You’ve created a SaaS! Now it all begins.
You create a SaaS that you think will be useful, reach a wide range of consumers, and become a smash success.
But you need to ask yourself two questions:
1. Who is my target market?
2. Will the system I’m building fulfill an unmet need or demand in the current market?
Remember, even if you define your target market, if they are not willing (or don’t need) to use or pay for your product, why are you even building a SaaS in the first place? You’ll end up wasting a lot of time, money, and effort.
Who Is Your Target Market?
Step One: Determine Target Market.
Step Two: Ask Them if They Will Buy Your Product.
Have you even considered asking them if they would buy your product? How much they would pay?
You should spend a bit of time on the forefront surveying your target. Better to know on the front end if your product is even worth the time, money, and effort you’ll be investing over the next months.
Surveying takes only a couple of hours and a few phone calls. Pretty simple if you ask me, but most people don’t do this and they lose big because if it.
How Are You Reaching Your Target Market?
Alright, now that you know who’s buying your stuff, you’re only competing with all of the internet, right?
No big deal. Of course everyone is going to log off of Facebook and go directly to your website, right?
No? Oh… well I guess we need to take a look at that.
How you market and sell your product key. Being passionate about what you do is just the first step to marketing yourself well. But when it comes down to it, communicating your passion for your product or services is just the beginning. Without solid, actionable steps, you’re just telling people about a product instead of helping them realize why they need to buy it.
How Much Are They Paying?
Mmm, money. Everyone’s favorite topic
Well maybe not everyone’s, but it certainly should not be overlooked or swept under the rug. This is more complicated than a lot of people think it is. As you add functionality to a system, the way you charge changes has to change as well. More functionality, more money. Simple as that.
However, as you add in functionality, allowing old users to pay for one set of functionality and new users to pay for another can be a costly prospect…and can lead to a few unhappy customers.
But then how do you charge customers? Do you charge by the user? By the feature? By the project? By the signature? Some other equally as valid way? Or some combination of all of this stuff?!
Where to Even Start?
Need a little pricing help? No worries. Every entrepreneur has to figure this out at one point or another (preferably before you potentially lose a lot of time and money).
Here’s a little article on how to determine pricing for your business.
Got any insights on pricing? Leave them in the comments below!