Is paying for Advertising worth it?
My app has had an ok run so far. I managed to get a few blog mentions a while ago and for a time sales were good. However as the weeks have gone by the sales have been waning besides the atypical update spike. Nowadays, my sales have more or less settled in the abyss of 0 to 1 a day.
I felt the cause of this was simply that a lot of people haven't heard of my app. I didn't expect anyone to keep write about an app that's been around a while, so the only way I could think of raising awareness was paying for advertising.
I did some advertising on Google Adwords, Admob, iPhone review sites and got pretty much the same result from all three: More sales, good reviews but not enough to cover advertising costs. It ended up being like 5 sales (at $.99) for every $30 spent.
I'm kinda stuck on what I should do next.
The "Spock" side of me says: Negative ROI. You are losing money by doing this. Stop right now. It is not logical. No Win.
The "Kirk" side of me says: People are now hearing about your product, they are buying it and giving good ratings. You are building good value for your brand. If you stop, you won't loose money, but you won't make any money either. I don't believe in the no win.
I dunno who to listen to...any thoughts?
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