Just introduced paid plans in my SaaS and got the first paying customer

20 points by federiconitidi 6 years ago | 7 comments

As per the title, Today I just introduced a couple of paid options for my Saas and I just recorded the first payment, for a yearly Pro plan ($150).

The tool is in the niche of Decentralized Finance (DeFi) and allows users to calculate their returns when investing in Uniswap, a (super-interesting) protocol which is getting pretty popular within the Ethereum community. I launched it as a totally free product in June, got some initial traction, and now trying to find a model to make it sustainable and develop it further. DeFi is still very small, but with high growth potential I believe.

I’ve created so far 3 plans: Basic (free), Pro (1 ETH/year, about $150) and Large Investors (5ETH/year, about $750). They differ in terms of features as well as for the number of analysis allowed.

Wanted to share this with you. Any consideration/ pitfall to avoid when moving from free to paid?

https://www.uniswaproi.com/

eb0la 6 years ago |

Congratulations ! You've hit the market validation milestone. That's not easy.

I believe your project success is tighly coupled to DeFi success (as a platform).

In order to succeed you should help spread DeFi - make yourself and your product an authority on the subject - and prepare material easy to digest and understand.

First of all, you should know your customer. Why paid, what benefit/outcome gets from your service.

With this information, you should be able 'lower the barrier of entry' for other users.

federiconitidi 6 years ago | |

Totally agree, thanks for your insights!

textread 6 years ago |

Congratulations, would you mind sharing how many free users you had before you decided to make this transition?

federiconitidi 6 years ago | |

It's hard to say since the tool was not only free, but didn't even require signing up (see for example comproi.com, its sister-site which is still free and no-sign-up). My estimate is about 200 free users, but could be off. We'll see how many they actually sign up now (so far about 50)

matt_the_bass 6 years ago | | |

Wow! In 1 day you converted about $7500/year of customers. That’s impressive. This implies you’re already at MVP!

How long did it take you get those ~200 free plan users?

If you can repeat that every month, you’re already in “real, viable company/job” land. Perhaps you should consider spending at least a portion of your time on market rather than tech dev now.

matt_the_bass 6 years ago |

Congrats on your fist paying customer! Good luck.

federiconitidi 6 years ago | |

Thanks!!