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Thanks! It's free for now because it's new. We want to get an initial set of users, polish the app further, and then start the monetization. Right now, I'm lea

Thanks! It's free for now because it's new. We want to get an initial set of users, polish the app further, and then start the monetization. Right now, I'm leaning towards a subscription model because it makes the most sense. I think YNAB is too pricy and a personal finance app can sustain with a $2-3/mo subscription. Is there any other monetization model that we should be looking at?

gizmo686 7y ago
How do you plan to handle the transitionfrom free to subscription? Once you price yourself at 0, it can be very difficult to convince users to start paying for what was once free. I would generally recommend avoiding having a free period entirely, and instead offer an early adopters discount as well as a free trial period. Since it sounds like you missed your chance on that one, I would look for ways to offer both a free and payed version. Again, the difficulty here is that once something is in the free version, you want to avoid removing it, so you will need compelling new feaures to make this work. You also need to make sure that the free version continues to leave a good impression. Having said that, I suspect you will find there is a reason so many companies end up monetizing through avertisements...
- tusharsoni 7y ago
  We don't plan on monetizing our existing users. As early users, they're providing their value with feedback and helping us work out the kinks. Once the app is monetized, all new users will have to go through that. Even then, I think a free period is a good idea or maybe a freemium version. The only risk with freemium version is giving away too much or too little for free.
eddyg 7y ago
Sounds good. I would definitely pay $2-3/month for a good "money" app that consolidates views in to all my spending and provides insight in to where my money is going. How does "Sign in with Apple" work if I want to share Funded with my somebody on another device that has their own Apple ID?

gizmo686 7y ago

How do you plan to handle the transitionfrom free to subscription? Once you price yourself at 0, it can be very difficult to convince users to start paying for what was once free. I would generally recommend avoiding having a free period entirely, and instead offer an early adopters discount as well as a free trial period. Since it sounds like you missed your chance on that one, I would look for ways to offer both a free and payed version. Again, the difficulty here is that once something is in the free version, you want to avoid removing it, so you will need compelling new feaures to make this work. You also need to make sure that the free version continues to leave a good impression. Having said that, I suspect you will find there is a reason so many companies end up monetizing through avertisements...

tusharsoni 7y ago
We don't plan on monetizing our existing users. As early users, they're providing their value with feedback and helping us work out the kinks. Once the app is monetized, all new users will have to go through that. Even then, I think a free period is a good idea or maybe a freemium version. The only risk with freemium version is giving away too much or too little for free.

eddyg 7y ago

Sounds good. I would definitely pay $2-3/month for a good "money" app that consolidates views in to all my spending and provides insight in to where my money is going. How does "Sign in with Apple" work if I want to share Funded with my somebody on another device that has their own Apple ID?