- Bootstrapped Growth
- Posts
- How to launch your SaaS in untapped markets 🌎
How to launch your SaaS in untapped markets 🌎
Go where you competitors aren't and launch your SaaS in under-served markets.
Sponsored by
💡 What are we talking about
Expand your product/service to open a whole new customer base. Expansion could be through creating solutions for markets lacking native options or to non-English speaking territories.
Here are some examples:
Russia’s Facebook “VK”
Russia’s Google “Yandex
South Korea’s Google “ Naver”
China’s Uber “DiDi”
Indonesia’s Uber “Gojek”
Japan’s Whatsapp “Line”
Let’s jump in!
With Bay Area Times, you will get graphics like these, so you quickly understand the news without having to read through long and boring paragraphs.
We explain the latest business, finance, and tech news with visuals and data.📊
All in one free newsletter that takes < 5 minutes to read. 🗞
Save time and become more informed today.👇
⭐️ Guide to Launching in Untapped Markets
Identifying opportunities to introduce existing SaaS brands into new markets, requires a strategic approach that blends market research, cultural understanding, and a keen sense of timing.
Conduct Thorough Market Research:
Identify Underserved Markets: Look for regions where the demand for specific SaaS solutions exists but is not currently met by local offerings.
Analyze Competitor Landscape: Study the presence of similar SaaS products in the target market. A lack of strong competitors can signal a ripe opportunity. Use a VPN and check search results for your main keywords in the local language. Speak to locals in your niche and see what they’re after. Determine the market size and interest.
Understand Local Regulations and Compliance: Certain markets have specific regulations that could affect the deployment of SaaS solutions.
Understand the Cultural Context:
Language and Localization: Beyond translation, understand the cultural nuances that might affect the product's acceptance. Localized products often outperform those that are merely translated.
User Behavior and Preferences: Investigate how the target market's user behaviour might differ from that in the product's original market. This could influence product features, marketing strategies, and sales approaches.
Leverage Local Insights:
Engage with Local Experts: Collaborate with local business experts or consultants who understand the market's nuances.
Participate in Local Events: Attend trade shows, conferences, and other industry events in the target market to gather insights and build networks.
Social Listening and Online Communities: Monitor social media channels and online forums specific to the target market to understand current trends, pain points, and potential gaps that your SaaS product could fill.
Evaluate Market Entry Strategies:
Partnerships and Alliances: Consider partnering with local businesses that have a solid market presence. This can help to navigate the local business landscape and accelerate market penetration.
Adapt Business Models: Be open to adapting your business model to suit local market conditions. This may involve changes to pricing, subscriptions, or even core features.
Test the Waters: Before a full launch, consider a pilot program or soft launch. Test your product’s reception in the new market. Use the feedback to make necessary adjustments.
💼 Examples
|
