“A Guide to Behavioral Economics for In-App Purchase Pricing” details the strategies and best practices needed to optimize in-app price points successfully
NEW YORK CITY — wappier (https://wappier.com/), the Intelligent Revenue Management platform for apps and businesses, announced today the release of its Guide to Behavioral Economics for In-App Purchase Pricing. Written for mobile app developers seeking an in-app purchasing strategy rooted in the principles of behavioral economics, this downloadable e-book outlines several effective best practices that will help app publishers assign prices that best fit their app while meeting user expectations. The guide is now available for download from the wappier website at https://resources.wappier.com/in-app-purchase-pricing-strategy.
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. To maximize revenue in a highly competitive field, mobile developers need an IAP purchasing strategy that accounts for each user segment. 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 such as psychological pricing techniques, A/B testing and personalized in-app offers so developers can maximize revenue from loyal, paying customers.
“No mobile developer can afford to neglect their in-app pricing strategies in 2020,” said Alex Moukas, CEO of wappier. “Thankfully, behavioral economics lets us attract paying customers to in-app storefronts by engaging their interests and putting forward attractive offers. Our hope is that wappier’s in-app pricing guide will show developers how easy it is to implement these principles into in-app storefronts while cultivating customer engagement and loyalty.”
As an intelligent revenue management solution for mobile developers and marketers, wappier is in a prime position to lend its expertise on in-app pricing strategies. The wappier platform analyzes over two billion data points per day to model and predict consumer behavior with a high degree of accuracy. These insights let wappier clients optimize in-app pricing, maximize revenue, and extend the lifetime value of dynamically-generated audience segments. 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 data expertise.
wappier uses AI and machine learning to help mobile app developers pinpoint new revenue opportunities, deliver real-time personalized offers, and boost player loyalty. The platform enables developers to identify broad stroke trends in a single glance, then apply predictive analytics to every user interaction. The company also helps its partners optimize pricing, both at the country and user level, and craft custom loyalty programs to maximize retention. By tracking and analyzing more than 2 billion data points every day, wappier’s powerful and intuitive intelligent revenue management platform empowers mobile app developers to uncover insights that increase IAP conversions and drive growth. For more, visit wappier.com.