Today we hit a milestone; five digit ($) recurring revenue from our SaaS tool, GoPinLeads! Here's what we've learned:
This is the most important part of your marketing campaign. 40% of your paying customers are hooked within the first 24 hours of launching your product.
Make sure that as a company, all employees, even the ones who are not linked directly to the project are sharing information about the product. Be prepared to launch, but also be equipped to delay if you aren’t 100% ready.
Get your SaaS platform’s descriptions smoothed out. If you cant describe your product in four or five words, then you have a problem. Make sure to rearrange your descriptions to get your message across.
eg. When we first started out, we called our product a ‘growth hacking tool’ for local businesses. The moment we changed it to an ‘Extensive Google Map Scrapper’, we increased sales by 70%.
Social Media Signups:
Manual registration and signup is a very cumbersome task. Reduce the effort involved by allowing users to signup and login via Facebook, LinkedIn, and Google Accounts.
Feedback, feedback, feedback:
Get as many users to provide feedback as possible. As a founder, I have spent a lot of time getting users to try the product for free and give us feedback via Skype and conference calls.
Aim to get as many free users before the official launch. Release the product for free, initially, and make sure to encourage people to give their thoughts.
Don’t be afraid of negative feedback or criticism. People care about what they are paying for, and therefore are keen to see your product improve. This is a good thing. Don’t feel offended by negative feedback; rather see it as an opportunity for growth.
Make sure to try out your product internally with your team and extensively test your product before you launch it.
eg. Before we launched our product, we did internal testing, which helped us reduce 70% of the bugs. If we had forgotten to do the stress testing, or we opted to forego testing instead of delaying the launch, we may have had a much bigger problem on our hands.
Build in Phases:
We didn’t launch all the functionalities at once. Instead, we have been building it in phases. It's a good idea to aim to launch a new version based on user feedback every week (or at least fortnightly).
Sites like ProductHunt are legitimate resources for getting traction from early adopters and paying customers. Make sure it’s part of your launch strategy.