Make the free translation something more popular, like the ESV or the NIV. Few people regularly use the KJV anymore, which means that they are required to spend money to use this app. Or, if possible, make all translations free with the purchase of the app at the original price of $5.
We'd absolutely love to do this. As you mentioned, that model is how we started. Unfortunately, it is because we could not license translations like the NIV that required us to switch to offering the base app for free with a free translation (KJV) and then charge for other translations.
Unfortunately we're faced with the catch-22 of either having limited translations, but all included in the price of the app, or having to charge for each translation individually. In fact we're actually taking a bit of a back seat to the publishers by not charging for Verses itself. If we were to "ask for our due" then it would actually be justifiable for us to charge for our work (Verses) and then let publishers charge again for theirs (the translations). We realized, however, that most folks would think that Verses was charging for both.
Instead we opted to forego charging directly for own work and rather allow publishers to charge and then offer Verses a portion of the price.
We'll probably have to stick to this model for the foreseeable future.
Thank you very much for using Verses and taking the time to send us your thoughts!