Last month I tried an experiment, lowering the price of Tweet Library for the first time in 2 years. It wasn’t selling well and I wanted to do something to determine if I was just stubbornly pricing it too high or if there was a deeper issue with the quality or marketing of the app. So let’s follow up on whether this was a success or not.
Here’s the graph of revenue for a 2-month period: one month before the price cut and one month after. There was also a new version released about a week after the price cut, but it didn’t appear to have a significant impact on sales.
Downloads were up 175%. Profit was up 40%. My gut feeling is that I should have dropped the price to $7.99 instead of $4.99, but I’m wary of changing anything again right now. We’ll see what next month looks like.
