my dilemma - update an existing app or release a new one?

[xtcsonik]

I have dilemma. I have an iPhone application out now that is fairly popular. I have since been working on an update to this application. Through the development, I believe we have made a huge leap forward in terms of interface, features and functionality - almost to the point that it is a DIFFERENT application. I am now wondering whether to submit this application as an UPDATE to the current one or as an entirely NEW application.

From a purely sales / rankings point of view, is there any advantage to updating an application as oppose to submitting a new application? For example, would getting 100 downloads by being on the "Released Date" list be more valuable to an existing application or a new application in terms of App Store rankings? Does it make a difference?

I could also drop the price of the existing one with less features and increase the price of the new 'roided up one. Any experiences you care to share?

[dagamer34]

Drop the price of the current app, and release the new app. If at all possible, add enough functionality to the old app that you could get people to buy both apps.

The thing about releasing updates is that it's only there to attract new customers. The people who've already bought your app are getting stuff for free. And if a significant portion of your potential market has already bought your app, releasing updates isn't going to bring lots of new sales.

That's why I think it's better to develop a "basket app" approach where it's better to develop several signally focused apps rather than a huge monolithic one. This way, you can actually get more revenue from the same functionality whether split into multiple apps or combined. Ideally, you could charge more for the monolithic app, but because of the huge price depression and the race to .99 cents, customers are adverse to spending any "huge" amount of money on digital products.