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GOLD! How I lean startup’d my way to $240k+ on the saturated App Store

Discussion in 'Business Models, Niches, Industries' started by Rcaraway1989, May 22, 2017.

  1. LeoistheSun
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    LeoistheSun Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I'm familiar with SaaS pricing. It seems that the pricing on the app store is lower than if you had a SaaS app. @eliquid have you built an app?

    My question is (I guess) what kind of value do you need to give to be able to charge .99-3.99$/mo. ?

    Just wondering also, what has been the highest monthly price you've witnessed for an app?
     
  2. eliquid
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    eliquid ( Jason Brown ) Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    I have, but not public so I can't really dive into pricing for the store.

    However, when it comes to value.. you have to meet and exceed what the user expects. What's the current marketplace look like for current competitor of the proposed app? Take their value and times it by 10 and there you go.

    Go break some kneecaps now.

    .
     
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  3. Mazalof
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    Mazalof Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    This is an inspiring example of taking a 'lean' approach. I can really relate to your earlier failures and have also spent far too much time perfecting apps that it turned out nobody wanted.

    Pleased to say that I've since been somewhat more successful (i.e. paying customers!) but there is much more to learn and I can take a lot from what you have shared here. Thanks again.
     
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  4. LeoistheSun
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    LeoistheSun Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    @Rcaraway1989 I would really like to use your lean app approach.

    Can you talk more about your comment as to the monthly fee and where the App Store is headed. Also did you release your app on Android and Apple?

    I'm going to assume that to be able to charge a monthly fee even if it's only $0.99, you would need to have an app that is providing ongoing value perhaps through updates of some kind?

    If I was to take a $60 book and condense it into an app, is this something that I could charge monthly for or is it a one-time thing? Maybe I'm not being specific enough.

    Thanks for your reply :)
     
  5. gouhst
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    gouhst New Contributor Read Millionaire Fastlane

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    Not Rob but was reading this thread and wanted to reply.

    In my experience with developing apps (1 iOS app, making about $100/mo) the App Store (and maybe Google Play Store) is very much headed in the freemium direction: where apps are free to download and use, but you have to pay within the app for an upgrade to use more advanced features, buy new content, etc.

    For a subscription model, yes your product should provide your customers ongoing value of some kind (why else would someone want to pay $X a month?). As a result, a book condensed into an app, if that's your app's value, should be sold for a one time price. If your app's value is "we condense X books every month so that they're readable in our app", then subscription pricing makes a lot more sense.
     
    Last edited by a moderator: May 17, 2018
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  6. Brindas Andrei
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    Brindas Andrei New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Man, you should have asked money for this info. Sell a book, a course, anything :D

    Congratulations for your process. I found it very encouraging. Thank you very much!
     
  7. cp_24
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    cp_24 New Contributor

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    Thank you very much for sharing your story. It realy inspired me and now i also think about developing an app and learn how to code.:clench:
     

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