The business model “software-as-a-service is now the order of the day. In 2021, the system was estimated to be worth $152 billion. It’s a new trend of companies creating digital platforms for customers. In addition, it’s the height of remote software access, resulting in many SaaS product ideas.
You’ll need an unbeatable tech asset to get into the big leads. It needs to exist with a solution-centric base to make life easier. As a plus, features should be top-notch and easy to grasp. It’s a system global enterprises like Google, Adobe, and IBM have mastered.
Are you feeling overwhelmed? Don’t be. We’ve written this blog to be a cheat sheet for your SaaS product ideas. Of course, you’ll still have to work, but there’s a catalog to work with. So, read on to find your billion-dollar micro SaaS idea.
The Mainstream Adoption of the SaaS Business Model
Currently, it’s a world run by the SaaS business model. Projections are that the SaaS business model will hit a valuation of $208 billion by 2023. It’s a corporate model for companies to create a product with total customer access.
In operation, this client freedom extends to features, technical and support services. The company, on its part, takes responsibility for software maintenance and future additions. You might think this gets stressful, but it’s an expense they’d take on. After all, they still get to set subscriptions and offer prices.
With this system, global market expenditure clocked $3360 billion in 2019. Microsoft has also contributed to that figure. Every year, it spends $17.2 billion on research and development.
The industry did suffer from the pandemic, but it’s getting on track. There’s no stopping the global rise of developers so that we can expect good things in the coming years.
Why Starting a Saas Company Can be a Lucrative Venture
We already know that having a SaaS company is perfect for solving customer issues. Let’s get a little selfish and see what’s in store for you;
Better Scalability Options
It’s not the perfect opportunity to create quality software. A SaaS company lets you invent software tools perfect for your business. Then, depending on the customer situation, you can add or remove features. This freedom enables you to increase profit and user numbers at no extra cost.
Freedom to Operate Business Remotely
A SaaS company can handle daily operations from anywhere, thanks to its software base. Even when you’re not available, business transactions still go on smoothly. It also bypasses time zones and schedules so you can communicate globally.
Greater Business Adaptability
The corporate world has gotten more flexible over the years. SaaS companies are a direct response to customer demand changes. So, it’s necessary to adjust your business to meet up with consumer trends.
But, what meant complete structure shifts is now left to features and settings. These inclusions make all the changes without long-term disruptions.
32 Saas Product Ideas for Your Startup in 2022
You’ve made your findings on how to make your SaaS company a hit. Now, let’s talk about the quality SaaS product ideas you can choose. There’s no shortage of software marvels out there you need one to sync with. That said, we’ve made our findings and curated this list of profitable micro SaaS business ideas;
1. NFT Marketplaces
The crypto boom didn’t lead to seamless transactions. Instead, it provided decentralized ways to sell and buy digital items. This technology makes NFT marketplaces perfect for crypto enthusiasts to do business. It’s a solution-driven platform on the blockchain for the NFT faithful to trade.
As a for-profit, the product lets you attach transaction fees. These include listing fees for getting the product noticed. Transaction fees are also linked to every sale. You can also set up an affiliate program to build a community with your business at its center.
To launch the idea, you can choose to start from scratch or follow an existing template. The latter is a better option considering the cost. All you need is to clone the features of marketplaces like Opensea and Rarible.
2. Social Media Management Platforms
If you’re looking for something outgoing, this is your safest bet. It’s a service model that automates the social management and interaction process. As a result, you can help your users streamline their social media posting and audience interaction with little effort.
Your social management product can also help users save time and money. By using it, posts are put on schedules and uploaded.
3. AI writing Assistants
The skilled literary human being is a lean, mean writing machine. Churning out words with speed is an asset that’s also relatively easy to monetize. That said, to err is human, and it’s inevitable that grammatical errors will feature in written work.
That’s where you pop in with your AI writing assistant. With this literary software tool, content creation becomes less of a chore. Spell checks and readability scores also analyze the content. These features guarantee the written information comes in the proper format. If you need a guideline, look at the Grammarly software.
4. Cryptocurrency Exchanges
There’s bound to be a new coin popping up somewhere every day. In some cases, it’s hard for existing cryptocurrency platforms to keep up. You can make this lack the focus of your business with a new exchange platform. It’s the perfect way to introduce the coins trading enthusiasts need to see.
For your platform launch, there’s no shortage of blueprints to follow. The first step is to examine the bitcoin industry and decide on your scope. Next, choose a location that’s not hostile and select a software service provider.
Finally, the closing steps need you to get proper licenses alongside liquidity options. Once that’s done, set up high-security features, and you’re set for business.
5. Image Design/Editing Platforms
It’s always a plus for companies to design and customize their images. Customers get to view something different and connect the image with the brand. In addition, software companies like Adobe have tools like Illustrator and Photoshop. These are perfect for high-quality images which brands can push to customers.
That said, things aren’t so rosy. Users still pay high prices for updates and unique features. So an alternative is in order, with your SaaS product being the perfect answer. Create a design software that’s affordable for users on a budget.
It should also have a free version that handles essential editing functions, e.g., light enhancement and cropping.
6. Video Rendering Tools
This idea is all about bringing improvements to already existing software. To be honest, video rendering software isn’t new, and the job still gets done. Yet, YouTubers and graphic designers keep wailing about the damage to their systems. Other functions don’t work, especially if you’re working on low-end software.
Try creating software that works for devices with low specs. It would solve the need for users to upgrade their devices for video rendering and then use your software. Sure, it’s a blow for giant tech companies, but you will make your mark.
7. E-learning Platforms
Online education is a growing trend that’s been successful so far. The ability to connect globally with tutors and learn any topic you want is astonishing. You can make a software donation to this trend with a platform for easy education access. It could be an unlimited source of education material or a way for users to have mock exams.
Tutors should also be a part of the creation process. The platform can also let them sell courses to interested users—no harm in making a personal profit and promoting a learning culture.
8. Content Planning Tools
Brands develop lots of content to get customers and also keep them entertained. Unfortunately, it’s become a hassle to decide what to go with daily. As a result, companies need to automate their processes.
You can create software that categorizes and schedules the content. As for features, it should come with a trend tracker to analyze the market situation. There should also be content suggestions to give new ideas to creators.
9. Payment Gateways
Payment gateways provide an outlet for users to get their financial transactions completed while purchasing something online. Therefore, building one that accepts payment methods, including cryptocurrency, is an asset. As a plus, you can set it up for international orders with accurate exchange rates provided.
Your payment gateway can also have an escrow feature. Funds will remain in trust for the receiving party until delivery. This setting prevents fraud with both parties.
10. Chatbots & Virtual Assistants
Chatbots are perfect for customer support. You don’t need to create a platform from scratch. Instead, come up with software that integrates with existing brands. This gives clients quick solutions.
11. Freelancing Platforms
Technological advancements have allowed services to show up online. As a result, the number is still expected to rise by 15.3% from 2021 to 2026. This development is worth cashing in. Platforms like Upwork and Fiverr have a blueprint for features you can focus on.
12. Accounts Management Tools
Account management tools have always been in demand because no one wants to lose track of their finances. So you can build software that handles basic tax operations, expense sheets, and cost management. That way, finances stay on course, and IRS issues don’t come up.
13. Online Appointment Management
Why go through the stress of visiting the doctor’s office to book an appointment. Having software that lets you book online is efficient and time-saving. With the right business plan, you can build this and scale it.
14. Marketing Automation Tools
The critical factor in any successful digital marketing campaign is consistency. You need to keep creating content and engaging prospective customers. But, in the long run, it gets very exhausting.
Building software that automates the creation of marketing campaigns and engagement with customers will go a long way. Besides, you assure users it is a significant problem solver.
15. SEO Keyword Finders and Planners
Proper SEO is the only way to rank high on the google search engine. Research and strategy for this system happen by analyzing volumes of web pages. Consider software that lets users scan top pages and get relevant keywords. The software should also examine the user’s current strategy and make suggestions.
Take Ahrefs or SEMRush, for example; these tools let SEO managers find relevant keywords, decide on what content needs to be created on each keyword, and conduct competitor analysis.
16. Email Hunter Software
Trying networking but not finding the target’s email can be frustrating. With email hunting software, this issue evaporates. This digital tool searches socials and work platforms. It does so until it finds the email in question. It’s better than sending a social media DMS with little hope of a response.
17. Free Images and Vector Platforms
As every graphic designer knows, visuals tell a better story. These are sentiment writers who include images in their work share. However, understanding its importance doesn’t mean they’re inclined to pay for it. Save them the trouble by creating a platform that offers free images.
18. Website Builders
Brands with websites where they can publish content are on top of the marketing game. For new businesses, it’s all about getting a platform for promoting products and services. You can create software for building, hosting, and launching a website.
19. Human Resource Management
With consistent company growth comes a wave of employee issues. These come up due to many staff requirements. Sure, you have an HR department, but it can be a lot for other humans to handle.
As a result, issues get overlooked, and a company could have a corporate mutiny on its hands. To work this out, you can create an HR management software that can handle minute employee issues. It will stick to a pre-determined operation plan so all issues will fade.
20. Job Seeking Portals
Companies are looking for high-functioning individuals to bring on board. This brings an opportunity for you to plan your next SaaS startup. The way number of job-seekers is increasing every day; there’s a need for more job-seeking portals.
You can make it your SaaS startup duty to build a platform for sharing job ads. On the part of applicants, you can create sections for CV uploads and real-time interviews.
21. Remote Hiring Assistants
Remote workers are an excellent asset for any global enterprise. They can deliver tasks worldwide, and office space gets saved. However, hiring these individuals can be tricky, considering the distance between employer and client.
Therefore, you can think of creating a software tool that lets remote interviews happen a breeze. These meetings will also take place at a synchronized time.
22. Resume Builder Tools
Qualifications and experience aren’t impressive until they’re put together. A resume builder would be fantastic to focus on. Users can input their information, and the software organizes it all.
You can also put in a premium assessment feature that examines a ready-made resume at a minimal cost. Then, it can make the necessary changes while providing a template to follow.
23. Music Streaming Platforms
It’s become difficult for most individuals to get through the day without tunes. Music streaming platforms like Youtube Music and Spotify provide an extensive list of music playlists to navigate any mood. These music platforms also show you customized music upon your listening history.
You can create software for your SaaS business to promote unknown genres and artists. It should also curate playlists based on what users have already listened to.
24. Video Streaming Websites
Streaming a video is a lot less than downloading it. Moreover, video content is easy to consume and tops the list of any other content type.
First, you can develop a platform like YouTube that lets users watch their favorite shows. Then, from a profit angle, you can set up a marketing system that shows ads alongside videos.
25. Property Management Services
This software would be handy for managers and users with extensive real estate portfolios. Your software would help them keep track of their investments. It will also be handy if they plan to sell or lease their property.
26. Project Management Dashboards
Project management tools have always been in demand, and there’s no sign of their popularity fading. Managers and teams need tools to keep track of their ongoing and incoming projects. So, you can expect players to jump into the creation of project management tools.
The advantage here is that you don’t need to come up with something entirely from scratch; instead, look at some already existing project management tools such as Jira and Bitrix. This will give you a good idea of what gaps you can fill and cash on it in the market.
27. Telehealth Care Portals
The software you create would remove the need to visit the doctor for a checkup. Accurate diagnoses and consultations come from qualified physicians. It saves both time and extra cost.
28. E-Invoicing Tools
These assets allow businesses to transfer invoices at a faster rate. Therefore, it is an essential product and one you should develop.
29. Workforce Management Tools
Many high-functioning companies have both onsite and remote staff. This labor force needs to be managed to avoid mixups. Build software that lets both factions communicate.
30. Data Security for Cloud Services
Cloud software threats include data loss, account takeover, and service traffic hijacking. You can launch a SaaS product that solves these issues and protect company data.
31. E-Wallet Services
All traders on the blockchain need a place to keep their hard-earned coins. You can create an e-wallet with crypto assets and has secure protocols. It should also have a backup set for users who have forgotten their login details.
32. Capital and Asset Management
Your asset management software will be vital for large companies. It allows them to track their assets and check performance stats. Your software can also help them measure vendor performance.
Now is the Time to Bring Your SaaS Product Ideas to Life
SaaS businesses are still expanding, and you have an edge in form of the above 32 SaaS product ideas. However, it’s best to hit the market running, so make your plans to launch your product.
At TechNerds, our SaaS services have helped more than 200+ exciting entrepreneurs launch their businesses and SaaS startups. These businesses are now making an impact in their relevant industries.
If the above list of SaaS product ideas inspires you to take the initiative, or you already have a product plan but don’t know where to start or what it takes to be successful, consult with our business and IT experts to discuss and launch your next big SaaS platform.
Got an idea on a saas product you’d like to go with? That’s excellent. You had the intention, and now you have 32 profitable SaaS product ideas. All that’s left is to execute your plans. The information we’ve provided cuts across prominent industries. This situation gives you the advantage of variety.
Pick any of these stellar SaaS product ideas and start building.