• Some feedback a new user got on his two sites

    Quote Originally Posted by spireframe
    Hello all, I wanted to expand on my initial greeting. I started writing a couple sentences and now realized I wrote a novel. I apologize if this should be in another thread or forum group. I thought I would just lay it all out there for you all to read.
    Thank you for taking the time to provide this insight into your business. You have a couple of very interesting sites with products in highly competitive spaces. Financial software has always been very difficult to market. The opportunity is in supply to individuals, but few investors know exactly what is needed to safely build portfolios. Investors often decide to follow newsletters and methods, or hire advisers and financial professionals, rather than do analysis themselves.

    An Adobe add-on for an existing commercial product is something people would expect to be provided directly from Adobe instead of by a third party offering, so that makes marketing difficult for a product of this type. Please do not take any of the opinions to follow personally, as statements are no reflection upon your capabilities. The sites look good.

    Quote Originally Posted by spireframe
    Regarding Spireframe.com:
    This is originally just my company website where I advertised my part-time software development consulting business. I created a financial analysis application in 2005 and began selling that product through the site, eventually modifying the site to more of a product-focused site. The app has never really sold very well
    The five points you list would help. Offering multiple products across a wide range of price points could realise more sales. I found the Value Investor product tour lacking key points, especially for the price. Without adding a great deal of education on the use of the current product (which would also generate interest and traffic), expansion into other areas seems an option.

    Disclaimer: I did not download Value Investor, so these comments are based on information on your site. I have bought and used a side variety of financial software products. Your price point is wrong, in my opinion. Very few people are willing to buy an annual license any longer, unless the product is a very strongly supported application in demand by business owners (often paying the annual fees through services enabled by the software). This program imports from Excel, which is where I would do the analysis at no additional cost.

    Software of this type is best sold through seminars and investing shows, such as The Money Show. A single price is expected, but fees can be charged for new capabilities offered in full version upgrades. With the correct features (as in proven profitable strategies), this could have a price point of about $900 (due to a depressed market because of global economies - 1500 in better times), but that price would not sell through a website. Is this capable of importing a financial data feed? That is the recurring revenue stream from analysis software, sales of a monthly subscription to a feed (as a sales agent to the data provider). This type of agreement allows a much lower price point due to sales of data.

    Quote Originally Posted by spireframe
    Regarding PDFPrime.com
    I made and have been selling since Jan 2009, a PDF splitting, merging, locking, and unlocking product called PDF Prime. It has sold reasonably well, meaning the revenue it has generated (about $2000 per year) has required very little work on my part. My biggest problem is this product is stuck in a very crowded marketplace - their are dozens of PDF editing apps that do everything you can imagine.
    Without a unique selling proposition, I agree the market is crowded. You went a different direction than I would have by splitting it into four separate aps. If I need a scanner, printer, and copier, I would rather buy an all-in-one solution. For software, I think the same way. Adding capabilities to the program, rather than splitting and recompiling existing code, would provide the opportunity to offer an upgrade (with a fee) to existing customers. What else would customers who lock and unlock PDFs need to do?

    Separate landing pages for the products would be a good idea, but personally I'd avoid separate sites for each component. I have found that building traffic to, and interest in, a single ecommerce site with multiple products is easier. If someone is interested in two of your products, they may prefer being able to buy both from the same site in a single purchase.
    This article was originally published in forum thread: New to the forum. Ready to learn. started by spireframe View original post