Building a SaaS Product in Public: Strategies for Long-Term Success
29th October 2024
TL;DR
Building a SaaS product in public involves sharing your development process transparently with your audience. Key strategies include consistent documentation, leveraging social media, embracing feedback, and balancing transparency with privacy. This approach can lead to increased user engagement, valuable feedback, and a strong community around your product. However, it comes with challenges such as public criticism and competitive exposure. Success can be measured through community growth, engagement rates, and early adoption metrics.
What Does It Mean to Build a SaaS Product in Public?
Imagine sharing every milestone, every challenge, and even every setback of your SaaS product’s development journey with your audience. That’s the essence of building in public, an approach that allows your community to see your product take shape in real-time.
For SaaS founders, this can be a powerful strategy. Not only does it foster trust with potential customers, but it also creates a sense of ownership and engagement among early adopters. In an era where authenticity reigns supreme, showing the inner workings of your product development can set your brand apart.
But why would a SaaS company choose to expose its inner workings? And how can you do it effectively without compromising your competitive edge? In this blog, we’ll explore the benefits, challenges, and best practices of building a SaaS product in public.
Why Should SaaS Founders Consider Building in Public?
1. Transparency Builds Trust
Customers expect openness and a willingness to show that you have nothing to hide – whether it’s celebrating a product milestone or admitting when something doesn’t go according to plan – it all serves to build trust with your audience.
2. Real-Time Feedback
Building in public offers the advantage of real-time feedback. Instead of waiting until launch to hear what users think, you can tweak features and functionality based on immediate suggestions from your audience. This makes your product more user-centric.
3. Community Building
By sharing your journey, you’re not just creating software – you’re building a community. Early adopters become emotionally invested in your product, often turning into champions who will spread the word and support your brand.
4. Momentum and Accountability
Sharing regular updates creates a sense of accountability, keeping you motivated and on track. It also builds excitement and anticipation within your community as they follow your product’s development in real-time.
5. Learning Opportunity
It’s also a chance to learn from others in the industry. The feedback loop often includes insights or solutions from professionals who have faced similar challenges, helping you refine your product.
What Are the Key Challenges of Building a SaaS Product in Public?
1. Navigating Public Criticism
While feedback is valuable, building in public also exposes you to criticism, both constructive and harsh. Learning to filter out noise while focusing on actionable advice is a crucial skill when adopting this approach.
2. Pressure to Perform
Constantly updating your audience can create a pressure to perform. When timelines slip or things don’t go as planned, the expectations from your community can feel overwhelming.
But remember, “Pressure is a privilege – it only comes to those who earn it”
3. Exposing Ideas to Competitors
By openly sharing your roadmap, you risk giving competitors insights into your strategy. While transparency is key, it’s important to balance openness with the protection of proprietary information.
How Can You Successfully Build a SaaS Product in Public?
1. Choose the Right Platforms for Sharing
Start by selecting the platforms where you’ll share your journey. The choice will depend on where your audience spends their time:
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- X: Ideal for short, frequent updates and quick wins.
- LinkedIn: Better for in-depth professional insights and long-form posts.
- Reddit: Great for engaging with niche communities that align with your SaaS product.
- Podcast: For sharing in-depth discussions, interviews with team members or industry experts, and creating a more personal connection with your audience.
- Indiehackers: A community-driven platform where indie founders share their building journey, exchange insights, and track their progress.
- YouTube: Demonstrations, product walkthroughs, behind-the-scenes content, and building a dedicated following through video content.
For example, if you’re developing a productivity tool, X could be perfect for sharing quick updates, while LinkedIn might be better for longer insights on productivity trends.
2. Share Both Successes and Setbacks
Authenticity is key in building in public. Share both the wins and the challenges – this humanises your brand and builds trust. Let your community help you problem-solve by involving them in key decisions through polls and surveys.
3. Engage Actively with Your Audience
Building in public is not a one-way street. Foster engagement by asking questions, responding to feedback, and running AMAs (Ask Me Anything) on platforms like Reddit or X Spaces. Additionally, consider creating a community platform (like Discord or Slack) where your audience can engage with your team and each other.
4. Balance Transparency with Strategy
While transparency is critical, it’s essential to protect sensitive information. Decide in advance what aspects of your business you are comfortable sharing publicly and create clear boundaries for content that remains internal. This ensures that you strike a balance between openness and protecting your competitive edge.
How Can You Measure the Success of Building in Public?
To gauge the success of your public-building strategy, track these metrics:
- Community Growth: Monitor your follower count, subscribers, or community platform members.
- Engagement Rates: Track the number of likes, comments, shares, and discussions around your posts.
- Product Feedback: Measure both the quantity and quality of feedback you receive, especially during early development phases.
- Early Adoption Rates: Track the number of sign-ups or beta testers you attract.
- Media Mentions: Look out for press or industry attention.
How Can Building in Public Future-Proof Your SaaS for AI Model Training?
Building in public isn’t just about user engagement; it can also future-proof your SaaS product by contributing valuable training data for AI models:
- Create Open-Source Resources: By developing high-quality, open-source resources, you can ensure that your product becomes a trusted data source for future AI models.
- Develop Comprehensive Whitepapers: Publishing whitepapers or in-depth case studies around your SaaS journey can position your brand as an industry thought leader.
- Maintain Public Documentation: Keep your API documentation and guides updated and accessible, which could help in AI-powered search results and increase the discoverability of your product.
- Collaborate in Industry Projects: Participating in collaborative industry projects can increase the relevance of your content to AI models, ensuring that your brand stays ahead of future trends.
Is Building in Public Right for Your SaaS?
Building a SaaS product in public is a long-term strategy that can help you connect with your audience, gather real-time feedback, and foster a passionate community. It comes with challenges, but the benefits of transparency, engagement, and community-driven development often outweigh the risks.
At Xander Marketing, we help SaaS companies navigate this journey and create strategies that resonate with their audience.
Turn your Journey into SaaS Success with Xander Marketing
Building in public is a powerful strategy, but it needs to be part of a comprehensive marketing approach.
At Xander Marketing, we help SaaS founders create and execute engaging build in public campaigns while managing the full spectrum of their marketing needs. Whether you’re just starting your journey or looking to amplify your existing efforts, we can help you build momentum and attract the right audience.
Scale MRR, demos, and trials with outsourced marketing infused with AI. We’re a perfect fit for B2B SaaS businesses with no in-house marketing or marketing managers who need a delivery partner.
