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Collaboration has become the secret sauce to success for products like Figma, Google Docs, and Notion. These B2B SaaS companies have revolutionized the way teams work together by incorporating built-in collaborative features into their products. And other B2B SaaS companies can do the same. In this article, we will explore the benefits of collaboration for end-users, discuss the ROI of adding collaborative features to your product, and delve into the decision of buying vs. building a collaborative tool.
What is Collaboration?
Collaboration is the action of working with someone to produce something. In the context of work and software, collaboration can take many forms. It can involve designers and developers working together to create a website, sales leaders and executives setting revenue targets, or customer success managers and engineers helping clients with new features. Collaboration is no longer limited to just people; it can also involve AI chatbots, marketing leads, and junior marketers brainstorming ideas.
The shift to software and the cloud has drastically changed the way we think about collaboration. Email, while an improvement over traditional forms of communication, is not an efficient way to collaborate. The introduction of tools like Dropbox made it easier to share and store documents, but true collaboration was still lacking. However, with the advent of tools like Google Docs, Figma, and Notion, collaboration has become an integral part of productivity. These tools allow teams to give feedback, ask questions, troubleshoot issues, brainstorm, and give approval without leaving the application. Collaboration is now seamlessly integrated into the workflow.
Benefits of Collaboration for End-Users
Collaborative features in a product can greatly benefit end-users. Without these features, users often have to switch between different tools and platforms to collaborate, leading to loss of focus and productivity. By incorporating collaboration directly into the product, users can stay in-context and in the zone, resulting in shorter feedback loops and improved co-creation. Additionally, when collaboration happens within the product, the conversation has a home, making it easier to track decisions and refer back to them in the future.
Use Cases for Collaboration
Collaboration can be beneficial in various scenarios. For example, in the field of MarTech, a content manager using an email marketing platform can benefit from collaboration by inviting team members to review, edit, and approve emails directly within the platform. Designers can be @mentioned for asset requests, the head of marketing can provide feedback and brainstorm subject lines, and operations executives can QA the email in real-time. At the end of each month, reports can be annotated to highlight successful emails, and customer success managers can be alerted of customer engagement. Collaboration can streamline communication and improve productivity in a variety of roles and industries.
Measuring the ROI of Collaboration
Collaboration offers significant ROI for businesses. It can be a unique selling point that attracts and delights customers, leading to increased customer acquisition. Collaborative features also drive seat expansion, as more team members are encouraged to use the product when collaboration is seamless. Additionally, collaboration improves customer retention by making the product indispensable and central to the user’s workflow. By improving product stickiness and exposing more people to the value of the product, collaboration contributes to long-term customer satisfaction and loyalty.
Buying vs. Building Collaboration
When considering adding collaborative features to a product, the decision of buying vs. building a collaborative tool arises. Building collaborative software from scratch requires allocating resources and putting other features on hold. It involves a team of designers, frontend and backend engineers, operations engineers, and product managers. The process can take 6-12 months of intense work, starting with prototyping and moving on to solving various technical challenges.
Alternatively, buying a collaborative SDK like Cord can offer a quicker and more efficient solution. Cord provides sophisticated chat features out-of-the-box, including screenshots, notifications, annotations, and file uploads. Implementation is easy, and customization options allow the product to match the brand’s look and feel. Cord’s expertise in collaboration ensures that the features are top-notch, saving time and resources for the product team.
Conclusion
Collaboration is the key to success for many B2B SaaS companies. By adding collaborative features to their products, these companies have transformed the way teams work together, improving productivity, and driving customer acquisition and retention. Collaborative features benefit end-users by reducing context switching and allowing for seamless communication and co-creation. The ROI of collaboration is significant, making it a worthwhile investment for businesses. When deciding to add collaborative features, the choice between buying and building should be carefully considered, weighing the trade-offs and resources required. Tools like Cord offer a convenient and efficient solution for incorporating collaboration into a product. With the right collaborative features, your product can thrive and empower teams to achieve their goals.
