Developers pour their heart and soul into building a cool app or game. But creating a cool app or game is not enough. Creating a app is the first step into the roadmap of creating a successful application that can be monetized in a better way.
As we all know that app monetization is a step that bothers every developer. Every developer is irritated from app monetization and dislike it. But creating a cool app or game is not much enough, app monetization is the essential step for every developer. Because after a long hard working they need the full worth of their work.
Choosing the appropriate monetization model for an app is usually one of the difficult decision. There are many app monetization methods available, Some of them are quite very popular.
Just take a look what every developer actually looks in a best monetization method -
- High and effective revenue
- Not compromising user's overall experience
- Reduce app user Drop-off
- Suits a app for a better user experience
Here I highlighted some of the most important mobile monetization methods which seems to be quite popular among developers now a days -
1. Mobile Advertisement :
This is the widely used and proven model of mobile monetization. There are many ad-networks available for this monetization method. Mostly ad networks works on eCPMs, fill rates, CPI, CPA, Ctr and others. But there is a big debate regarding compromising user's experience level, revenue effectiveness, and users drop-off among various ad networks. In this method there are many models to monetize but you should be take care about user's better experience while implementing these ads. Because using this method widely can create worst user's experience.
Some of the Mobile advertisement models are -
- Banners
- Interstitials
- Offer walls
- Video Ads
- Video Ads
- Notification Ads
- Lock Screen Ads
2. Paid Applications :
But this monetization model doesn't works for everyone. Users don't pay for the apps from new developers, Users only spends their money for the apps from well-established ones.
3. Freemium :
This is the best and my favorite monetization method. In this method app's basic features are free but some of the other features are gated, Users have to pay for gated features. like if you have a game which includes many locked levels, so if the user wanna play all of the levels he needs either to play game continuously to grab some coins to unlock the levels or buy some coins to unlock the levels. So that model is called freemium.
"Candy Crush Saga" is the perfect example of this model. If you have not more lives either you have to wait for a fix time or you can buy lives by spending some money. So in this strategy if user wanna play continuously he will definitely buy lives otherwise he have to wait. A well played game, i liked this.
4. Premium(Subscription) :
This monetization model is quite similar to Freemium. But in this model all content is gated. If users wanna use the app they need to subscribe it. Subscription can be monthly, weekly or yearly.
This model can be prove milestone for developers. If the app is related to entertainment(Music, Movies etc.)
According to me this method doesn't works for games.
Let's Take a look on revenue shares according App Annie Survey:-
5. In App Purchases :
In app purchases is a flexible monetization method that can be used in both Freemiun, Premium or paid app version. This model of monetization turns your app or game into sales channel.
This method is mostly popular in games. In a game you can add some extra features, power ups and many more. if users wanna use them then he have to buy.
Here is screenshot of In App Purchases in some games -
Some of The Other Mobile Monetization ways :
This method is mostly popular in games. In a game you can add some extra features, power ups and many more. if users wanna use them then he have to buy.
Here is screenshot of In App Purchases in some games -
Some of The Other Mobile Monetization ways :
6. Sponsorship :
This is a cool idea for monetization. you can get a sponsor for your app, who will pay you for their sponsorship. Getting paid from sponsor is different from advertising. In sponsorship a company takes a little ownerdhip of your app. you can change your app's graphics according to your sponsor. This is a quite easy method for monetization. But getting a sponsor for your app or game is not quite easy, your app should be popular among users and should have good reputation to get sponsorship from a company.
7. Localization of Your App :
Localization refers to the adaptation of a application or product to meet the language cultural and other requirements of a specific target market. You can make a app targeted to the audience of specific regions.
If you have a default app for the international market, You can create different versions of your app adapted to specific regions to localize.
This step can help you to increase your user base and revenue share.
8. Native Advertisement :
In native ads you have to promote other's app or games. It can help you to make more revenue than banner or interstitial.
This advertisement method can help you to pump-up your revenue.
This method is also user friendly, so there is not any hamper on user's overall experience.
9. Selling App Data :
Analytic and advertisement companies will pay you for the data you are receiving from your app users.
You can sell relevant data to the different companies. By using this data companies can personalize their brand message and you can make more money in your hands by selling your app's data.
10. Merchandising :
If your game or app have some cute characters, offline merchandising could be a great way to extend your brand and make more revenue.
Merchandising is the biggest trend in the gaming industry. You can sell your merchandise online or offline.
This method also helps you to increase your brand recognition or reputation. Angry bird is the perfect example of merchandising.
# Summary:
These are not the all app monetization ways. I only highlighted some of the important monetization methods here. So I want to say that is you want to be expert in app monetization then you should keep learning or should start doing some new experiments. My favorite tagline is "More you experiment, more you learn" so keep learning.
That's it. If you know about some cool and different app monetization methods apart of mentioned above, Please Let Me Know About Your Unique Monetization Methods By commenting Below.
Or If you have any suggestion about my article, your most welcome you can comment below.
RECOMMENDED TO READ :
Post a Comment