How to choose the best pricing strategy for your Mobile App Project?
When every person carries a mobile phone with them then it’s unnecessary to not include it in your marketing strategy. Mobile applications are popular because of their easy accessibility. You can use services from anywhere and anytime, with just a few tabs.
In this article we are going to talk about ‘How to choose the best pricing strategy for your Mobile App Project’ but first we need to understand mobile apps pricing techniques.
Types of Mobile Apps
Free App
Free Apps are those that have all access without any pay. Users can download these free apps from the play store to use provided services. These free apps attract mass audience attention thus increasing mobile traffic. Advertisements are the main source of income for these free apps.
Freemium App
These apps are free to download however you have to pay additional money to unlock certain features. Freemium Apps are free to download from the play store and other app sources. Users can still access free features. If they want to access premium features, then they have to pay a certain price.
Paid App
Paid apps require payment to download. A user only has access after making payment of a certain amount set by app developers and then they have full access to the app features. The main source of income comes from these app purchases, however, users of these apps are lesser than free apps or freemium apps.
Paidmium App
Paidmium App is those where a user has to make payment to download these apps and further access additional features. You must have seen these features in the gaming app, where you first buy a game and then make further payment for gaming items.
Best Pricing Strategy
Set pricing according to Investment
Set a price, taking into consideration how much money you have invested in app development. It depends on what your app offers. If you are planning to sell products and items you must set it at a lower price to get more people’s attention. Later you can set premium features to make additional money.
Don’t make your app expensive in greed to make more money. Only when you sell quality features or products that require expensive money, set your app premium.
Understand the objective of your mobile app
What is your App objective? Ask this question while designing any app to help you to make the best pricing strategy. Are you making it to an online store or does it provide services that no other app can provide?
Understanding how much your app is unique or common helps to set a price for your service. If it is very common, then start with building scrutiny around it by making it free, when we build a strong fan base later you can shift it to paid feature.
Social apps are best as free apps
Social media apps require the presence of a mass audience to make them work. That’s why a free app or freemium strategy works best for it. Many popular social media apps like Facebook, Instagram, tinder, used this strategy to first make a huge fan base.
If you start social apps with price then there is less possibility that people simply download it to talk to other people, where there are plenty of apps that do the same, but free.
Raise price according to your audience needs
Audience needs play an important part in structuring your marketing strategy. After launching the app when you notice positive feedback, be brave and take steps further. People love free but that doesn’t mean you should set prices for your valuable service.
If your product/service is something unique and extraordinary, people will pay for it. Certain apps don’t have large audience gatherings like social apps, but they make profits more than them, because of their premium feature.
Paidmium works best for gaming apps
If you are thinking about launching a gaming app, then there is a high chance of taking it to premium. There is a market for game lovers, who don’t hesitate to pay price for access to additional features. If your game is addictive enough you can grab the audience’s attention easily and make money out of it.
Conclusion
Choose the best market strategy that helps you gain profit. By understanding your audience and app objective you can overcome the barrier of pricing. Some apps work best by getting lots of people’s attention while some need original features. So, make the right choice and get the most out of it!
