Market Research Audit for SaaS Sales Tool — A Case Study

Problem Statement

Build a go-to-market strategy for a SaaS Email tool by doing its comprehensive Market Research, Client Profiling and Building a Market strategy. So I came up with a brand name called : SalesSpace

Introduction to SalesSpace

SalesSpace is a time-saving sales automation software for every stage of the funnel. Automate your way through the sales process and close more deals faster.

Market Research

Overview of Market

  • Segment : Sales Automation
  • Every Business, Personal needs Outreach
  • United States is definitely the dominant force in the sales force automation market.
  • European Union is close behind, and Japan, China and India along with Southeast Asia are all key regional players in the sales force automation marketplace.
  • Biggest player among market segments is the healthcare industry. Retail and telecom comes after.
  • United States and Canada are the leaders in sales force automation software.
  • China, India and Japan are all poised to make a significant impact on the global sales automation software market in the coming years.

Size of Market

$3.8 Million in 2016

$7.7 Million by 2023

Market Segmentation — By Application

  • Lead Management
  • Sales Forecasting
  • Order & Invoice Management
  • Opportunity Management

Competitors

  • Reply.io
  • Outreach
  • Salesloft
  • Sendbloom
  • Yeswave
  • Hubspot
  • Close
  • PersistIQ
  • Conversica
  • Autoklose
  • Saleshandy
  • Mailshake

Minimum Requirements to fit into Market

  • Necessary features of all sales email automation tools should be available.
  • A New Mechanism is required to be presented to clients.
  • Product should be easier, quicker and overcome current limitations giving extra benefits.
  • Ease of access should be the priority.
  • Contact Segmentation and Tagging should be available (Most Lack this)
  • Product should have all CRM Integrations
  • Reporting should be as precise and Beautiful
  • Strategy Comprises of Features, Advantages and How it can help the client.
  • UI must be great and user flow must be easy for a sales tool.
  • Feature of Email Design + Templates should be Available.
  • Integrations + Reports differentiates the game in sales automation.

Conclusion Market Research

  • A lot of promises have already been made, a lot of unique mechanisms have already been quoted!
  • Number of competitors are high.
  • All numbers and insights portray the level of competition
  • So let’s launch SalesSpace with Promise and a Unique Mechanism

Now working on Client Profiling and user persona for this SaaS tool.

Comment your thoughts below.

Fin.

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About the Author

I am a 20-year-old 💻Engineer who turned into a 📱Product Enthusiast. I love to talk about Marketing, Design & Products.
Connect with me: abhinavthisside@gmail.com/
LinkedIn/Instagram

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Abhinav Gupta

Abhinav Gupta

Designer in Residence @10kdesigners