No fluffy content. If your goal is to build a $100m ARR business, this is not the right post. Here I am are NOT going to talk about building the next Facebook or Twitter. If your goal is to make a $1K to $10K MRR, continue reading.
This will cover one SAAS area and talk about multiple niches in this space. This also explains more on how to do tech implementation, do market analysis, how the current players are doing, and also ends with a cost analysis to understand the overall cost for 100 users.
Twitter has 340 million users.
Let's see some of the products built on Twitter.
Buffer : $21m annual revenue ( not just Twitter tool but also has other social media automation)
Tweetpi : Automate Twitter to get more followers - $3.2m - Founded in 2009 (Only for Twitter)
Tweetfull : Twitter Growth Hacking Tool - $1m revenue
OneUpApp : $12K MRR ( not just Twitter tool but also has other social media automation) - Founded in 2017
MeetEdger : $3m Revenue ( not just Twitter tool but also has other social media automation) - Founded in 2014
Hootsuite : $400m per year ( not just Twitter tool but also has other social media automation) - Founded in 2008
Twilert.com : Twitter monitor for keywords, brands - $200K revenue
(Several social media automation tools are not listed here making millions of dollars in revenue)
New players: (launched in last 2 years)
Tweet.photo : Automagically post your Instagram photos to Twitter - Acquired for $30K ($10K in cash + $20K cap based on sales for next 2 years) - Started in 2018
HypeFury : Twitter automation platform - MRR $11,247 - About 16 months to reach $10K MRR - Started August, 2019
Ilo.so : Beautiful Twitter analytics - About $200 MRR and $5K revenue (via one time sales) in 3 months. - Started in August, 2020
Shoutout.so : Just started building a new platform to build a wall of love for personal Twitter. - Got lot of traction - Not yet launched.
Pikaso.me : Take beautiful screenshots of Tweets and post on other platforms.
OnlyTweets : Support the creators you love, directly on Twitter - In beta - An interesting product that you should checkout
“Everyone can build Twitter audience” - An ebook about growing your Twitter audience - made $150K sales in less than 2 years (This is not a saas tool. This is a digital download product) - Can you imagine just a digital product around Twitter making $150K in sales in less than 2 years? This tells us the market for Twitter tools.
Negative Nancy says: This involves platform risk.
Me: There is a platform risk because there is a platform. Having a platform means “finding users more easily”. On a side note, all the above tools are making revenues for years.
Negative Nancy says: There are already many tools around Twitter. How can you find a niche?
Me : (Continue reading the post to find niches around Twitter audience/Twitter API)
Some niches around the Twitter audience
Before we dive deep into niches, let’s wait for a second and see why do people use tools around Twitter.
There are major three reasons
It should let users make more money
It should bring in more followers on Twitter/any other social platform (more followers may bring in more revenues in flywheel effect) - either by self-analysis of Twitter status or by making more engaging posts.
It should automate cumbersome process thereby achieving either 1 or 2
Based on these three points, let's see for a second and dive deep into what HypeFury is doing that it made hugely successful.
Some important features of HypeFury.
Automatic Retweeting - Hypefury automatically retweets after X number of hours or after a certain threshold is reached - This means MORE FOLLOWERS
Automatically Add Sales Tweets - This means MORE MONEY
Image Tweets - This means more engagement and thereby MORE FOLLOWERS
Screenshots of Tweet For Instagram - This means more engagement and thereby MORE FOLLOWERS
Schedule Threads and Tweetstorms - Better AUTOMATION
So, Hypefury is satisfying all the 3 reasons mentioned above - Get more followers, Bring in more money & Automate.
So, whats Hypefury’s principle - “Do one thing and do it well (really really well)”
PS: I would love to listen to your feedback. You may ping me at https://twitter.com/upen946 for any suggestions/feedback