Launched iOS app

When I first launched the iOS app, I was hoping it’d provide an immediate significant revenue stream, which didn’t materialise (the company was making around £200-£400 a month from Youtube and Adsense ads). At launch I chose a one-off purchase price of £1.99 (meaning about £1.40 after Apple took their cut). We made around £1000 in the first month and then dropped to an average of around £200 a month after that. I then started to increase the one-off price and then after about 12 months, I switched to an annual subscription (for new users). Since switching to a subscription and increasing the price (now £8.99/year) the revenue has become much more significant and I’m able to fund all of the companies new initiatives with this revenue, which is great! I should have probably started with a higher price, but the app did kind of suck at first, so maybe people wouldn’t have paid for it. The main lesson I’ve learned is that the single most powerful thing you can do to increase revenue is to increase pricing, which sounds obvious, but it certainly wasn’t to me!