i couldnt believe raising prices is the only way to make money from consumer apps
but this guy explained everything about why you should raise your prices and how
@_frederickjames yes the benchmark data says no trial and trial conversion to paid is so similar
for me, if i am running ads and save my mental
i wouldnt put the trial it is better to get paid tho
I did this.
My app went from $0 to $115 MRR in 3 days.
TLDR:
- Hard paywall.
- Yearly: $49.99.
- Weekly: $8.99.
The reason:
- Free is for VC backed products.
- They can afford lose money for ~15 years. You can't.
- If you believe in your product, make it paid.
it is not about LTV in the first place cause you dont have a retention loop, even if you built a great product
people not using the app for the entire year.
first you need to claim the max revenue you are collecting, then you can care about LTV cause you are small, nobody knows you, nobody cares about you
you are not duolingo, or strava, or any big app out there..
first you need to maximize the revenue. scale faster. then care about LTV
it is not about LTV in the first place cause you dont have a retention loop, even if you built a great product
people not using the app for the entire year.
first you need to claim the max revenue you are collecting, then you can care about LTV cause you are small, nobody knows you, nobody cares about you
you are not duolingo, or strava, or any big app out there..
first you need to maximize the revenue. scale faster. then care about LTV
i was thinking about it but if you raise the weekly and get annual and lifetime (2 or 3x of annual to make the annual feel cheaper) you can charge more
for example you are doing 9.99 weekly and 39.99 for 3 months
but you can do 9.99 weekly and 49.99 annual so you can cash grab and charge more, maybe a little bit of conversion rate reduction, but revenue surely gonna go upper
i couldnt believe raising prices is the only way to make money from consumer apps
but this guy explained everything about why you should raise your prices and how