Speech Central has distinguished itself as an affordable, high-quality text to speech app by focusing on two primary factors: smart marketing investments and efficient server costs. In this blog post, we will delve deeper into the math behind Speech Central’s success, providing a detailed breakdown of how the company achieves affordability while maintaining top-notch user experience.
The Smart Marketing Approach
Speech Central’s marketing strategy is centered around innovative, low-cost marketing solutions to acquire users. This allows the majority of the value that users pay to be directed towards the app’s development, rather than financing costly ad campaigns.
In comparison, competitor apps often allocate a significant portion of the price users pay towards advertising. For example, Voice Dream Reader runs ad campaigns on the US App Store. With Apple’s developer panel suggesting bids above $2 per click to be competitive for text to speech app ads, and the average click costing around $2, let’s examine the user acquisition cost for Voice Dream Reader:
- Assume a conversion rate of 10-20%, which means that only 10-20% of users who click on the ad will actually purchase the $30 app.
- With an average cost of $2 per click, the cost of acquiring a user ranges from $10 to $20 ($2/click * 5-10 clicks).
- Considering that Apple takes a fee from the price, the developer receives $25.5 from each purchase ($30 – 15%).
- In this scenario, most of the money users pay goes towards ads rather than the app itself.
For free-to-download apps like Speechify, the costs of user acquisition can be even higher:
- Assume an initial conversion rate of 20% or higher for app downloads.
- The app must still convert users into buyers, leading to ad acquisition costs ranging from $50 to $100 per buyer.
Efficient Server Costs
Speech Central further reduces costs by employing innovative solutions to lower server expenses. While competing apps like Speechify have server costs consuming a substantial portion of their budget, Speech Central uses cutting-edge technology and intelligent decision-making to minimize server costs without sacrificing the quality of the user experience.
Speech Central’s affordable, high-quality text to speech app is the result of the company’s commitment to delivering maximum value to customers. By focusing on smart marketing strategies and implementing efficient solutions for server costs, Speech Central can provide a superior user experience at a fraction of the price of competing apps. Comparing Speech Central’s price and features to other apps will reveal the impressive value it offers to its users.