How can I find out what my app is worth to someone?
Here’s a tip: Think about the scenario in which a customer decided not to invest in your product. In this scenario, your customer ends up in a situation where they wish they’d invested in your app. How much would your customer be willing to pay to make the problem go away? To be able to go back in time and fix the problem?
Here’s my own example:
My app Soundboard Studio is $29.99 investment. It’s designed to use on live broadcasts, podcasts and stage productions for live sound playback. A customer would import their music, soundtracks, voiceovers and sound effects, to play out live during their show or performance. My unique selling point is the ability to play multiple tracks simultaneously (you can play some music at the same time as a voice track for example).
So what if Customer X decided not to invest in Soundboard Studio? He/she decided to go for a cheaper (still $14.99) track playback app.
Here’s the nightmare scenario:
Customer X is part of a live theatre performance group and it’s their opening night tonight. They’ve sold out of tickets for their show, it’s going super well. Suddenly, the atmospheric background music cuts-out, everybody notices, the actors stumble. Suddenly the production seems much less professional.
If they’d invested in Soundboard Studio, that wouldn’t have happened. All os a sudden $29.99 doesn’t seem like a lot of money.
Customer X isn’t necessarily going to lose any money directly because of that mistake, but I bet he/she would pay $29.99 to be able to go back in time and fix that problem.
Here’s an email from a customer thanking me because my app is only $29.99.
I’m a live sound engineer and video editor and this app peaked my interest. I hate CDs and linear editors are deadly on live shows. I use hardware options but they are pricy. This will put units like “instant replay” out of business. A $25 app does what a $1800 unit does and does it better because I can control the quality of the recording used for playback. With this unit you have to record directly into the unit live. No loading from a PC. You must have spoken to some pro engineers because this app is like robbing a bank for me. Thanks for doing this.
This is an example of my perfect target customer. Here’s why:
- He’s a professional live sound engineer, that means he makes money and earns his living as a live sound engineer.
- He invests $1800+ on professional equipment.
- He’s experienced and know what matters to his work.
Make your app a “no-brainer” solution
When you’re a professional and you’re already investing thousands of dollars in hardware, a $29.99 app is a no-brainer investment. Soundboard Studio is 98% cheaper than hardware offering the same features.