To grow your software business, you must create a plan for developing new products that meet market requirements. You do not need to create completely new products. Upgrading existing products, creating modified versions of existing products for different markets or offering customers new ways of acquiring software can help you grow your business.
Plan a series of upgrades to your software products. Each upgrade version should incorporate new features and options that represent added value for your customers. Remote workforce management software create a schedule for releasing upgrade versions that mirrors your product development plans. Prioritize features that represent customers’ top requirements. Offer upgrade versions to existing users at a special price.
Plan modified versions of your software for different market sectors. Vertical market versions include features that meet the specific needs of sectors such as manufacturing, financial services, healthcare or aerospace. You can also plan versions of your software to meet the needs of international markets. Localizing the software may require modification to language, currency, terminology and product features to reflect local market requirements.
Research opportunities for offering customers customized versions of your software. Customized software includes features specific to individual customers that help them improve particular aspects of their business. Customized software will help you command higher prices and strengthen your position against competitors who only offer standard software that may not meet customers’ individual needs.
Identify opportunities for creating product versions at a range of prices to meet the needs of different types of customer. The full version of a product includes all features and will sell at the highest price. You can create lower-priced versions for home use that include fewer features. To attract new customers, you can offer trial versions that include limited features. Offer trial version users the option of purchasing the full version at a discounted price.
Plan different distribution methods for your software to improve customer convenience. Boxed software is essential if you plan to sell your products through retail outlets. If you sell direct to customers, you can offer the option of downloading software from your website. The development of software as a service — SaaS — provides a further distribution option. With SaaS, customers do not purchase the software. Instead, they access it from a centrally hosted site and acquire it on a pay-as-you-go basis, paying a monthly or annual fee based on usage.