How to monetize database as SAAS

njbox

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I have a massive database from few sources and am pretty good at mixing stats from various sources and build a dashboard analytical tool for the medical industry. I am debating between creating a SAAS platform with monthly subscription or a template based content website and then build organic traffic?
 
It would depend on where the data comes from, how hard it is to get, where else people can get this data, and what legal rights you have to it. There is plenty of data you can find on the web you are not gonna be allowed to sell.

Without much insight into the questions above cannot give a good answer - but can give an answer that fits for most in this situation.

A SAAS that costs money needs customers - if you have no traffic, website, or money for marketing you cannot get customers. Start with a content-based website using some of the data to rank for terms of people who would be looking for the data, then build a membership to get access to all the data and good tools etc.

https://www.statista.com/ does this for a bunch of business data.

Bunch of other sites that do it for test prep, homework niches, and other business data.

Your main issue is you probably have no legal right to do any of this with the data and the players that do source/create this data are not shy about coming down hard when someone gets a copy and starts trying to sell it. They don't keep it civil either, they claim it must have been a hack and send the FBI after you.
 
I like "Start with a content-based website using some of the data to rank for terms of people who would be looking for the data, then build a membership to get access to all the data and good tools etc."

The data is public domain. But I have few angles and aggregations that can work for the initial content website and then later add the subscription to aggregated metrics.
 
njbox said:
build organic traffic?
Click to expand...

If you have something that is actually valuable and rare, like data or an algorithm or something funny, then the last thing you want to do is build it and wait for organic traffic.

If you something that isn't a wordpress blog with basic content, then you need to be marketing it everywhere.

It's actually very easy to get eyeballs on social media, in the news media etc, if you have something that is even slightly unique and interesting. Data gathered by your own research is such a thing.

As @miketpowell says, you need to think about the legality aspect and who want to see this or not.

I'm not an expert on this business model which is essentially viral-to-saas, but you might want to figure out what people would pay for and what they wouldn't. Go viral with it and then lock it down afterwards, with a typical Freemium model, or rather, give access to some of it, but make the pricepoint for the Premium where people simply will pay.

Like if you use one of those free invoice templates and then you need to pay $10 / month to add your own logo and remove the waterpark. At that point it's just unavoidable.

In any case, definitely, never ever, try to make money from ads with something like this. Either you have a solid lead gen case or a high paying, very relevant affiliate offer, or you charge money.
 
Thank you @bernard and @miketpowell

One thing I did was go to Chatgpt and asked who would be interested in the "analytics of xyz data" and it came up with a solid list of personas that I had never thought about. I was only thinking about one angle and openai was able to list 11 new personas that could benefit.

Based on this I am thinking it would make sense to try email marketing once my initial MVP is built. I will need to get leads, email them, follow up etc..
 
njbox said:
Based on this I am thinking it would make sense to try email marketing once my initial MVP is built. I will need to get leads, email them, follow up etc..
Click to expand...

Do you mean cold email aka spamming?

Better to pick up the phone and call them or try to get them on LinkedIn.
 
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