Traditionally, the in-app purchase was the most common monetization method the core game developers used. However, many mobile game monetization strategies have entered the market with the changing time. Even though there are numerous monetization strategies for mobile games, the right approach varies from one game to another, depending upon the mechanics it uses. Therefore, it is crucial to identify the most effective monetizing format before implementing it to earn revenue from a gaming app.
The monetization model for a gaming app should start as soon as the developer starts working on creating the game. It is because depending upon the monetization strategy, they can plan the layout of the game and difficulty level of different stages and more accordingly. Listed below is the current trend in mobile game monetization strategies, which you can try.
In-App Ads
The traditional in-app ads are here to rule the trend again in 2023. It is one of the most effective monetization strategies developers can use. In-app ads’ beauty is that they allow gamers to play the game for free while the developers make revenue. Developers can consider high-paying ads like Lottery Sambad advertisements to increase the ROI.
However, when displaying in-app ads, the developers must ensure that the ads are not intrusive. It is because intrusive ads can affect the user experience negatively, which can affect the gaming app’s popularity. Therefore, to ensure that the in-app ad proves to be an effective monetization strategy, the developer should strike a balance between the number of ads and quality while considering the different formats of the ads.
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In-App Purchases
It is the second most popular monetization strategy for gaming apps. However, using this monetization strategy only makes sense when a game’s fanbase is exceptionally high. Also, the quality of the game plays a crucial role in ensuring that in-app purchases work. According to a report, in-app purchases are the third-most-popular monetization strategy after video and display ads.
Also, in-app purchases ensure that the players can still play the game for free, however, with less privilege. Also, to make the in-app purchase a successful gaming monetization method, the developers must stay strategic about the pricing of the in-app purchases.
Subscription Model
19% of gaming apps use the subscription model as a monetizing strategy. In the subscription model, the gamers ensure regular customer revenue in exchange for access to additional gaming content, items, features and more.
Many developers also use it as an alternate monetization strategy to ensure an ad-free gaming experience. For example, a gamer can skip ads in a game and enjoy an ad-free gaming experience by paying for the ad-free subscription model of the game. Commonly, the subscription model works like an additional monetization strategy for gaming apps.
Reports show a strong synergy between subscription monetization and ad removal. It is particularly true for casual games where in-app advertisements are more common.
Subscription model allows developers such as Dhankesari lottery to ensure regular, consistent purchases from the loyal customers.
Paid Downloads
Paid downloads as a monetization strategy only work when a game has created a brand and has a loyal fan following. Over 18% of gaming apps use paid downloads as a monetization strategy. Established mobile game publishers who have built a rapport with consumers use this strategy to increase their revenue. Even though paid downloads belong to one of the trends in mobile game monetization strategy, new developers should avoid it.
Hybrid Monetization Strategy: The New Monetization Model?
Developers no longer rely on one monetization model but prefer to consider multiple ones. For instance, many developers combine in-app purchases, ads, and the subscription model to create a hybrid monetization strategy. It works for most developers because, in this scenario, gamers can choose their preferred model. However, developers should note that the hybrid monetization strategy might not work for all gaming genres.
Other trending mobile game monetization strategies include native ads, offer walls and affiliates.
It is recommended that developers segment their users and use a monetization strategy accordingly. It increases the ROI for the developers. Furthermore, it is crucial to maximize user acquisition. It is because only when a game has many users does its revenue-generating capacity increase. Therefore, to ensure the long-term growth of gaming apps, developers should pay particular attention to user acquisition. Lastly, experimentation is the key to finding the right game monetization strategy.
