In a recent study, MuleSoft partnered with THINKstrategies to quantify the impact integration has had on SaaS providers ability to acquire and support new customers in a growing competitive cloud landscape. View an infographic of the key findings or download the report.
For those Executives that would like to investigate if connecting to a third party application could help them grow their business, we’ve outlined a 3 step process to help quantify the opportunity.
In our experience working with SaaS companies, we’ve found that cloud integration surfaces in the majority of sales cycles as a question, “Do you connect to my [insert third party application or service here]”. Identify and quantify customer requirements to understand the scope of resources that will be needed to address your customer demands.
- What applications are your customers most frequently asking for connectivity to?
- What are the business processes your customers are trying to automate using your application?
- Are you seeing patterns across customer requests? If yes, this could be an extension of your application that you could monetize?
2. Outline The Market Opportunity
Developing an ecosystem or providing integration as part of your service could significantly impact your Monthly Recurring Revenue (MRR), Customer Acquisition Cost (CAC), in addition to other SaaS growth metrics. Understanding the size of the market you can connect to will help you identify top areas for investment.
- What markets do you want to gain entry to?
- Do customers in those markets require connectivity to a particular application or type of application?
- If you were to provide integration as an option to the customer in those markets, what could you charge? How many customers would you expect to acquire?
3. Engage With an Integration Expert
You can create connectivity to your application by either developing the integrations in house, or engaging with a vendor or service provider. Depending upon the complexity of the third party application, and the resources you have available internally, one approach may align more to your Go-to-Market strategy over another.
- Simplify internal development and expedite post sale implementations using an integration platform as a service (iPaaS) (Disclaimer: We’re a little biased)
- Drive new business with packaged, repeatable integration offerings developed by a SaaS integration provider
- Grow your ecosystem by referring custom projects to System Integrators with expertise in the third party application.
MuleSoft = SaaS Integration
If you are ready to engage with an integration expert, MuleSoft is here to help. We are powering integrations for leading SaaS companies such as Salesforce.com, Zuora, MetraTech, Vindicia, BunchBall, Avalara, PeopleMatter and many more.
If you are a SaaS provider with an internal team that is currently developing integrations for customers, you can expedite your time to live using CloudHub, our integration platform as a service. Learn more about CloudHub and sign up today for free.
For those SaaS providers that do not have the resources in house and need to dedicate their team to managing their core application, we have a dedicated partner program for SaaS companies like yourself. By Partnering with MuleSoft you can sell integration as a part of your service, growing your addressable market while reducing objections in your sales cycle and accelerating your time to live. Learn more about MuleSoft’s SaaS partner program or contact us to discuss your integration needs today.