- The survey showed some interesting facts: women would pay 20% more than men for Google Maps, Facebook and Pinterest, and millennials would pay 78% more for Instagram and 42% more for Google Maps than baby boomers.
- The five apps users are least willing to pay money for? Facebook, Facebook Messenger, Venmo, Instagram and Twitter.
Most of the android app services remain free credits to advertisements. But what if things change and consumer is ready to pay a price for the Google Maps?
In a recent study by McGuffin Creative Group, They set out to measure the value regular users placed on 16 of the most widely-used apps, asking respondents what they’d pay if a subscription fee was required. They had the option to say they would pay nothing and discontinue use, without access to a free alternative.
The study shows some indicators to inform an ongoing discussion of how value is created and perceived in the digital age.
Doesn’t seem like much, right? Not one of these hypothetical fees would amount to more than $50 per year. (But, as you’ll see in a moment, that doesn’t mean companies couldn’t make extraordinary sums of money at these price points, given the number of users they’ve accumulated.)
The survey showed some interesting facts: women would pay 20% more than men for Google Maps, Facebook and Pinterest, and millennials would pay 78% more for Instagram and 42% more for Google Maps than baby boomers. The five apps users are least willing to pay money for? Facebook, Facebook Messenger, Venmo, Instagram and Twitter.
A Hypothetical Future
Once the data was gathered showing what consumers would pay for various apps, the comparison of each company’s current advertising revenue against what they would hypothetically earn if they charged the percentage of users willing to pay the average amount respondents established per app was done.
Per this analysis, all nine companies for which we projected revenue would stand to earn more in a hypothetical paid future. That includes Facebook, which had the highest percentage of users report they wouldn’t pay anything for the app.
There are countless factors that influence consumer behavior over time, even when a business model is static, let alone when it undergoes a change of this magnitude.
About McGuffin Creative Group
McGuffin Creative Group surveyed 2,004 consumers through a paid online market research platform. Survey respondents ranged in age from 18 to 71 years old; 55% were female and 45% male.
McGuffin Creative Group is the go-to creative partner for integrated, powerful communications that support, extend and enhance the brand you’re building.