You may know how to monetize your app in theory. You may even know how to do it in a realistic sense, but just how confident are you that your knowledge of mobile app monetization will make your app a money-making machine? If you want to be successful in this day and age, you need to become an in-app monetization ninja. This takes knowledge, understanding and experience.
So, how do you start your quest of becoming a master of in-app monetization? Check out these tips below:
Native ads
Embrace native advertising. You may have heard of this form of advertising, but if you’re like most marketers, native ads may still be an unclear concept for you. Essentially, this type of advertising matches the visual design of the app (experience) in which the ad lives, and looks and feels like natural content. In other words, the ad is placed organically in your app and flows harmoniously within the context of the surrounding app content. The function of this type of ad is to consistently behave with the native user experience and function precisely like natural content. In short: the user is fully aware of the ad content, but it flows with the experience and doesn’t detract from it.
Native ads are a quick and easy way to monetize effectively and are arguably an integral part of every monetization strategy, particularly for the majority of non-gaming apps.
In-feed advertising
This is a popular and valuable form of native advertising. Unlike the usual banner ads that may run at the top or bottom of the screen or even display as fullscreen interstitials, in-feed ads are integrated within the app. This makes them less irritating to users and often result in better click rates. Many developers choose in-feed video ads. These types of ads tend to be the most popular because they can show a video ad on an endless feed. Better still, you can control whether you want to allow the user to initiate the video ad or not. In many cases, in-feed video ads tend to keep user on the app while the ads play.
Rewarded video advertising
Rewarded video adsare typically ideal for gaming apps, because they provide gamers with the incentive to watch ads in order to receive rewards, such as additional lives, more points, extra coins, etc., that they can use to continue playing the game, advance levels, gain more stuff, etc. Essentially, the way it works is the ad typically pops up when the player has reached a resting point in the game (e.g. end of a level) offering them an applicable reward if they choose to watch an advertisement; a highly effective monetization strategy.
Performance measurement Vs. performance management
It is important that you do not confuse performance measurement with performance management. While they might sound the same, they are actually different strategies. Each one is important to your app success but it is vital that you know the difference to make sure you aren’t missing a step toward success.
When you measure performance you are measuring quantitative indicators that you put into place to track the progress of your app against your strategy. Good performance measures cover a diverse array of criteria, such as financial measures, process measures, people measures, and customer measures. The measures help you to know if you are on target to accomplish your strategies and your goals.
Performance management, on the other hand, isn’t about tracking, it’s about managing the strategy that you’ve put into place. Essentially, while your measure might tell you your current progress, managing is the action you take to improve those results over the long-term.
