How are you deciding on your pricing strategy?
Hi my fellow mobile devs :)
The topic of monetizing your product is always exiting and I wanted to know how you guys are dealing with your pricing decisions?
Deciding on your initial pricing is, of course, a unique problem, but even if you managed that one, how do you determine whether your prices are too high or low? And how frequently are you adapting your prices?
I mean every customer values a product differently, so there will always be that one guy complaining about prices. So I would be interested in how you're dealing with that.
For full disclosure, I was an mobile developer myself, and this part was always troubling me and holding me back from pushing my core product. That's why I startet a service (Mage) with my co-founders to relief this pressure of other developers.
Pricing & mobile app business model analysis is interesting to me. I added IAP to my iOS app, just 1-time payments and left it 50% for several months & when it went back to the regular price I was surprised to see a lot more sales at the premium price.
Mage looks pretty interesting, how long have you all been working on it? Will you have case studies to share at some point?
For our team, we were going back and forth a lot between a freemium plan vs. a subscription model. We decided at the end to go subscription model (especially with all these new subscription type streaming services coming out) with a free month trial.
We priced our plans accordingly and even added a lifetime plan for users that hate recurring payments. We’ve only been in market for ~3 months and already our lifetime plan is outselling our monthly.
Price can be tricky since ideally we want to be able to offer our services for free. However, that would mean we would have to do a pay wall, add in ads, or find other sources for revenue and that’s a weak pricing structure.