Introduction:
I loved consuming SaaS content, but at one point, i realized it wont lead me to anywhere. That's when i realized i need to start "producing or building" instead of "consuming". I always loved SaaS, but having no coding background meant i can't develop one myself (Being a PM at a tech company helped tremendously though). Left with only two choices, either to outsource development of an idea, or acquire a SaaS from acquire.com. To me, acquiring was easier, meant you can pick an already validated product, and shortcut the development.
Choosing a SaaS to acquire:
My goal was to pick a product that was a painkiller not a vitamin. A product that the customer will get their ROI on it. While searching, many products were highly valued for no reason (no customers, no mrr, and 3 weeks old..cmon?), so it wasn't that easy to find a great product. Until i found a product that solved a real problem facing every SaaS... Churn π₯.
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The acquisition:
I found Cancelo.io , and was very interested in it. I spoke to the founders to understand more about the product, their current customers, and how they marketed it. What really attracted me to the product was the high customers retention rate, and the marketing opportunities out there! Fast forward, we closed the deal π€.
Post-acquisiton:
I expected cancelo.io to be up and running in no time after the acquisition, but it wasn't that smooth initially, as i encountered many roadblocks post acquisition that i didn't account for. I interviewed many devs, but it wasnt easy to find a good one, especially since you are on a tight budget. You want a dev that have a great experience, and more importantly is great at communication! However, after a dozen of interviews, i founded a really great dev.
It took more than expected, for Cancelo.io to be ready, we kept testing and further developing the product together until we are finally able to launch π.
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What the product does:
The product helps you understand your churn and also reduce it, ultimately increasing your $MRR. It does so via cancelation flows, and by showing you analytics on the reason customers churned. The cancelation flows can be also customized to offer discounts when the cancelation reason is high price, or by offering to extend trial, in case the customers wanted a longer trial period. Basically customized the way you want.
PS: You wont need cancelo.io if your $MRR is low, but if your $MRR is higher than $7K you are guaranteed to get back your ROI with it.
Try it now: www.cancelo.io
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Very keen on hearing your suggestions!
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