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Looking for the Lesson Or Advice that SaaS should be able to be Explained In ONE sentence
...or something similar? I thought you said that in a lesson and was trying to rewatch or reread that post. MIght you know which post thats in @Aaron Krall ? I'm looking to see examples (as dumb as that sounds). Thanks
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For facebook ads which countries you are excluding for Lifetime deal of your saas?
Have a SaaS already? Drop it below…
And I’ll tell you if it’s a good fit for the Lifetime Ladder method and how to structure your LTD and upsells!
Have a SaaS already? Drop it below…
What a $500/day SaaS looks like (actual numbers)
Here is a screenshot of what a couple days of running an LTD looks like (share with permission). This is a simple SaaS btw. You'd be amazed at how simple of a job this product is doing - and AI is doing all the heavy lifting. Looking at yesterday (Nov 16) here are the high level details: 1. 10 customers 2. Average Order Value $63 (our goal is to get this as high as possible) 3. Total Ad Spend: $420.04 4. Total in LTD/Order Bump Sales: $638.00 5. Total Upsells: $293.94 6. Total Revenue: $931.97 7. Total Profit: $596.64 8. TOTAL ROAS: 2.22 Couple of things to note: - Our ROAS for the LTD/Order Bump was 1.5, which we don't really count on, yesterday was just a good day. Usually we try for at last 1 ROAS on the front end. - Some revenue came from subscriptions, which we count towards daily ROAS because one of our upsells is a subscription. - The Order Bump crushed it - almost $500 in just order bumps (the order bump is $99 - so that's 5 buyers - a 50% uptake on order bumps! This is a good day. Not every day is $500 profit. Two days ago daily profit was $374, so weekly average is about $300/day. If we put more into adpsend, we could easily get to $1,000 a day. We haven't increased ad spend yet because we're still testing a few things to get AOV as high as possible. Once we do, we'll add another few hundred a day to our budget.
What a $500/day SaaS looks like (actual numbers)
Why is it SO hard to grow an "innovative, new" SaaS idea?
Before you build something TOTALLY new... In 1850, the Haughtwout Dept store installed the first commercial passenger elevator, but customers refused to get in it. The store literally had to post attendants at each floor to re-assure shoppers, sometimes physically escorting them to the elevator because people thought it would fall and kill them. It took 50 years for people to feel safe enough in an elevator to ride it without attendants. And another 30 years before elevators were commonplace. We look at elevators now and don’t even question getting in em. (Unless you’ve seen “Devil” from M. Night. Shyamalan, lol). It took Slack 5-6 years to become a commonplace app - it was a totally new idea for most people. When you create something totally innovative and new, you’re not competing against other products… You’re competing against basic human psychology and survival instincts. When you launch a totally new SaaS idea, you have to overcome the following internal dialogues: 1. “If this fails, I’ll look stupid or lose something” People hate looking stupid. They’ll expend a lot of energy to NOT look stupid. They also risk losing time, data, getting no results, the product not working. 1. “This is too new - new is dangerous”. People sometimes stick with something they don’t like because the risk of trying something totally new causes even more anxiety. 2. “I’m not going to the be the first one to use this” - No social proof means they’re the guinea pigs and pioneers. Most people don’t want to be the first person to try something brand new, even if it’s better, because they don’t want to waste time, energy and effort on something that “might” work. Just to be clear, I’m VERY grateful for the visionaries who had the time, energy and grit to bring us this great technology… The thing is, I don’t want to be BE that person. When we launch SaaS, we pick a market that is already saturated. We choose a job that people are already paying to get done for them. We pick a mature market that is growing.
Why is it SO hard to grow an "innovative, new" SaaS idea?
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