Issue#87: Building $1K-$10K MRR Micro SaaS products around Video Related Tools
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Micro SaaS News this week in 2 minutes
(This saves you hours of time and keeps you up to date on what's going on in Micro SaaS.)
Our Micro SaaS HQ Pro member Mariam grew AI Brews - a newsletter covering AI updates - to 1170+ subscribers in less than 3 months.
WideBundle a Shopify app, reaches $40K MRR. See this earlier interview of founder, Mat De Sousa, on FounderBeats
Chatbase built by Yasser reached $59,000 in MRR after launching on Twitter to his 16 followers 3.5 months ago
Ch Daniel shares how he’s making $200k per year from multiple products
Gwendal Brossard made $2,300 in sales within the first week of PaletteBrain - a macOS application that allows users to use ChatGPT across all their applications using a shortcut.
Unriddle, an app to query documents using GPT-4, generated $1.9k revenue in just over a week
meetergo reached $25k MRR in 1.5 years as a bootstrapped business
Ben Gorman on growing sif'd to $1K ARR in 6 weeks after launch.
AgentRunner.ai by Nicolas Trésegnie, an app for creating GPT-4 powered autonomous agaents, reaches 60+ sign-ups per day
Let’s see today’s Newsletter around a Micro SaaS niche.
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, and 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 video-related tools
⛳ ⛳ Current players
Lanva - Uses AI and machine learning to analyze a video to create a searchable, actionable index of topics and unlock otherwise buried key moments, insights and knowledge.
Maven - Maven lets users create their own member-based video channels. Recurring revenue comes directly from fans/members
Pictory - Automatically creates short, highly-sharable branded videos from long-form content. Founded in 2019, Pictory received $2.1M in funding. In 2022, it hit $750K in revenue
TestimonialTo: In minutes, you can collect video testimonials from your customers with no need for a developer or website hosting.
Spark Hire - A video interviewing platform where candidates answer interview questions in a pre-recorded video interview. Supports live interviews as well. Founded in 2010 by Josh Tolan, Spark Hire has reached an estimated annual revenue of $8.2M
SpiritMe: Instant video production with digital avatars Type any text and the tool will generate a video like a real video, with the user’s appearance, voice and emotions.
Synthesia - an AI video generation platform that enables users to quickly create videos with AI avatars, in over 120 languages. Founded in 2017, the estimated revenue is $15.7M
LemList: LemList helps with Personalize cold emails, automate follow-ups, and helps engage with leads across all channels. Lemlist is sales automation and cold email software. Generating millions of dollars in revenue.
SproutVideo - Powerful live and on-demand video hosting for businesses. Easy-to-use tools for secure video sharing, video marketing, player customization, analyzing viewer engagement, etc. SproutVideo is bootstrapped and founded in August 2010. It reached $627K in revenue in 2022
Munch - Munch extracts the most engaging, trending, and impactful clips from long-form videos, using generative AI and marketing analytics
Vouch - Users can communicate with short, authentic videos right from their workflow. Vouch’s Q&A-based video platform brings context and efficiency to sales, marketing, customer success, recruitment, and more. Founded in 2020, Vouch hit $2.5M in revenue in 2022
Sendspark - Lets users connect to their customers with personalized videos at scale. In 2022, reached $490.7K in revenue
Pitchlane - Automated Video Prospecting that lets users generate 1000s of personalized videos for cold outreach.
Video Ad Machine - A Shopify app that automates the creation of engaging creatives and powerful ad campaigns
myInterview - accelerates hiring and helps in making better recruitment decisions with video interviews. Estimated annual revenue is $1.6M
Nuro - an AI-driven video editor that fully automates the video editing process.
Waymark - Lets users create professional quality TV, CTV, and digital ads easily from built-in templates and a simple editor. Recently launched an integrated AI tool that lets users generate video ads by entering only their business name. Founded in 2010, Waymark has received $4.6M in funding and the estimated revenue is $690.0K annually.
clipbot.tv Automatically uploads Twitch clips to TikTok and YouTube Shorts.
Dyte - Dyte offers a real-time video and voice solution for developers to integrate high-quality video/voice calls into the web, mobile, and desktop applications. Call recording, live streaming, webinars, live transcription and translation, chatting, polling, quizzes, and many other features are available with Dyte. Dyte's estimated annual revenue is $4.1M per year.
Shotstack - Users can develop video-centric applications using a cloud-hosted, fully managed, automated video editing service that saves hundreds of hours developing, configuring software, and maintaining infrastructure. Founded in 2021 by Derk Zomer and Jeff Shillitto
Wave.video - Live Streaming Studio, Video Editor, Thumbnail Maker, Video Hosting, Video Recording, and Stock Library combined in one platform. Founded by Dmitry Skavish and Kate Skavish in 2017
🔒 👉 [In Pro] See which video conversion tool crossed $1K in revenue..
🔒 👉 [In Pro] See who reached $14,500 in MRR in Jan 2023 from a video editor
🔒 👉 [In Pro] See which video testimonial tool made $3K USD in 10 days after launch and has now grown to thousands of dollars in MRR.
🔒 👉 [In Pro] See who made $4034 from 56 customers from the 48-hour presell launch, in mid-2021, from an AI video tool
🙅♀️🙅 Pessimists
Negative Nancy says - “Building video-based products is often complex”
Me - Products like Shotstack and Dyte have made it really easy to add video capabilities to SaaS products. They have direct API/SDK integrations without the need for any robust infrastructure or complex setup.
Negative Nancy says - “There are already so many tools for this”
Me - Media editing tools are here to stay with more and more creators building a ton of things. Everyone needs images, audio, and video. These tools increase user engagement.
💡💡 Deep-dive & Some niches
Micro SaaS around Personalized Sales Videos:
Personalized sales videos are a highly effective sales tool. Personalized videos have a much higher click-through rate than generic, non-personalized videos. This is because personalized videos are tailored to the recipient and are more engaging and relevant to their needs, increasing the chances of them taking action. The demand for personalized videos is growing rapidly and customers expect a personalized experience. Personalized videos are a brilliant way to deliver that rich experience. Many businesses, especially those in the B2B space, are recognizing the effectiveness of personalized videos and are looking for solutions that can help them create these videos quickly and easily. Many businesses struggle to create personalized videos, either because they don't have the expertise or the resources to do so. By building a Micro SaaS that offers an easy-to-use platform for creating personalized videos, you can provide a solution that solves a real pain point for these businesses. Sendspark and Pitchlane are two good examples of this niche. In 2022, Sendsparkreached $490.7K in revenue. LemList is another example of this niche generating millions of dollars in revenue.
Micro SaaS around AI Video Generator with Avatars:
Videos are a great source to drive traffic to any business but it consumes a lot of time in preparing videos. Videos can be a highly effective tool for driving traffic to businesses, especially in today's digital landscape. Create a Micro SaaS solution that can create Videos from prompts/text using AI with readily available avatars. Users would input a script or some bullet points, and the tool would use AI to generate a video that matches the content. The tool could also come with a variety of readily available avatars or characters to choose from, making it easy to create engaging and visually appealing videos. Not only would this tool save businesses time and resources, but it would also make it possible for anyone to create high-quality videos without needing extensive video editing skills. Plus, with the rise of social media and video-based platforms like TikTok and YouTube, there's a growing demand for businesses to create videos to reach their target audience. If the Micro SaaS solution can also create videos from prompts using AI with readily available avatars, it would be an incredibly valuable tool for businesses of all sizes. It could help them create engaging video content quickly and easily, without needing to invest in expensive video production equipment or hire a professional video team. Founded in 2017, Synthesia is a great product in this niche with an estimated revenue is $15.7M.
Micro SaaS around Video Interviewing:
Video interviews have become increasingly common, with many companies using platforms like Zoom or Skype to conduct interviews. However, these tools are not specifically designed for the purpose of conducting job interviews, and can often lead to technical difficulties or distractions that may hinder the interview process. This is where Video Interviewing Tools can make a difference. By building a Micro SaaS product that is specifically designed for conducting job interviews, companies can streamline their hiring process and improve the overall candidate experience. With features such as scheduling tools, automated reminders, and customized interview questions, the product can help companies save time and improve the quality of their interviews. Some examples in this niche are myInterview and Spark Hire. See more hereand here. Also, see TalView - Talview’s Online Video Interview lets companies assess candidates’ soft skills, motivation, proficiency, and expertise in a single step. Together with Talview Behavioral Insights (TBI), companies can leverage Natural Language Processing (NLP) and Machine Learning (ML) to gauge emotions, analyze tone, psycholinguistics, and more. The estimated annual revenue of myInterview in this niche is $1.6M. Founded in 2010 by Josh Tolan, Spark Hire has reached an estimated annual revenue of $8.2M
Micro SaaS around Video Ads Generator:
Generating video ads is often a complex task for businesses to experiment with multiple ads and see what works. Create a Micro SaaS product that can easily create high-quality video ads without any technical expertise. The software will take care of all the hard work, from selecting the right images and video clips to adding music and effects, all the user need to do is provide the content and let the tool do the rest. Users should be able to create eye-catching video ads for products or services and promote them on social media or other advertising platforms. This could help users reach a wider audience and drive more traffic to their website or sales page. Tools like these can save a lot of money to users by not hiring a professional video editor or buying expensive software. For inspiration, see Waymark in this space that was founded in 2010 and received $4.6M in funding and the estimated revenue is $690.0K annually.
Micro SaaS to convert Product Catalogs to Video Ads: (a good fit for B2B)
A Micro SaaS product that can convert Product Catalogs to Video Ads can help businesses to create engaging video ads from their product catalogs. This tool can be a valuable asset for a variety of reasons. Tools like these can help businesses to showcase their products in a more visually appealing way. Instead of relying on static images or text descriptions, businesses can create dynamic videos that highlight the features and benefits of their products. This can help to capture the attention of potential customers and increase the likelihood of them making a purchase. This can also save businesses a lot of time and effort. Creating high-quality videos can be a complex and time-consuming process. With a Micro SaaS solution like this, businesses can simply input their product information and select from a range of pre-built templates and styles to quickly create professional-looking videos. Instead of creating videos on a one-off basis, businesses can create videos for multiple products at once and distribute them across a variety of channels, such as social media, email marketing, and website landing pages. This can help to increase brand awareness, reach more potential customers, and drive more traffic and sales. If you need more help in visualizing how this works, see Video Ad Machine that’s primarily built for Shopify.
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💻 💻 Technical chops
Learn technical pointers on how to build products around this niche.
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📢 📢 Marketing chops
Learn Marketing pointers on how to start marketing the products for this niche. This should give you a marketing head start.
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💳 💳 Cost Analysis for 100 customers
Learn how much it costs to build a product in this niche and cater to 100 customers.
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