The goal was $1000 in sales, calculated to be achievable by selling the $50 product to 20 people, but it ultimately resulted in only 4 sales and $236 in revenue.
Link to this point #1Tom Gregory
My failed SaaS story
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Overview
This video shares Tom Gregory's experience of launching the SaaS product 'DevLaunchPad' but failing to achieve his goal of $1000. Despite various attempts, including approaching a waitlist and a large email list, and improving the landing page, he reached over 4500 people but only made 4 sales ($236). He shares his determination to apply three lessons learned from this failure (solving others' problems, acquiring customers in advance, and getting landing page feedback) to his next project.
Key points
Although there were 74 people on the waitlist and over 4000 on an existing email list, only one sale was made by the morning after the launch.
Link to this point #2Links were shared in over 40 YouTube videos, driving 3600 people to the landing page, but the conversion rate remained at just 0.1%.
Link to this point #3The likely cause of failure was not traffic or the landing page, but rather that the product itself was not solving a problem for others.
Link to this point #4Next time, I should solve problems that others have, not my own, and validate that at least three people have the problem before writing any code.
Link to this point #5Since the actual waitlist conversion rate was 1.5% instead of the assumed 10%, customers should be acquired with actual payments in advance.
Link to this point #6The landing page is a crucial place to convey product value, so others should be asked to review it or assist in its creation, and paid if necessary.
Link to this point #7Each launch should be viewed as a small experiment; by improving 1% with each failure, success will inevitably come by increasing the number of attempts.
Link to this point #8Put this knowledge to work.
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