How to Prioritize your SaaS Product Features
At a Glance
A SaaS product needs to have all the desired features to gain the customers’ necessary traction. There are various techniques to collect the users’ necessary feedback and incorporate it to improve the user experience. The only way to ensure satisfied customers for your SaaS products is to incorporate your offerings’ best features.
The best way to make new customers is to make your current customers happy and excited about your products.Mikkel Sivne, Co-founder, Zendesk
“I need this feature up immediately, No questions asked!” This instruction comes booming across the team and as an engineer, this is not something you want to hear! There are so many other product features that take precedence over this in your mind. One of the most important things about a SaaS product suite is to constantly lay down a prioritization framework to plan your product features. You must ensure that your SaaS product features meet your target audience’s expectations, but this is not one day’s job. To achieve this target, you must ensure a constant supply of methodologies and tips that aid your data collection process and help you become more aware of your customers’ needs. Many companies tend to forget this and suffer tremendous losses because of customer dissatisfaction. To eliminate the chances of such an event, it is necessary to plan your SaaS product features well in advance and properly.
The Various Methodologies to Prioritize Your SaaS Product Features
SaaS products’ popularity is constantly rising due to the various benefits on offer but creating viable SaaS products is an exceedingly difficult task. This is because you must constantly look at the product features and draw a prioritization framework to determine which features are the most important. SaaS product managers often face a lot of challenges when they create and manage SaaS product features. To help you out with this process, here are some of the most popular methodologies which you can opt for: –
Never forget to ask yourself questions. Think about why are you developing the SaaS product at all? What are your key requirements for the product? Do you think you can implement what you are going for? And the very important question, if everything is feasible and useful at all? By questioning yourself constantly, you will be able to focus on the important features and will be able to execute the plan properly. Without asking relevant questions, you will not understand the entire whereabouts of the project and might end up making decisions that you might regret later on.
Note down important points.
Draw graphs or use some other techniques to ensure that you know all the features you must focus on. More than anything, it is important to note down the key features in the order of their importance. In this manner, you will know exactly where your priorities are and would be able to act accordingly. The only important things are customer satisfaction and revenue growth. Add it all up, and you will figure out which features are more important. Also, ensure that you know the costs spent on the development of each product feature. Make sure to keep it in mind while evaluating all the SaaS product features.
Use the Kano Model
Many models have been laid out to help SaaS developers find out how to create a good SaaS product suite that helps its consumers in every way while also generating profits. Kano model is one of them, and it features a two-dimensional grid with user satisfaction on the vertical axis and the investment in the development on the horizontal one. Ensure to now overuse your resources while also ensuring that customer satisfaction is not left behind. By reaching the ideal balance between the two aspects, you will be able to prioritize the features correctly.
Use Reverse Engineering
Another incredibly famous method used for such issues is reverse engineering. Using this process, you have to work your things out in the reverse direction. Therefore, you focus on the product and think of it as an end-user. You then have to critique your product accurately to ensure that you find out which features you must focus on to improve the user experience. In this manner, you can certainly deliver a well-engineered product.
Use the KJ method
Another method used to plan your SaaS product features is the KJ method. Using this method, you take each task individually and perfect it. You must think about every module in your product and then ascertain the credibility and benefit. This method is recommended for product development teams so that views of different members can be incorporated into the product to deliver features that perfectly meet the customer requirements.
There are many ways to create a SaaS product suite that does not fail its consumers. But it is important to note that you cannot use all of them at once. Every method has its usage style and applicability based on the project that you are handling. However, a few tips might always come in handy.
Get your information.
The first and foremost priority for you should be to get your information right. If you are spending a lot of time thinking, it is advisable to just ask your users what they want and expect. You can conduct surveys or use existing research available in the market. Additionally, ensure that you store all the relevant information together to deal with it comprehensively.
Stick to your roles.
Use a team and ensure that you divide their roles perfectly. The higher management should not be dealing with the surveys or the feedback because that data will be huge and time-consuming. However, relevant teams should be given access to that data, and they should be allowed to draw inferences from it, which can be shared with the top management later. This will save time and make your work even more efficient.
Use feedback, but carefully.
Note that you might have many consumers, and they might have a lot of demands, but you cannot service all of them. So, ensure that you deal with the data you collect correctly and do not focus your energy entirely on the factors that might not be of much use or might require many resources. You must use the feedback but have to be very careful with what you interpret from it.
Getting the SaaS product features right at the first time is virtually impossible. It is only through continuous incorporation of user feedback that you will be able to perfect your offerings. So, invest adequate time and resources in setting up a robust feedback mechanism in place and engage actively with various sets of users.