In earlier times, the traditional software of every type was sold by a perpetual license. Then all of a sudden, each one of us noticed a shift to the per year/ month of pricing. Along with that, the freemium marketing strategies also took a hike. The freemium models offered software free of cost and enticed the business owners to give their product a shot and track down the profits and losses simultaneously. The strategy worked well as it aided many users to cross the threshold and then convert it to a paid subscriber.
Currently, this blog is here to give you an introduction between the relation between SaaS and Marketplace and the rise of the Hyperlocal based SaaS-enabled marketplace. We are not only here to provide you with an introduction to the hybrid model but will be stating why investing in it will be highly profitable. At the starting of the research and the concept of a SaaS-enabled marketplace, we have also encountered and analyzed the various startups in each vertical and industry. The main motive is to share an overview of this high margin landscape and make it more transparent.
As we are entirely aware, the SaaS is highly known to be a business model comprising hosting software and holds an availability of on-demand applications by subscribing on a monthly/ yearly basis.
Moving towards the marketplace, it is a standard business model where a platform connects the buyer and sellers and takes a transaction fee with a certain percentage. The marketplaces also leverage an advantage to generate more network effecting and strengthen it over a certain period of time.
Both of the models are a hoot on their own, but merging them into one will indeed create something remarkable.
The combination of SaaS and Marketplace brings out an extraordinarily compelling and disruptive business model: Software as a service Enabled Marketplace, aka SaaS Enabled Marketplace or SEM.
We are entirely aware of the features both the model offers single-handedly; let us now look at them by combining them.
Imagine you are looking to build a marketplace, and it is merely a startup. Opting with a SaaS-enabled marketplace will get connected with more than one or more parties and generate revenue with more significant profit margins. Combining the marketplace with the SaaS model will give out a standalone model offering more transactions than ever. The methodology over here can be stated as ” Access the tool and build your network,” this statement is the perfect option for both sides of the parties.
The SaaS-enabled marketplace is the best fit for each type – B2B, B2C, and C2C. The best part about this is that the SaaS segment is restricted to one side only; one can seamlessly enable it on the demand and supply side.
The SaaS-enabled marketplace acts as software, adding the plus points in one another. This combo also enhances the efficiency of the work on the marketplace and exchanges the concept of working with other tools to working with your tools. This benefits the client and the targeted audience, increasing more engagement on the platform itself.
The SaaS-enabled marketplace acts as an effective source for the marketplace and gives you a space to work without any restrictions. The model will make it sensible as it gives you many ways to monetize and scale the business for future use. Summarizing it up we can say that it helps to –
“Increase the productivity and the volume of your business with a SaaS-enabled marketplace. “
The SaaS model was already in the market, and its arrival is increasingly favored due to the steady rise in the subscription-based economy. Along with that, the model provides greater versatility and protection while reducing software expenses and time-to-market, which means that software companies and their clients are transitioning to the SaaS-enabled marketplace model to realize the numerous potential benefits it offers.
The market is well aware of the benefits of digital subscription offerings that offer convenience and save costs. This has led to an increase in the use of software services. Besides, customers are inclined towards choosing annual or monthly licensing fees that make procurement easy and entry attractive.
SaaS models have come as a breath of fresh air and have provided freedom from the tedious tasks of on-premise installation of the applications that consumed a lot of manual effort. Software applications are hosted in the cloud, which eliminates the need for local storage. Additionally, the cost of acquisition also sees a downward trend while offering more robust and secure data backups and recovery.
The SaaS model brings significant savings in the cost. Customers treat software investment as operating expenses rather than capital expenditures. The fact that most activity is driven by the data center, customers gain more horizons to launch and scale digital applications and enrich their digital transformation strategy.
On average, companies spend USD 2,884 per employee on SaaS. More industries are shifting their interests towards SaaS models and the market is expected to reach USD 157 billion in 2020 and is forecasted to gain USD 60 billion between the years 2019 and 2023.
As we have already listed to you what exactly the SaaS-enabled marketplace is and the profit margins coming along with them. We will be offering you a list of SaaS-enabled marketplace examples, making it easier for you to pick and launch your marketplace. Have a look –
Food Delivery (SaaS Enabled Marketplace)
If you are an owner or a startup, the software as a service-enabled marketplace model will fit the best. Get your hand on robust and high-performance technology powered with the advanced delivery business features that have transformed into a vast segment of the industry. Due to which it is essential to strategize and recognize the growth of your delivery business. One can easily avail a single restaurant solution and Aggregator app solution to supercharge and speed the business generating ROI more than three times. Make a good impression on your potential leads and get more conversions.
Grocery Delivery (SaaS Enabled Marketplace)
With such substantial profitable numbers, it is easy to guess that the competition has also been on the verge in the grocery industry. By taking care of the six feet rule, users are dependent on the grocery delivery app. Efficiently maximize product availability while speeding up service and minimizing carrying costs. No matter if you are a small convenience store or a supermarket chain. It is one of the best examples of a SaaS-enabled marketplace.
Flower Delivery (SaaS Enabled Marketplace)
Like other verticals, even the floral industry has picked up the pace, and surprisingly even in the age of tech, many of us are in love with fresh flowers. The competition in this industry is a bit low; going in with the software as a service delivery model will make a win-win deal. We understand that the elegance and beauty of flowers are always trendy, and others could not replace its prerequisites. Leveraging the same, our flower app delivery services work with extensive features and module support, ensuring your business success.
Medicine Delivery (SaaS Enabled Marketplace)
Pharmacy owners couldn’t resist using their traditional brick-and-mortar stores to sell their products until they encountered the virulent coronavirus. Now is the time to expand your pharmacy’s reach and provide your customers with a simple way to order medicines without having to leave the house. One can go with this vertical and give unprecedented traction to the medicine industry.
Pizza Delivery (SaaS Enabled Marketplace)
Delivering pizza has been the only industry that has not encountered any losses due to COVID -19 pandemic. It might be vertical with tough competition but offers more significant ROI, unlike other models. Get a comprehensive saas-based pizza delivery app in-built with an innovative admin dashboard. With the attractive admin panel, you can keep track of everything and excel with every bit of information at your hand. It is not only cost-effective but allows you to analyze the progress of your pizza delivery business.
Fuel Delivery (SaaS Enabled Marketplace)
Running a fuel delivery business is difficult, but a SaaS-enabled marketplace app development company can help you save time in your search for a dependable fuel delivery solution. With the help of our all-in-one fuel delivery service app solutions, you can boost your productivity and sales.
Meat Delivery (SaaS Enabled Marketplace)
Representing a SaaS-enabled marketplace would be the best to enhance your brand visibility. SaaS-enabled marketplace solutions make it possible and straightforward to meet the needs of specific meat delivery business app models. Along with that, keep track of all types of orders, including in-process, past, and delivered orders, as well as a quick view of active and inactive clients.
Liquor Delivery (SaaS Enabled Marketplace)
Serve habitual drinkers faster by transforming your Liquor outlet or bar into a well-intuitive liquor delivery app via a SaaS-enabled marketplace solution. No matter which business model your business acquires, we can design a custom liquor ordering and delivery app for any model according to business requirements and needs. Feel free to opt for an online beverage marketplace, big chain liquor stores, or go with the single booze delivery store.
If this blog has got you excited enough about the SaaS-enabled marketplace solution, then feel free to reach out to us. Jumpstart your business for a more extensive audience base with our monthly subscription model at affordable pricing.