PRICING STRATEGIES. COMPETING AGAINST FREE APPS If your app does more than free app, you can charge Free apps can (yours or another) drive sales Free.

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Presentation transcript:

PRICING STRATEGIES

COMPETING AGAINST FREE APPS If your app does more than free app, you can charge Free apps can (yours or another) drive sales Free app as an introduction, charge for more advanced app Best to keep free app free and develop a paid version

ProsCons Build brand name & a followingLots of ads Customers look for free first then buy Charging after offering free apps.....downloads drop dramatically Build free apps to showcase your skills for your app development company You may never get customers back Build a free app to support other products you are selling Difficult to maintain two apps: paid and free The more free downloads, the closer to getting in the TOP APP CATEGORY CATAPULTS SALES FREE APPS

PAID APPS ProsCons Best for tech and business categories Not enough revenue to sustain business model Customers are more willing to pay for apps that solve a problem Buyers are not price sensitive up to $14.99

Strategies Build free and paid apps simultaneously - establish following from the start - get sales along with free downloads Conversion rates from free to paid is 1% - It takes a 1,000 free downloads to generate 10 app sales Make in-depth app for a fee and disable features for free app Some free apps generate thousands and thousands of downloads Potential for revenue can be huge!

Strategies Accurately and strategically describe your app with keywords....to facilitate searches Create a catching icon..... Think about memorable logos..... Use search engine optimization techniques so you get top listing Get other sites to link to your site Link to complementary sites Issue press releases

Make your app easy to use Use professionally designed graphics Create tutorials Provide some technical support-- online chat tech support.... Develop good reputation for customer service Go viral Strategies

Pricing Misconceptions You see a lot of downward pricing pressure on App Store and think you shouldn't price your app too high - Many apps are selling 2 to 4 times the.99 price point You think customers will only pay.99 You think pricing at.99 will help you make it into the top 100 sales category You think lower prices will attract thousands of buyers even if they have no use for it

Adopting any one of the mindsets or dropping your price too soon will result in lower revenue Many apps are being sold at two to four times.99 price Base your price on the time and money you put into it and the size of the buying market At.99 there is no guarantee that you'll make it into the top 100 apps category Making it into the top 100 category gets more difficult by the day as more and more apps are added to the store Be patient--it will take time to build a brand and start making money

Setting Your App's Price Price high initially and measure results....pick the high end of a price range....have the features to justify price Research price range in your category and price yours somewhere in the middle Price low and make it up on volume

BREAK-EVEN ANALYSIS

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