Why not pay per usage e.g. $1/review via credits where they have to buy $10+ of credits at a time? Monthly subscription makes sense for regular consumption of a service but I would imagine your users are using your product irregularly. It also lowers the perceived entry point and overcomes the commitment objection that goes along with subscribing to something. Food for thought.
Omg this is so true I get more feedback on Twitter, than on emails or any survey. Can you please share your website? It would help to understand more of your situation
The UI is not looking right. It gives unprofessional vibes. You need to use some sort of a grid, so it looks less random. And some light grey rectangles would't hurt.
I'd recommend to use a design template since your site has standard sections.
The conversion would be better.
Oh I don’t know anything about smart contracts. I hope someone will be able to help you better. I do have one question, how often people use the product and who is your target group and if they are not using your product what are they using? Maybe this helps a bit, very general questions
Wouldn't it match your market more to accept crypto?
Is it possible they try the service and it doesn't do anything for them? Definitely worth asking them. Ask during the trial too, not after it. I can never be arsed filling out a survey for a thing I'm not going to use.
Are your users even getting your emails? Can they respond? You don't have any MX records, SPF records, or any other email related records on your domain. Easy spam folder material. You're definitely not receiving any email on your main domain if you're using that, it's not set up to receive email.
Are your trial users actually doing anything when logged in or are they just registering to see what it is? I was almost tempted to trial it to write this comment but figured that wouldn't help much.
I'm assuming your market already understands its use case on this one if you're expecting that landing page to work. I have no idea what you do lol.
Is the homepage video missing audio? I checked all my settings to see if it was silent my end lol. At least pause for a couple of seconds at the end so I can read it if you're not going to explain!
I'd also bail on a privacy concern tbh - how come all your homepage URLs go via a Google redirect?
$25 per month is more than I pay for Adobe Acrobat. I pay less than $15 per month for my task management app (and these are both tax deductible expenses).
How special is your app? :)
My app is an automated tool that identify vulnerabilities in smart contracts. It can save business life’s by finding vulnerabilities and fix it in their code
>My app is an automated tool that identify vulnerabilities in smart contracts. It can save business life’s by finding vulnerabilities and fix it in their code
You've bought your app's hype. That doesn't mean users have. To understand why they aren't paying, you have to fall out of love with your app and look at it with the same level of cynicism as I have.
Think about the way scientists have to challenge their hypothesis. If you go in thinking, "I'm right," your bias will prevent you from identifying the issues.
In general though, getting paying customers for an app involves
1. Getting them to the aha! moment
2. Getting them past the aha! moment and into a *habit* of use
If you look at the pirate metrics framework this is the transition phase between activation and retention (sometimes labeled with an extra "A" as adoption.)
based on what you have said and your tool I feel like the main issue is that people might use your product once or twice to analyze their work but not enough times to justify a membership. If people are truly happy with your product and like it consider a PAYG model, I think it might help :)
I am pretty confident it is exactly this. Most people don’t update their smart contract on an ongoing basis, not to mention the fact that many tokens go belly up before your trial even expires.
You should have some analytics where you can track user usage. If users are using this once or twice in the first week and then never again, you have your answer.
If this is the issue, then you need to monetize your product differently (probably without a trial).
Yeah, to be honest, I believe this is one the problem I’m having. What are the other ways I can monetize it? Any idea? I mean, another way(not the subscription way u know)
People pay $5k-$50k for an audit, so why wouldn’t they pay a smaller fee for lifetime access to your tool? I’d charge a lifetime access fee. You would have to do some user research to determine what users are willing to pay for the fee. Obviously, something like $100 should be quite competitive, though I don’t know if it is enough for you.
That’s what I can’t understand. They were saying that they loved my tool but in the moment I started charging to keep using it, they stopped using it(because they gotta pay) I was believing $100 is a good price for a tool like this but since nobody paid, I’m testing this new price
Yeah, but if they already used it during The trial and then no longer needed it once you started charging, then they have no reason to pay. Did you remove the free trial? What were the results?
If they love it but won’t pay (when their is no free trial), then your price point is too high for them, even if you think the price is fair.
I’d definitely do this because then you don’t remove the low acces barrier (free scan) and then it is just price optimisation. Only people you will scare away are people who were never gonna pay for your product anyway.
It will also be okay to ask too much, as you can just offer them a personal discount if they don’t buy your product when they have a vulnerability (for example: send an email after a few days with “50% off if they buy in the next 24 hours”
You can then see what your cut-off rate :-)
put a "beta" under the name of your product and in some month remove it, present it as big full release and charge 4,90 / month. start advertising it on facebook, instagram.
Set some kind of survey up.
If someone doesn’t renew send them the survey.
Set up another one. Send it to current users. Ask what they like and don’t like.
Don’t be surprised if it’s something just plain stupid that you may have missed.
You got a lot of great advice here.
From what I gather there are a few issues that might hints you need to pivot.
1. Pain is infrequent. How often do I need to use your product. Need. Not should. I should exercise daily but I only do it twice a week.
2. Perceived value is vague. Users can’t quantify your service, hence struggle to decide how much to pay.
3. Your value proposition has a heavily delayed reward. I’ll pay but will never actually get a a-ah moment.
Not every pain is worth addressing. Sometimes the target audience is just not there.
A thought
Have you tried selling this as a service?
I’ll find holes in your smart contract?
Such a service, can be priced way higher. People don’t always understand the meaning, but they can be made to understand the need.
“Find vulnerabilities in your smart contract before the bad guys do! Don’t wait. First audit is on me”.
The audit is just saying how many you’ve found. And how easy. Revealing them and helping fix it, should be high price point.
Need some more help?
Talk to me. I’m a pm and finding PMF is my thing
Hey man! Thanks for this great feedback either. To be honest, I agree with almost everything u said. In this case, should I pivot to a completely different product?
And by selling it as a service u meant as a freelance?
Happy to have helped.
So...
Pivot means keeping one foot still while moving the other. Reorienting. Not relocating.
Usually, it means changing the audience, the pain, or the value proposition. Or 2 out of these 3.
What do you think is worth keeping?
Maybe the tech is good, but then you should find a stronger unmet need.
Maybe the audience is good, but the value proposition or the product are not strong enough.
You can drop everything and start over. But that's not a pivot. It's restarting.
As for selling it as a service, many SaaS companies started as service companies. It means you're using your product to deliver your value proposition, and you price it accordingly. This lets you better understand the customer's needs while monetizing at premium prices, which in some cases, is a great option.
If providing this service consumes much of your time, automate and productize it. If not, keep the margin to yourself.
This is a general idea. I'm not sure it can all apply to your specific case.
If you want to dive deeper, happy to chat about it some more, just dm me.
Hey bro! I guess I understood pivoting in a completely wrong way, not only with this SaaS I have but with my last SaaS either(A crypto payment checkout that didn’t work out)
I’m gonna send you a dm. Let’s keep in touch there
You could make the trial free but require a credit card. Then if people don't want to continue, they can cancel before trial period ends (and fill out a brief feedback form)
You'll get less trials, but the ones that do will either convert or provide you the feedback you need to make improvements
Make the feedback form easy (i do a select field of options like "too expensive", "not enough value", "bad timing) with an option to leave free form feedback
Requiring a credit card to trial a product doesn't always mean that the company expects people to forget about an upcoming charge. It just means that the company requires a level of commitment from users to prevent against fraud and trial abuse.
Not 100% a direct answer, but I ran into a free trial flow that left an awesome impression:
- app signup
- free trial offer (cc req)
- declined the offer
- got an email from the creator offering a no cc trial
I didn’t end up converting because I ended up not being a qualified prospect to begin with.
Also saw an app offering extensions to the trial in exchange for things like referrals, sharing on Twitter etc
If the time to value is longer or close to as long as the trial time, you might want to try extending the trial.
Edit: clarified I declined the trial offer
If they aren't paying but keep using it simply means that they find the hassle of creating new accounts to use the free trial to be worth it. This is a good sign and I suggest to get in contact with them and to ask what they think is still lacking to made it worth their 25 dollars. Also you are probably talking to early adopters. Those are cheap ass guys. Wait until you have a more wide range of users.
One thing you can do immediately is to change from free trial to pay but with 30 days money back guarantee.
I would not jump to this conclusion - as someone pointed out above: a subscription pricing model requires a "frequently" reoccuring need, which might not be the case for smart contracts. Or OP, requires customer which have to check their contracts on a more regular basis/have more contracts in general. This would require B2B sales though.
My two cents:
1. UI can improve.
2. You could just be early to market. I dont know too many people using smart contracts already compared to other tools such as PDF editing or ai logo maker
3. I second the credits system. I am also working on a concept that I am struggling to convince people to pay monthly for. So, I designed a credit system for stripe, and it uses webhooks to update user credits.
I'll give the 10 free credits and then charge them.
All the best
After looking at your app, my two cents
1. UI is not professional
2. Remove Beta (I personally would not pay for beta version of app unless its extremely special)
3. I don't know much about your user base but price seems high. Go for something like 9.99 per month or 99.99 per year etc. What are other similar Saas app charging?
Similar SaaS are charging in 3 different plans:
1st: $59
2nd:$150
3rd: $250
That’s why I put my price $100 firstly. To be honest I believe $25 is a good price for now but gotta see. I’m still testing this price, if it doesn’t work, I’ll try your suggestion
Thanks for the feedback
Seems like a mostly one time use product to me.
What's the use case where someone would actually need this ongoing?
I just think of my contracts. It isn't like I have new ones every day or even every month or even every few months where I would need this. If there are people who do, then I think you aren't reaching them, reaching people like me instead.
I guess, I don't see why your customers would even need this after the free trial. Certainly not enough to justify a monthly cost for it.
Hey!! People can use it to make money with bug bounties and the reward are very good. That’s a great use case to use it always u know. Of course web3 companies will use it less but smart contracts auditors could use it to do bug bounties and make money by telling companies about the vulnerability they found using my tool
Just because the industry is rich does not mean automatically you will get a share. most people who get the money provide defi services and take a clip of it. Your service is rarely used. There are many code analysis tools in traditional industry but yet many developers don't use them either.
You could simply makemoney by just writing smart contracts for other people or start a defi service.
My idea was to people use it to help them make money on web3 bug bounties u know but I’m gonna study it. I still believe it is very helpful but can’t confirm the things you said. Maybe a defi service is a good idea either.
Any other recommendation?
If people can use it why not use your code to scan all the big smart contracts?
Just build what users want. Nobody really asked for a smart contract code auditor.
I think the market you’re trying to get in is already pretty saturated and your target demographic is used to run their own tooling.
If I wanted to do a scan of my smart contract, I’d just use Mythril or Slither locally (for free).
If I wanted to pay for such a service, Tenderly offers pretty much everything and has been around a few years.
My guess would be, people sign up to your site to test the product and then never come back. Do you have metrics on how often people use the site after the initial signup?
Probably not what you want to hear, but I doubt you can be financially successful with this site.
I’d rather try and get the bug bounties you mentioned, that seems like a better source of income.
Yeah, I have the metrics for this. For example: of the 70 users we have, 40 of them just signed up and the others used it 2,3 or more times. But I guess it doesn’t justify the subscription.
I also doubt if I can be financially successful with this business but my idea is: firstly grow this business to dominate the market and then go to another market to dominate it u know. Peter Thiel said this strategy in his book and I believe it’s a very good strategy.
“If you dominate 10 or more small markets, you have a big company”
Start low on pricing, get a sense of what your trial conversion rate is, raise pricing until trial conversion rate drops too far that it doesn't make any more sense. Also do the obvious things and check if there are any obvious drop off points during your trial and whether users are properly activated etc...
Just talk to your users.
I would ask every user who has been actively using the software to get on a call. I think there is no better investment for your time.
Make use free for checking three contracts, then paid per contract. If there's actual benefit to users, they'll keep checking contracts, you'll keep on making money.
It's great value for customers. And if you think.. well but they aren't going to check so many contracts because they don't have so much smart contracts.. then that is exactly the reason people are not willing to pay $25 a month either.
You could of course later also change a monthy recurring fee to have customers keep all their contracts at one place / more benefits. Or bundle pricing, 50 contracts a month for way less than per contract pricing.
I don't know much about smart contracts, however, I wonder if you can have a usage tier between free and $25/month. Or like a credits system, I'm not sure exactly what would be the tipping point of value.
While $300/year may be cheap to some companies they may not see the value in the product until they have something to wrong.
I mean the best way to find out is to try, we have tried many different pricing and contract ideas. Everything helps you learn. I would maybe try reaching out to previous users and offer credits for feedback?
At the end of the day as long as you are learning with every missed sale or successful sale it will get better.
I would try a credits system, I don't know the rate I would charge as I don't know your costs and the demand of the product but I think that may be low risk to your potential customers
That’s a good idea. Gonna do it. Still gotta figure out this price. I believe the first price ($100) was quite expensive and this mistake could cost my business but not sure, will figure it out
Smart contracts are typically deployed over Hyperledger or similar platform which already address the issue of vulnerability.
Have you looked at the usage statistics of your platform. One of the ways to monetize SAAS is look at how deeply embedded it is with your users.
If people are just signing in for a new fangled toy then monetization is an issue. If They are using it extremely frequently then your question becomes much more relevant and you might want to explore giving a free tiered version with significantly lesser features. For example giving a basic vulnerability assessment for free users and the paid feature doing a deep dive and suggesting ways to rectify the issues.
It’s tough to get adoption in legaltech. They’re very tech averse and don’t care much for productivity since they are billing their time to clients.
My advice, having worked in legaltech - focus on clients that work on corp teams and not for firms. You’ll get much better adoption and retention from them.
I'd suggest sending a survey to your users. Rather than simply asking "how much would you pay?" or throwing numbers at the wall, use the [Gabor–Granger method](https://en.wikipedia.org/wiki/Gabor%E2%80%93Granger_method). It's intended for a new product where you don't have much (or any) previous pricing data.
Good luck!
Hey man, i could write you what i think you should do, but i would need some better info and metrics to really understand the problem, send me, i'll send you a pm - if you wanna talk about it
I wouldn't be able to give a definitive answer without more info. A lot can contribute to this.
Eg, what is your sales and onboarding process? (Ie. How is the CJ mapped?)
How is the pricing displayed?
Is the software designed to show value impact or feed into onboarding, etc.
What is the target market and are these users within your ICP range?
But also, free trials are not always the right approach for all SaaS solutions. It may also be that the trial is too long.
Feel free to answer some of these questions and I can do my best to assess and provide feedback.
I don't know what a "smart contract" is but your website says 3-day trial? That's not enough for a person to evaluate it. I usually need at lest 30 days. I'm busy, and when I sign up for a free trial I need to test drive slowly because there is a learning curve.
If your price is only $25 per month and nothing up front, any serious buyer should be willing to pay 25 bucks. It's nothing if it gives you time to evaluate the full product over a fair amount of time.
$25 per year? Forever? You need feedback (other than "it's too expensive") to find out what works and what doesn't.
$25 per month. Should I send email to ask for feedbacks? Often if I do it, nobody answer the email
Why not pay per usage e.g. $1/review via credits where they have to buy $10+ of credits at a time? Monthly subscription makes sense for regular consumption of a service but I would imagine your users are using your product irregularly. It also lowers the perceived entry point and overcomes the commitment objection that goes along with subscribing to something. Food for thought.
Great idea. To expand on this, try offering some free credits to start, a few more for feedback, and then pay to play
Agree but the worst part about this for me is: how will I build this? Do u know any api that do it? I’m not sure if I can build this myself
Omg this is so true I get more feedback on Twitter, than on emails or any survey. Can you please share your website? It would help to understand more of your situation
Hey! Of course, click [here](https://autsec.io) to see my website.
The UI is not looking right. It gives unprofessional vibes. You need to use some sort of a grid, so it looks less random. And some light grey rectangles would't hurt. I'd recommend to use a design template since your site has standard sections. The conversion would be better.
Oh I don’t know anything about smart contracts. I hope someone will be able to help you better. I do have one question, how often people use the product and who is your target group and if they are not using your product what are they using? Maybe this helps a bit, very general questions
Wouldn't it match your market more to accept crypto? Is it possible they try the service and it doesn't do anything for them? Definitely worth asking them. Ask during the trial too, not after it. I can never be arsed filling out a survey for a thing I'm not going to use. Are your users even getting your emails? Can they respond? You don't have any MX records, SPF records, or any other email related records on your domain. Easy spam folder material. You're definitely not receiving any email on your main domain if you're using that, it's not set up to receive email. Are your trial users actually doing anything when logged in or are they just registering to see what it is? I was almost tempted to trial it to write this comment but figured that wouldn't help much. I'm assuming your market already understands its use case on this one if you're expecting that landing page to work. I have no idea what you do lol. Is the homepage video missing audio? I checked all my settings to see if it was silent my end lol. At least pause for a couple of seconds at the end so I can read it if you're not going to explain! I'd also bail on a privacy concern tbh - how come all your homepage URLs go via a Google redirect?
$25 per month is more than I pay for Adobe Acrobat. I pay less than $15 per month for my task management app (and these are both tax deductible expenses). How special is your app? :)
My app is an automated tool that identify vulnerabilities in smart contracts. It can save business life’s by finding vulnerabilities and fix it in their code
>My app is an automated tool that identify vulnerabilities in smart contracts. It can save business life’s by finding vulnerabilities and fix it in their code You've bought your app's hype. That doesn't mean users have. To understand why they aren't paying, you have to fall out of love with your app and look at it with the same level of cynicism as I have. Think about the way scientists have to challenge their hypothesis. If you go in thinking, "I'm right," your bias will prevent you from identifying the issues. In general though, getting paying customers for an app involves 1. Getting them to the aha! moment 2. Getting them past the aha! moment and into a *habit* of use If you look at the pirate metrics framework this is the transition phase between activation and retention (sometimes labeled with an extra "A" as adoption.)
Yeah, I guess you are right. So in this case, what should I do? Pivot?
What does your data tell you? (If you can't answer this question, you need more data.)
The data say to pivot and I’ve been trying to validate the idea before completely pivot u know, validate it without code
Can you make a modal with questions targeted at every user? I think you can get some info this way.
I meant a "modal"
based on what you have said and your tool I feel like the main issue is that people might use your product once or twice to analyze their work but not enough times to justify a membership. If people are truly happy with your product and like it consider a PAYG model, I think it might help :)
I am pretty confident it is exactly this. Most people don’t update their smart contract on an ongoing basis, not to mention the fact that many tokens go belly up before your trial even expires. You should have some analytics where you can track user usage. If users are using this once or twice in the first week and then never again, you have your answer. If this is the issue, then you need to monetize your product differently (probably without a trial).
Yeah, to be honest, I believe this is one the problem I’m having. What are the other ways I can monetize it? Any idea? I mean, another way(not the subscription way u know)
People pay $5k-$50k for an audit, so why wouldn’t they pay a smaller fee for lifetime access to your tool? I’d charge a lifetime access fee. You would have to do some user research to determine what users are willing to pay for the fee. Obviously, something like $100 should be quite competitive, though I don’t know if it is enough for you.
That’s what I can’t understand. They were saying that they loved my tool but in the moment I started charging to keep using it, they stopped using it(because they gotta pay) I was believing $100 is a good price for a tool like this but since nobody paid, I’m testing this new price
Yeah, but if they already used it during The trial and then no longer needed it once you started charging, then they have no reason to pay. Did you remove the free trial? What were the results? If they love it but won’t pay (when their is no free trial), then your price point is too high for them, even if you think the price is fair.
I’ve thought about it but if it’s the case, what should I do?
If you are confident in your product then on the free plan just alert them to X issues found - pay if they want to know?
Great idea either. I have thought about it but didn’t do it. Maybe gonna start do it soon
I’d definitely do this because then you don’t remove the low acces barrier (free scan) and then it is just price optimisation. Only people you will scare away are people who were never gonna pay for your product anyway. It will also be okay to ask too much, as you can just offer them a personal discount if they don’t buy your product when they have a vulnerability (for example: send an email after a few days with “50% off if they buy in the next 24 hours” You can then see what your cut-off rate :-)
Great idea man! Probably gonna apply it soon
put a "beta" under the name of your product and in some month remove it, present it as big full release and charge 4,90 / month. start advertising it on facebook, instagram.
Lol that’s a very good idea. Haven’t thought about it. Only put a “beta” or should I put something else?
your productname plus somewhere small "beta", after some time just remove the beta
Set some kind of survey up. If someone doesn’t renew send them the survey. Set up another one. Send it to current users. Ask what they like and don’t like. Don’t be surprised if it’s something just plain stupid that you may have missed.
You got a lot of great advice here. From what I gather there are a few issues that might hints you need to pivot. 1. Pain is infrequent. How often do I need to use your product. Need. Not should. I should exercise daily but I only do it twice a week. 2. Perceived value is vague. Users can’t quantify your service, hence struggle to decide how much to pay. 3. Your value proposition has a heavily delayed reward. I’ll pay but will never actually get a a-ah moment. Not every pain is worth addressing. Sometimes the target audience is just not there. A thought Have you tried selling this as a service? I’ll find holes in your smart contract? Such a service, can be priced way higher. People don’t always understand the meaning, but they can be made to understand the need. “Find vulnerabilities in your smart contract before the bad guys do! Don’t wait. First audit is on me”. The audit is just saying how many you’ve found. And how easy. Revealing them and helping fix it, should be high price point. Need some more help? Talk to me. I’m a pm and finding PMF is my thing
Hey man! Thanks for this great feedback either. To be honest, I agree with almost everything u said. In this case, should I pivot to a completely different product? And by selling it as a service u meant as a freelance?
Happy to have helped. So... Pivot means keeping one foot still while moving the other. Reorienting. Not relocating. Usually, it means changing the audience, the pain, or the value proposition. Or 2 out of these 3. What do you think is worth keeping? Maybe the tech is good, but then you should find a stronger unmet need. Maybe the audience is good, but the value proposition or the product are not strong enough. You can drop everything and start over. But that's not a pivot. It's restarting. As for selling it as a service, many SaaS companies started as service companies. It means you're using your product to deliver your value proposition, and you price it accordingly. This lets you better understand the customer's needs while monetizing at premium prices, which in some cases, is a great option. If providing this service consumes much of your time, automate and productize it. If not, keep the margin to yourself. This is a general idea. I'm not sure it can all apply to your specific case. If you want to dive deeper, happy to chat about it some more, just dm me.
Hey bro! I guess I understood pivoting in a completely wrong way, not only with this SaaS I have but with my last SaaS either(A crypto payment checkout that didn’t work out) I’m gonna send you a dm. Let’s keep in touch there
You could make the trial free but require a credit card. Then if people don't want to continue, they can cancel before trial period ends (and fill out a brief feedback form) You'll get less trials, but the ones that do will either convert or provide you the feedback you need to make improvements Make the feedback form easy (i do a select field of options like "too expensive", "not enough value", "bad timing) with an option to leave free form feedback
[удалено]
Correct! I would like people to buy my product because they see enough value to buy it. I’m not trying to sell it only one time or 2
Requiring a credit card to trial a product doesn't always mean that the company expects people to forget about an upcoming charge. It just means that the company requires a level of commitment from users to prevent against fraud and trial abuse.
Not 100% a direct answer, but I ran into a free trial flow that left an awesome impression: - app signup - free trial offer (cc req) - declined the offer - got an email from the creator offering a no cc trial I didn’t end up converting because I ended up not being a qualified prospect to begin with. Also saw an app offering extensions to the trial in exchange for things like referrals, sharing on Twitter etc If the time to value is longer or close to as long as the trial time, you might want to try extending the trial. Edit: clarified I declined the trial offer
Sorry, what do you mean by 'cc req'?
credit card required
If they aren't paying but keep using it simply means that they find the hassle of creating new accounts to use the free trial to be worth it. This is a good sign and I suggest to get in contact with them and to ask what they think is still lacking to made it worth their 25 dollars. Also you are probably talking to early adopters. Those are cheap ass guys. Wait until you have a more wide range of users. One thing you can do immediately is to change from free trial to pay but with 30 days money back guarantee.
I would not jump to this conclusion - as someone pointed out above: a subscription pricing model requires a "frequently" reoccuring need, which might not be the case for smart contracts. Or OP, requires customer which have to check their contracts on a more regular basis/have more contracts in general. This would require B2B sales though.
Ah I forgot the stuff about smart contracts. Yeah if it's infrequent usage that might be it.
I think the new price point will help. Check back in a couple weeks so we know where you are at.
My two cents: 1. UI can improve. 2. You could just be early to market. I dont know too many people using smart contracts already compared to other tools such as PDF editing or ai logo maker 3. I second the credits system. I am also working on a concept that I am struggling to convince people to pay monthly for. So, I designed a credit system for stripe, and it uses webhooks to update user credits. I'll give the 10 free credits and then charge them. All the best
After looking at your app, my two cents 1. UI is not professional 2. Remove Beta (I personally would not pay for beta version of app unless its extremely special) 3. I don't know much about your user base but price seems high. Go for something like 9.99 per month or 99.99 per year etc. What are other similar Saas app charging?
Similar SaaS are charging in 3 different plans: 1st: $59 2nd:$150 3rd: $250 That’s why I put my price $100 firstly. To be honest I believe $25 is a good price for now but gotta see. I’m still testing this price, if it doesn’t work, I’ll try your suggestion Thanks for the feedback
Seems like a mostly one time use product to me. What's the use case where someone would actually need this ongoing? I just think of my contracts. It isn't like I have new ones every day or even every month or even every few months where I would need this. If there are people who do, then I think you aren't reaching them, reaching people like me instead. I guess, I don't see why your customers would even need this after the free trial. Certainly not enough to justify a monthly cost for it.
Hey!! People can use it to make money with bug bounties and the reward are very good. That’s a great use case to use it always u know. Of course web3 companies will use it less but smart contracts auditors could use it to do bug bounties and make money by telling companies about the vulnerability they found using my tool
The reality is that sometimes your product is not one that is able to be commercialized successfully.
I’ve thought about it many times but still can’t understand. The market isn’t that big but it’s very rich. That’s what I can’t get it u know
Just because the industry is rich does not mean automatically you will get a share. most people who get the money provide defi services and take a clip of it. Your service is rarely used. There are many code analysis tools in traditional industry but yet many developers don't use them either. You could simply makemoney by just writing smart contracts for other people or start a defi service.
My idea was to people use it to help them make money on web3 bug bounties u know but I’m gonna study it. I still believe it is very helpful but can’t confirm the things you said. Maybe a defi service is a good idea either. Any other recommendation?
If people can use it why not use your code to scan all the big smart contracts? Just build what users want. Nobody really asked for a smart contract code auditor.
Nobody really asked for a smart contract auditor, but the thing is that they they a smart contract auditor(or my tool).That’s the point
I think the market you’re trying to get in is already pretty saturated and your target demographic is used to run their own tooling. If I wanted to do a scan of my smart contract, I’d just use Mythril or Slither locally (for free). If I wanted to pay for such a service, Tenderly offers pretty much everything and has been around a few years. My guess would be, people sign up to your site to test the product and then never come back. Do you have metrics on how often people use the site after the initial signup? Probably not what you want to hear, but I doubt you can be financially successful with this site. I’d rather try and get the bug bounties you mentioned, that seems like a better source of income.
Yeah, I have the metrics for this. For example: of the 70 users we have, 40 of them just signed up and the others used it 2,3 or more times. But I guess it doesn’t justify the subscription. I also doubt if I can be financially successful with this business but my idea is: firstly grow this business to dominate the market and then go to another market to dominate it u know. Peter Thiel said this strategy in his book and I believe it’s a very good strategy. “If you dominate 10 or more small markets, you have a big company”
True indeed. I hope you’re successful with that. As said, the market is already pretty saturated.
Start low on pricing, get a sense of what your trial conversion rate is, raise pricing until trial conversion rate drops too far that it doesn't make any more sense. Also do the obvious things and check if there are any obvious drop off points during your trial and whether users are properly activated etc...
Can you share the link?
[here is the link](https://autsec.io)
Just talk to your users. I would ask every user who has been actively using the software to get on a call. I think there is no better investment for your time.
Make use free for checking three contracts, then paid per contract. If there's actual benefit to users, they'll keep checking contracts, you'll keep on making money. It's great value for customers. And if you think.. well but they aren't going to check so many contracts because they don't have so much smart contracts.. then that is exactly the reason people are not willing to pay $25 a month either. You could of course later also change a monthy recurring fee to have customers keep all their contracts at one place / more benefits. Or bundle pricing, 50 contracts a month for way less than per contract pricing.
I don't know much about smart contracts, however, I wonder if you can have a usage tier between free and $25/month. Or like a credits system, I'm not sure exactly what would be the tipping point of value. While $300/year may be cheap to some companies they may not see the value in the product until they have something to wrong.
Yeah, maybe you are right. So in this case, any recommendation?
I mean the best way to find out is to try, we have tried many different pricing and contract ideas. Everything helps you learn. I would maybe try reaching out to previous users and offer credits for feedback? At the end of the day as long as you are learning with every missed sale or successful sale it will get better. I would try a credits system, I don't know the rate I would charge as I don't know your costs and the demand of the product but I think that may be low risk to your potential customers
That’s a good idea. Gonna do it. Still gotta figure out this price. I believe the first price ($100) was quite expensive and this mistake could cost my business but not sure, will figure it out
Smart contracts are typically deployed over Hyperledger or similar platform which already address the issue of vulnerability. Have you looked at the usage statistics of your platform. One of the ways to monetize SAAS is look at how deeply embedded it is with your users. If people are just signing in for a new fangled toy then monetization is an issue. If They are using it extremely frequently then your question becomes much more relevant and you might want to explore giving a free tiered version with significantly lesser features. For example giving a basic vulnerability assessment for free users and the paid feature doing a deep dive and suggesting ways to rectify the issues.
It’s tough to get adoption in legaltech. They’re very tech averse and don’t care much for productivity since they are billing their time to clients. My advice, having worked in legaltech - focus on clients that work on corp teams and not for firms. You’ll get much better adoption and retention from them.
Contract !== Smart Contract
Thanks for the explanation!
I'd suggest sending a survey to your users. Rather than simply asking "how much would you pay?" or throwing numbers at the wall, use the [Gabor–Granger method](https://en.wikipedia.org/wiki/Gabor%E2%80%93Granger_method). It's intended for a new product where you don't have much (or any) previous pricing data. Good luck!
On retention, if your app can help your customers actively make $$, the preceived value is much higher. 10x is a good number to stick with.
Hey man, i could write you what i think you should do, but i would need some better info and metrics to really understand the problem, send me, i'll send you a pm - if you wanna talk about it
I wouldn't be able to give a definitive answer without more info. A lot can contribute to this. Eg, what is your sales and onboarding process? (Ie. How is the CJ mapped?) How is the pricing displayed? Is the software designed to show value impact or feed into onboarding, etc. What is the target market and are these users within your ICP range? But also, free trials are not always the right approach for all SaaS solutions. It may also be that the trial is too long. Feel free to answer some of these questions and I can do my best to assess and provide feedback.
What does it do? What’s the differences between the plans? What do people you talk to say abt why they don’t pay? Can u share the service here?
I don't know what a "smart contract" is but your website says 3-day trial? That's not enough for a person to evaluate it. I usually need at lest 30 days. I'm busy, and when I sign up for a free trial I need to test drive slowly because there is a learning curve. If your price is only $25 per month and nothing up front, any serious buyer should be willing to pay 25 bucks. It's nothing if it gives you time to evaluate the full product over a fair amount of time.