Thread by Dickie Bush
- Tweet
- May 10, 2022
- #Marketing #ProductManagement #SoftwareBusiness
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4 ways to grow a SaaS product:
1. Generate more leads
2. Convert more leads into customers
3. Reduce churn of current customers
4. Ascend your most passionate customers into higher-paying tiers
Let's dig into each one (and how you can use them to increase revenue):
1. Generate more leads
2. Convert more leads into customers
3. Reduce churn of current customers
4. Ascend your most passionate customers into higher-paying tiers
Let's dig into each one (and how you can use them to increase revenue):
Quick heads up:
This thread will breakdown the playbook we are using to grow Typeshare (@typeshare_co).
Current MRR: $16.1k
End 2022 goal MRR: $50k
So throughout this thread, replace "Typeshare" with your SaaS name.
Here's how we're thinking about each of these 4 steps:
This thread will breakdown the playbook we are using to grow Typeshare (@typeshare_co).
Current MRR: $16.1k
End 2022 goal MRR: $50k
So throughout this thread, replace "Typeshare" with your SaaS name.
Here's how we're thinking about each of these 4 steps:
Step 1: Generating more leads
Simply put, we need more people to know about Typeshare.
So our plan is to:
• Tell more people about Typeshare
• Get current Typeshare users to tell more people about Typeshare
• Create helpful writing resources with Typeshare as the platform
Simply put, we need more people to know about Typeshare.
So our plan is to:
• Tell more people about Typeshare
• Get current Typeshare users to tell more people about Typeshare
• Create helpful writing resources with Typeshare as the platform
How we are executing each step:
To tell more people about Typeshare, we are going to:
1) Write about it (threads like this!)
2) Tweet more publicly about its current features and newest features
Simple enough, and easy to apply for any SaaS business.
To tell more people about Typeshare, we are going to:
1) Write about it (threads like this!)
2) Tweet more publicly about its current features and newest features
Simple enough, and easy to apply for any SaaS business.
To get current Typeshare users to tell more people about Typeshare, we created a referral program.
• 30% recurring commission for every referral
• 1-click referral program setup from the homepage
• 1-click link share to invite a friend with your referral link
Again, simple.
• 30% recurring commission for every referral
• 1-click referral program setup from the homepage
• 1-click link share to invite a friend with your referral link
Again, simple.
Lastly, we are going to create helpful YouTube videos and blog posts talking about digital writing in general (and use Typeshare as the example platform).
The easiest way to market your SaaS is to show it, in action, solving the problem it helps solve.
The easiest way to market your SaaS is to show it, in action, solving the problem it helps solve.
The takeaways for your SaaS on generating more leads:
• Talk about your product more
• Create a dead-simple referral program
• Create content that shows your product in action (so users can *see* how it's going to solve their problem)
With all of these leads, let's convert:
• Talk about your product more
• Create a dead-simple referral program
• Create content that shows your product in action (so users can *see* how it's going to solve their problem)
With all of these leads, let's convert:
Step 2: Converting more leads into customers
Typeshare's current user breakdown:
• 16,286 free users
• 626 trialing users
• 846 paid users
Here's how we think about those numbers:
Typeshare's current user breakdown:
• 16,286 free users
• 626 trialing users
• 846 paid users
Here's how we think about those numbers:
Currently, just 5% of our free users have upgraded to paid.
Which means there are 2 things to improve:
• Better communicating the product's value to free users
• Stack more into the offer such that it's "an insane amount of value at a laughably low price."
Which means there are 2 things to improve:
• Better communicating the product's value to free users
• Stack more into the offer such that it's "an insane amount of value at a laughably low price."
To figure out what is *the most valuable* part of the service, we started talking to our paying users 1:1.
The same thing kept coming up:
• The templates save me time
• The 1-click multi-platform publish saves me time
So what are we now hyping up?
Typeshare saves you time.
The same thing kept coming up:
• The templates save me time
• The 1-click multi-platform publish saves me time
So what are we now hyping up?
Typeshare saves you time.
When your paying customers tell you exactly why they are using and paying, you should use that exact language everywhere.
So now all of our copy is around amplifying the problem:
"You're wasting time starting from scratch and republishing with copy and paste."
So now all of our copy is around amplifying the problem:
"You're wasting time starting from scratch and republishing with copy and paste."
Here's how to think about it.
Your SaaS can solve 2 types of problems:
• Obvious problem (your user knows exactly what is wrong and is looking for a solution)
• Non-obvious problem (your user doesn't know about the problem, which means you need to educate them)
Your SaaS can solve 2 types of problems:
• Obvious problem (your user knows exactly what is wrong and is looking for a solution)
• Non-obvious problem (your user doesn't know about the problem, which means you need to educate them)
Saving time with templates and republishing is a *non-obvious* problem for most people.
They don't know that things could be much faster.
So we are going to:
• Educate them on the problem
• Position Typeshare as the obvious solution
Amplify problem → provide solution.
They don't know that things could be much faster.
So we are going to:
• Educate them on the problem
• Position Typeshare as the obvious solution
Amplify problem → provide solution.
The takeaway for your SaaS on converting more leads:
• Figure out why your paying users are paying
• Figure out if the problem is obvious or non-obvious
• Educate them on the problem (and amplify the benefits of solving it)
• Position your product as the obvious solution
• Figure out why your paying users are paying
• Figure out if the problem is obvious or non-obvious
• Educate them on the problem (and amplify the benefits of solving it)
• Position your product as the obvious solution
Alrighty so far we've talked about:
• Generating more leads
• Converting more leads to buyers
The next 2 steps:
• Reducing churn
• Ascending our most loyal customers into higher-level tiers
• Generating more leads
• Converting more leads to buyers
The next 2 steps:
• Reducing churn
• Ascending our most loyal customers into higher-level tiers
Step 3: Reduce churn
This one is straightforward: people don't cancel subscriptions that are integral to their workflow.
Our goal is for paying users to "build equity" in Typeshare.
We do that by introducing equity-building features.
And we're doing that in 2 big ways:
This one is straightforward: people don't cancel subscriptions that are integral to their workflow.
Our goal is for paying users to "build equity" in Typeshare.
We do that by introducing equity-building features.
And we're doing that in 2 big ways:
First, we are going to make is stupid simple for someone to connect a custom domain to their Typeshare Social Blog.
Before: "typeshare (dot) co/dickiebush"
After: "dickiebush . com"
We are going to bake this process into the onboarding for trialing paid users.
Before: "typeshare (dot) co/dickiebush"
After: "dickiebush . com"
We are going to bake this process into the onboarding for trialing paid users.
Second, we are going to gamify the writing process.
Typeshare Pro users will be able to:
• Collect badges
• Earn Typeshare Tokens
• Unlock special offers in the Pro Store
• Have public status badges as Pro Users
Typeshare Pro will be a digital writing video game.
Typeshare Pro users will be able to:
• Collect badges
• Earn Typeshare Tokens
• Unlock special offers in the Pro Store
• Have public status badges as Pro Users
Typeshare Pro will be a digital writing video game.
The takeaway for your SaaS to reduce churn:
• Find out ways to increase the "process equity" your users build in your product
• Make it dead-simple for them to use those features during onboarding
• Reward them for taking steps that lead them to build process equity
• Find out ways to increase the "process equity" your users build in your product
• Make it dead-simple for them to use those features during onboarding
• Reward them for taking steps that lead them to build process equity
Alrighty, so far we've talked about:
• Generating more leads
• Converting more leads to customers
• Reducing churn of current customers
Lastly, let's talk about ascending customers up the value ladder.
• Generating more leads
• Converting more leads to customers
• Reducing churn of current customers
Lastly, let's talk about ascending customers up the value ladder.
Some of your users are willing to pay more for additional features.
Your job is to:
• Identify those users
• Ask them about those features
For us, we revisited our 1:1 interviews and found out:
People *love* templates – and they want more.
Your job is to:
• Identify those users
• Ask them about those features
For us, we revisited our 1:1 interviews and found out:
People *love* templates – and they want more.
So, we are going to deliver.
We've created a Pro Store which will let users buy the Templates+ subscription.
We will market this add-on directly to users who are getting the most value out of our templates (and are willing to pay more for additional ones).
We've created a Pro Store which will let users buy the Templates+ subscription.
We will market this add-on directly to users who are getting the most value out of our templates (and are willing to pay more for additional ones).
The takeaway for your SaaS to ascend customer LTV:
• Identify your most-engaged customers
• Figure out the additional things they are looking for (and willing to pay for)
• Create those things and market it directly to them
Voilà! More MRR without having to find new leads.
• Identify your most-engaged customers
• Figure out the additional things they are looking for (and willing to pay for)
• Create those things and market it directly to them
Voilà! More MRR without having to find new leads.
Alrighty, that's it!
I hope this was helpful as you look to take your MRR to the next level.
If you want a convenient way to write about your SaaS (and generate more leads in the process!), start writing on Typeshare:
typeshare.co
I hope this was helpful as you look to take your MRR to the next level.
If you want a convenient way to write about your SaaS (and generate more leads in the process!), start writing on Typeshare:
typeshare.co
And if you found these frameworks valuable, I'd appreciate if you jumped back up to the top tweet to
• Retweet it
• Bookmark it
• Hit reply with your biggest takeaway
Then, follow me @dickiebush for more threads on digital writing & digital business:
• Retweet it
• Bookmark it
• Hit reply with your biggest takeaway
Then, follow me @dickiebush for more threads on digital writing & digital business:
