What research can you do other than look at web traffic estimates of competitors? It'll be obvious who is big + who is small, but it doesn't help understand... "are these companies actually profitable? What's retention like?"
What research can you do other than look at web traffic estimates of competitors? It'll be obvious who is big + who is small, but it doesn't help understand... "are these companies actually profitable? What's retention like?"
1. Cold email/linkedin message then speak to 100 potential customers. Attempt presales. You don't actually have to get presales, but that process should give you a good indication for willingness to pay / desired functionality, how people are currently working on the problem, and what language they use to describe their pain (quoting that back to customers is good marketing copy)
2. Build a landing page, run facebook / google ads, find out how much it costs to acquire an email address. Your real CAC will be higher of course, but this is a good starting point.
I'm a founder of https://www.saturncloud.io/. I started with #2, and found it cost 70 cents in advertising revenue to get a click, ~7$ for an email address, and ~$100-$200 to get someone to signup. When we started we were attempting a low touch sales model.
Since then we've started focusing on enterprise sales, because the willingness to pay is much higher. We did #1 when moving towards enterprise sales, but should have done that in the beginning.
Know that while competitors might have it right, they also might have it wrong.
Talk to people.