We want to build a research tool for private markets infrastructure ...
...managers and, potentially, clients. Private markets deal with opaque markets and limited information. We see an opportunity, while other players (incl. blackrock-backed) are already in the market, we'd like to implement a software only approach.
People love using similar products but resist paying. You’ll need to either find who will pay or create additional value that’s worth paying for.
Should You Build It?
Build but think about differentiation and monetization.
Your are here
You're entering the private markets research tool space with a software-only approach, which differentiates you from players like Blackrock-backed firms. This puts you in the 'Freemium' category: people are interested in research tools, but may be hesitant to pay upfront, especially in opaque markets where value isn't immediately clear. With 5 similar products already out there, expect competition and the need to clearly differentiate yourself. A key challenge will be convincing users of the value of your tool, as research indicates people may resist paying. Your differentiation relies on your software-only approach which should be highlighted in your messaging.
Recommendations
- Begin by identifying which infrastructure managers and clients derive the most value from free access to your research tool. What specific data points or analyses are 'must-haves' for them, even if they don't immediately convert to paying customers? Understanding this will inform your freemium model and future premium feature development.
- Develop premium features that significantly enhance the value for power users. Think beyond basic data access. Consider offering advanced analytics, custom report generation, or exclusive datasets not available in the free version. Ensure these features directly address the pain points of private market infrastructure managers.
- Explore team-based pricing models instead of individual subscriptions. Private market firms often operate in teams, making a collaborative research tool more appealing. Frame your pricing around the value your tool brings to the entire team's workflow and decision-making process.
- Offer personalized onboarding, training, or even consulting services as a premium offering. The complexity of private markets may require hands-on support to maximize the tool's utility. This can be a high-margin revenue stream while building closer relationships with key clients.
- Implement a testing phase with small groups of potential users to gauge price sensitivity and feature prioritization. Gather feedback on what they find valuable and what they're willing to pay for. This will allow you to refine your pricing and feature set before a wider launch.
- Given that LLMWare users value easy setup, ensure your software is incredibly user-friendly and easy to deploy. Reduce friction as much as possible, focusing on quick onboarding and intuitive navigation. Highlight the ease of use in your marketing materials as a key differentiator.
- Address concerns about data security and accuracy proactively. Clearly communicate your data sources, validation processes, and security protocols to build trust with potential users, especially in the highly regulated financial industry.
- Consider the needs of smaller enterprises. LLMWare had feedback around compute restrictions, so consider how your software can be accessible to smaller firms without significant infrastructure investments. Could you offer cloud-based solutions or optimized algorithms?
Questions
- What are the 2-3 most common workflows or research tasks performed by private markets infrastructure managers that your tool can dramatically improve? How can you quantify the time savings or improved decision-making resulting from your tool?
- Considering the 'Freemium' category, what specific data points or analyses are 'must-haves' for users even if they don't immediately convert to paying customers? How can you make these offerings valuable yet not cannibalize your premium features?
- How can you proactively address data security concerns and demonstrate the accuracy and reliability of your data, especially in the context of opaque private markets where trust is paramount?
Your are here
You're entering the private markets research tool space with a software-only approach, which differentiates you from players like Blackrock-backed firms. This puts you in the 'Freemium' category: people are interested in research tools, but may be hesitant to pay upfront, especially in opaque markets where value isn't immediately clear. With 5 similar products already out there, expect competition and the need to clearly differentiate yourself. A key challenge will be convincing users of the value of your tool, as research indicates people may resist paying. Your differentiation relies on your software-only approach which should be highlighted in your messaging.
Recommendations
- Begin by identifying which infrastructure managers and clients derive the most value from free access to your research tool. What specific data points or analyses are 'must-haves' for them, even if they don't immediately convert to paying customers? Understanding this will inform your freemium model and future premium feature development.
- Develop premium features that significantly enhance the value for power users. Think beyond basic data access. Consider offering advanced analytics, custom report generation, or exclusive datasets not available in the free version. Ensure these features directly address the pain points of private market infrastructure managers.
- Explore team-based pricing models instead of individual subscriptions. Private market firms often operate in teams, making a collaborative research tool more appealing. Frame your pricing around the value your tool brings to the entire team's workflow and decision-making process.
- Offer personalized onboarding, training, or even consulting services as a premium offering. The complexity of private markets may require hands-on support to maximize the tool's utility. This can be a high-margin revenue stream while building closer relationships with key clients.
- Implement a testing phase with small groups of potential users to gauge price sensitivity and feature prioritization. Gather feedback on what they find valuable and what they're willing to pay for. This will allow you to refine your pricing and feature set before a wider launch.
- Given that LLMWare users value easy setup, ensure your software is incredibly user-friendly and easy to deploy. Reduce friction as much as possible, focusing on quick onboarding and intuitive navigation. Highlight the ease of use in your marketing materials as a key differentiator.
- Address concerns about data security and accuracy proactively. Clearly communicate your data sources, validation processes, and security protocols to build trust with potential users, especially in the highly regulated financial industry.
- Consider the needs of smaller enterprises. LLMWare had feedback around compute restrictions, so consider how your software can be accessible to smaller firms without significant infrastructure investments. Could you offer cloud-based solutions or optimized algorithms?
Questions
- What are the 2-3 most common workflows or research tasks performed by private markets infrastructure managers that your tool can dramatically improve? How can you quantify the time savings or improved decision-making resulting from your tool?
- Considering the 'Freemium' category, what specific data points or analyses are 'must-haves' for users even if they don't immediately convert to paying customers? How can you make these offerings valuable yet not cannibalize your premium features?
- How can you proactively address data security concerns and demonstrate the accuracy and reliability of your data, especially in the context of opaque private markets where trust is paramount?
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Confidence: Medium
- Number of similar products: 5
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Engagement: Medium
- Average number of comments: 7
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Net use signal: 16.9%
- Positive use signal: 16.9%
- Negative use signal: 0.0%
- Net buy signal: 0.0%
- Positive buy signal: 0.0%
- Negative buy signal: 0.0%
Help
This chart summarizes all the similar products we found for your idea in a single plot.
The x-axis represents the overall feedback each product received. This is calculated from the net use and buy signals that were expressed in the comments.
The maximum is +1, which means all comments (across all similar products) were positive, expressed a willingness to use & buy said product. The minimum is -1 and it means the exact opposite.
The y-axis captures the strength of the signal, i.e. how many people commented and how does this rank against other products in this category.
The maximum is +1, which means these products were the most liked, upvoted and talked about launches recently. The minimum is 0, meaning zero engagement or feedback was received.
The sizes of the product dots are determined by the relevance to your idea, where 10 is the maximum.
Your idea is the big blueish dot, which should lie somewhere in the polygon defined by these products. It can be off-center because we use custom weighting to summarize these metrics.
