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If you were running this SaaS, would you pivot now?

Hi everyone,
I started building Serpivore.com in june and launched it in early september. Serpivore is a SERP Rank Tracker, a type of SEO analytics tool that exists for a decade, no hype in there but it seems to be a decent SaaS model for some SEO companies. I actually built it over several years for my own usage and decided to re-build it as a SaaS last june.

Serpivore does almost everything you would expect from a rank tracker, plus it does better than most others at tracking SERP features and competitor rankings analysis. Along this, my best value offer is a FREE PLAN with 20 keywords/day (!!!) and my paid plans are the best value in the market. Well, yes I may play cheap, but the competition exists for a decade so I need to get some attention!
After I modestly launched on ProductHunt and on some Facebook SEO groups, I quickly got about 200 users, on Free Plans. The PH early adopters almost all quit, and now remains about 40 (real SEO) active users.
Serpivore has great paid plans, starting only $4/month and they are much cheaper than the competition, this is actually the best value in Serpivore but nobody has managed to see it yet, I guess because the current users are not the right target users, they have small websites and don't need to track many keywords.
Despite having such a generous free plan, the word of mouth has slowly faded. The current users are not asking for any new feature (somehow that's good) and they keep using Serpivore everyday. Without any spark of product validation, and with some users abusing the free plan (let's create 5 free plans instead of paying a $4/month plan!!! well, maybe I get the customers I deserve...) my motivation is running at the lowest point, hesitating between two options:

OPTION 1 would be to give it a few more months and try to do a few marketing actions here and there. I'm not very good at this though, and every failure push me to the lowest point. After few months, if the free plan still does not drive any attention, I could try to run an affiliate program, as most SEO blog writers seem more interested in making money with promoting paid plans than promoting freely a free rank tracker. This would also mean stopping the current free plan for new users.

OPTION 2 would be to pivot right now. I would stop the free plan right away (with keeping the current users on it of course). Removing all the lowest plans. The first plan would be the $29/month for 1000 kwds daily plan. And I would position Serpivore as the Rank Tracker to use along those all-in-one SEO tools such as Ahrefs and SEMRush, because if you want to track many keywords, those tools become extremely expensive. I would also emphasize the copywriting on "long-tail keywords SEO". Plus I would cold email websites with medium/large products databases. This OPTION 2 is actually the real reason why I built Serpivore and named it this way...

Pivoting right now seems a bit early. But wasting time does not seem better either.

I don't have any co-founder so I'm asking you : In my position, what would you do ?

on October 18, 2021
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    Option 2 looks like the most promising pathway forward, to me. That said, perhaps you could reach out to the current user base and make your case for why they should pay such a paltry amount, letting them know you’re considering some big changes due to current financial viability?
    Perhaps you could start a group on FB to get input from users or maybe just email the users you have now and try and find out why people are not paying? Or what it would take to shift their thinking.

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      Thanks for your advices Shaun.
      This is something I actually fear to do, but yes I should contact the active users who have maxed their 20 free keywords to better understand them.