They say the best things in life are free. Though this does not necessarily ring true for apps, in the consumer’s mind, free apps tend to be more appealing, especially in the realm of entertainment. While making your app paid is always an option, often times doing so can hinder the audience you reach as the majority of users are looking for something leisurely that won’t break the bank. There is a trend we see everywhere from online streaming for movies and TV, to free music, and of course the push for free apps.
Thankfully, ads deliver a solid solution for app developers to make a respectable income from their apps. However, if you choose to use in-app advertising as the means of supporting your business, it is critical to develop the right methodology to keep your app successful. Read on for the best ways to ensure you monetize your app the right way:
Choose the Right Ad partner
For any type of business, partnerships can mean the world. It is no different in app promotion. First of all, your partnerships should always be transparent. Publishers need to have access to the full picture through the accumulation of data which would help them to make better business decisions and target the right groups.
That’s why it’s important to take advantage of direct-deal advertisers. Since these types of advertisers can start a direct buy campaign for a specific niche, publishers which offer the best performance, can easily increase revenue by providing their expertise.
Make ads as content extensions
As we have established, ads miss the mark when they are not useful to your audience. Therefore, like in other industries, it is important to focus on your content in order to make it valuable to your user-base.
In the online publishing industry, tools such as Taboola help to aggregate content based on what users have viewed previously. Similarly, in the world of app advertisements, it would be ideal to gear your advertisements in the same manner.
In terms of mobile-specific content, apps and games see the most success with rewarded videos. Rewarded videos serve not only as engaging and entertaining content, but they also provide incentives for users to partake in the ad such as lives, hints, or a free pass to the next level. Since rewarded videos serve both as great content as well as delivering an added benefit, they have enjoyed an engagement rate of 80%.
Deliver relevance
Being useful to your audience is the best way to ensure your advertising initiatives are successful. That’s why you need to make sure the ads you place are actually of interest to your target audience, as well as to each user in particular.
Find the Right Kind of In App Advertising
There are many types of in-app advertising methods to choose from. From interstitials to native ads, to video ads and even banner ads–all of which are ideal for different products and various types of individuals.
Interstitials are full page ads that take over the entire screen. In contrast, banner ads just take up a segment of space, showing up only at the top or bottom of the screen. This way, it doesn’t feel quite as intrusive as the full page alternative. Native ads on the other hand, are specifically created to fit the exact context of the app they appear on. This way, they serve as additional content for the app itself rather than simply a piece of promotional materials.
Video ads have been referred to as the new native ads. They are a great way to derive revenue because they are the most enjoyable type of ad for the majority of users. Video ads feed entertaining and valuable content to users in a manner that is easy to digest. For this reason, mobile video ads have proven themselves to be five times more engaging than other ad formats. This, and many other benefits is why more and more marketers are turning to mobile video ads to generate their in-app advertising revenue.
Remember to keep your ads as clean and native as possible for optimal effect. In addition, you should also make sure you figure out the ideal number of times your ad appears. Appearing too many times per session can aggravate the user; however not appearing enough can make you less memorable. In general, the recommended number of times an ad should appear is around 3-4 times per session. This way, you have an effect without bothering your users.
Test and Assess Performance
As they say, testing makes perfect. That’s why it’s essential for you to constantly test which factors work for your audience and which are falling short of their expectations. Use mediation platforms to figure out which methods are most ideal, while at the same time, remaining open-minded to all possibilities. This way, you will be able to understand your audience better than ever, which of course leads to better customer satisfaction and revenue for years to come.
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