Looking for inspiration.
I'm a solo founder and I'm feeling discouraged to say the least. I'm hoping your feedback and encouragement will help me out of this slump and inspire me once again to be excited about my startup. One of the hardest parts about being a solo founder is lacking someone to bounce ideas off of, so I'm hoping this post can serve as a substitute.
Over the last year I've built a price comparison Chrome extension called Compass, www.letscompass.com. I have experience running a very successful drop shipping company but switching to a consumer app has definitely been a challenge.
One of my main challenges has been finding users who "need" the product. My app recognizes product data on a page, then searches the rest of the web for a cheaper price. If it finds one it will pop up and show where to buy it. My data shows the savings are significant but heres the issue...
No one realizes they are overpaying for a product because, if they did, they would purchase it for cheaper. This makes it very hard to find my target user base because no one is posting "Where can I find X product for cheaper".
I think this makes my problem two fold, and I'm looking for advice on both:
Educating users on how much they could be saving a) What would compel you to download a price comparison app? b) What data or metrics or content could I publish (content marketing) that would convince you of potential savings?
Finding users that need this product a) Can you think of a group of people that know they need a price comparison app? (i.e shoppers who buy high end sneakers and are looking for a time-saving solution") b) Can you think of any additional functionality that would add value to this application?
Any thoughts you have will be greatly appreciated, even if you express concern with the product or business model, I'd love to hear what you have to say.
Hi Casey, I feel your pain, being a solo founder myself, it can be quite challenging sometimes not having someone, who shares the same passion, to talk about ideas.
In Germany, we have a few price comparison sites like Idealo or Geizhals and I assume it's a quite competitive market with some big players.
An idea could be to limit your product to a specific product category, let's say products for babies or mountain bikes, so you start off in a niche. This way you could target a specific audience (new parents, mountain bikers) with Facebook ads, in forums, Reddit or whatever and maybe get some feedback. In general, I'd try narrowing down your target customer base as much as possible.
Hey Dennis, ya I think that is a good strategy, I was trying to think about a way I could find and choose a specific niche. Do you know of any product niche where price comparison is an issue?
Hey Casey, going through the same phase with https://tribyo.com, i can feel you pain.
May be naive, but if you have the capital, targeting key works like "best price for X" on google probably works.
I personally google the product name to see different prices, it will probably attract my if i see "best price for X" as a first result.
Great product, I'm gonna use it. Keep it up 👌
Thanks! I hope you like it, let me know if there are any improvements I can make.
Also, like someone else pointed out, asking for email was sounding like mandatory.
May be asking for the email once the user gets some value out of the product works? Like after he clicked on one of the pricing options suggested by Compass?
Great ideas... Just remember to nudge every user to share on social media how much they saved using let's compass. Keep rocking.
Casey, solo founder here. I can relate to what you are going through. There are more solo founders than you think; shoot me a PM and I can invite you to a solo-founder WhatsApp group.
One thing you have going for you is that there are similar apps out there. So I don't think educating users will be a problem unless you want to target some completely untapped niche.
I'd focus on your second point - finding users who will love your product. I am going to assume your product is better than what is out there, because if not, then you have bigger problems.
One approach I have used at the very beginning is cold outreach. I found users on social media and bloggers who indicated that they use my competitor's product. I was lucky because many bloggers' emails were exposed for me, but you can also message on social media.
When you message them, I recommend not mentioning your product at all. You can say something like, "I noticed you use XYZ... I am doing research on price comparison apps and how they can better. What is one thing you would add to XYZ? etc..." A good book on this is The Mom Test.
Cold outreach takes a long time, but it gets you into conversations with people who already use apps like yours... a very valuable audience to learn from. Only after you have a better understand of your market should think about the traditional acquisition channels like SEO, content marketing, etc... otherwise, you are shooting in the dark.
Just my 2c. Good luck.
Thanks for the advice, I think thats a great idea on cold outreach, just getting into conversation with users to figure out what they want. Sending you a PM now.
Hi Casey,
I agree with @sunshowerlisa's idea of finding communities that are interested in saving money. One that comes to mind is https://www.reddit.com/r/Frugal/.
You could suggest your product as a helpful solution to questions like the one below.
https://www.reddit.com/r/Frugal/comments/8tk4ig/how_can_i_go_about_getting_the_best_deal_on_a/
I know reddit is very sensitive to spam or "shilling", but I think as long as you focus on being helpful and providing value to the community then you should be ok.
Thanks Chris, ya I think reddit is a good option but I definitely have to walk a fine line between shilling and providing useful information. However, I've had okay success reaching out to people directly that post questions such as these, so I might search through /r/frugal to see if I can find such people. Thanks
Hey Casey, eCommerce marketing manager and regular online stores user here. Just came across your extension and tried to test it immediately. My (very subjective) observations:
So I didn't quite understand - does this extension help me to save my money or my time? Or simply take away my frustrations 'what if somewhere there this product costs 20 or 30% cheaper and I just haven't found it?"
Well after that surely I will have little or no trust in the Compass and probably won't use it again.
What tweaks you can make in the product development strategy (again, very subjective)
Hope it helps. Good luck Casey!
Hey Casey,
Is this US only? Tried on a few UK websites (including amazon.co.uk) but had no luck.
For now, just USA.
I love this idea, especially for larger purchases.
The problem with trying to save money online, at least for me, is the thought of having to stop what you're doing and spend 10 minutes or more searching for cheaper options. Or going on dodgy promo sites to look for codes that don't work 99% of the time. I've been using Honey recently which has made things easier and means you literally have no interruptions.
But, when it doesn't, the thought of wasting 10 minutes repeatedly testing codes isn't worth it, unless I know I could save 10-20% or more on a purchase.
I think it would be good to know, on average, how much people have actually saved using the plugin. Compare that to the time effort required to show how it's worth it.
Some ideas:
These are some good ideas for content I could publish. When you say video/gif, where would you like to see that?
On the landing page?
Yep, I'd probably put it under the hero but this is something you can test out to see where works best.
I will put from my personal perspective here, so IMHO.
I shop online a little, few times for year. Most of the time, I simply go to amazon and do a search. Onboarding is simple: I open my browser/mobile, go to a website and type. My pain point is most of the time, there is so much results that I lose interest and simply pick first item, I don't want to waste time on search and compare prices.
So your work fits on my pain point. BUT I need to use Chrome (I use Firefox) on desktop browser.
I'm trying right now to see if it is working, BUT:
So I simply uninstall it and forget for now!
Now my analysis:
So in the end a target customer should:
Hope this could help :D
p.s.: have you tried to get feedback from women ? And observe how a woman uses all of this ? I mean a target group with little or no experience on computers but need to shop and find better prices ?
Hey Vokail, thanks for spending the time to review the app, I really appreciate you sharing. A few questions I have for you:
You said it didn't work for the Adidas Skate Shoes, did you see the similar results that we're more expensive? It looks like the page you we're on was in fact the cheapest price, was the fact that no better price existed considered a reason to uninstall the app (This isn't a loaded question, I'm genuinely interested if I should try better wording)
You also state "do you popout with a registration (why on start? )", what are you asking here?
We don't require an email for the app to work, was it still confusing to ask for the email?
To answer the rest of your questions, about mobile, other browsers, etc: We have plans to work on it, but for now the immediate goal is to find people who need it as is.
Thanks!
Here we are! You are welcome sir!
Good luck!
Oh, SAME though. Completely different space (cloud resources). But yeah, so many people think they're getting the appropriate price.
I wonder if there are communities around couponers? Some people get pretty intense about it, and it could be that you'd find a market there, esp if you can do some calculating shipping shenanigans to see if it's worth it for them to not buy through Amazon?
Thats a great idea, maybe I could do a whole study on if "Free Shipping" was worth it compared to non-free shipping.
I have certainly spent $25 to save myself $8 on shipping 😂
Hi Casey - I haven't looked at the product yet but I think I get the idea (sounds great). There's a site in the UK Money Saving Expert ( https://www.moneysavingexpert.com/ ) which is pretty big. It's the perfect place to find people in your target market. I haven't been for a while but there are forums dedicated to saving ££. The other name which sprung to mind was Mr Money Moustache...I believe he has quite a following so not sure if there's a forum etc but people with the "thrifty" mindset is what I think you're trying to find. I guess the other group is people who love coupons - where do they congregate? Of course all of these groups will have subreddits full of ideas.
I'm sure you've thought of these before but good luck getting inspired - well done for getting s*@t done :-)
Hi JMD, thanks for the response. That's a good idea, maybe I do a bit more personal outreach to people who participate in money saving forums. Thanks for the suggestion.
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