10
7 Comments

How a "worse than MLM" idea led to a 86% profit margin product in a weekend.

Aloha! 🌸

Rudi, Stefan and I (Niche Mates) built a YouTube video transcription service in 1.5 days last weekend. It was our first hackathon.

👉 Here's the site: https://www.youtubetranscripts.com/

➡️ Why Did We Build It? ⬅️

I'd started a YT channel to sell my mastic gum brand (Steel Jawline Gum). This hard, natural chewing gum builds the masseter muscle in your jaw- giving you a sharper jawline.

One friend said that it was "worse than multi-level-marketing". Maybe, but it sells.

Anyway, I'd started making videos and was reading up on SEO. I learned that your subtitles (also called transcriptions) are crucial for YouTube to know what your video is about and start ranking it. Like keywords for regular SEO.

YT's auto-generated subtitles don't count. So you've gotta add them yourself... which is a b*****. Always one for spending time to save money, I started looking around at the services on offer.

All the available services were:

  • Too expensive (for what they do)
  • Too slow (24hr turn around time)
  • inaccurate (bad UX and they always get my keywords wrong)

➡️ Do Transcriptions Actually Do Anything? ⬅️

They do. Once I started using accurate transcriptions (and saying my keywords) more often - I went viral. Gosh I hate that word (viral)... but that's what happened.

➡️ What's Next? ⬅️

We've got a SHIP page up and we'll put it on Product Hunt this week. It's not exactly the right audience for it, but we're keen to hear what people think anyway.

We'll follow up with outreach to some YouTuber's we know and iterate based on the feedback.

0 sales so far, but when they do roll in, they'll be at an 86% profit margin with no more work involved. It's basically a traffic problem at this point.

🔺 And with 75% of Americans between 6 -17 wanting to be YouTubers.... there's a large (and growing) supply of customers🔺

🙏 Thanks for reading!

P.S Niche Mates are 3 buddies working on a bunch of cool (or profitable) projects. Follow us on IH and check out some of our projects:

👉 https://www.producthunt.com/upcoming/notifire
👉 https://www.producthunt.com/upcoming/roles

  1. 1

    pretty cool! good job

    1. 1

      Thanks for reading =)

  2. 1

    I watched your YT video with the captions on, and saw several errors. Did I miss understand what your transcription service was supposed to do?

    Why would you leave errors in your own transcript?

    1. 1

      During the hackathon we experimented with a bunch of different ways to transcribe it. My videos were what we tested on lel.

      I'll have to remove those ones.

  3. 1

    Well done! Whoever said this is worse than MLM was an idiot. It sounds like a great value proposition. But cost conscious people can easily find free ways to do it with a bit of workaround.

    1. 1

      Haha the MLM thing was just a joke it's a friend of ours but makes a good headline :p.

      You're right and the way we built this scrappy first version is still a bit of manual labor for the user what we have some ideas how to integrate deeper with youtube if that turns out to be the right niche to go after :)

    2. 1

      Thanks Daniel! I didn't think it was that bad either.

      Exactly, there's cheaper ways to do it. But I haven't found a way that's easier. Either way, there's so many people trying to make it on YouTube that we'll be happy with even a tiny slice of the pie =)

Trending on Indie Hackers
7 Books You MUST Read If You Are A Founder 📚 11 comments What are your procrastination triggers? 10 comments Idea validation: crowdsourced product name vote 8 comments We are close to providing coded UI resources on - UI HUT 6 comments My Core Web Vitals Tool Featured on Product Hunt 🔥 5 comments Mindset shift: if your product helps people, it is your moral duty to promote it 2 comments