App monetization is a process of generating income or making cash from their app by app developers and it is crucial in today’s market!
Statista gives the number of apps in Google Play Stores (2019) as 2.7M and number of apps in Apple App Store as 2.2M. In order to stand out and survive in this market, you need the most effective strategies!
If you are asking yourself “What’s the best way to make cash with my app?” you have come to the right place! Here are the best tips and strategies to succeed in the last chapter of 2019.
Allowing users to shop in the app is another monetary resource. An in-application purchase strategy is especially viable for gaming apps as additional lives, in-game money or power-ups. When implemented correctly, it benefits both the owner of the app and the user because it doesn’t interfere with user experience. About %5 of app users spend money for in-app purchases, this is huge if you think there are more then 100 million users!
In- App Advertising
You’ve probably heard of advertising before. It is one of the most known strategies of app monetization because it is highly effective! But we’re not going to talk about its effectiveness and how %81 of game apps and 49% of non-game apps are using in-app advertising, we’re going to talk about how you can use this strategy in the most effective way.
Video ads: For non-game apps, the most used method is using video ads. You can adopt these monetary resources in two ways. One is rewarded ads where the users gain something from viewing that video; and the other one is interstitials where the users encounter video ads when they get to a certain point.
Banners: Without disturbing the user experience, you can place an ad at the bottom or top of your app’s layout. It is not the most profitable way, but it can help at the beginning stages.
Playable ads: This method is increasing its uses day after day. Experiencing another game in a game sounds weird but with its high conversion rate, advertisers and app developers both love it, and the most importantly users love it too!
So, how can you attract advertisers or have an app that users are willing to spend money in? You can use a proven strategy to increase app store ranking. By studying this case study and adopting appropriate strategies, you can create an app that advertisers would want to be work with and the users would want to download!