For people, it is sometimes tough to earn money via mobile apps. Every mobile developer is bothered about the same. Developing an easy to use app is the first step towards successful mobile application development.
Selecting the proper monetization model for an app is usually one of the difficult decisions to be made. Mobile developers are in search for more revenue without compromising the user experience as well as the quality of their app.
Here, in this blog post; we will reveal some of the mobile monetization models which are available here. It focuses mainly on mobile advertising models that seem to be quite popular among the mobile developers nowadays.
When it comes to mobile advertising; one of the widely used monetization models is mobile ads. A big debate is going on based on ad methods and tactics, compromising user experience level as well as revenue effectiveness.
Many overflowed terms like as eCPMs, fill rates, CPI as well as CPA, CTR and others. What developers actually need?
Developers are actually looking for current mobile ad platform or a combination to find the ones that monetize in a better way. So, a developer actually needs:
- High and efficient revenue
- No compromise in user experience
- Easiness to integrate SDK
- Reduce the app’s users drop off.
- Using various methods to deliver ads to the user.
Some of the important points are listed here:
- Banner Ads: Banner Ads are one of the widely used mobile advertising methods. A banner is placed in the UI of the app. Banners are of different kinds and sizes as per the monetization platform used.
It’s up to the developer to keep the ad at right place within the app which will deliver better conversion rates. The content varies from text to rich media. Some types of banners include expandable, floating and interactive banners.
A few top players here are AdMob, iAd and Millennial Media.
- Interstitials: These are usually placed between transition points while entering or exiting mobile app. Some of these are usually rendered as full videos or big pop ups as well as other rich content.
These are usually used to drive downloads of another app or visit a website or show a video and more. These kinds of ads are generally expensive for the publishers; generate high revenue when used appropriately by developers as well as get more attention from users.
Well known players here are TapJoy, Flurry, LeadBold, RevMob, AdColony while Chartboost enables developers to cross promote directly with other apps thus providing them options to drive installs in their own apps.
- Notification Ads: Notification Ads are the most intrusive models that are widely used now days. Users get notifications for an ad without opening the app. Such models usually pay better for developers and their excessive use can really end up with lot of unhappy users of the app.
The key players here are: AirPush and LeadBold.
- Surveys: Surveys are the monetization methods for mobile and it is an emerging trend with promising feature. These are rendered as overlay within the apps and hence developers don’t have to change anything in the app’s UI as well as flow.
As we know, surveys are rendered as overlays, the integration ends up as drag and drop as well as one line code activation. Developers are paid for every completed survey through the app.
- Lock Screen Ads: Ads on smartphone screen is one of the latest emerging trends. Users can choose to engage with ad and if they get engaged with Ad then they are paid real money. The downside approach to this is that these platforms can focus on Android only.
- Virtual and Real gift Rewards: The app users must be rewarded for achievements, tasks completed and for using apps with virtual or real gifts. The key players here are Kiip and Avocarrot.
There are other such mobile monetization models for ads out which are not listed in this article like as Audio ads, Capture forms, app icons and Widget Ads.
If you follow the paid application approach model, developers must specify the price for the app which users will have to pay upfront. The app with higher price doesn’t reflect revenue. With a paid app; a developer gets new customers with higher expectations as compared to that of regular mobile app user.
One such notable fact is users don’t pay for apps from new developers and then are forced to buy from well established ones.
As compared to cross platforms, this model is widely successful and is used on iOS instead of Android application platform where users seem to prefer to use free apps.
- In app Purchases: Whenever you download an app, you might have found some notice like: Offers In app Purchases. Here, the developer offers basic app features for free and then requests for a price to be unlocked.
This is a flexible model which can be used with free as well as paid apps. Various types of in-app purchases exist. The in-app purchases can be used to unlock to a new level and get new features or unlock any weapon in the game and receive update as well as others.
Quality, useful and engaged apps can be used with this model.
- Subscriptions: This model works by distributing the mobile apps for free. The user has to login into the app using an account that is charged for the service offered. The model works for delivering the live feed data to the user in exchange for a monthly payment fee.
This kind of model is used in combination with web solutions which usually requires many efforts from developer side as well as customer side. Selecting the right monetization model for an app is one of the key choices for success.
The right choice is based on app’s content, quality as well as engagement potential. In most of the cases, traction is the place that plays a significant role in app monetization.
Wind Up:
Try any of these monetization app models and earn money. Let us know if you have some more app monetization models through which you can earn income. For more such tips about mobile apps, stay tuned with Platinum SEO; Mobile App Development Melbourne.