Issue#24: Building $1K -$10K MRR Micro SaaS products around User Feedback and Testimonial 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 Feedback and Testimonial tools.
Current players
Upvoty: Instant feedback. Turn user feedback into actionable product optimizations. Made $4K MRR in 2020.
TestimonialTo: In minutes, you can collect video testimonials from your customers with no need for a developer or website hosting. Made $3K USD in 10 days after launch.
Canny: Build better products with customer feedback Capture, organize, and analyze feedback in one place to inform your product decisions. Making $800K ARR.
Shoutout: Shoutout makes it incredibly easy to tap into your existing social proof and turn it into a beautiful "Wall of Love". Launched towards the end of 2020. Making about $1K MRR.
Boast: The easiest way to collect customer feedback, video testimonials, and online reviews. Everything you need to automatically request, collect, and share feedback from your customers.
UserVoice:A single, centralized product feedback solution that gives you everything you need to gather, aggregate, analyze, and follow through on feedback from customers and internal teams.
HelloNext: Simple and efficient customer feedback. Hellonext bridges the gap between your day-to-day development activity and customer feedback. Estimated 2020 annual revenue $30K.
Negative Nancy says - “User feedback can be obtained via an email and we don’t need a tool for that.”
Me - Yes. User feedback and testimonials can be requested by email but this doesn’t scale.
Negative Nancy says - “It’s easy to request user feedback.”
Me - Try reaching to your users and you would be surprised to see the poor response. Everyone is busy to respond. Build tools that make it extremely easy to provide feedback.
Deep-dive & Some niches
Feature Feedback tool: Founders building SaaS often find it tough to prioritize their feature development due to a lack of proper feedback from paying users. While sending emails and asking people for feedback via email is doable, it doesn’t excite customers to provide feedback. Create a Micro-SaaS tool that builds a commonplace(web page) where SaaS founders mention their product roadmap and get votes/feedback on the new features - all in one place. The webpage should also display released features and provide a way to get feedback about released features as well. As an add-on, the tool can also have a ‘notify me’ that notifies the interested people when the feature is released.
Video-based testimonials: Video-based testimonials are on the rise. While there are tools to request text-based feedback, a specific tool that requests video feedback is on demand. Testimonial.to solving the same problem launched in 2020 made $3K in sales in 10 days and is constantly improving on MRR. Create a Micro-SaaS tool that lets founders request video-based testimonials to their customers. The tool should be able to capture video feedback from any device and should be able to create a “wall of love” with all the uploaded video testimonials. The Micro-SaaS tool should also provide an embeddable javascript to embed and display these video testimonials on any website.
Keyword volume data: While the word “testimonials” has a volume of 200K searches per month, the “Video testimonials” keyword has 5400 searches per month. That's a decent volume to target at.
Twitter-based testimonials: People provide feedback to your product in various channels including Twitter. Create a Micro-SaaS tool that reads your Twitter feed for positive feedback and consolidates all positive tweets in one place. This can be pretty much extended to any social media platform as long as you have API access to those platforms. Provide an embeddable javascript that lets founders embed this javascript on any web page to display these Tweets. Shoutout is doing good in this space and see for some inspiration.
Single link with all platforms to give feedback: A Micro-SaaS tool that provides a single unified link for all platforms. The link should let users select the channel to send feedback. The channel could be pretty much anything like Twitter, Facebook, Email, Text-based input, Whatsapp, Telegram, etc. Some users feel it is easy to provide feedback through tools like Whatsapp and Telegram and this also lets you establish a personal connection with users and this makes the paying users feel included. As an add-on, you can also provide SMS-based feedback by providing a number to receive the text. Tools like this will make it easy to receive feedback from users.
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