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Three Mistakes to Avoid in Your SaaS Platform Content

Three Mistakes To Avoid In Your Saas Platform Content 01 (1)

If your company offers payment processing services, it’s no secret that the market is unlocking its potential through SaaS platform partnerships. The benefits to all parties are clear: smooth payment experiences for SaaS platform customers, a new revenue stream for SaaS platforms, and a one-to-many access point for payment service providers. With an estimated 300,000 SaaS platforms globally, there’s lots of room for opportunity and a lot of content to be made. 

Although SaaS platforms have become one of the fastest-growing channels in payment processing, the characteristics that make them valuable partners can also make them difficult to sign and retain. For example, it’s common for SaaS platforms to work with multiple payment service providers or let their customers bring their own. One of our studies found that almost 80% of SaaS platforms have multiple payment service providers. The number of choices SaaS platforms have means there’s little incentive for them to settle for the first option that comes to their door. They also have little reason to stay with a partner they’re dissatisfied with.

If you create content for SaaS platforms, it’s crucial to understand possible pitfalls. Here are three mistakes to avoid. 

1. Your content doesn’t cover customer experience (if it’s good) 

We often survey SaaS platforms to understand their payment-related experiences and partnership dynamics. One of our studies found that SaaS platforms care most about their experiences when selecting a preferred payment service provider. Experience ranked higher than reviews, pricing, and superior products. Poor customer experiences prompted 30% of SaaS platforms to leave their provider.

The most important payment service provider experiences noted were the ease of implementation, the quality of account management, and general positive interactions. 

Payment service providers with simple integration interfaces and helpful documentation make it easier for their SaaS partners to start processing payments. We see SaaS platforms moving towards providers that have invested in this area. This may point to the importance of having a ‘like-mindedness’ with tech-smart SaaS platforms. They often provide seamless technology-driven experiences to their own customers. Our research shows that SaaS platforms are often dissatisfied with their payment service provider if they perceive them as lacking innovation. 

Here’s a small example that ties in experience and innovation. We found that 91% of SaaS platforms with an embedded banking solution said it was very or extremely important to their business. Do you offer embedded banking services that your SaaS platforms rave is super easy to implement? Highlight that in your content. 

Experience should be a strategic priority. Assuming it is, at least some of your content should highlight fact-based ways you offer a good customer experience for SaaS platforms.

2. Your message isn’t vertically focused 

You’re likely aware that each SaaS platform’s vertical doesn’t yield an equal return. Our big data platform, AIM, dynamically ranks verticals based on criteria like profitability, attrition, and chargebacks. This has shown that performance can vary widely by vertical

If your business has a vertically focused partner strategy, it should come with a vertically focused content strategy, for at least some pieces. Each vertical has unique language and pain points. One of our surveys found that SaaS platforms try to verify potential payment service providers serve their vertical. Make sure they don’t have to look too hard. 

This is especially important when noting products and features. Vertical needs vary for payment methods, point-of-sale tools (e.g., softPOS), reporting, etc. 

Our research has also shown that the types of content formats SaaS platforms want vary by vertical. SaaS platforms serving restaurants want curated resource lists and like to read things online, while those serving retailers prefer accessing panel discussions that involve other SaaS platforms. 

3. Communications across your organization don’t align 

Here are two quotes from the SaaS community on payment processing content: 

“[Educational resources would be helpful] if they aren’t sponsored and moderated by a processing provider. We need open and honest information, not sales pitches”. 

“We had many conversations in which processors agreed to meet our request, then the proposal was far short of our agreement and was full of “gotchas.” I could not find honest and unbiased resources…It took too long, 21 months!” 

Ensure alignment between messages from your sales representatives, proposal creators, and other content creators. Content should be factual and include meaningful statistics, case studies, and/or relevant policies.  

A great approach is to survey your audience on their needs and trends and provide these peer insights in a content piece. Then, credibly show how you cover those needs and trends.

Also, ensure alignment with SaaS platform format preferences. Our research shows that SaaS platforms prefer learning about payments through whitepapers and webinars. This preference applies in any situation where a vertical focus isn’t used.

The bottom line 

Internal and external research can go a long way in creating content that resonates. With the continued growth of integrated payments, you have many opportunities to bolster your business. Doing this with meaningful content for SaaS platforms that avoids these pitfalls. 

We can help. Following our mission to bring clarity to the complex, we created BrandInfluence. We can elevate your brand with original, data-backed content built to create awareness, inform, and generate leads. See how with BrandInfluence. 

Related: What is BrandInfluence? (Video) | Five Content Pieces on Payments We Enjoy