At this year's annual Google developer conference, Google unveiled in-app price experiments, a new powerful tool integrated into Google Play. It allows app marketers and developers to test and optimize in-app product prices based on local purchasing power, reaching new buyers and maximizing conversions.?
Here are 5 reasons why you need to start experimenting with your in-app pricing strategy:?
- Find optimal pricing for a specific market. Conduct A/B tests to find the ideal local pricing for different markets. Adjust prices globally within Play Console, attracting new buyers and boosting repeat purchases.
- Rely on data in your monetization strategy. By tracking your experiment progress and determining statistical significance, you can gain insights into monetization metrics. It will help you to refine your global monetization strategy based on buyer behavior.
- Improve user acquisition ROI. Localized pricing and understanding market-specific buyer behavior can help you optimize your user acquisition strategy and inform product features on Google Play.
- Easy setup of pricing experiment. Last but not least, setting up experiments in Play Console with defined products, target markets, and price points is really easy. Moreover, you can apply winning prices without coding changes.
- Available Learning Resources. Google has also prepared strategic guidance for data-driven insights and a special Play Academy course on running effective pricing experiments.?
Take advantage of the new Play Console feature to fine-tune your in-app pricing, optimize user acquisition, and unlock new monetization opportunities. Start running experiments today & boost your app revenue!
