Objective: help sales managers of freemium SaaS products by adding job titles to Mixpanel data
Two iterations of this product were launched:
- A direct integration with Mixpanel to add job title data to user profiles
- An API for developers to source job title data
Results
INACTIVE
No sales through RapidAPI, no demand for Mixpanel integrations Time spend developing: 19 hours
Lessons
- Enrichment APIs are expensive (start at 20c/profile)
Technology tested
- API platform and monetisaion: RapidAPI
- Usage billing: Stripe
Lean canvas
Problem
- Managers of freemium products need to convert free users to paid plans
- When targeting a team of users, a manager needs to know who is the right person to contact
- Manually searching for job titles is tedious
Solution
- Simple web app that requires a Mixpanel API
- We use Clearbit to add LinkedIn profile data to Mixpanel
Key metrics
- Number of profiles search
- Number of users
Unique value proposition
- No-code solution to add job titles to Mixpanel
Unfair advantage
- Simplicity
- Transparent pricing
Channels
- Antler cohort
- Organic search
Customer segment
- Product and sales managers of freemium business SaaS tools
- Non-technical managers
Cost structure
- Contact enrichment costs: between 1c and 50c per contact
- Tech costs: domain, serverless functions. <$500/year until profitable
- Payment processing fees: 5%
Revenue streams
- Usage billing: $1 per 100 profiles