Figuring out the right price for your game can be difficult. There’s so much that may influence your decision: the personal effort you put in, the sacrifices, the cost, the time, the people who worked on it, and of course your audience! If you under price your game, you might not make enough money to offset the costs and may even give off the impression that the game is low quality. However, over pricing the game means you won’t find enough buyers! To help you out, let’s go over a few different pricing strategies that can help YOU figure out that perfect price.
Customer Value-Based Pricing
At the end of the day, it is the customers’ decision whether the price of your game is right. Customer oriented pricing involves understanding how much value players put on the benefits they receive from your game. Instead of creating a game and then setting a price, this strategy involves analyzing players’ needs and value perceptions, setting a target price, and then finally designing a game incurring costs that can actually hit a desired target price.
Although costs are an important consideration when setting a price, it is often too product-driven. This strategy involves setting a price based solely on the costs of producing, designing, and distributing your game, and then of course adding a target profit. When using this strategy it is important to note that if you want to set a high price, you’ll have to make sure your game is of high quality or make sure you have a very strong marketing strategy to convince players that your game is worth the money!
This strategy can be very helpful in determining the perfect price for your game. It involves setting prices based on competitors’ strategies, costs, prices, and games. Players tend to base their judgment of a game’s value by comparing it to similar games. I very much suggest looking at the price of games that are similar to yours! These similarities include (but not limited to) genre, the type of audience your targeting, gameplay, and even graphics.
Another strategy to consider is value-added pricing. Rather than cutting prices to match competitors, you can add value to your game with added features or services to support a higher price! For example, adding in a multiplayer option for your game and including a leaderboard are very commonly added features that can increase the value of your game to make it worth the higher price. A few other features to consider: a level editor, complimentary soundtrack, art book, hidden levels, extra items, and cross platform play! There is so much you can do, so get creative!
In conclusion, I want to make sure you all know that there really is no universal pricing strategy. It is important to consider all factors when setting a price. The important thing to remember from this is to make sure you have your customers’ values in mind. Try not to get blinded by the costs of your game or one target profit margin. Creating a price point based solely on this will not get you anywhere! Think about your customers, their needs, and their perceptions of value- in order to attract them. Do your research, make a plan, and don’t let your personal biases get in the way. At the end of the day, a good pricing strategy normally involves a mixture of all of the above! Good luck!
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