#31 Weekly Dan — Perceived Value
To-do app for Entrepreneurs, Ignorable problems, and Free trials
Hello there
This is the #31 issue of Weekly Dan.
Welcome to 74 new people who have joined this week. You are nice.
Every Friday, I share 5 golden nuggets with you:
One Personal Insight
One Problem to Solve
One Long-term Trend
One Thought-provoking Question
One Great Resource
Let’s get going.
Personal Insight 🤯
Perceived value matters
I wrote an article about the landing page formula.
The value? Above average.
But I decided to improve its perceived value:
Added “secret” to the heading
Called it a “playbook”
Connected it with money
Mentioned it is “sooo simple”
The result? 800 people suddenly wanted to read it.
So here is a kind reminder:
Don’t add more features to your product.
Instead, make each feature sexier.
Problem to Solve 👹
To-do app for Entrepreneurs
I know. Just hear me out.
We always overestimate what can be done in one day
We often underestimate what can be done in one quarter
Entrepreneurs with a dev background tend to ignore marketing tasks
Entrepreneurs with a marketing background tend to ignore tech debt and bugs
And current to-do apps are not a good fit. They are convenient for tracking tasks. But they don’t help me to track the right tasks for my business.
Long-term Trend 🛸
Free trial > Free plan
Having a free plan is the most overrated marketing idea for Indie Entrepreneurs.
You want to pump product-led growth and get “free marketing”. But more likely, you will get tons of users without motivation to buy your product.
Tally reported that only 3% of their free users upgrade to a premium plan. And this is one of the most brilliant Indie products. So for an average one, it will be around 1%.
Math is terrifying.
Let’s say your product costs $10 per month, and you want to add $100 MRR. You will need 10 paying customers. With a 1% conversion, you will need 1000 free users. And with a 10% landing page conversion (a good one), you will need 10 000 website visitors.
TEN THOUSAND WEBSITE VISITORS FOR ONE HUNDRED MRR. This is nuts.
So if you are not planning to build a 50-person marketing department, stick to a free trial. Don’t overcomplicate it.
Thought-provoking Question 🔋
Why do people care about this problem?
People face hundreds of problems every day.
From:
We don’t grow fast enough
Our website is loading too slowly
We need to pay taxes
To:
I need to learn Spanish for my trip
I don’t know what to eat for dinner
I need new friends to hang out
And these problems are not equal. We focus on solving a dozen problems and ignore the rest. Because we don’t have enough time and money to solve them all.
Conclusion?
The less ignorable your problem is, the easier it will be to build a successful business around it.
Here are a few signs of unignorable problems
This problem occurs daily or weekly
It’s connected to money, time, health, or freedom
The consequences of ignoring the problem are life-changing (in a negative way)
Solving an unignorable problem — sailing with a wind at your back.
Great Resource 🏈
I am a sucker for great Twitter threads about copywriting.
And this one is just brilliant. Actionable, fresh, and concise.
A “Finish Strong” tip was eye-opening to me.
That’s it!
Mind to give me some feedback?
See you on Tuesday 👋
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