As more and more mobile solutions become available daily, there isn’t much you can’t do on a mobile device nowadays. So, it’s no surprise that when we look around us there are so many people who are constantly on their phones, tapping away. Thus, we decided to make a post about top tips for successful monetization, to make app publishers’ lives a little easier.
The mobile ads industry is growing at a rapid speed, and honestly, seeing how people get most of their primary information from that one tiny device, clearly, mobile advertising is not something to be overlooked. The time that people spend on apps is only increasing. eMarketer states that over 20% of all media time and 85% of mobile time is spent in-app, which is why the advertisers should take notice and spend much more time placing their ads on mobiles.
According to Forbes, mobile advertising will drive 75% of all digital spend this year, and that’s in the U.S alone. Imagine then how big the global percentage would be. Adweek shows that the trend is dominant in China as well, where the digital ad spend is 80/20 in favor of mobile ads and is set to increase in the following years.
As it is now clear how and why mobile advertising is important for advertisers, it is equally important for app publishers. Especially so, because the app economy will double by 2020 and the global revenue will reach the outstanding $101 billion according to MonetizePros. Since the majority of the apps are launched to generate revenue yet are still free apps, the developers need to find solutions on how to make revenue. Monetization through advertisements is a very effective way to generate it. Now is the part where the question “why?” appears. Well, advertising eliminates the cost barrier, thus the users don’t have to pay per download and are more likely to download your app, while you earn money from their activities within the app.
It is important to set up a monetization plan and to choose the best monetization model for your app, as that’s the crucial factor depending on which the app is either successful or not. The smart and time-saving solution is to use an app monetization platform, that way you can also reduce your operational costs. How does it work? The platform deals with the mediation of their platform and the top ad networks while optimizing your ads at the same time. This way you can focus on making your product better and at the same time earn revenue from the ads at the same time by letting the mediation platform do all the heavy lifting.
Here’s how you can monetize your app efficiently:
#1 Work across global partners
The industry is packed with many in-app players yet you should always opt for the best ones (i.e Admob, Facebook, Applovin, etc.) in order to gain the best metrics.
#2 Choose the right ad formats for your app users
Mobile users are spending most of their smartphone time in-app, which significantly exceeds the time spent in mobile browsers. That’s exactly why it is very important to choose the right and engaging ad format for your users. Banner, interstitial, video and rewarded video ads cover 95% of the global spending on in-app advertising. Appmediation offers all those top ad formats and provides consultancy to the app developers by positioning the right format inside their app.
#3 Generate higher engagement with interactive video and rewarded video ads
Video and rewarded video ads are the best monetization methods and deliver significantly higher performance than other ad formats. As the advertisements should be user-centric and display engaging content, video ads are proven to be the best way to do that. These formats help to increase user retention metrics, high user engagement rate and on average deliver 5-20 times higher performance.
#4 Display your ads in a sustainable way
Make sure to display your ads in a way that they are integrated within your app flow and don’t influence the user experience in a negative way. It’s one of the most crucial points to follow, as intrusive ads that are not relevant to users can bring down the user experience.
#5 Using the right optimization levers
Choose a platform that provides extra options like prediction model, control waterfall model, bid floors to provide transparency and flexibility in optimizing performance. For example, Appmediation has an industry-leading optimization technology that chooses the most suitable ads for your audience while matching your inventory with the highest bidding network and thus maximizing your revenue. You save on resources while our technology takes care of the rest and without interrupting the user experience.
#6 Choose a platform that cares about their users
The users are in the center of the mobile industry, which is why the users’ ad experience is one of the most important aspects. If you are able to deliver the best UX, it increases (1) your chance to retain users for a long time, (2) your ARPU (Average Revenue Per User) and gives you higher visibility in the app stores.
All in all, it is important to remember that when you’re monetizing your app then in addition to setting up your revenue goals, you also factor in the user experience and approach the strategy with having the app user in mind.
Any additional questions?
If you wish to inquire about the app monetization or have general questions about our platform, then please contact us.
If you’re in need of a monetization partner then we’d love to hear from you. We’re here to help you maximize your app revenue.
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