GrowthPanels – SaaS Growth via Word-of-Mouth

[captinshiny]

Website: https://growthpanels.com

GrowthPanels is a tool that helps SaaS companies grow their business through word-of-mouth marketing via affiliates, and incentivized tasks.

GrowthPanels enables users to integrate a panel on their website, showcasing different ways customers can earn money off their next bill, simply by engaging in activities such as creating social media posts, writing reviews, or producing video testimonials.

Use Case:

We offer flexibility in task and reward settings, and our platform can be embedded almost anywhere.

We focus on various engagement strategies, from social media mentions to case studies.

Target Audience:

Ideal for SaaS businesses looking to leverage their existing customer base for marketing and growth.

Market Size:

• The affiliate marketing industry globally is set to grow to approximately $14.3 billion in 2023 and is expected to reach $15.7 billion by 2024.
• Estimated affiliate marketing spending in 2023 is around $13 billion, with the industry projected to be worth $27.78 billion by 2027, marking a 91% increase from 2020.
• By the end of 2023, the global affiliate marketing industry is anticipated to be worth $14.2 billion, having grown by approximately 10.1% from 2022 to 2023.
• Another source expects the affiliate marketing industry to reach $17 billion in 2023, with affiliate marketing driving 16% of e-commerce sales in Canada and the US.

I welcome your roasts, no matter how bad they are! I appreciate any help at this early stage in our startup journey

 

[tidal9334]

@captinshiny I think it's a great idea. It would work best for SaaS that has users with actual following. I have found affiliate marketing only works if said affiliates have following/reach.

This is great btw! Good luck with it Daniel.

 

[captinshiny]

@tidal9334 Yes, normal affiliate programs rely on affiliate marketers to really succeed. I wanted to change that by giving normal users easy ways to share, generate content, testimonials, whatever, by rewarding them for doing so. Now, instead of a small percentage of your users (who are affiliate marketers) sharing your startup, your entire userbase will

Would love to see it on BlogStatic

 

[408]

@captinshiny I like this idea and I can see the viability... but on the other hand its a TikTok shop without the network

 

[captinshiny]

@408 You mean, if you don’t already have at least some users?

 

[raendrops]

@captinshiny Here are my roasts...

1) partner management systems are plentiful. Partnerstack, Reditus, Rewardful, FirstPromoter, Impact, affpro, and dozens more. I get your branding is different, but how do you differentiate from it? Are you focused on an even smaller niche?

2) now pitching my solution - how do you prevent fraud? Aff Marketing is a huge industry, but my gut says around 30% of it is fradulent display ads, fradulent transactions with bots using stolen credit cards, brand bidding (this one I solve for, we can chat later). Fraud is a huge problem in affiliate marketing. You may not find it in the beginnig because you may have a stronger bond with your initial customers, but it will come eventually. (I've being on the buying side of affiliate traffic, once we got a truckload of clicks coming from a church's website in the middle of Brazil). Although you offer these sweepstakes and tasks, you need to be very sharp on how to detect fradulent behavior. (maybe you actually live off Hcaptcha revenue?)

3) the hardest part of running a PMS is getting the customers. Reditus and Rewardful found a niche by having pricing that was not extorsion (% of the spend), rather clear and fixed pricing. Even when you DO find customers, you need to convince them to do the heavy lifting. I.e. I did a study and found that in the Reditus public marketplace a lot of brands were also in FirstPromoter. when you go to the brand's website, they point to FirstPromoter. Conclusion: this is high touch sales



Silverlining: I offer MY customers protection against affiliates that misbheave. But many of them are even more interested in FINDING good partners (not protecting what they already have). maybe you could leverage that problem and become a match maker?

I hope that provokes some thoughts. And hit me up if you want to discuss anything else