You too have better ROI when you target Locally ?
Hey, I just joined IH and I had a quick look at some products and their MRR. Some of the products that are making around the 1k/month are really good. The thing is, I am from Morocco (developing country in north Africa where people are not used to buying online) and my products make almost the same revenue as the ones just mentioned. I have a feeling, that it is easier to launch a product locally where it costs almost nothing to market it even if the purchasing power is very low or the culture is not yet developed towards buying online.
I now have 3 softwares in Morocco (Niche job boards) that make around 1k/month each. Do you guys think that it is supposed to be that way or I should just target bigger markets like USA, Europe or smthng like that ?
Thanks in advance for sharing your experience.
Hi Youssef, welcome aboard!
There is a tendency to have better conversions and ROI with local companies. I believe that its a matter of trust. People usually trust other people more when they can relate to them, being for another country that they maybe never ever heard about (I am Argentinian so I get it!)
You can target different markets but you have to create a different appeal to them and appear more local audience. Each market has different languages and ways of selling, you should learn and create specific strategies for each. If you are looking to expand to bigger markets make sure to start small, the US for ex. is a really big and competitive market so you have to be really clinical with your strategies if you are low on budget. Do more organically, content and SEO
Hope it can help you!
Best
@ivantabachnik Maybe I should specialize on a demography of ppl who are used to spending money online and where competitors aren't yet present like Switzerland or Germany.
Yeah, that for sure. A good book you should read is the Blue Ocean strategy. It teaches you how to find new markets where you dont have competition. Link to the book (affiliate) https://amzn.to/2SstyJv
Question about the book. Does it really "teach you how to find new markets"? Or does it just talk about what the blue ocean strategy is, and why you would want to go for that strategy?
Its not a specific market analysis tool, but it helps you to understand which market you should look for in terms of the strategy itself
you the man !
Hi Youssef,
I'm also from Morocco, You can target the francophone market like France which is a big market in Europe because I think Moroccan people didn't have purchasing power or the culture to buy online but there are some Moroccan people a good amount of money in SaaS
How did you monetize your niche job boards?
Salam @Iliashad. Yepp I know and this is actually how the idea started. I was telling myself why would you target france knowing that you can target any other country. There are better countries to target than france. But again, @ivantabachnik got it right. There is a whole concept that's called Blue Ocean Strategy that is very interesting to learn.
Yes, the Blue Ocean Strategy is very interesting to learn and it's on my reading list for 2020
Book Summary: https://www.youtube.com/watch?v=5Xd5lvyWMe8
Btw, what's your best coding language ?
JavaScript. I use it for the front end and the back end. What about you?
Laravel for backend and JS for frontend. Good to know.
Great. Did you have a Twitter or Facebook account?
@yamakrane is my twitter handle. I don't use it that much though. Fb is fb.com/youssef.amakrane
Great. I recommend you to use Twitter because it's very popular indie hackers and they share valuable resources and advice
I would focus on Morocco (I was there for a two months back in September actually). Like what ivantabachnik said, you will know how to speak to Moroccans better than people outside Morocco, and will be able to have a strong niche there.
Thanks for the tips ! And btw @crobertsbmw, were you there just visiting or nomad ?
I'm a temporary nomad I guess. I have been traveling with my wife and kids for 8 months now, with maybe 5 more to go, just until my kids have to start school. Morocco was incredible, I'd love to go back.