3 ms·
Not sure how much of this applies to you, but this is my advice for anyone trying to monetize a SaaS idea or product: 1. Reach out to people (beyond your frien
by Smudge 13y ago
Not sure how much of this applies to you, but this is my advice for anyone trying to monetize a SaaS idea or product:
1. Reach out to people (beyond your friends and family) to gauge interest in the idea. This probably involves networking, cold calls/emails, meetups, etc.
2. If there is any interest from anyone, ask them what specifically they'd need from the product in order for them to consider buying/subscribing.
3. Repeat until you have enough feedback to start understanding your market and their wants/needs. (Also, think about how you'd solve their problems in ways beyond what they simply tell you they need.)
4. If your market is split across different segments (and would require different sets of features) pick the group that seems most engaged and target them exclusively.
5. Once you feel that your product would work well enough for them (this might require one or two more rounds of feedback), throw together a pricing page and the underlying billing infrastructure, and start trying to make sales.
Note: You can always lower your prices, but it's harder to raise them, so start as high as you think could be remotely reasonable -- who knows, the price might still be worth it to your clients. If not, wait a bit and then lower the prices. (Perhaps you can use the new discount as a marketing tactic.)
6. Success? Cool. Think about how you can expand your market without succumbing to feature creep. Not success? Don't worry -- pick another market segment or do more rounds of feedback. It's up to you when to give up and move on, but just because it didn't work this time could mean plenty of things. (Maybe you need more focus on customer acquisition, or maybe you need to hire a designer). The point is, don't give up until you're really sure it won't work.