SaaS businesses are all the rage! Even companies that have success with traditional products are re-thinking their business as a SaaS offering, to reap the many benefits:

• Valuation. Even if all you sell is basically the same product to the same customers, but on a "SaaS" model, that can be enough to attract new investors and increase your valuation by an order of magnitude.
• Recurring revenue. SaaS implies a subscription model, which lends itself to more recurring revenue, or at least more predictable recurring revenue.
• Additional revenue streams. SaaS businesses can collect and monetize anonymized customer data, including patterns of customer behaviour. They can serve ads to different customer segments, or upsell partnering products.
• Product stickiness. Customer behaviour data can be analyzed to quickly assess how to make the product more sticky. Feature "experiments" can be run on different customer segments.
• Reduced operational costs. Cloud technology can theoretically allow for a zero IT footprint on the client site, reducing deployment and support costs. And because SaaS is also usually "self-service" ie. purchased and upgraded directly online, it can reduce sales overhead as well.
• Access to new markets, such as SME and mid-market customers that increasingly buy only SaaS.

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These benefits are so attractive that every and any product and business model is being re-imagined as SaaS, leading to some great ideas (e.g. Spotify, Coursera, bacon-of-the-month dropped off at your doorstep!). But not every business lends itself intuitively to a SaaS model. Especially if you have years of legacy technology and processes established with an existing customer base, the transition won't happen overnight. There are key questions to answer in each facet of the business.

Tired of generic 2021 predictions about remote work, cloud, and data? Here are 10 specific trends to consider in your growth strategy: