Hello. I’m creating social app with in-app purchases.
Virtual currency - coins (credits).
You can use those credits for some services, or you can cash out them.
I set prices accordingly.
100 coins = 1\$
500 coins = 4\$
1000 coins = 7\$
5000 coins = 30 \$
10000 coins = 55 \$
Invite a friend:
(I’m also giving some points for inviting a friend to download the app and make a transaction with other user)
You will get coins if a friend will make a transaction with other user, not only downloads the app (for this you wouldn’t get points)
I assume that: 1 friend invitation (and he/she makes a transaction) gives me 1–2\$ in profits.
You will get 100 coins for every friend who downloads the app and makes a transaction.
Cash out coins:
(if you want to cash out coins into money, i’m using lowe conversation rates)
500 coins - minimum
500 coins = you will get 2\$
1000 coins = 4\$
5000 coins = 20\$, etc..
How I can calculate the profit formula, if I assume that giving 100 coins for invitation brings me 1–2\$ in profit (let it be 1,5\$ to be exact).
Thanks.