Would this monetization strategy for social app is profitable?
Hello. I’m creating social app with in-app purchases.Virtual currency - coins (credits).You can use those credits for some services, or you can
Hello. I’m creating social app with in-app purchases.
Virtual currency - coins (credits).
You can use those credits for some services, or you can cash out them.
I set prices accordingly.
Buying coins:
100 coins = 1$
500 coins = 4$
1000 coins = 7$
5000 coins = 30 $
10000 coins = 55 $
Invite a friend:
(I’m also giving some points for inviting a friend to download the app and make a transaction with other user)
You will get coins if a friend will make a transaction with other user, not only downloads the app (for this you wouldn’t get points)
I assume that: 1 friend invitation (and he/she makes a transaction) gives me 1–2$ in profits.
You will get 100 coins for every friend who downloads the app and makes a transaction.
Cash out coins:
(if you want to cash out coins into money, i’m using lowe conversation rates)
500 coins - minimum
500 coins = you will get 2$
1000 coins = 4$
5000 coins = 20$, etc..
How I can calculate the profit formula, if I assume that giving 100 coins for invitation brings me 1–2$ in profit (let it be 1,5$ to be exact).
Thanks.
or:Hello. I\u2019m creating social app with in-app purchases.Virtual currency - coins (credits).You can use those credits for some services, or you can cash out them.I set prices accordingly.Buying coins:100 coins = 1$500 coins = 4$1000 coins = 7$5000 coins = 30 $10000 coins = 55 $Invite a friend:(I\u2019m also giving some points for inviting a friend to download the app and make a transaction with other user)You will get coins if a friend will make a transaction with other user, not only downloads the app (for this you wouldn\u2019t get points)I assume that: 1 friend invitation (and he/she makes a transaction) gives me 1\u20132$ in profits.You will get 100 coins for every friend who downloads the app and makes a transaction.Cash out coins:(if you want to cash out coins into money, i\u2019m using lowe conversation rates)500 coins - minimum500 coins = you will get 2$1000 coins = 4$5000 coins = 20$, etc..How I can calculate the profit formula, if I assume that giving 100 coins for invitation brings me 1\u20132$ in profit (let it be 1,5$ to be exact).Thanks.
