• 26.09.24

5 reasons white label software belongs in SaaS growth strategies

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The SaaS market reached $261.15 billion in 2022 and is predicted       to grow to $819.23 billion by 2030. As such, in 2024, SaaS companies are encountering increasing challenges as they navigate an intensely competitive and ever-changing market landscape.

Increased pressure on profitability, customer churn, product differentiation, scaling infrastructure and reduced risk are top issues companies are having to contend with.

For those SaaS companies serving small businesses, white label software has the ability to address these challenges with significant and rapid benefits as part of their growth strategies. Here we break down five reasons why.

1. A market-ready product with competitive margins

As competition increases, rising customer acquisition costs (CAC) and operational costs are very real contributors to profitability pressure for SaaS companies. Not only the cost of acquiring new customers in a saturated market, but the cost of building and evolving software whilst maintaining high margins is increasingly tricky.

Using white label software is often more cost-effective than building solutions from scratch. It reduces development costs and risks associated with creating new software, allowing companies to allocate resources more efficiently.

With a white label product you still have full control over customer billing and price setting, so you can stay competitive in your market and own the whole customer experience. Starting from a competitive RRP, BaseKit can help you develop a bespoke pricing model that’s attractive to your customers – yet still gives you the margin you need.

2. Continuous innovation for reduced churn

As technology evolves, so must your product offering. Customers are increasingly demanding with high levels of expectation and if not addressed, leads to increased churn with a direct impact on recurring revenue models.

Rapid technological advancements such as the necessary adoption of AI, has also brought operational challenges to SaaS companies, such as technical complexities of embedding sophisticated algorithms and lack of AI proficient professionals.

Leveraging white label solutions with an expert in your target market, allows you to sell a continuously competitive product that you know is evolving to meet the direct needs of your customers with the necessary technical expertise to match.

At BaseKit we release new features on our Platform every two weeks. We have been refining our platform with the small business customer in mind, for the past 16 years. We take care of all product design and development ensuring our software is continually evolving to meet the needs of small businesses.

After extensive research, we’ve rolled out AI across our platform with more features to come as part of our onboarding and design excellence commitment in our 2024 product roadmap.

This leaves our partners to keep their customers happy and more likely to stick to an uncomplex product they love.

3. Swift product differentiation for market demand

SaaS companies need innovative strategies to stand out and attract customers. White label solutions can help to supercharge their offerings by quickly introducing new features of services that may not be available from competitors.

This enables them to react fast to close gaps in their product portfolio and differentiate their offerings through customisation to stay ahead of market trends and enter new markets rapidly.

White label products can also be fully branded to seamlessly fit with a company’s identity, creating brand continuity and consistency for customers across platforms.

4. Global expansion and localisation

Delivering scalable, robust, secure applications that can serve a global audience and handle increasing customer demand, while ensuring performance, security, and uptime can be complex and costly.

BaseKit’s white label technology, available in 22 languages, is proven at scale and used by some of the biggest global names in the industry.

The self contained instance of BaseKit ensures that every website built with our software automatically has the full resources of the platform available to it. It also ensures that all of our hosted websites automatically operate using the latest version of BaseKit, including the underlying hosting technologies and security updates.

The BaseKit Platform also maintains high availability (99.999 uptime) and performance for our partners and their customers.

This means our 30 instances of BaseKit around the world can handle hosting hundreds of thousands of complex, busy and dynamic websites with e-commerce stores to sell unlimited goods, and/or bookings and payments functionality to sell unlimited services.

5. Reduced risk

White label software is market-ready with a strong track record of market success. It has already been developed, tested and proven among particular audiences, which significantly reduces development risks such as bugs, delays, or project failures. It also often provides access to established security and compliance measures, reducing the burden on a SaaS company to meet these requirements themselves.

White label software is also designed to scale with customer demand, which allows SaaS companies to use it to scale their offerings without the risk and cost of developing custom, scalable infrastructure.

By utilising white label software, SaaS companies can enhance their agility, expand their product portfolio, and focus on growth and innovation while leveraging the expertise and infrastructure of established providers.

 

Try BaseKit for yourself

Contact us to experience our software for yourself and discuss what a white label partnership could look like for your business.

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