How does one build a SaaS product targeting a middle income market?
I've been working on my SaaS since January and the year has ended without me finishing. I'm targeting the Ghanaian (Ghana, West Africa) market and the customer base for B2B is quite small…unlike the West where there are many potential customers who understand the value proposition and willing to pay.
This has demotivated me to the point where I don't make much progress. Now I have come up with two options.
Add more features that appeal to a wide variety of small businesses (to increase the market side a bit). I have talked to a few potential customers and a micro-SaaS isn't enough. They seem to want an all-inclusive solution. At least three or more offerings to justify value.
Partner with someone in a developed market to sell abroad. This requires having a registered entity and capital intensive to do it alone. Selling abroad is cost-effective too but has its own set of challenges. For example, sell to Ghanaians in the diaspora.
The SaaS is about 70-ish% complete. You may checkout just the landing page at https://nnipa.app
What would you do if it were you? I need some ideas. What solutions have succeeded in other middle-income countries/markets?
Hi, fellow Ghanaian here. i'd to point out some things here. 1- In case you are not aware of, the type of product you're building is kinda saturated in this country. Before you started, did you do some research to understand how the market is and how your competitors work. 2- Those who told you they want "an all-inclusive solution", did they refer you to the one they've used before or using currently? If so, you have to think about incorporating the things you think can be improved, inside your product. Don't just think about adding more features cos some of these features might be useless and waste of your resources. 3- Pricing. You are not building a product for the general public but for a particular group. So if you think your product is worth the shot, your base price should be at least GHS50/mo with few options. You can set up a demo version with minimum core features(basic features) which anyone can use. 4- Start small with the necessary stuffs then implement more as the demand grows. Don't just do things because you think they might need/use it. You and i know that in this country, businesses don't take you serious if you company isn't big or known. They might be making demands/requesting features when they've not even used your services to begin with, just to waste your time.
Sorry if what i'm saying doesn't make sense or is discouraging.
Before you started, did you do some research to understand how the market is and how your competitors work.
Yes, I think I mentioned the part about talking to target customers in the post. The idea/research goes way back.
Don't just think about adding more features cos some of these features might be useless and waste of your resources.
In the context of what customers are asking for…but yeah, I'm not actually adding what I think…but I've come across recurring (but related) requirements from talking to some business. Some of which a micro-SaaS like mine simple isn't designed to do . Most of these businesses I'm targeting are the kind of growing businesses not using any SaaS product at all.
A micro-SaaS suggest they will have to use another tool for related tasks. Micro-SaaS however is easier to build and finish in time.
If you look at the FAQ section, you'd realize I'm targeting small businesses…very small. The kind that needs a micro SaaS but due to the absence of other SaaS tools, they seem to want more. Those are realistic but way beyond what I had planned to build….resource-wise.
You said the market is saturated. I'm curious to know the local players you are specifically referring to. I've asked multiple businesses and it's almost always vendors abroad.
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