value a user derives from a service depends on the number of its users.
The correlation here is easy to grasp. The more customers your SaaS startup ideas attract – the more value a particular user gains thanks to the direct network effect. Also, there are indirect network effects that motivate non-users to try the product.
It may sound complicated, so we have prepared an illustration of how good ideas for startups grow. Below, you can see the network effects explained in the example of the SaaS e-commerce platform.
What SaaS benefits lead to the mainstream adoption of this product model?
SaaS startup ideas bring their owners average numbers of approximately $58,000 per month with a growth rate of 50%. That is why SaaS application ideas are very popular among startup owners.
The SaaS market is expanding rapidly and drawing more great ideas for startups. And the reason is that the SaaS delivery model provides many benefits both for businesses and customers. In our detailed guide on how to build a SaaS product, we have discussed the benefits of the SaaS model for users.
And now, let’s go through the main advantages of cloud-based solutions for startups that bring profit to new startup ideas creators.
- Greater business agility
Business agility is the capability of a company and its new startup ideas to adjust well to the business environment changes. According to the study conducted by AbsolutData, this characteristic makes businesses more competitive.
The SaaS industry is well-known for being a cost-effective domain boosting operational efficiencies. Thus, you reduce the time required to implement and to test your SaaS product ideas.
- Better scalability
This point is by far the most referenced benefit of the cloud-based solution for startups. Obviously, it gives the strategic ability to scale your business with your startup’s growth. But also the SaaS development allows for tactical resource allocation due to the elasticity of the cloud computing power.
Improved on-demand scalability in SaaS solutions is one of the characteristics that reduce the costs associated with your product. If you want to learn more about the expenses you should bear in mind when launching a software-as-a-service product, you can turn to our thorough article on how to calculate the cost to build a SaaS app.
- Location independence
When developing your SaaS application ideas, you may target any audience you can think of, depending on your resources. This approach encourages you not to rely on traditional ways when implementing the best ideas for startups.
Many SaaS companies of all sizes operate in a fully remote mode – Zapier, Hubstaff, Buffer, Basecamp. By the way, did you know that Basecamp was the first-ever application built with Ruby on Rails?
Now that we have discussed the benefits of the SaaS approach, we want to look into the best SaaS startup ideas. So let’s proceed to the dozen top SaaS application ideas that will bring you profit in 2021.
12 SaaS product ideas to boom in 2021
Why do certain new business startup ideas turn a lot of profit, and some just fail? The most popular reason is lack of market need. Actually, 42% of startups fail because the ideas for business startups did not bring the interest of the target audience.
So let’s find out what are the SaaS application ideas that are ready to bloom in 2021.
1. Marketing automation
Poor marketing remains one of the most widespread reasons why even great ideas for startups fail. You can use this for your benefit and come up with marketing technology solutions for startups. This field is ready to welcome good SaaS product ideas that facilitate different aspects of marketing and brand advocacy.
Value. Marketing automation software streamlines marketing workflow and measures the results of promoting campaigns. Such platforms automate many aspects, including email, SMS, and social media management. The development of such software is considered to be one of the best ideas for startups.
Example. Duel is a marketing automation SaaS startup that handles referral and social media marketing.
Research on organic growth phenomena allowed Duel and its great SaaS startup ideas to raise £1.8 million through seed investment.
Telemedicine allows health care specialists to consult their patients online. According to Fortune Business Insights, the global telemedicine market’s size is projected to reach $185.66 billion by 2026. This makes telehealthcare a fertile ground for profitable SaaS application ideas for business startups.
Value. Telehealthcare software brings accessibility and convenience for both doctors and patients. This software uses such tools as live and stored video-conferencing, remote patient monitoring, and mobile health.
Example. BetterHelp is the largest health e-counseling platform that connects patients with accredited therapists. Teladoc Health acquired this startup for $30 million, making BetterHelp one of the most profitable SaaS product ideas.
One of the important features of telehealthcare software is high security standards. If you want to learn what software-as-a-service safety is all about, check our SaaS security guide.
3. Team communication
The domain of team collaboration is expected to grow continuously and attract more ideas for SaaS startups. It is led by worldwide business digitalization and the need for visual data exchange, including smart meeting rooms. Many profitable SaaS application ideas were launched in this domain. But it is ready to grow and welcome more great startup ideas.
Value. Team communication software provides tools for effective conversation among employees. Online collaboration software encourages better team collaboration, improved project management, and boosted productiveness.
Example. Mobilize is a community management platform that provides a private space for a professional network. This SaaS startup raised $15.3 million from investors and paved the way for other good ideas for startups in the field of team communication.
4. Social media management
In 2019, social media usage accounted for nearly one-third of the time spent online, reaching 2 hours and 24 minutes daily. That is why social media posts are a great way for businesses to get cost-efficient promotion by interacting with the audience. This field produces many profitable SaaS product ideas.
Value. Social media management tools streamline the marketing workflow by covering many social media in one place. Also, such tools ensure the content to be delivered timely to the right audience due to scheduling.
Example. ContentCal is a B2B SaaS content marketing platform. It helps build a great online presence for brands thanks to social media posts automation, scheduling, and analytics. Based on one of the most interesting SaaS application ideas, this app brought its founder $6.4 million through seed investment. Now it has nearly $1 million monthly revenue.
Do you want to recreate the success of ContentCal? Learn more about launching a software-as-a-service business in our article on how to build a SaaS startup.
5. Video rendering and editing
In today’s world, digital marketing is experiencing a spectacular boom. Video content is the largest traffic booster as it increases organic traffic by 157%. Real-time rendering is great for boosting businesses’ online presence, and this field is not so widespread yet. But it is only a matter of time since video rendering technology solutions for startups are considered to be among the top SaaS application ideas.
The market here is represented by large companies like Adobe, Nvidia, Autodesk, and many others. Here, the software applications are created for professionals, thus the rates are high and the pricing models are not so flexible.
Value. Video rendering is one of the most resource-demanding computer processes, especially in real-time. Many non-professional video editors find it difficult to render media using professional software. That is where video editing and rendering SaaS solutions come into play.
Example. VEED is a SaaS startup that facilitates video editing and creating videos from podcasts. This SaaS product idea brings its founders $180,000 per month with a number of visitors reaching 313,000 each month.
6. Appointment management
Meetings represent a significant part of running any business. And appointment management software is aimed to optimize this important activity. GlobeNewswire predicts that the appointment scheduling software market will reach $546.31 million by 2026. Also, the SaaS segment of this market will continue dominating and welcoming new startup ideas and SaaS solutions.
Value. Appointment scheduling software helps organize customer and staff scheduling and calendar management. Well-designed SaaS product ideas for appointment management significantly improve the workflow. Great appointment scheduling software makes the working process more flexible and efficient.
Example. Calendly is the SaaS solution for appointment management, connecting over 1 million people. It allows for scheduling team and personal appointments and group events. One of the most interesting SaaS startup ideas in the past, Calendly generated nearly $70 million in 2020.
7. Content planning
Content strategy creation is a thoughtful and time-consuming process. HubSpot states that 70% of companies are actively investing in content marketing. Thus, the demand for SaaS product ideas in content planning is ever-increasing.
Value. Content planning solutions offer a platform for creating, planning, producing, and analyzing content. This software provides marketers with tools for content research, optimization, and distribution.
Example. CoSchedule is a SaaS-based platform for content planning, organizing, and tracking. In 2020, the company was recognized as one of the top 10 marketing software providers on the Inc. 5000 list, being one of the most successful SaaS startup ideas brought to life.
E-invoicing is supplied by accounts payable software. According to the Zion Market Research, the cloud software will dominate the accounts payable market. Thus, this innovative domain will give rise to many profitable SaaS startup ideas in the nearest future.
Value. Fintech startup ideas improve invoice management by accelerating invoice approval and reducing fraud. Invoice automation ensures the accuracy of transactions, saves resources, and enhances supplier relationships.
Example. Beanworks is an accounts payable automation solution that makes invoicing ninefold faster. Thanks to this great SaaS product idea, Beanworks raised $12.3 million through private investments.
9. Virtual assistant
AI virtual assistant for businesses is a program that interprets and uses human language to engage customers. In 2019, the global AI assistant market size was growing at a CAGR of 34%. Thus, this field is waiting for SaaS application ideas that will develop conversational commerce.
Value. Good SaaS product ideas for virtual assistants improve customer experience and reduce costs. Also, such software can handle team scheduling, planning resources, or measuring employee engagement. At the moment, the capabilities of virtual assistant software are still subject to exploration.
Example. Conversica is a leading SaaS provider of AI virtual assistants. Conversica captures, scores, and manages leads for sales and marketing teams. Being one of the most powerful SaaS application ideas, Conversica raised $107 million of seed investments.
10. OKR Tracking
OKR stands for Objectives and Keys results and is a system of goals that creates alignment and engagement around the company goals. Emerged recently, this domain offers great opportunities for SaaS startups.
Value. OKR tracking, with its great SaaS product ideas, helps focus on the goals of a company and measure the results. OKR trackers also provide regular reports and dashboards to visualize the progress. In such a way, OKR tracking software keeps teamwork visible and measurable.
Example. Timely is a SaaS application that uses AI to build OKRs. With Timely, you can automatically record the time spent in work applications. Based on one of the most innovative SaaS application ideas, this solution raised $1.1 million through seed investment.
Read our article on how the Codica team created a time-tracking chatbot that monitors the development workflow.
11. Freelancer CRM
The freelance CRM sphere provides a wealth of profitable SaaS product ideas. This type of software shares many things in common with usual CRMs. However, there is some difference between those solutions as freelancers are handling all the work by themselves. The on-demand nature of ideas for SaaS startups makes them a perfect fit for this domain.
Value. By using a CRM, freelancers get a convenient way of tracking customer interactions. Freelancers also get analytics, email marketing, time tracking, and reporting tools.
Example. Sendinblue is a cloud-based digital marketing platform that provides CRM and marketing automation. Founded in France in 2012, this SaaS solution is a world-leading digital marketing platform now.
The last but not least among our 12 best ideas for startups is SaaS accounting software. It is an application that records, processes, and reports the financial transactions of a person or a company. The SaaS product ideas in accounting are not so new. However, the demand for such software and fintech startup ideas is still high.
Value. Accounting software offers inventory and tax management, payroll system, financial reporting, and analytics. Top startup ideas in accounting software track and organize your financial data and offer an accurate look at your finances.
Example. Daxko is a SaaS-based company that provides operations and financial management solutions. The SaaS application idea that allowed to create Daxko Accounting product raised a total amount of $7.8 million.
These are the top startup ideas for your SaaS application as of 2021. We believe that the SaaS product ideas we have described ought to inspire you in launching a successful startup. However, you should bear in mind that establishing profitable SaaS startup ideas is not an easy task. And one of the starting points for your journey will be the quest for the right SaaS application development company.
If you need any help with putting your SaaS application ideas into action, do not hesitate to contact us. We will assist in the implementation of your new startup ideas through SaaS development. Also, you can turn to our works and find some inspiration there.