Feedback from customers is a valuable tool for measuring their loyalty and satisfaction. It not only helps businesses improve their products and services, but it also opens doors to new research and market niches. This is especially true for Value SaaS businesses, which bootstrap or raise small external investments to create a growth engine for scaling to $10Mn and beyond.
Gangadeep Singh Josan, the co-founder and CEO of NittioLearn, a training platform for retail businesses, understands the importance of customer feedback. With his expertise as a product and R&D manager in various companies, he shares how heeding to customer feedback has paved the way for his success in an untapped market.
Josan talks about how customer feedback led him to pivot his business, gaining more customer traction and targeting a new group after the pivot. Feedback not only measures customer satisfaction but also opens doors to new opportunities that businesses may not have thought of before. By providing more value to customers, founders can build better products and services, leading to success in untapped markets.
In a Value SaaS series, businesses focus on surviving in their path to the first million. They iterate rapidly to create a growth engine for scaling up with founder-ownership friendly capital, growing rapidly, and thriving. Value SaaS businesses are able to make $1 of revenue through less than $1 of spend. Examples of such businesses include Veeva, Zoho, MailChimp, Atlassian, BrowserStack, and even Salesforce, all of which made more than $1 Mn ARR with less than $1Mn in spend.