first a big thanks to all the valuable input I got more this forum during the past!
Today I really need some advice on how to move froward with my saas since I got a couple of questions in my head that every bootstrapper might come across: Am I sill motivated? Am I investing my time right? Is the product still vaild? Should I move on to the next idea?
Maybe some of your feedback might bering me back on track…at least i hope so =)
Currently I am have a simple saas product online which i managed to grow to 1k MRR over the last 1,5 years, not much but a nice for a first saas try. Some facts for your jugement:
Product: Amazon Landing Page Builder
Pricing: 20 / Monthly, Free Trail
Homepage: 900 monthly visitors
Trail Signup CR: 4%
Trail to Subscription: 15%
But somehow it feels like an uphill battle and thanks to Stripes Analytics I can clearly see that the 20% churn is causing the trouble. This also comes down to that nature of the product because these landing pages are just used once a new product is released. Hence the user signs up, uses the service and cancels after launch. On top of that I see some competitors improving making it hard to catch up. Although they might have the same problems in the background.
So the whole situation feels kind of demotivating and I am not sure anymore if the product itself has a long term potential.
Over time I slowly drifted to the idea of creating a new product that will partly cater the same audience but is much more hooked into the sales funnel and also will have a higher price point. It feel a bit more mature than to current product but also has more potential. Of course that means I have to start over again with customer development and also building up the marketing, seo etc which I already did in parts for the LP builder.
Well thats my kind of dilemma… stick to the old product and invest even more time into it or start something more promising.
Maybe it is not even about starting something new, maybe the question is: When should I stop working on a product?
Hope your feedback, experience or advice will help to clear my mind!
Thanks for you time!