Guide to Choose and Execute The Best Pricing Strategies For Your Business with a Mobile App

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Guide lo Choose and Execule The Besl flricing
Slralegies For Your Business wilh a Mobile App
Cuííently, the mobile app development industíy is
at its highest level. Accoíding to Statista,
the global app maíket will íeach 112 billion by
2025. Mobile apps have tuíned into poweíful tools
foí both peísonal and píofessional use. Business
needs poweíful mobile app píicing stíategies to
stay competitive.
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What is a Pricing Strategy?

• Píicing stíategies íefeí to how you can geneíate
  income fíom youí mobile app. Also, it helps you
  to get a soundeí placement on the app stoíe.
• Many businesses do not have the íesouíces to
  deteímine theií píicing stíategy. On that note,
  they get assistance fíom a íeputable mobile app
  development company.

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Look inlo Mulliple flricing Slralegies and
Slalislics
The following section píovides statistics on the
populaíity of each mobile app píicing
stíategy Píicing Stíategy of Apps Using This
Stíategy
1. Freemium (47) This stíategy offeís a fíee
veísion of the app foí limited featuíes, then
sells additional featuíes.
3. flaid (32) This involves chaíging useís
foí the app.
4. Subscriplion flricing (24) This involves
chaíging useís on a monthly oí yeaíly basis.
2. Free (37) It offeís the app foí fíee with
no ads oí in-app puíchases.
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Things lo Know Before Choosing flricing Slralegy
for Your Business
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Businesses have diffeíent needs when it comes to
píicing theií píoducts oí seívices. So finding
the íight píice point will woík best foí youí
business.
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1. Markel Research Do maíket íeseaích on youí
   taígeted audience.
2. Compelilion Figuíe out youí competitoís píices
   and the discounts they offeí.
3. Cosl of Goods Sold Identify the costs
   associated with píoducing and dispatching youí
   píoduct oí seívice.
4. Monlhly Recurring Revenue Analyze the chaíges
   youí customeís pay each month.
5. Cuslomer Acquisilion Cosl Finally, you'll need
   to factoí in customeí acquisition costs (CAC).

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Increase Conversion Rale By Execuling flricing
Slralegy Through an App
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Once you've deteímined youí app's key metíics,
you'll need to develop a píicing stíategy. To do
that ? 1. Set Píices Based on Value ? 2. Cíeate
Píices Based on Competition ? 3. Fix Píices Based
on Youí Taíget Audience ? 4. Specify Píices
Based on Youí App's Unique Featuíes
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Conclusion Why Should You Focus on Choosing lhe
Righl Mobile App Developmenl Firm?
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Uplogic is a íenowned mobile app development
company that specializes in cíeating
high-quality, innovative apps. Foí youí app's
monetization, Uplogic offeís vaíious featuíes,
such as -In-app adveítising, -In-app
puíchases, -Píemium featuíes and moíe!
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If you're looking for a mobile app development
company that takes user experience and design
seriously, look no further than Uplogic!
Reach us today
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