App Store Localized Pricing: How Adapting Prices to Each Market Can Drive Growth
Localized Pricing - The Game Changer
Developers are silently adopting localized pricing strategies to maximize their revenues across the globe. There is a tectonic shift that is happening in favor of localized pricing.
Apple’s Price Points: Free Run for Developers
In 2023, when Apple increased the App Store price points from 90 to 900, developers were free to set custom prices according to the geographic markets. This singlehandedly let the developers adjust the pricing part as per the local markets and better their price positioning game.
Google Play - The Pricing Experimentation
When Google Play started toying around with pricing, developers were the first ones to benefit. They could potentially now set the price levels based on respective markets across the globe.
That was Huge!
Right from conversion rates, and repeat purchases to LTV (Lifetime Value), everything witnessed an unprecedented amount of growth. All of this, while upholding the importance of setting optimal prices. The basis of all of this is a simple concept - Local Purchasing Power.
Long Way Ahead - Challenges
Localized Pricing largely remained manual, creating roadblocks for scaling up. It continued to be a time-consuming manual task with very little ROI. It was painstaking to set prices based on regions, products, and market conditions. Owing to the sheer complexity of the process, localized pricing remained largely inaccessible.
The Solution: Automating Localized Pricing with SurgeGrowth
SurgeGrowth changed the game by automating the process of setting up individual prices based on regional purchasing power. SurgeGrowth began streamlining bulk price adjustments. This not only started saving tons of man-hours for developers but also equipped them with the time and temerity to work on optimized offers that were dynamic.
Conclusion: Embrace Automation for Effective Localized Pricing
There is no doubt that you need to switch to Localized Pricing to maximize your revenues. You cannot have a flat fee/price for your product/service. SurgeGrowth takes out all the hassles involved in the process and ensures that your price aligns with the existing market conditions, something that could change your business prospects forever!
Today, due to platforms like SurgeGrowth, localized pricing is not only affordable but also a hassle-free process that businesses across the globe are deploying to improve conversions.
Reference
- Apple Developer Documentation. (2023). App Store Pricing Update. Retrieved from https://developer.apple.com.
- Google Play Developer Console. (2023). Pricing Experimentation Tools. Retrieved from https://play.google.com/console.
- McKinsey & Company. (2023). The Power of Pricing in Global Markets. McKinsey & Company. Retrieved from https://www.mckinsey.com.
- World Bank. (2023). Global Economic Prospects: The Role of Purchasing Power. World Bank. Retrieved from https://www.worldbank.org.
- App Annie. (2024). State of Mobile App Pricing. App Annie. Retrieved from https://www.appannie.com.
