A Beginners Guide to Monetization

As global mobile gaming revenues are estimated to reach over 152 Billion USD in 2022, the need for publishers to continue to enlist the best monetization strategies for their apps is as important as ever.  Prado’s unique monetization solution enables app publishers to effectively monetize their apps with compatible, relevant ads.  

WHAT IS APP MONETIZATION?‍

In a nutshell, it is the process of generating revenue from your app. And while developers need to generate revenue from their apps, it can be challenging. Why? Most apps are free to install, so developers need to adjust their revenue models to generate income after a user downloads the app.  This is where the Prado solution comes in.

HOW DO YOU GET STARTED?

In 2022, almost 97% of Android apps and 94% of iOS apps are free. An easy method of monetization is to charge users to download your app, however most publishers find they have steep competition with other “freemium” competitors. Prado recommends that for this reason, publishers offer the “free to download” option, along with other monetization strategies that are then introduced after install to generate revenue (such as in-app purchases, subscriptions, and most importantly in-app ads).  

By downloading the Prado SDK, publishers can find a valuable source of revenue for their apps through in-app ads, while keeping their apps free in the App Store and Google Play Store.

 Freemium Model

It merely means that there are two versions of the app, one is free, and one is premium. The free one supports the essential functions, while the other one includes additional features that aren’t supported in the free version.

The idea behind the freemium models is that the users can enjoy the free version and become willing to pay for the extra features available in the premium version.

In order to leverage it, you need to design both the packages carefully. The free one should be attractive enough to engage with the users and convince them to buy the premium package.

 In-App Purchases

This is one of the most popular ways of monetizing apps - you the app for free, but some of the features are premium. For example, apps like Candy Crush Saga, PubG, Subway Surfers, etc. use this model to monetize their apps.

 One-Time Paid Apps

Users need to pay just once to download the app. Further updates and the addition of features will be free.

Challenges can arise in that you would need to launch an app that is compelling enough to make the users buy it before even using it. Additonally, there can’t be repeat revenue from the existing users. For a continuous revenue stream, you will need to keep looking for new customers.

Become An Affiliate

You can help other companies generate revenue with the help of your app, and therefore earn commission. In this model of monetization, advertisers show their ads within your app or run some promotional campaigns for the users of your app.

Ads

 We believe that running in-app ads is the best way to monetize. The most critical element for utilizing this strategy is that you put ads in such a way that the customer experience isn’t disrupted.

The best way to leverage this method is by working with experts like Prado, who understand your audiences and in turn only shows them highly-targeted valuable ads. 

TOP PUBLISHERS CHOOSE PRADO

Mobile leaders choose to work with Prado - as our industry-leading monetization platform helps developers boost revenue and improve efficiencies.

Get all the info you need at PRADO MONETIZE here

Download our SDK

Need more?
Reach out to our Head of Publishers, Noam Hahn noam@kidoz.net 

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