Revealing Everything About My 2 $500/Month SaaS Side Hustles (Marketing, Tech Stack, Costs, etc.)

Summary

This video offers an in-depth look at two subscription-based SAS apps, Nexus Research and Perfect Interview, generating $500 a month each. The creator reveals his strategies for growth, including leveraging social media platforms like Instagram, TikTok, and YouTube. He discusses monetization, showing real Stripe revenue numbers, user counts, and retention rates. The video also dives into technical stacks, analytics, and cost considerations. The creator shares insights on pricing strategies, such as offering weekly subscription plans to increase conversions. He concludes by outlining his future plans to focus on a third product, deeming the current apps successful yet niche, and hints at the challenges and opportunities in scaling SAS businesses.

Takeaways

• 🚀 The creator has developed two SAS apps generating $500 a month each in recurring revenue.
• 💡 The apps are 'Nexus Research', an AI-powered reading and note-taking tool, and 'Perfect Interview', an AI-powered mock interviewing tool.
• 🤖 Both apps utilize AI for their core functionality, with 'Nexus Research' allowing users to chat with uploaded PDFs and 'Perfect Interview' generating interview questions from job descriptions.
• 📈 The creator openly admits to taking inspiration from existing successful ideas in the market, emphasizing the importance of market validation for new products.
• 💼 'Nexus Research' operates on a subscription model, while 'Perfect Interview' primarily uses a one-time purchase model, which was found to have a higher conversion rate.
• 📊 Analytics show that both apps have a high drop-off in user retention after the first week, indicating that they are more suited to short-term, task-oriented use rather than long-term subscriptions.
• 💰 The creator details the costs associated with running the apps, including AI services, database hosting, and platform hosting, which are relatively low compared to the revenue generated.
• 📱 Social media marketing was the primary growth strategy for both apps, with different video series on platforms like Instagram, TikTok, and YouTube driving user engagement and conversions.
• 🔑 The creator highlights the importance of tracking and analyzing metrics to make informed decisions about product development and pricing strategies.
• 🛑 The creator plans to let both apps 'coast' as they are, without significant further development, due to the crowded market and the desire to focus on a new product idea with higher potential.
• 🔑 The creator emphasizes the importance of founder-product fit and excitement in choosing which projects to pursue, indicating a shift in focus to a new product that aligns better with their interests.

Q & A

What are the two SAS apps mentioned in the video?

The two SAS apps mentioned are Nexus Research and Perfect Interview AI.

What is the primary function of Nexus Research?

Nexus Research is an AI-powered reading and note-taking tool that allows users to upload a PDF and chat with it to extract information.

How does the user interact with Nexus Research to extract information?

Users can interact with Nexus Research by asking questions to the uploaded PDFs, and the tool will help extract the relevant information.

What is the unique feature of Nexus Research that allows it to stand out from similar products?

Nexus Research's unique feature is the ability to chat with multiple papers at once, extracting information from several documents simultaneously.

What is the current monthly recurring revenue for Nexus Research?

The current monthly recurring revenue for Nexus Research is around $450.

How long has it been since the creator last updated Nexus Research?

It has been around 70 days since the creator last updated Nexus Research.

What is the main method used to grow Nexus Research's user base?

The main method used to grow Nexus Research's user base is social media marketing, specifically through Instagram, TikTok, and YouTube shorts.

What type of subscription plans does Nexus Research offer?

Nexus Research offers weekly, monthly, and yearly subscription plans.

What is the primary function of Perfect Interview AI?

Perfect Interview AI is an AI-powered mock interviewing tool that generates unlimited practice interview questions based on a job description.

What type of purchase model does Perfect Interview AI use?

Perfect Interview AI uses a one-time purchase model where users pay for each job description they upload for interview preparation.

What is the revenue strategy for Perfect Interview AI?

The revenue strategy for Perfect Interview AI is based on one-time purchases, where users pay a fee for each job description they upload to generate interview questions.

How does the creator plan to grow Perfect Interview AI's user base?

The creator plans to grow Perfect Interview AI's user base through social media marketing, leveraging platforms like Instagram, TikTok, and YouTube.

What are the main costs associated with running Perfect Interview AI?

The main costs associated with running Perfect Interview AI are the AI provider (Open AI), the database provider (Planet Scale), and hosting costs on Vercel.

What is the current monthly revenue for Perfect Interview AI?

The current monthly revenue for Perfect Interview AI is around $500.

What future plans does the creator have for Nexus Research and Perfect Interview AI?

The creator plans to let both products coast, generating passive income, while shifting focus to a third product idea with higher potential.

Why does the creator believe that one-time purchases might be a better option for some SAS products?

The creator believes that one-time purchases might be a better option for some SAS products because it can lead to higher conversion rates and is more suitable for products that are used for short-term needs, like Perfect Interview AI.

What is the creator's view on the pricing strategy for their products?

The creator feels that the pricing for their products is quite cheap, making it difficult to make a substantial amount of money without a high volume of sales. They are considering a shift towards higher-value products.

What is the creator's strategy for maintaining and growing the revenue of Nexus Research and Perfect Interview AI?

The creator's strategy involves primarily social media marketing to maintain and grow the revenue. They have not actively pursued other marketing strategies but are open to exploring them.

How does the creator use analytics to inform decisions about their products?

The creator uses analytics to track user engagement, retention, and other important metrics. This data helps them make informed decisions about product features, pricing, and marketing strategies.