This is what I hope will be a valuable post for everyone looking to grow their SaaS revenue. Before I deep dive, here are some key figures about the product so you can have a big picture.
Launch date: May 18th 2021 (3 months ago)
Industry: SaaS for social media copywriting and scheduling (more specifically, Twitter)
$1K MRR: July 23rd
$2K MRR: August 9th
$3K MRR: August 28th
Pricing: $19 / mo
If I'm being honest, I didn't expect the product to grow so fast. Granted it's not jaw-dropping (yet 😄), but $3K per month is something you can start paying yourself a decent "survival" salary with for 2 people.
So here's how we did it and what I learned.
Validation is payment
If I had a nickel for every time someone told me my idea was great but didn't actually buy my product, I'd be rich.
No matter the amount of emails you collect, or how favorably polls / interviews are to your product, the only validation for a product looking to have paying users is actually having a paying user.
*Must read: The Mom Test by Rob Fitzpatrick *
My co-founder and I systematically build a quick and dirty MVP whenever we have an idea, and always include a payment form.
If someone is satisfied enough to leave their credit card, it's a great sign. If not, we move on.
It takes a bit more time than to just make a landing page, but at least our validation process is solid.
The product we're talking about right now had it's first customers 30min after launching the MVP.
Twitter is underrated
I only started using Twitter in April and now have a decent 2.5K followers. My co-founder is around 12K.
Every single time one of our tweets starts to pick up some steam, we get a bunch of new people starting a free trial.
My recommendations would be to tweet every day and stay on topic. Depending on what you're selling, you want to pinpoint the problems your target audience is facing, offer advice and promote your solution every now and then.
Compounding interests of audience building
As a maker, it's good if you have a consistent target audience and, ideally, a problem big enough to be solved multiple ways.
If you can manage to build an audience and stay consistent in terms of who you want to talk to, then every new follower or newsletter subscriber isn't just a potential client for one of your projects. He/she is a potential client for everything you'll do in the future.
For Tweet Hunter, people who had followed us because of other projects we made got interested in what we were doing because we kept solving the same problem: how to grow your audience and user base as a maker/creator.
Add some services to your SaaS
A handful of people reached out to us because they wanted a custom service where we would actually ghostwrite all their tweets. These clients represent 10-15% of our MRR because they're ready to pay 10x more than regular users.
Of course, don't start offering services that aren't closely related to what your product does. Your goal is to stay a SaaS (or at least stay focused), not turn into some "I'll do anything for a buck" agency.
Introvert/Extrovert 👉 Marketing channels are for everyone
I'm somewhat introvert when it comes to talking to strangers. Reaching out to individual people isn't easy for me. It's a lot easier for my co-founder.
Which is why I tend to focus on writing long-form content, making videos, tweeting, email sequences, landing page copy, etc.
While my co-founder is the one bringing in new opportunities because he just sent a message to someone.
We complete ourselves well in this case, but even if you're a solofounder with an introvert/extrovert mindset, you can just pick the channels you're comfortable with.
PS: perhaps once a week try to get out of your comfort zone by trying a marketing tactic that makes you feel uneasy. The more you do it the better it'll feel and the better you'll be at it.
So these are 5 things that I learned and that really modeled how we're finding paid users for Tweet Hunter.
FYI as far as channels go, here's what we have:
I hope this was helpful, please feel free to ask any questions I'll try to answer the best I can!