Mobile App Monetization outranks all those web Ads easily with exponentially growing to become $201 Billion industry in 2021. In-App advertising, being one standout technique of in-App Monetization charges not even a single penny to the users, still attracts big moolah. At the same time, one can’t negate the fact sponsorships and Affiliate programs are gaining the popularity by leaps and bounds.
Mobile Apps are ultimate entertainment and then the need of the hour as well. It can be further elaborated as US mobile users install 20 Apps on average at once. The publishers, in this case, eyeing to monetize Apps prefer in-App advertising as only less than 10% of people are willing to pay for an App. With so much opportunity and competition, publishers need to be spot-on with the clarity and technique of their App and the monetization strategy as well. Just to get you to grasp over this in-App Monetization, we have shared details about do’s and don’ts of this field. The pre-requisite dos can uplift the entire strategy, whereas the don’ts alarm you regarding the roads not to be taken.
Do’s of In-App Monetization
Stay Crystal Clear about Monetization Strategy
The handful of monetization options leave publishers into two minds and that’s when they lost their clarity somewhere in between. Opting the pricing strategy is one thing, finalizing Ad placements and managing Ad fatigue is something equally important. Up next, when things start working your way, good acquisition and retention strategy is something compulsory for your success as well.
The bottom line is all it kicks off from getting a suitable monetization strategy for your App. Just to let you know there are various pricing strategies to opt-in for App monetization. The choice is yours whether you want to keep it free, paid, freemium or paidmium.
Only Launch App after QA Clearance
Once your App is ready to go, you need to revert and check-in if there are some loopholes or bugs in it. Getting the beta version tested to the stakeholders will be one handy move but rushing to make your App live will get you in the lurches. Moreover, if you have got your bug fixed and received the pat from the quality assurance as well, still hold your horses and wait for one optimal launch date for your App.
Always support it with ASO
A few years back the web advertising was in the mainstream but no one had many ideas about Search Engine Optimization (SEO). Things changed by far as SEO is now selling like a hotcake and the only reason is it’s one skill to rank your website up on the search engine. In the same way as SEO, App Store Optimization (ASO) works to make your App visible to masses and simplify the acquisition process.
Don’ts of In-App Monetization
Don’t go for Monetization Straightaway
The idea of not heading your App for monetization may look weird but it’s true as once you need to analyze the working of your App prior to placing Ads and user’s response to that. Once it gets the acceptance and enough analytics in your hand, monetization is something for you to do with all your vigor. Similarly, you need to get your facts right regarding the KPIs, the handy pricing models and Ad formats to get things to work your way. The average time a user spends and retention rate can also help you redefine on your monetization strategy.
Don’t overuse Push Notifications
The ultimate usage of push notification is to increase the engagement of users as its one positive signal for the growth of your App. The expert marketers believe push notification tends to increase around 88% of engagement of an App. But the irony is around 60% of App users opt-out from these push notifications. It is because they are intrusive and lacking any functionality on the user’s part. What you all need to do is create the right balance of the push notifications and not bombard them with ruining the overall experience of the consumers as well.
Don’t rely on the Similar Ad Formats and Placements
You’d have heard the famous quote, “Our Diversity is Our Strength”; it goes very much the same for Ad formats and placements. Settling for the Ad formats you tried in the initial phase won’t be the wisest of your moves. You need to act smart and find for the right combo for Ad formats that can connote to the overall idea of the App as well. The point is as you got onto have more users, the Ad format and Ad placement may also need a change accordingly. The category or niche of the App also impacts the ad format and placement.