YHadari
New Contributor
- Joined
- May 14, 2014
- Messages
- 18
Rep Bank
$110
$110
User Power: 50%
Hey everyone!
On December 7 I launched my first product, a mobile app on iOS meant to help dentists with diagnosis and treatment planning. I priced the app at $14.99 since that was the pre-order package price I was charging my early adopters to raise the money while I was building the app.
I'm going to post another thread about how to fix my online presence, but now my concern is pricing. Downloads have been in the two-digits, and after some reading it's apparent I wasn't following the right pricing strategy. Here are my options:
A:Keep the price the same and focus on fixing my online presence and marketing, then play with the price when I have a following
B:Lower the price now, either drastically or mildly, and see what happens
C:Make it free, get sites and users to review it like crazy and monetize with ads and habit-creating features when I have lots of downloads
Option A Pros:
-Price expresses belief in product
-Chance to focus on online presence and creating a following
Option A Cons:
-App Store users wary of paid apps, will need lots of convincing & brand loyalty to download (case in point with my main competitors that are big companies)
Option B Pros:
-Chance of higher downloads due to lower price
Option B Cons:
-Shows lack of belief in product
-Early adopters will feel cheated
-Same issue as option A, downloading a paid app is a longer decision making process
Option C Pros:
-Lots of downloads
-Lots of reviews who will push app store traffic
Option C Cons:
-Shows lack of belief in product
-Early adopters will feel SCREWED
-very delayed gratification when I monetize with ads after lots of downloads
Anyone have experience with this thing? I welcome all kinds of advice. Those pros and cons are based on perception and don't have much evidence base behind them aside from articles I read about app pricing, so I want comments from people who've been in the trenches and how their strategy succeeded or failed. I'll post another thread about how to defibrillate my online presence. Thanks.
On December 7 I launched my first product, a mobile app on iOS meant to help dentists with diagnosis and treatment planning. I priced the app at $14.99 since that was the pre-order package price I was charging my early adopters to raise the money while I was building the app.
I'm going to post another thread about how to fix my online presence, but now my concern is pricing. Downloads have been in the two-digits, and after some reading it's apparent I wasn't following the right pricing strategy. Here are my options:
A:Keep the price the same and focus on fixing my online presence and marketing, then play with the price when I have a following
B:Lower the price now, either drastically or mildly, and see what happens
C:Make it free, get sites and users to review it like crazy and monetize with ads and habit-creating features when I have lots of downloads
Option A Pros:
-Price expresses belief in product
-Chance to focus on online presence and creating a following
Option A Cons:
-App Store users wary of paid apps, will need lots of convincing & brand loyalty to download (case in point with my main competitors that are big companies)
Option B Pros:
-Chance of higher downloads due to lower price
Option B Cons:
-Shows lack of belief in product
-Early adopters will feel cheated
-Same issue as option A, downloading a paid app is a longer decision making process
Option C Pros:
-Lots of downloads
-Lots of reviews who will push app store traffic
Option C Cons:
-Shows lack of belief in product
-Early adopters will feel SCREWED
-very delayed gratification when I monetize with ads after lots of downloads
Anyone have experience with this thing? I welcome all kinds of advice. Those pros and cons are based on perception and don't have much evidence base behind them aside from articles I read about app pricing, so I want comments from people who've been in the trenches and how their strategy succeeded or failed. I'll post another thread about how to defibrillate my online presence. Thanks.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
