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How Much Should You Charge For Your Mobile App?

According to Statista, there were over 170 billion app downloads in 2017 alone, while it looks as though 2018 could actually better that figure.

So, there’s little doubt that the development of an app will open your business up to a fairly sizeable new audience. Providing you with the ability to send push notifications and act as a constant reminder of your brand, an innovative app will allow you to connect with customers like never before.

However, there’s one big problem here: the Google Play and Apple stores currently hold millions of other apps, all wrestling for the same users and online space. Of course, this means you need to make sure your app stands out for all the right reasons. But how?

Well, the first thing you need to do is figure out the answer to one very important question. How much should you charge for your mobile app?

Competitor Analysis

You’re undoubtedly dreaming of creating a cutting-edge, truly innovative app unlike anything your customers have ever seen before. Before you do that, however, you’re going to need a deep understanding of what’s worked (and what hasn’t worked) for similar apps that came before you.

A huge part of this analysis is seeing how much these other apps cost to download. Are they free? Do they cost a couple of quid? Do they include loads of in-app purchases? Although you might love the idea of creating something really special, the main purpose of your app is always going to be to generate profit.

So, you need to see how your competitors have structured their pricing to encourage downloads while simultaneously making money.

Ask Your Customers!

We can’t stress the importance of carrying out market surveys before releasing your app. Not only are they essential in finding out exactly what your customers would like to see included, they’re also the only sure-fire method of understanding how much they’re willing to pay.

There’s no point charging £3 for your app if most of your customers aren’t willing to pay more than £1.50; but then you don’t want to miss out on profit by offering it for free if the majority of people would be happy to pay. Ultimately, the only way you’re ever going to find out this information is by straight-up asking your target audience what they think.

What Does Your App Do?

It all depends on what your app does, how it operates and what users are going to get out of it.

The vast majority of downloaded apps are some sort of game or social media platform, but we imagine that your app offers something very different. So, it’s up to you whether you want to charge for the initial download, and it’s completely dependent on what your business wants to gain from developing an app.

Offering the app for free will undoubtedly increase the number of downloads, but will undoubtedly involve some kind of advertising or in-app purchasing for you to make money. Charging for the initial download might put off some people, but allows you to appeal to users genuinely interested in your brand.

At the end of the day, it all depends on what will prove more profitable and productive for your business.

How Much Will App Development Cost?

Obviously, when coming up with a pricing structure for your app, you need to consider how much the app will cost to develop. After all, it’s only going to be worth your while if it’s likely to prove profitable.

Development costs will vary between agencies and depend on the requirements of the client. However, if you’re looking for the best app developers Manchester has to offer, then get in touch with VisionSharp to find out how we can help you dominate the app stores!

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