Top 10 Mistakes to Avoid in Mobile App Monetization StrategyMobile App Development
Mobile app monetization is a vital and integral process in an app development. It begins before app development, and remains continue even after launch. Moreover, a single monetization strategy never proves enough to hit the revenue targets. We always need to work on different monetization strategies and tricks to make the best combinations of tactics in our contexts and capacities. After years of experiments, we have drawn some conclusions on app monetization and like to give some advice on avoiding the ten most common mistakes while thinking of monetization of an app. No doubt, we cannot say all are applicable in your contexts, but most are useful you as an app owner or an app developer.
1. Treat All Mobile OS Platforms with Identical Set of Mobile App Monetization StrategyWe know platform differences between various mobile OS platforms, regarding nature, users, devices, policies, etc. If we take iOS and Android as chief contenders in this regard, they show sharp differences in monetization policies too. Apple is a proprietary platform with tons of restrictions and benefits in monetization too. Therefore, a universal concept is prevailing in the market that an iOS app can earn more money than Android or others can.
2. Not Consulting Agency or Mentor for Mobile App Monetization Strategy DevelopmentYour technical superiority alone cannot reward your app in the market, but it is proven, and tested monetization strategy and right implementations can work in astounding ways. Many successful app entrepreneurs run mentoring or IT consultancy with affordable fees. They have not only experiences with own products but also have finely granulated data or tools to help you. They can show you the most suitable monetization strategies for your apps and give access to their tools to leverage it all. If you are lucky enough and can get free mentorship from an experienced and devoted mentor around you or within your reach, don’t ignore it and grab the opportunity.
3. Underestimating AnalyticsGoing to create mobile app monetization strategies based on emotions or bias is insane and useless for success so always rely on data or numbers to actualize the things. If you think that mobile app developers know everything regarding monetization, users, app usages, and such monetization parameters, you are making a terrible mistake. You must have marketing team with expertise in analytics tools and techniques to churn data to understand
- Technology limitations
- User behavior
- App adaptation rate
- User demographics
- Ad format performance
- Revenues over time
4. Avoiding Optimization of Mobile App Monetization CampaignFor effective optimization, developers have to install several SDKs to use valuable engineering resources. Moreover, find out platforms that can give access to tools and controls to optimize placements, ad formats, and redistribute traffic with the desired level of data transparency. Once you accumulate enough data over the time, run the comparative analysis, tests, optimize ad formats, test ads, landing pages, different markets, and different app platforms.
5. Not Scaling or Leveraging Different ChannelsInstead of depending solely on traditional monetization, you must think out-of-box and implement various channels to extend your reach and leverage multiple channels for the same.
- Today you have options to partner with affiliate marketing networks
- You can use CPA networks
- Affiliate with mobile app monetization network to drive more traffic to your app
- Participate in burst campaign
- Build partner networks to give more push to your app in the market