Issue#115: Building $1K-$10K MRR Micro SaaS Products around Summarization
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InvertedStone, a collection of AI-related tools and scripts by Deepak and Bikash crosses $700 per month revenue.
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No fluffy content. If your goal is to build a $100m ARR business, this is not the right post. Here I am 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 post will cover one SaaS area and talk about multiple niches in this space. This post also explains how to do tech implementation, do market analysis, how the current players are doing, and ends with a cost analysis to understand the overall cost for 100 users.
Let’s see some of the players around summarization related tools.
⛳ ⛳ Current Players
Recast: Converts online articles, blogs, and essays into concise and easy-to-absorb audio explainers. Crossed $54K in revenue.
InSummary: Connects with your calendar and automatically generates performance reviews and status reports.
Otter: AI meeting assistant. Generates transcripts, automated summaries, action items and more. Estimated annual revenue is $19.1M.
Jellypod: Converts newsletters all into a daily podcast. Over 7000+ Podcasts are created.
BLUF: Provides concise answers, summaries, and explanations of web pages. Crossed $1.8K in revenue.
Summarise.Live: Quality insights from videos. Saves to Notion, Readwise, Kindle, Pocket and more.
PDF.ai: Chat with any PDF document, generate summaries and find information. Crossed an MRR of $25K in 4 months.
Video Highlight: AI-powered timestamped summaries and transcripts, highlights key moments, and interactive chats.
Detangle: Simplifies and explains legal jargon.
Eightify: A chrome extension to summarize YouTube videos.
ChopCast: AI-based video clipping tool. Auto-suggested clips based on topics or keywords in the videos.
Sybill: Analyzes sales conversations at a deal-level to autofill the CRM in real time and generates precise call summaries alongside follow-up emails. Used by hundreds of companies.
Mindgrasp: Creates accurate notes, summaries, flashcards, quizzes, and answers questions from any document.
Nyota: Takes meeting notes, automatically creates tickets, and prepares agenda for the next call. Trusted by thousands of teams across the world.
Scholarcy: AI-powered article summarizer for researchers and students. Reached $8 million per year revenue.
Sumly: AI-generated podcast notes and summaries delivered to inbox.
Any Summary: AI-powered summary generator. Can process PDFs, Word and PowerPoint docs, audio and video files
Otio: Summary and chat with documents & links.
FinChat: AI-Powered research platform for global equities. Trusted by 150,000+ investors & organizations.
Inbox Narrator: A service that delivers daily email summaries through voice assistants, offering a convenient way to manage and listen to emails.
🙅♀️🙅 Pessimists
Negative Nancy says - “Sales reps can take notes on their calls. It's not such a big problem”
Me - While it's true that sales reps can take notes during their calls, relying solely on manual note-taking poses several challenges. It distracts the salesperson from actively listening and engaging with the prospect, potentially causing them to miss important details or cues. Manually organizing and synthesizing call notes for future reference can be time-consuming and inefficient. Sybill automates this to a larger extent and is used by hundreds of companies. Momentum is another product that delivers AI summaries of the calls.
Negative Nancy says - “Going through emails every day morning is not a complex task. I can do this myself.”
Me - Agreed but this is not possible when you have hundreds of emails every morning. Manually sifting through countless messages can be time-consuming and tedious, especially for individuals with busy schedules. SaaS products like Inbox Narrator can deliver the summaries through Siri or Google Assistant, or users can listen to them as a daily podcast and saves a lot of time for busy users with a lot of emails every day.
🤿🤿 Deep-dive &&💡💡Some niches
Micro SaaS for Personalized Daily Podcast of Emails
Many people start their day by reading lots of emails to see what's happening. This can be stressful and take a long time. Sometimes, important things get lost in all the emails. It's hard to decide what to do first. This makes it tough to stay organized and get things done. SaaS products that can send personalized daily podcast of Emails summaries can make mornings easier by delivering important information in a convenient way. Instead of sorting through a pile of emails, individuals receive a short audio summary tailored to their interests. This helps them quickly grasp the key points without feeling overwhelmed. By listening to the podcast, they can efficiently plan their day and prioritize tasks. This saves time and reduces stress, allowing them to start their day feeling more organized and focused. Inbox Narrator is one good product in this space that summarizes emails in a conversational voice using AI. Inbox Narrator can deliver the summaries through Siri or Google Assistant, or users can listen to them as a daily podcast.
Micro SaaS for Sales call Summaries
Sales representatives often spend a lot of time on calls with potential customers, discussing details about products or services. However, keeping track of all these conversations and remembering important points can be challenging. Without proper summaries, valuable insights and follow-up actions might get forgotten or overlooked. SaaS products offering sales call summaries provide a solution by automatically recording and summarizing these conversations. This helps sales teams stay organized and ensures that no important details slip through the cracks. With easy access to summarized call notes, sales representatives can quickly review past conversations, identify key points, and follow up effectively, ultimately improving productivity and closing more deals. It’s important to have integrations for all popular CRMs around Sales to improve traction. Check Sybill to understand how this works. Sybill analyzes the sales conversations at a deal-level to autofill CRM in real time and generates precise call summaries alongside follow-up emails. Sybill is used by hundreds of companies. Also checkout Momentum that delivers AI summaries of the calls.
Micro SaaS for Summaries of Newsletters
With lots of newsletters filling up email inboxes every day, many people find it tough to stay updated. There are just so many newsletters to go through. This makes it hard to read them all and keep track of important information. Plus, there's not much time to read everything with all the other stuff going on. As a result, it's easy to miss out on important news or interesting updates from the newsletters. Jellypod solves this problem by providing an unique email id that users could use to subscribe to ant newsletter. Then Jellypod uses AI to summarize important topics from a user's newsletters and compiles them into a daily podcast. Users can customize the podcast by choosing a voice, setting a schedule, and organizing newsletters by theme. Over 7000+ Podcasts are created by Jellypod. Using proprietary AI models, Jellypod transforms the newsletter subscriptions into a personalized, daily podcast – enabling users to stay up-to-date with the news they actually care about.
Micro SaaS for ‘Read Later’ Audio Summaries
Many people aspire to read a lot of content, but due to time constraints, they often end up saving articles to read later, only to forget about them. This results in a growing backlog of unread material, adding to the challenge of staying informed. Micro SaaS products in this space address this issue by providing a convenient solution for consuming saved content on the go. These products let the users save the web links/bookmarks via webapps, Browser extensions or Mobile apps. The SaaS solutions simply converts the saved web links/bookmarks into easily digestable content. Recast is one good example in this segment that crossed $54K in revenue. Recast takes the hassle out of reading long articles, by turning them into entertaining, informative, and easy-to-understand audio conversations. Audio content is much easier for many users to consume because they can listen to it while driving, cooking, and engaging in other activities
Micro SaaS for Research paper Summaries
Getting research paper summaries can be tricky because research papers are often lengthy and filled with complex terminology. Reading through them can be time-consuming and overwhelming, especially for students or professionals who need to review multiple papers for their studies or work projects. However, research paper summaries are important because they provide a concise overview of the main findings, methods, and conclusions of a paper. They help individuals quickly understand the key points without having to read the entire document. SaaS products can assist by automatically generating summaries of research papers, saving time and making it easier for users to access relevant information efficiently. Scholarcy is one such AI-powered product that reached $8 million per year revenue. As article summarizer tool, Scholarcy creates a summary flashcard of any article, report or document in Word or PDF format. Scholarcy creates links to open access versions of cited sources, and can be configured to extract figures, tables and images and helps users to speed-read the article, follow the arguments and take away the main points in minutes.
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