Today, we will talk about the app monetization tips for Q1 in 2020. Let’s start from the definition of app monetization basically. App monetization is a process of converting your app users into revenue. Monetization is one of the key elements of being successful in app world together with developing an engaging app to attract users. So, if you developed mobile app successfully, you should plan and organize the steps of monetization.
App monetization has two main sides:
- Maximizing the app revenue
- Optimizing user acquisition campaign costs
To achieve these goals, you can follow some proven steps in 2020.
- Maximizing the app revenue
- Advertising Based Monetization Strategy
You can prefer different types of ad formats as Banner, Native, Interstitial, Rewarded Video, Playable Ad, Direct Play or Offerwall. You may have thousands of daily active users. However, if you don’t have a strong ad placement strategy, most of your users may leave easily your app even before seeing a single ad. So, you should check the average session lengths, retention rates and other important metrics to decide a proper ad placement strategy. It’s also important to choose the right ad format for a particular app.
- In-App Purchases
It can be hard to convince the new users to spend on in-app purchases. In this case, the smartest way might be providing the in-app purchase and rewarded video options together for app monetization strategy. Because, users will most likely choose rewarded video option at the start, after a while they will start spending for in-app purchases.
- Optimizing user acquisition campaign costs
Besides designing a great app and create a successful advertising strategy for it, make it sustainable is very important as well. User acquisition is vital process for an app. To monetize your app, you should optimize your user acquisition campaign costs. How can you do it?
- Know Your Customers and Engage with Them
Gain new users always more costly than customer retention. So, if you recognize your users and engage with them based on your app and their dynamics; you will use your cost effectively. Don’t forget that there are many important metrics to define your customer like geography, target market behavior etc.
- Free App Marketing Strategies
App marketing is not only advertising but also free promotion solutions. App promotion process requires effort, patience and sustainability. You should carry out research about the free promotion and growth hacking techniques. App Directories is one of the best tools for free app promotion. You can promote android app free and also iOS app free thanks to them. Check the free android app marketing and free iOS app marketing tools & techniques here.
