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No fluffy content. If your goal is to build a $100m ARR business, this is not the right post. Here I am are NOT going to talk about building the next Facebook or Twitter. If your goal is to make a $1K to $10K MRR, continue reading.

This post will cover one SAAS area and talk about multiple niches in this space. This post also explains how to do tech implementation, do market analysis, how the current players are doing.

This is Part 3 of ‘Building $1K - $10K MRR Micro SaaS products using AI’.

Let’s see some of the products built on top of AI (Artificial Intelligence).

SentimentInvestor: Converting unstructured data from social media into quantitative financial signals. Beat a fast-changing market through AI and Big Data. Got acquired in 2021 for full-cash purchase.

Denigma: Denigma explains code in understandable English. Powered by machine learning and AI. You just connect your code and Denigma explains what the code does. The engine uses AI. Currently at $1K MRR in less than a year.

Postaga: Use AI to Automatically Generate Effective Outreach Campaigns. Postaga analyzes users’ sites to find high-converting campaign ideas based on AI. Recently raised $180K in funding.

Lately: Social Media writing software that runs on AI. Use AI to turn content into Social Media. The AI will transform all long-form content into dozens or even hundreds of social media posts that will get the highest engagement. The estimated revenue is $1.1M in 2021.

Mathpix: Convert images and PDFs to LaTeX, DOCX, Overleaf, Markdown, Excel, ChemDraw, and more, with AI-powered document conversion technology. Founded in 2017, Mathpix grew to $3M in revenue per year.

Predis: Creating Fresh & Engaging content every day is a pain. Generate entire social media posts with creatives, captions, and hashtags using AI. The tool generates ready-made content based on AI. Made $42K in sales from Life Time Deals in less than 1 month.

Negative Nancy says - Automating tasks with AI is prone to errors.

Me - Statistically, human intervention is prone to errors as well. But not that most AI solutions will also give a confidence score for the results. You can define actions based on these confidence scores. For example, if you want to analyze the sentiment of ‘audio clip’, usually any AI tool/API will give you whether it is ‘positive sentiment’ or ‘negative sentiment’ or ‘neutral sentiment’ But it also gives something called ‘Confidence score’ that can be used to evaluate how confident the AI is about the result. Based on this confidence score, you can define your approval workflow to avoid errors.

Negative Nancy says - Because it is easy to implement basic AI via API calls and build products, would it be not easy for others to copy my product?.

Me - A classic mistake of how new founders think. Building a profitable product is not just about cloning a product. It’s more about execution. Anyone can copy your product and clone it but people cannot copy your execution and trust with customers. Above all, markets in this space related to AI have the bandwidth to accommodate hundreds of AI products as companies spend a lot of AI tech.

The above screenshot shows us the number of people searching for the text ‘AI’. It’s huge and is growing every day. Building products on top of AI gives you some additional mileage and makes customers acquisition easy as everyone wants to use AI.

Deep-dive & Some niches

• AI-Powered Social/Email Outreach: Running an email outreach or a social media outreach (like LinkedIn outreach) often involves a lot of steps like Prospecting, Validating Leads, Cleaning data, Enriching data, Send emails/messages, Followup multiple times, updating CRM, etc. This involves huge manual effort. Create a Micro SaaS tool that can do all this using AI that can extract leads from LinkedIn (based on targeted keywords), cleanse the data, draft email using AI by pulling the latest data from the user’s LinkedIn or their company website to give a personal touch to the message. The tool should then send the final messages and do automated follow-ups. Postaga working on a similar concept using AI raised $180K in funding.

• Explain Code with AI: For people who start to learn code, one of the biggest tasks is to understand existing complex code samples and understand what the chunk of code does. Instead of looking for mentors, trainers who can explain this to developers, a tool that can automatically explain what the code does will make the developer’s life easy. Create a Micro SaaS tool that can solve this problem for developers. See Denigma for inspiration. Denigma crossed $1K MRR in less than a year.

• Social Media content generation with AI: Generating social media posts every day is not an easy task. It needs a lot of work with curating related content, making graphics(images, video, audio assets), and posting it to social media daily and often multiple times per day. Imagine a company posting 10 posts per day, would need 3K posts per year, and drafting this much content certainly takes a lot of time. Create an AI-based Micro SaaS tool that can solve this problem for companies. The tool should be able to generate posts using AI/GPT-3 technology to generate high-quality posts based on targeted keywords. The tool should also provide options to approve the content via a content calendar and should have features to post directly from them too. Predis made $42K in sales from Life Time Deals in less than 1 month by solving this problem.

• Job Board exclusively for AI Jobs: Job boards are still in demand. The deeper you niche down a job board, the faster it grows. Create a job board exclusively for jobs related to AI and ML domains. Do not build a full-blown product. Start with a simple Google sheet or Airtable sheet and use that to build the website. There are many tools like Siteoly, Softr, Pory, etc that can build a website with data from Google Sheets or Airtable. Once you built enough traffic, start looking for companies that want to post ads on your website. You can easily look on Stackoverflow or similar sites to find which kind of companies are posting AI/ML related jobs. Typically, companies pay $99-$299 for posting ads related to jobs. You can also charge extra for mentioning the ad in the weekly newsletter or on social media handles.

• Generating E-commerce descriptions: There are thousands of e-commerce companies and one of the biggest problems for these companies - “Writing the Product titles and product descriptions”. Writing the titles/descriptions doesn’t just mean merely writing but also validating with various A/B tests and multiple variations to see which text is giving higher ROIs and better SEO. Create a Micro SaaS tool based on AI that can automatically generate multiple variants of titles and descriptions for a given product. The Micro SaaS tool should be able to generate titles/descriptions for thousands of products. To start with you can let users upload a file with some data and create AI-generated data and ask the users to download the generated file But in the long run, you need to automate this and integrate with various e-commerce providers and add this as an Add-on on their marketplaces. Integrations with Shopify, Magento, Woocommerce, etc will make it much easier to get more paid users. Perci started in this space started growing and is currently at $300 MRR.

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Technical chops

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Cost Analysis for 100 customers

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