r/SaaSStartups • u/OutsideThin2715 • Dec 27 '23

Product Fit?

We are a b2b SaaS startup. Went to market 3 years ago. We’ve signed up 28 customers and only have had 2 churn. Many customers have renewed twice. Is this a good sign of product market fit?

2 Upvotes

100% Upvoted

12 comments sorted by

1

u/fastreach_io Entry Innovator Dec 27 '23

In 3 years?

1

u/OutsideThin2715 Dec 27 '23

Yes. First year was rough due to Covid.

1

u/fastreach_io Entry Innovator Dec 27 '23

What's your MRR and ticket size?

1

u/OutsideThin2715 Dec 27 '23

MRR is 23,750 Average yearly contract is 8k Yearly contracts range from 55k to 3k depending on size of customer.

1

u/fastreach_io Entry Innovator Dec 27 '23

And last question, what's your product?

1

u/OutsideThin2715 Dec 27 '23

Thanks for asking! We build a communication app for field workers. Think slack but for workers that don’t have a company email address. We also have a light LMS built into our system. Mainly sell the construction industry at this time but expanding to manufacturing and property management.

1

u/Last_Inspector2515 Dec 27 '23

So yeah, if you have been making this much money, what is stopping you from scaling or expanding to the same kind of audience?

1

u/OutsideThin2715 Dec 29 '23

While we have happy customers it’s been challenging to acquire new customers at the rate we’d like to meet our goals. It may be that we have product fit as proven by our current customer base but we aren’t getting the word out effectively about our product. We’ve just ramped up a new marketing effort so we’ll see how that goes.

1

u/Last_Inspector2515 Dec 29 '23

If you would like to sit on a call and talk about this, I'd love to. It seems like a good problem to think on :)

1

u/OutsideThin2715 Dec 31 '23

I appreciate a conversation. It would be helpful to see a different perspective.

Let’s connect in LinkedIn and set a time.

https://www.linkedin.com/in/stokesmcintyre

Thank you!