Welcome back to another episode of Monetization Nation with Justin Rondeau. In the first episode, we discussed the tectonic shift of Software as a Service (SaaS) and why businesses are shifting towards it.
In today’s episode, I asked Justin to talk me through his top secrets and strategies we should know when creating a new SaaS product. Here are three tips he shared:
1. Know the Problem
In order to begin creating a new SaaS product, we first need to determine what problem our product will solve for our audience.
Before developing a new product, Justin always asks, “Why are we doing this? What’s the very specific problem we’re trying to solve by developing this product?”
Once we have determined the purpose of our product, and the problem we’re trying to solve, we can move on to the next step.
“Be very intentional about what you’re trying to build, what you’re trying to solve, and make sure you are certain that you have access to the audience that you’re trying to solve those problems for,” Justin said.
2. Have Access to Our Audience and Get Their Feedback
After we have found a central purpose for our software, we need to make sure we have access to an audience who would actually buy it. We need to build demand before we create a code.
“Do you have any visibility in the space that you’re trying to provide value in? Do you own the media and some of that space or are you starting completely from scratch?” Justin asked.
We can begin by offering free value to our customers in order to get a feel for what they want and like. Create a website. Create social media accounts. We should start building our audience even before we launch our software product.
“If I were to do anything over again . . . I wouldn’t even start developing the tool yet [until] I started building up a content site or a media site to build an audience of people who would be interested in the tool I’d want to sell in about a year,” Justin said. “Once you have that list of people, you are able to work with them.”
Before we officially launch our product, we should start with a trial. We can do a walk-through with somebody and make sure it is simple and easy to use.
“Right at launch of something, regardless of the price point of the product, what you need to be doing is one-on-one onboarding with people, even if it’s dead simple, and walk them through it, because that’s going to give you conversations with the customer . . . to see what you missed.”
Once we get feedback from a couple of different people and make the necessary revisions, our product is ready to be initially launched and tested. It doesn’t have to be perfect to be launched. In fact, when we get our software out to customers sooner and get their feedback on how to improve it, that will help us to build much better software than if we were trying to build it in a vacuum without client feedback.
“Get constant feedback. Don’t be afraid to get on the phone with people; don’t be afraid to do anything. If you’re not willing to jump on calls and do demos, you’re in the wrong business,” Justin explained.
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