Monetisation is a key element when gauging the potential success of your newest app. Of course you will be focusing on creating a mobile app that offers something wonderful to the gaming community, providing crisp graphics and unbeatable overall gameplay, but unless you focus on a marketing strategy before launch, the likelihood of your success is greatly limited.
One major concern that faces many indie developers is the ability to create a well-developed monetisation strategy on a very limited budget. What many game developers don’t realise, however, is that you needn’t necessarily spend bucket loads of money to effectively monetise your app.
Read on to discover the three ways to monetise your app without breaking the bank.
- In-app Purchases: This particular type of monetisation is a great strategy for just about any app and is an excellent way to familiarize yourself with monetisation in the mobile gaming industry, particularly if you are launching your very first app. In-app purchases require very little outlay costs, however, some players can find them annoying and overwhelming if they are not strategically implemented.
- Incentivised Advertising: Incentivised Installs are one of the most cost effective methods of generating large install figures over a short period of time, ultimately leading to increased monetisation. Players are provided with a reward to install your application and so this method is commonly used by developers on launch day, in order to boost their chances of reaching a top chart ranking.
- Make Strategic Plans: Going straight for the cheapest option when it comes to monetisation may not necessarily be the best option in the long run. If you allocate a small budget for strategic monetisation, you’ll be able to make the most of what you have by creating a strategic approach, rather than going in blind.
- Interstitial Advertising, for example, has been proven to generate much greater results than simple Banner Ads. The Venture Beat “Mobile Games Monetisation Report” revealed why Interstitial Ads are so successful, saying “Interstitials, by their nature, capture the user’s full attentions on the entire screen for at least a second or two, they tend to have much higher conversions and far more video views, leading to as much as nine times higher eCPMs than simpler banner ads, as well as much higher user acquisition numbers – as much as 7X – when used for that purpose.”
So, what should you take away from our advice on monetising your app on a budget? Don’t jump in blind. Always research what methods will be the most effective for your style of app – and if you have allocated some money for monetisation, take a strategic approach and use it wisely.
If you’re still unsure of the best way to successfully monetise your new app, contact us to discuss your advertising options and the benefits of Incentivised Installs.