Digital Document Analytics

Listing Details

A B2B SaaS for digital document analytics. Like Google Analytics, but for digital docs. 

Our target market is companies which create content through tools like Notion, Coda, ClickUp, Evernote, etc., and share it with various stakeholders. Users, for whom understanding if their content works / is helpful is critical for job success. 

The tech is quite flexible, though currently, it serves only the niche of Notion users. 

As of October 2023: 

✅ 600 Monthly Active Users 

✅ $1.1K+ MRR 

✅ 140+ paying customers 

✅ 19K+ registered users 

We're charging a monthly/yearly recurring fee across three tiers: 

Pro - $12/mo ($10/mo if yearly) - 37% of MRR (added in June 2022) 

Team - $36/mo (30/mo if yearly) - 20% of MRR (added in July 2023) 

Business - $108/mo ($90/mo if yearly) - 0% (added in Nov 2023, as part of the “decoy” pricing initiative) 

Deprecated plans with active subscriptions: 

Basic - $6/mo ($5/mo if yearly) - 32% of MRR (deprecated in Aug 2023) 

Creators - $3.99/mo ($14.99/every 6 mo) - 11% of MRR (deprecated in June 2022)

How it works: 

A tracking widget embedded on the page collects analytics, which are displayed to users on a real-time app dashboard. This year, we increased our prices and started targeting a higher-paying B2B segment (also a team plan), consequently increasing the ARPU and causing churn in the low-paying segment. 

Our acquisition channels are Google Search ranking and a viral watermark. 

This tool earned the #2 Product of the Day title on Product Hunt on September 12th, 2023.

TECH STACK

JavaScript, React, Node.js, GraphQL, Firebase, Clickhouse, Heroku, Cloudflare

How can the buyer take this project further?

There're two types of growth opportunities: product strategy- and distribution-related.

1. Strategic (product) opportunities.

While the product/market fit is in serving customers that need analytics for their digital documents, the app currently serves only the Notion users niche. Integrations into other digital document tools (i.e. into Coda, etc.) would lead to the expansion into the new niches, increasing the size of the relevant audience that can be reached and pitched to.

The underlying product infrastructure has been recently migrated to ClickHouse database, which means the tech is ready to handle x10 - x100 of the current volume of tracking traffic with no modifications to the part where analytics is stored.

Also, the need in usage analytics tools will continue to grow across the board, as the rise of generative AI tools lead to significant increase of content that's being created.

2. Distribution opportunities.

To understand the distribution opportunities, it's important to understand which channels are currently used.

Over the entire period of its existence, the product has been growing using only two acquisition channels: Google Search ranking on key keywords, and Product-Led growth via the viral watermark.

(the watermark can be disabled on the paid plans).

Google Search has been the main acquisition touchpoint, while the watermark, helped acquire new users virally, enhancing the main organic Google Search channel:

1. Users sign up to use the product, start tracking their pages, and embed tracker with a watermark on their page(s);

2. Certain % of their audiences click on the watermark and become new users;

3. More users start using the product and embedding the watermarked trackers;

4. ... the loop continues.

While the above growth loop worked great, some fundamental acquisition strategies haven't been incorporated into the product yet.

Current channels:

- Google Search ranking on key keywords (notion analytics, etc)

- Viral watermark

Opportunities:

1. Affiliate marketing (work in progress, currently setting this one up)

2. Content marketing (blogs, long tail keywords, etc)

3. Email content marketing (lead magnets, etc.)

4. Paid advertising (newsletter ads, social media ads) - spent a couple hundreds, but gave up, as there's no skills/experience in the team to make them work

5. Social media organic (twitter, linkedin, etc.)

6. Influencer marketing (there's a plenty of notion/productivity influencers out there, at least on twitter)

7. PR

8. Cold outreach

9. Switch from freemium to [reverse] free trials (team plan)

10. Other