Issue#23: Building $1K-$10K MRR Micro SaaS products around Customer Experience tools
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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 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 post will cover one SAAS area and talk about multiple niches in this space. This post 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.
Let’s talk about Customer Experience (CX) tools. Don’t get confused between Customer Experience(CX) and User Experience (UX).
Current players
Get Beamer: Announce latest updates and get powerful feedback with an in-app notification center, widgets and changelog. In 2 years crossed $500K revenue.
Hotjar: Understand how users are really experiencing website without drowning in numbers.Hits $25M in revenue.
IntroJS: Introduce users to your product with a lightweight library for creating step-by-step customer onboarding. Trusted by 5000 customers including Amazon.
Stonly: Build interactive guides to lead your customers to activation, issue resolution, and success on their terms. Grabs $3.5 million in funding.
Smartlook: Records users on websites and in mobile apps. With features that allow you to find useful information even in thousands of recordings in no time. Makes $3M in revenue and received $3.8M in funding.
UserPilot: Helps product teams deliver personalized in-app experiences to increase growth metrics at every stage of the user journey. Estimated revenue is $2M/year.
Toonimo: Personalized interactive guidance, using voice and visual cues, to achieve the ultimate online self-service experience. Founded in 2013. Estimated annual revenue is close to $6M/year.
GitBook: Helps you publish beautiful docs for your users and centralize your teams' knowledge for advanced collaboration. Estimated revenue of $4M/year.
ArchBee: Easily build knowledge bases, internal wikis, documentation sites, API references, developer guides, architecture diagrams and more.
VMO: Record And Playback Visitor Sessions. Use session recordings to look over the shoulders of your visitors as they interact with your website. Estimated revenue $20M/year.
Helppier: Start creating user guides, automated tours, and in-app messages to help users interact with your product.
Replain: Web-chat service that works directly in your WhatsApp, Facebook Messenger and Telegram
Boei: Plug and play social conversations. Chat with site visitors via their favorite channels - Whatsapp, Telegram, Slack, Twitter, Facebook pretty much everything - to offer stellar support and increase conversions.
Negative Nancy says - “Is UX important?”
Me - We are talking about CX(Customer Experience) not UX(User Experience). But yes, UX is as important as CX.
Negative Nancy says - “Customer experience is a long-form game”
Me - So is business. A happy customer brings in more customers with word of the month that can act as social proof.
Negative Nancy says - “User experience is tangible, Customer experience can’t be measured”
Me - User experience is a subset of customer experience. Churn is a simple indicator of negative CX.
Deep-dive
While UX deals with just user experience with the website or application, Customer Experience is altogether a different ball game. Customer Experience deals with a lot of things. Customer experience defines happy customer vs unhappy customer. Customer experience gets points at every step - user onboarding, user renewal, user able to understand and use the product, user billing cancellation process, user login process, user password reset process. For example, if a user is not able to understand how to use your product, that leads to a negative customer experience. If a user is not able to update the billing information or upgrade or cancel plans from the web app, that leads to a negative CX. If a user is trying to find something in the help documentation and not able to easily find it, that's a negative CX. Keeping a customer wait on a chatbot system without faster response counts as negative CX. Any tool that helps in these things comes under Customer Experience tools.
Some niches
User Onboarding tools: With more and more SaaS services coming into the market, there is a great need for user onboarding tools. Think of this tool as something like a guided tour inside the web app that tells users about various options. This is specifically useful for complex apps with complex screens. Possible add-ons would be to add guided voice tours inside the web app. If you want to build a Micro-SaaS tool around this, first look at the IntroJS open source module and see how it fits. Make the tool intelligent enough to segment users based on the flow activity. This will help founders to follow up with their users. The process would be like a goal-based system to final a few goals by clicking certain buttons and following certain actions. Based on how far a user made progress in the goal, you can segment them.
Session Recording: You must have heard of analytic engines like Google Analytics, Simple Analytics, etc but there are tools to capture user actions along with mouse movement and clicks. This is called Session Recording. Create a Micro-SaaS tool that helps website owners to capture user sessions. User sessions shouldn’t capture credit card numbers and sensitive text. So, your tools should be intelligent enough to skip those from recording. On top of this, HeatMaps can be provided as add-ons. All this data will help founders build a better customer experience. Start leveraging open source modules and see how this process works.
Help Docs: For most apps, setting up a help document system is complex without writing a lot of code. Create a simple Micro SaaS tool that lets users create pages and add content in rich text format. Don’t bloat the app. Make it simple. Provide add-ons like custom domains etc so that users can map the help document system to their domain without compromising on brand. Other possible features are to provide customization to upload brand logos. Make sure it supports RichText editor, Markdown, Rich Embeds, Code snippets, videos, etc as well.
Chatbot connected to Help Docs: Create a Micro SaaS tool that automatically builds a chatbot from the help docs data. Users often find it difficult to search through the docs and prefer a quick chat option. A Micro SaaS tool that just automatically reads the help docs and responds to user queries is a great fit for founders to help improve customer experience. Make sure to have simple features to request users’ names, emails, etc during the chat.
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