Top Mobile Monetization Strategies You Should Know About

A lot of online gambling platform providers are curious about how to make money off of mobile games and which model is best for them. We address all of those questions and more in our comprehensive guide to in-game revenue.

You will uncover monetization trends, develop strategies for monetizing mobile games, and learn how to monetize them by reading this blog.

Let’s get going first by understanding the basics of mobile game monetization…

What Is Mobile Game Monetization?

To put it simply, mobile game monetization refers to the process of generating revenue from mobile games. It covers the many approaches and techniques used by game creators to make money out of their creations. It takes a lot of time, energy, and resources to create a high-quality mobile game. Nothing about this is easy or inexpensive. Because of this, you must ensure that the revenue from your game will offset the expenditures of development. But, you want to create money, not keep your balance at zero. Some games launch and become very successful right away, while for others, it takes years to take off. However, some games don’t work at all.

Key Elements of Mobile Game Monetization

Maintaining player engagement and retention, optimizing in-game purchases, and in-app advertising are the key components of a successful mobile game monetization strategy.

In-App Purchases

To accommodate player preferences and financial constraints, provide a range of purchasing alternatives at various price ranges.
To encourage additional purchases, create a sense of urgency with time-limited deals or special discounts.
You can guarantee transparency and fairness by giving players detailed explanations and images of the goods or features they are purchasing.

In-Game Advertising

Select ad formats based on the target demographic and style of your game. To avoid invasive advertising that damages player retention, balance user experience and ad frequency.
Consider introducing incentivized adverts, in which users see advertisements in return for in-game incentives.
For a non-intrusive and immersive experience, use native advertisements that fit in with the game’s surroundings.

User Engagement Retention

Determine what your audience likes to play and use that information to create a game that will captivate them.
Over time, maintain player engagement with frequent updates, fresh material, and incentive-based events.
To increase user retention and optimize revenue potential, cultivate a feeling of community, and provide consistent value.

Different Monetization Strategies for Mobile Games

In-App Ads: In-app advertisements will be one of the most popular methods of monetizing mobile games in 2023. For developers, this paradigm has shown to be quite effective.

While mobile adverts that appear in the game bring in money for the producer, players may play mobile games for free. Additionally, advertisers are delighted to display their adverts and attract new consumers. Users recall in-app advertisements 47% of the time. That confirms their efficacy. Furthermore, according to an Ipsos survey, 50% of consumers believe mobile advertising to be appealing.

The user experience will be the main focus in 2023. People don’t want to view irrelevant or obtrusive advertisements. Furthermore, a user’s experience would be impacted by an excessive amount of advertisements. Developers must thus find a balance in 2023 between the quantity and caliber of their advertisements.

Rewarded Video Ads Should Be The Focus: In 2023, one of the most successful ad forms will be video advertising. They function particularly well for gaming on mobile devices.

This is the idea behind videos that are rewarded. In exchange for an in-app incentive, the user chooses to view the video advertisement. This is why gamers like this ad structure. In fact, compared to other ad formats, rewarded videos have the greatest eCPM.

Furthermore, video advertisements often yield excellent outcomes. According to research, in-app video advertisements outperform banner ads CTR by 56%. Additionally, research indicates that the majority of players—especially those who don’t make in-app purchases—don’t mind viewing an advertisement in return for a reward. Players may get extra money, lives, energy, or even rare things with this fantastic method without having to pay for them.

The Importance of Playable Ads: Playable advertising is another in-app format created especially for mobile gaming. With this kind of advertisement, a user may preview a game before downloading it. Playable commercials in mobile games have been shown to boost user retention, revenue, and conversion rates.

Playable advertising is more expensive per click (CPI) yet still works since it connects with valuable users. Acknowledging this as well, Facebook and Google have expanded their ad network inventory to include playable advertisements.

In-App Purchases: Making people pay for your game could make sense if you are well-known in the business and have a sizable fan following. A paid game won’t likely work if you’re an independent creator and this is your first product. However, that doesn’t mean you can’t profit from your game. The best option if you want to charge for your mobile game yet still get revenue from it is to include in-app purchases.

Hybrid Monetization Strategy: This is the final strategy we will discuss, yet it may be the most popular one to monetize mobile games. With this hybrid monetization, developers may generate income from several sources.

In 2023, a lot of games will combine in-app purchases, in-app advertisements, and subscriptions rather than letting players choose between them. This appears to be the most effective method. Certain users would rather receive a reward by watching rewarded advertisements, while others would rather make a sale or subscribe.

Final Thoughts

Think about using tactics that strike the ideal mix between client happiness and revenue. To determine the optimal monetization strategies for your needs as a business, you may also do A/B testing campaigns.

You may get in touch with Betfoc’s knowledgeable analysts for more advice or support. We are one of the top game development companies and our knowledgeable experts will show you the best route to achieve your company goal.