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Better product, no traction?

by SquaredSoftware
3 replies
Hey All,
I recently released a product for insurance adjusters. The current competitor in the space charges $800/user/mo for their product. They hire an entire team of people to sit and listen to scanners across the country.

I developed something which scans the same feeds digitally. I have a real-time lead generation, as things happen. Since I don't have all the overhead, I charge $175/user/month for my software.

I showed my application to the president of an organization which represents my target market. He said "hands down, best software on the market." Great!

I try cold calling with no luck. People assume I am trying to sell them an upgrade to their cable package, or I am stone walled by the secretary wise to telemarketing tactics.

Unfortunately, I no longer live in the city that I'm trying to focus, so in-person sales are not possible.

I know there is a market for this -- I sold a standalone copy to an adjuster for $1,500. This convinced me there was a decent market, so I put some effort into really hooking up a SaaS platform.

I thought that it might just be my ability as a sales guy, tried to hire, no luck. I feel I have a great product, and people agree, but I'm not getting any traction with it.

I'm finding cold calling isn't going to cut it. I've found mailing not to be cost effective. What strategies would you recommend? I thought about trying to do an affiliate program to deal with the hiring issue, but I don't know if the effort to set it up is worth it.

I dread that I've hit upon a market that isn't willing to budge, and I've wasted my time. Before I move on, I was curious if anyone here had any suggestions how to manage where I'm at. What are some worthwhile cold calling tactics? Is an affiliate program worth the effort on such a niche market?

I've exceeded my budget for marketing on this project at this point, so things will either have to be software focused (I can dedicate some time), affiliate percentage based, or other free tips & tricks.
#product #traction
  • Profile picture of the author fasteasysuccess
    Hey SquaredSoftware...

    Quick things...

    1-you don't need to live anywhere near where you sell people at all.

    2-if you're hearing and people assuming trying to sell them an upgrade to their cable package, or I am stone walled by the secretary wise to telemarketing tactics, then definitely not approaching or opening right.

    Now you have a lot of options like cold calling, direct mail, ppc marketing, affiliates and the list go's on.

    The key is to step back, think of what it really does, the huge main benefit...and that's the main hook to keep them. How much time are these adjusters saving with this, how much more making, how much easier etc...but as you already discovered, the key is talking to the right person so...

    3 words again...direct response marketing

    Get them to raise their hand and people say i want what you have to offer through lead generation offers and direct sales. This will save you so much time, money and more and make you a lot more too.

    Even on the direct mail side (which is actually a good way to go with this and a combo of others), you may be looking at it a little wrong.

    If your average customer stays on say 12 months and you charge 175 a month, thats's over 2k a year, so basically how much could you afford to spend to get that customer and still be profitable.

    If just mass mailing, then you'll be killed but if targeted and have the right offer, then you could be killing it.

    Targeting is the key there and everywhere else too.
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  • Profile picture of the author Jack Gordon
    This is right up my alley.

    It sounds like you have a great opportunity ahead. I suggest patience while you methodically explore different marketing options.

    Forget the cold calls and affiliates. This is not the right product for those methods. This seems like a natural for a combination of postcards, email marketing, and conferences.

    Come up with a really good lead magnet. Offer a free trial period. Do some apple-to-apple testing for your prospects.

    Also, bring your prices closer to the competition - you are making the market doubt your value by being so much cheaper.

    And come up with some marketing budget. You have to get in front of your market with this and let them taste it. That means exhibiting at their conferences and advertising in their online/offline publications.

    Feel free to PM me. Depending on a lot of details, I may be interested in investing/partnering with you.
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    Fifteen Lessons I have learned over 15 years and six businesses (or, My 1000th-Post Manifesto)
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  • Profile picture of the author SquaredSoftware
    Hey Jack,
    Sent you over a PM. Would love to hear what you have to say in terms of feedback. There are a few things that the people listening to the scanner have over me, and a few things I have over them.

    They know the extent of the fire being reported, while I just know a fire is happening. I know as soon as the fire happens though, and can beat them by 15+ minutes. Which is an enormous amount of time in this industry. However, they will know if its a grease fire on the stove, vs if its a fire reported outside, which could be make-or-break.

    However, I compile a property report with all the information on the property, and the owner. It's a give and take.

    I sent you a link and some login credentials. Let me know what you think.
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