Introduction to the Journey: From Idea to $25K/Month
Anish, the founder of Save Wise, turned a personal headache into a thriving business, generating $25,000 per month within just 15 months. Having worked at staple tech companies like Microsoft and Instagram, he recognized a gap in the market while dealing with the tedious process of earning credit card points and stacking coupons. His revelation was that this cumbersome method could be simplified through a platform—thus, Save Wise was born.
Initially, the journey was challenging. Anish found that while he had a working product, attracting users proved difficult. After launching on platforms like Product Hunt, Hacker News, and Indie Hackers, he experienced high traffic but an alarming 95-96% bounce rate, indicating that visitors were not engaging with Save Wise. Anish then pivoted to seek collaboration opportunities with influencers, sending out hundreds of outreach emails, yet received minimal responses, realizing that his product was not yet ready or appealing to a broader audience.
The Power of Targeted Marketing: Choosing the Right Platforms
Selecting the right marketing platforms is vital for any business’s success, and Anish’s journey with Save Wise exemplifies this principle. Initially, he explored several conventional marketing outlets like Product Hunt and Hacker News, only to discover that they were not delivering the desired engagement. Despite attracting significant traffic, the bounce rate was alarmingly high, indicating that these platforms did not resonate with his target audience. Anish learned from this experience that reaching his ideal customers required a more strategic approach, and he pivoted to focus on Reddit and Facebook groups, which proved to be far more effective.
Anish’s decision to target these platforms stemmed from a crucial insight: he needed to connect with users who would be interested in utilizing his product rather than merely building it. He directed his efforts toward subreddits focused on consumer products and communities within Facebook that revolved around travel and credit card points. This shift was pivotal, as it aligned with the habits and interests of his potential users.
Crafting the Five-Step User Acquisition Playbook
To maximize his chances of success on these platforms, Anish devised a five-step playbook for attracting early users:
- Research Keywords and Interests: Start by brainstorming keywords, interests, and demographics linked to your product. Utilize tools like the “map of Reddit” to visually explore connected subreddit communities that can help locate potential customers.
- Observe Before Engaging: When joining Reddit and Facebook groups, resist the urge to post immediately. Instead, spend time observing the discussions to understand community dynamics and identify the best approach for future interactions.
- Set Clear Posting Goals: Define what you want to achieve from your engagement in these communities—whether that’s gathering insights on customer needs, promoting product trials, or getting feedback on initial concepts. This clarity will guide the content and tone of your posts.
- Utilize Alerts for Engagement: Set up keyword alerts using tools like F5bot for topics related to your product. This allows you to monitor discussions and identify opportunities to contribute valuable insights or feedback.
- Be Helpful and Build Trust: Position yourself as a resource by providing genuine value to community members. Share tips related to your expertise—such as advice on maximizing credit card points for Anish—and gradually introduce your product as a solution, earning the trust necessary to make effective recommendations.
Step 1: Keyword Brainstorming for Targeted Communities
Keyword brainstorming is a crucial step for entrepreneurs looking to connect with their target audience effectively through online communities like Reddit and Facebook. Anish emphasizes a systematic approach to refine your approach in identifying the right terminologies and phrases that resonate with potential users.
The first step is to brainstorm a list of keywords, interests, and demographics associated with the potential users of your product. Anish suggests generating a list of 5 to 15 keywords that your target audience might use when searching for products like yours. This foundational step sets the stage for discovering the communities where these users congregate.
A valuable resource for this process is a tool Anish recommends called the map of Reddit. By inputting a relevant subreddit—like one focused on credit cards—this tool visually represents connected subreddits, allowing you to traverse through various communities. Each of these subreddits can harbor potential users and can be a gateway to understanding the broader interests related to your product.
Step 2: Observing, Learning, and Engaging Without Promoting
Once you have identified relevant communities, the next critical step is to participate actively without posting your product immediately. Anish stresses the importance of observing the conversations happening within these groups. Pay attention to the topics being discussed, the language used, and how members interact with each other. This observation will empower you with insights into crafting your messaging in a way that integrates organically into discussions, rather than coming across as overtly promotional.
Step 3: Defining Your Goals for Engagement
The third step involves defining your goals for participating in these communities. Anish suggests that you should determine what you hope to achieve by engaging with these groups before making any posts. Whether your goal is to gather feedback on your product, understand user preferences, or simply create brand awareness, having clarity on your objectives will influence how you approach your posts.
Step 4: Setting Up Alerts to Monitor Conversations
Next, using tools like F5bot, set up keyword alerts for topics related to your product or industry. This way, you will receive notifications whenever relevant discussions happen online, allowing you to stay attuned to potential questions or concerns from users, and offering opportunities for interaction that can lead to user acquisition.
Step 5: Adding Value and Building Trust
Finally, Anish underscores the importance of being genuinely helpful in your postings. Many members within these communities are looking for advice or insights but may not have the necessary knowledge. By providing help—such as sharing tips or answering questions related to your niche—you build credibility and trust. Once you’ve established a rapport, you can subtly mention your product as a solution that addresses the needs or problems being discussed.
Real-Life Examples: Community Posts That Made a Difference
Anish demonstrated the effectiveness of these strategies through specific examples. One notable instance involved posting a SQL query he created in a Facebook group focused on Rakuten, resulting in significant engagement and directing over 1,500 visits to his website. His approach on Reddit also mirrored this success; after cultivating community relationships and integrating feedback over a few months, he was able to secure a top-level post that greatly enhanced his visibility.
Business Metrics and Insights: How Save Wise is Performing Today
Now boasting approximately 1,500 paying customers and a stable monthly revenue, Anish learned critical lessons about customer preferences. Initially introducing a subscription model, he observed that customers favored a lifetime membership, which now comprises about 97% of his revenue. His experience emphasizes the significance of not only understanding what to build for the target audience but also recognizing where they spend their time online to maximize marketing efforts effectively.
Revisiting Target Customers: Lessons Learned for Future Success
Anish’s journey teaches us that community observation before promotion is vital for building meaningful connections. It is not merely about marketing; instead, it’s about understanding your audience fully, gaining their trust, and then presenting your product as a solution to their needs. This approach results in more significant engagement and sustainable growth, exemplifying how blending in and genuinely connecting with communities can lead to successful promotion and ultimately, business success.
Tools Mentioned in the Video
In the realm of user acquisition and product development, a variety of tools can significantly enhance efficiency and effectiveness. Here’s an overview of these tools and their functionalities:
- Map of Reddit: This tool is crucial for exploring and identifying potential target audiences on Reddit.
- F5 Bot: Essential for monitoring discussions online, allowing for keyword alerts related to your product.
- PostHog: A resource for tracking product analytics and user interactions.
- Retool: Facilitates building custom applications for data management.
- Clerk: Simplifies user sign-ups through multiple platforms.
- Google Analytics: A staple for understanding web traffic and optimizing marketing strategies.
Conclusion: Key Takeaways and Next Steps for Aspiring Entrepreneurs
In conclusion, Anish’s journey to building a successful business with Save Wise offers critical insights into how community engagement can accelerate growth. Incorporating lessons from his experience can empower aspiring business owners to take actionable steps. By understanding the audience, strategically engaging in online communities, and delivering value, entrepreneurs can build sustainable businesses.
For those ready to launch their projects, resources like “Starter Story Build” can provide guidance on using AI to develop and market products, making the entrepreneurial journey accessible even to those without technical backgrounds.
