The process of building a SaaS application can be divided into 6 key stages:

1. Market analysis - evaluate your idea and its potential compared to existing solutions on the market and think about its features and integrations.
2. Discussing requirements - a clear plan is key. In a SaaS model, it is crucial to ensure maximum security as it is the foundation of a good solution.
3. Defining the MVP - building a Minimum Viable Product means creating a product with core features that can be tested by its early users and later be developed into the final product.
4. Choosing the pricing model - there are different pricing models for SaaS solutions that can greatly influence your product’s popularity. The pricing model should be adjusted to your target users’ needs.
5. Deciding on technical aspects - This is the point where you need to determine how to build your software and which tools to use. You should talk to professionals who will help you define your needs.
6. Finding or creating a development team - you can choose to create an in-house team or outsource the development fully or partially. Outsourcing to a fully-fledged team will give you lots of advantages and will allow you to focus on business processes like marketing.

The creation of a SaaS app is a difficult task. You may encounter some difficulties along the road like:

1. Inadequate Execution - When a project fails, people frequently blame the idea when in reality, the execution was poor. A proper SWOT analysis ensures your idea is effectively executed.
2. Lack of Trust - Proper security of your solution is key to gaining users’ trust.
3. Small Audience - It is crucial that your idea is continually optimized and updated to remain relevant.

By working with an experienced software development company, you can avoid those mistakes. Specialists at Selleo will ensure your product stays up to date and meets the latest security standards.

There are a lot of metrics that can provide you with crucial information about the state of your product. Using tools like Google Analytics or Hotjar is helpful sometimes may not be enough.

Many SaaS businesses focus on KPIs - Key Performance Indicators like:

1. Monthly or annual revenue
2. CAC (cost of acquiring a customer)
3. LTV (customer lifetime value) - revenue generated by a customer over the lifetime of their subscription
4. NPS (net promoter score) - the value customers gain from the product
5. Customer churn - the percentage of customers unsubscribing