Candy Crush Saga is a free-to-play app, but it still generates daily revenue of US$1.3 million just from its iOS version! 1
This tells us there is phenomenal money to be made even from free apps – you just have to be smart about it.
There are 3 major monetization models for app developers to choose from and to generate revenue, namely: pay-per-download, in-app purchases, and advertising. Free to download apps makeup over 90% off the app store, people are reluctant to pay for an app where a free one is available readily. Some reports suggest that only 1.9% of mobile gamers actually make in-app purchases. In contrast in-app advertising is growing continuously, 62% of mobile game players regularly choose to engage with a video ad for an in-game reward. The bottom line on In-App Advertising is that as the model continues to evolve it is seen to be the driver of total app revenue.
While making the choice to monetize through in-app advertising, developers need to keep in mind the following:
1) Avoid disruptive ads
- Intrusive mobile ads turn off the user. Banner ads and pop up static ads are a big no-no
- With short attention spans today, your content will lose value with disruptive ads
- It may inadvertently force the user to leave the app altogether
2) Focus on targeting and segments
- Embrace segmentation to harness knowledge about your users
- Use that information to urge them to spend money
- With segmentation, you can divide your users based on location, profile information or behavior to target them with relevant ads
3) Opt for one ad mediation SDK over multiple SDKs
- Having too many SDKs adds to the complexity of managing them
- Not only does it require constant maintenance, but also the time and effort that goes into development are huge
- The answer lies in ad mediation that has the power to integrate multiple mobile ad networks into one platform to maximize revenue
4) Pick the right ad mediation partner
- Try the ad partner’s demo to see if it is in sync with your requirements. Use their dashboard
- Figure out how many mobile ad networks do they work with. Check if they are GDPR (General Data Protection Regulation) compliant
- Evaluate if they provide viewability measurement and third-party integrations
5) Try virtual currency
- Saw Ready Player One? Then you know how important virtual currency is to win
- Gamers have to earn virtual currency by playing more, installing additional apps or watching a rewarded ad
- Gamers need special powers/weapons to get ahead in the game, and rewarded ads work perfectly here
For all mobile app developers, get creative. If you have a great product and use these techniques, nothing can stop you from becoming the next big phenomenon.
To Download Chocolate Ad Mediation SDK, Click Here.