I am contemplating building a tool similar to BuzzStream for link building. How can I find out if the market size is big enough to easily get to $1M in revenue?
BuzzStream doesn't seem to have many employees (just 1 or 2) and for link building they seem to be very popular, which raises questions if the market could support another competitor.
The market for link building tools is pretty big. Almost every company and agency utilizes one tool or another to manage relationships.
BuzzStream is one of the few targeted on the SEO market. I have seen some companies just use SalesForce (as they're already using it) to manage link building relationships. Others use simpler tools like Boomerang for Gmail.
The biggest pain point that I have felt while using any such tool is the difficulty in getting a website's contact information. If you can solve that problem or at least alleviate it, I would subscribe to your tool myself!
Another pain point with the dedicated SEO relationship tools is lack of simplicity.
Charles I would suggest looking into Group High as they target Agencies and large corporations and cost $500/month or more.
If you have the access to that market or think you can break into that then it would be worthwile.