In today’s app economy, almost 50 percent of all revenue comes from in-app purchases (IAP). IAP spending within the App Store and Google Play storefronts account for billions of dollars annually.
We at wappier, leverage machine learning to help mobile app developers pinpoint new revenue opportunities, deliver real-time personalized offers, and boost payer conversions.
While data driven approaches are critical to maximizing revenue, there are a lot of other factors that come into play that influence pricing decisions beyond the actual price point. To maximize revenue in a highly competitive field, mobile developers need an IAP pricing strategy that accounts for player behavior and segmentation. This in-app pricing guide helps developers forge strategies grounded in behavioral economics, such as anchoring, decoy pricing, social validation, mental accounting, and more. It also highlights effective best practices and tips for designing offers so developers can maximize revenue from loyal, paying customers.
As a provider of an intelligent revenue management solution for mobile developers and marketers, we are in a prime position to lend our expertise on in-app pricing strategies. Our platform analyzes over two billion data points per day to model and predict consumer behavior with a high degree of accuracy. These insights enable our partners to optimize in-app pricing, maximize revenue, and extend the lifetime value of their players. A Guide to Behavioral Economics for In-App Purchase Pricing summarizes these lessons in an easy-to-follow format that can be shared among developers with any level of monetization expertise.
You can download Guide here.
