Roast This Please: Paid Referrals For SaaS Apps
Here's the idea: its hard to get SaaS products off the ground, particularly in a saturated market. Getting new users can be challenging regardless of industry.
What if you could reward people for driving users to you? Idea would be a platform called ReferredBy, which would allow users and companies to sign up. Users can use the platform to send referral emails to their friends. When that person signs up for a paid plan for a given SaaS product (maybe only after he/she stays for at least one subscription cycle), the referrer gets a reward determined by the company his/her friend signed up to.
I think this could be a really cool way for people to get more growth for their SaaS tools, and for people to actually be interested in referring others to products.
Thoughts?
UPDATE: I just thought of a way to build this, so i'm gonna try to get this out there over the weekend! Thank you for the views and feedback, please keep it coming!
It’s a good idea, have you done a google search?
How are you going to differentiate from existing solutions?
cool! certainly hard thing to do, so good to focus here. seems like signal to noise ratio here is really high. anyone with good leads, i'd ask why they'd share them, or more impt, how'd they price them. guess is they'd overcharge, not under, so you need to prove how this is actually setting the right price first before assuming the mkts efficient. maybe you start with local mkts, saas that's for local biz first. may be some actual arbitrage there. otherwise, this seems like a complicated value prop. now if u offered them ownership and upside vs a finders fee, that might get people more aligned.
Hey Matt, thanks for the reply. Appreciate your time. I think i need to clarify: the company would set the referral bonus for the referral, not the referring party, so it would be capped at a price that allows the company to be profitable
Ah! thanks for clarifying.
This comment was deleted 4 years ago
Thank you! Really appreciate your feedback. yes, i'm a developer myself, but im considering going the Webflow route for expediency. Im really not sure which way to go, so would appreciate any advice / wise words you have for me!
This comment was deleted 4 years ago
This comment was deleted 4 years ago
Hey Goodinahoodie, sorry for the delayed reply - yeah im on Telegram, lets chat! How does tomorrow (Sunday) at 1pm CST sound to you? Not sure if that works with your time zone but LMK and would love to discuss - thanks for reaching out!
Late to the party, but I think this idea is interesting and I'm willing to chat on discord if you are interested.
Would love to, sure! Let's talk. I don't actually have a discord, but lets set a time and ill create one to use
I'm free this weekend. this is my username flex#1337
Hey man, lmk if you wanna connect - thanks again!