Hey - Marc here.

Happy Saturday morning, motivated B2B SaaS Founders!

Here's at least one tip to keep in mind as you grow your B2B SaaS company:

Today's issue takes about 5 minutes to read.

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In today's issue, I share some key takeaways from Ubersuggest’s CEO and founder Neil Patel’s presentation at Nathan Latka's conference “SaaS Open 2023” in New York. He discussed a new way to think about SaaS: how to build a 9-figure company by giving software away for free.

Neil Patel has played a pivotal role in the growth of major companies such as Amazon, Microsoft, Airbnb, Google, Thomson Reuters, Viacom, NBC, Intuit, Zappos, American Greetings, General Motors, and SalesForce through his expertise in marketing.

His influential online presence reflects in his blog with over 4m monthly visitors, his “Marketing School” podcast garners over 1m monthly listeners, his YouTube channel boasts an impressive 31m views and 765k subscribers, his Facebook page with 1m fans, and his Twitter with 372k followers.

Neil’s Awards and Acknowledgments:

The Wall Street Journal - top influencer on the web
Forbes - top 10 marketers
Entrepreneur Magazine - acknowledgment for creating one of the 100 most brilliant companies
President Obama - Top 100 Entrepreneurs Under the Age of 30
United Nations - Top 100 Entrepreneurs Under the Age of 35

About Ubersuggest

Ubersuggest stands out as an exceptional keyword research tool, providing unparalleled capabilities for generating content and keyword ideas. This all-in-one SEO tool enables you to effortlessly track your rank on a daily basis, conduct comprehensive competitor analysis, and perform thorough site audits.

When they bought the business, they were at a remarkable growth rate of more than 40%. They witnessed their organic amplification through employees’ word of mouth and referrals. These avenues, alongside their ongoing efforts, played a significant role in expanding their reach to a broader audience.

In an exciting recent development, they proudly acquired a company from FE International for a notable sum of $8.6 million. Interestingly, this possessed immense potential but was generating a modest $1.2 million in EBITDA.

While it may be acknowledged that they paid a premium for this acquisition, it is essential to recognize that it represents a significant milestone for them. This strategic move contributes substantially to the popularity of Ubersuggest, accounting for a substantial 70% of its overall success.

PS As a testament to their digital marketing expertise, they have a digital marketing blog with over 350k visitors per month and a YouTube channel with more than 65k subscribers.

Advice to Other Founders

Convert visitors into revenue in 5 steps:

Build your email list as a valuable asset.
Provide a free offering that aligns with what your audience typically pays for.
Develop or acquire a high-quality free product.
Continuously enhance and expand your free features to add more value.
Circle back and collect emails again, leveraging your email list to promote new features.

You don't have to possess extraordinary marketing skills to make an impact.

The key lies in the power of offering something for free. When people are accustomed to paying for something that you generously provide at no cost, it captures their attention and cultivates a mindset where they become willing to pay for it. Your offering will experience a surge in popularity and demand.

Embrace the power of the "Last Mover Advantage"

Instead of rushing to be the first in a particular market or industry, observe and learn from the failures of others. Take note that giants like Google and Facebook were not the pioneers in their respective fields. Many successful companies today have thrived by carefully analyzing what their predecessors did wrong and finding ways to do it better.

You don't have to start with a perfect product from day one.

SaaS is a race to the bottom. Everyone is racing to offer similar features at lower prices and imitate one another — and this will keep on happening. By consistently promoting your products or new features to your email list, you can stay ahead of the competition and maintain a successful trajectory.

TL;DR

Neil Patel, the CEO and founder of Ubersuggest by NP Digital, shared insights at the SaaS Open 2023 conference. He emphasized the strategy of building a 9-figure company by giving software away for free, not just freemium versions. NP Digital is now one of the fastest-growing companies in the advertising agency space, working globally and defying the challenging economy.

PS Here is a link to the full interview if you are interested in listening to the full episode: How to Build a 9-Figure Company by Giving Software Away For Free

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See you again next week.

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