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Progress Thread SAAS Product Creation - Successes and Failures

Discussion in 'Progress/Execution Threads' started by Martinv678, Jun 27, 2017.

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  1. Martinv678
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    Martinv678 Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    It's been a long time since i've posted here. I've been away coding away. We have made some massive mistakes creating the product, and now we're finally in a good place to move forward.

    Our biggest mistake... Find your customers first, code second. I had heard this a few times but we were arrogant enough to think we had a game changer. But in theory we still don't know. We've taken a bit of a back foot with development and are now going to push to get customers and mainly feedback.

    Our product is solid but not 100% but at this point we want to really find pain points. Our goal now is to drive traffic from Google and Facebook ads and see what interest we can drum up.

    We recently found we have two big competitors. Their products are okay but are run by old and stuffy people, so the product reflects this.

    This is a bit of a ramble. I hope I can come back in a few weeks and really provide some value in the way of numbers and actual results.
     
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  2. maverick
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    maverick Unorthodox Nonconformist Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Great work on your progress martin. It's a constant battle to stop yourself wanting to add more features. Out of my own experience, I've found that providing your product for free won't always give you the best possible feedback. Because you're not charging anything for it, people will always be nitpicking at things and giving you feedback that might only be specific to their case.

    I've found that charging your first customers is paramount in determining your product roadmap.
     
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  3. Martinv678
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    Martinv678 Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Great advice in that last reply.

    Wanting to add more features is a huge action fake really. I've done it loads, thinking this one features will get the customers running. Unless the customer base is there though you never know (and i've learnt the hard way).

    We're offering a 30-day trial period and in that period we're going to give them phone calls to make sure they are setup okay etc. Would you suggest charging from the start. Our paid fee is super cheap anyhow?
     
  4. maverick
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    maverick Unorthodox Nonconformist Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Going by the fact that your paid fee is super cheap, I would get rid off the free trials for now.

    One paying customer will give you so much more valuable info than XX trials. The paying customer has skin in the game. Follow-up with that customer, understand their pain points (forget about your assumptions for now; focus 100% on their input: what phrases do they use etc), onboard them 100%. Let them know that you will not rest before you 100% solve their problem.

    The trial periods is nice once you have validated your product. It's also a different game to play then as you will be building a sales funnel then and focusing time/effort on reducing churn etc. That however, is not the focus for the phase you are in now.

    One thing I will say: I'm a big, big fan of limiting the functionality of your product once you introduce the free trial. What I mean by that is: identify the 1 core metric that drives usage and then limit that. As an example: checkout lucidcharts.com
    Lucid enables you to build flow charts. Once oyu sign-up for a free account, it limits your chart to XXX elements (e.g. arrows/lines). If you need more elements, you need to signup for a paid account.

    This 1 metric should also be used as a key input for your pricing.
     
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  5. maverick
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    maverick Unorthodox Nonconformist Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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  6. Martinv678
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    Martinv678 Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Thank @maverick for your help. When we release i'll drop you a message and maybe see what you think?
     
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