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Just introduced paid plans in my SaaS and got the first paying customer

As per the title, Today I just introduced a couple of paid options for my Saas and I just recorded the first payment, for a yearly Pro plan ($150). The tool is in the niche of Decentralized Finance (DeFi) and allows users to calculate their returns when investing in Uniswap, a (super-interesting) protocol which is getting pretty popular within the Ethereum community. I launched it as a totally free product in June, got some initial traction, and now trying to find a model to make it sustainable and develop it further. DeFi is still very small, but with high growth potential I believe. I’ve created so far 3 plans: Basic (free), Pro (1 ETH/year, about $150) and Large Investors (5ETH/year, about $750). They differ in terms of features as well as for the number of analysis allowed. Wanted to share this with you. Any consideration/ pitfall to avoid when moving from free to paid? https://www.uniswaproi.com/

matt_the_bass 7y ago
Congrats on your fist paying customer! Good luck.
- federiconitidi 7y ago
  Thanks!!
textread 7y ago
Congratulations, would you mind sharing how many free users you had before you decided to make this transition?
- federiconitidi 7y ago
  It's hard to say since the tool was not only free, but didn't even require signing up (see for example comproi.com, its sister-site which is still free and no-sign-up). My estimate is about 200 free users, but could be off. We'll see how many they actually sign up now (so far about 50)
  - matt_the_bass 7y ago
    Wow! In 1 day you converted about $7500/year of customers. That’s impressive. This implies you’re already at MVP! How long did it take you get those ~200 free plan users? If you can repeat that every month, you’re already in “real, viable company/job” land. Perhaps you should consider spending at least a portion of your time on market rather than tech dev now.
eb0la 7y ago
Congratulations ! You've hit the market validation milestone. That's not easy. I believe your project success is tighly coupled to DeFi success (as a platform). In order to succeed you should help spread DeFi - make yourself and your product an authority on the subject - and prepare material easy to digest and understand. First of all, you should know your customer. Why paid, what benefit/outcome gets from your service. With this information, you should be able 'lower the barrier of entry' for other users.
- federiconitidi 7y ago
  Totally agree, thanks for your insights!

matt_the_bass 7y ago

Congrats on your fist paying customer! Good luck.

federiconitidi 7y ago
Thanks!!

textread 7y ago

Congratulations, would you mind sharing how many free users you had before you decided to make this transition?

federiconitidi 7y ago
It's hard to say since the tool was not only free, but didn't even require signing up (see for example comproi.com, its sister-site which is still free and no-sign-up). My estimate is about 200 free users, but could be off. We'll see how many they actually sign up now (so far about 50)
- matt_the_bass 7y ago
  Wow! In 1 day you converted about $7500/year of customers. That’s impressive. This implies you’re already at MVP! How long did it take you get those ~200 free plan users? If you can repeat that every month, you’re already in “real, viable company/job” land. Perhaps you should consider spending at least a portion of your time on market rather than tech dev now.

eb0la 7y ago

Congratulations ! You've hit the market validation milestone. That's not easy. I believe your project success is tighly coupled to DeFi success (as a platform). In order to succeed you should help spread DeFi - make yourself and your product an authority on the subject - and prepare material easy to digest and understand. First of all, you should know your customer. Why paid, what benefit/outcome gets from your service. With this information, you should be able 'lower the barrier of entry' for other users.

federiconitidi 7y ago
Totally agree, thanks for your insights!