Hi there fastlaners,
I spent one year building my own AI powered accounting software (Nummo) -- more details on the process in this thread.
I launched 4 days ago and so far I got these results from organic traffic on Google and some Reddit engagement:
- 348 visits on my landing page
- 419 views
- 0 free trials started
The feedback I've received so far:
- Pricing is steep
- Questions about features that are obvious to me e.g., how to book an invoice, where's the chart of accounts.
Overall I think people don't get the product, so I suspect there's something wrong with my messaging.
While searching for specific keywords on Reddit, I read some posts of people looking for 'bookkeeping' software, without invoicing or payment processing. To me accounting isn't invoicing, inventory tracking, or payment processing, but mostly bookkeeping. So 'accounting' and 'bookkeeping' seemed equivalent, except that 'bookkeeping' sounds more technical. Calling Nummo 'accounting software' seemed more user-friendly than 'bookkeeping'. However, I'm starting to think that people expect invoicing, inventory tracking, payment processing from accounting software and even separate expense tracking module, which I don't understand -- doesn't bookkeeping track expenses already?
Nummo is a minimal ledger that syncs with your bank accounts and autocategorizes transactions with AI, but it doesn't offer:
- Invoicing
- Inventory tracking
- Payment processing
- A dedicated expense tracking module
So perhaps calling it 'accounting software' is wrong. Perhaps I should use the keyword 'ledger', or 'bookkeeping' instead -- and adjust the pricing accordingly.
I thought about these new tiers:
Free:
- No bank connections
- 50 categorization credits (you upload a CSV file and categorizes automatically up to 50 txs).
- No guaranteed support
Premium $19/mo, $190/yr:
- 2 bank connections
- 1,500 categorization credits
- Priority support.
My cost per user is minimal, so the unit economics would be viable. I'm not sure if this is the right strategic move though. Would love your input on these two questions:
1. What are your thoughts on my current positioning and the new one I suggest?
2. What do you think of my current pricing and the proposed pricing?
Here's the link to my landing page:
Nummo
Thanks a lot in advance!
I spent one year building my own AI powered accounting software (Nummo) -- more details on the process in this thread.
I launched 4 days ago and so far I got these results from organic traffic on Google and some Reddit engagement:
- 348 visits on my landing page
- 419 views
- 0 free trials started
The feedback I've received so far:
- Pricing is steep
- Questions about features that are obvious to me e.g., how to book an invoice, where's the chart of accounts.
Overall I think people don't get the product, so I suspect there's something wrong with my messaging.
While searching for specific keywords on Reddit, I read some posts of people looking for 'bookkeeping' software, without invoicing or payment processing. To me accounting isn't invoicing, inventory tracking, or payment processing, but mostly bookkeeping. So 'accounting' and 'bookkeeping' seemed equivalent, except that 'bookkeeping' sounds more technical. Calling Nummo 'accounting software' seemed more user-friendly than 'bookkeeping'. However, I'm starting to think that people expect invoicing, inventory tracking, payment processing from accounting software and even separate expense tracking module, which I don't understand -- doesn't bookkeeping track expenses already?
Nummo is a minimal ledger that syncs with your bank accounts and autocategorizes transactions with AI, but it doesn't offer:
- Invoicing
- Inventory tracking
- Payment processing
- A dedicated expense tracking module
So perhaps calling it 'accounting software' is wrong. Perhaps I should use the keyword 'ledger', or 'bookkeeping' instead -- and adjust the pricing accordingly.
I thought about these new tiers:
Free:
- No bank connections
- 50 categorization credits (you upload a CSV file and categorizes automatically up to 50 txs).
- No guaranteed support
Premium $19/mo, $190/yr:
- 2 bank connections
- 1,500 categorization credits
- Priority support.
My cost per user is minimal, so the unit economics would be viable. I'm not sure if this is the right strategic move though. Would love your input on these two questions:
1. What are your thoughts on my current positioning and the new one I suggest?
2. What do you think of my current pricing and the proposed pricing?
Here's the link to my landing page:
Nummo
Thanks a lot in advance!
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