Want to maximise your IAP revenues? Who doesn’t?
A new report from self-styled intelligent revenue management outfit Wappier is probably worth checking out then.
Functionally entitled 'A Guide to Behavioral Economics for In-App Purchase Pricing', it discusses behavioral economics to ensure developers are thinking carefully about their IAP pricing strategy, both in terms of broad principles of retailing, as well as having different pricing approaches to attract different types of users.
And taken to its logical conclusion, this means developers should also be considering personalised offers, which are generated on the basis of a user’s history with the game.
Smart use of AI
Of course, operating such a system at scale requires automation, which is where Wappier’s machine learning and AI technology - fed by 2 billion daily data points - comes into play.
"No mobile developer can afford to neglect their in-app pricing strategies in 2020," said CEO Alex Moukas.
"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."