I've been helping a fellow Indie Hacker grow his SaaS over the past couple months.
After launching the MVP in April, it was launched on a Life Time Deal marketplace...
The original thinking was to do so in order to validate the idea, get early users, and gather feedback from these users. It's been a success with over 200+ purchases of the LTD in a matter of a few months.
To date it's really been the only "acquisition channel" deployed
We're now moving towards executing on a plan to update the marketing/positioning based on all the feedback we've gathered and are starting to go after new traction/acquisition channels.
It's served it's purpose of validation/feedback and the $29 LTD (nearly half of which goes to the marketplace) isn't really moving the needle on rev.
Sort of the classic dilemma of:
Curious what your thoughts are!
Hi John,
I guess it's a question of how much $ you have stashed in the bank, so how long can you last without incoming revenue?
Anyway, judging by what you've shared here, I would definitely kill the LTD within 3 months tops.
Since you've validated your idea, time for getting the right customers. And my take is -- they will be very different from your early users which are probably looking just to save bucks.
Yeah, it's a bootstrapped effort for now with a very small team so runway isn't a big concern.
Your point about the difference in customer "persona" between LTD buyers and subscription buyers wasn't something I had really thought of but you're totally right.
You get an early deal of a product for $29 when it's priced at $10/mo -> you're thinking you just made out with a steal. And at the end of the day you're not too concerned with seeing incremental improvements to the product.
When you're buying a subscription, I would agree that your expectation for the product will likely be higher.
Very interesting! Appreciate your feedback/thoughts.
Yeah, and people will also appreciate what you've been doing quite a bit more.
You wouldn't believe the trash feedback I got from some people when I had my app for free... I still get some trash feedback now, but waaay less than when I was giving my app for free.
Also, good to hear from you @johnt2021 , didn't even realize who I was speaking with for a sec :D
Hehe 😁