Mobile game monetization, an important consideration before starting the process of designing an app is determining whether or not the game will be able to produce income for the firm that will be making it. Finding and implementing strategies that will allow you to earn enough revenue from your game to cover the costs of development and maintenance is critical to your success.
Earning money via video games is considered a viable choice by a number of people; nevertheless, understanding
is the most profitable method of earning money. It is possible to achieve this goal via the use of a variety of strategies.
In order to keep perspective on the fact that there are several possibilities accessible, the goal is to choose the one that is most appropriate for you and your individual scenario. It will take a large amount of time to perform this technique, so you will need to be patient during the process.
What is monetization in mobile games?
Mobile game monetization, for the most part, may be described as the process of making money from your mobile games by placing advertisements on the smartphones and tablets used by your players’ friends and family members.
Long before the advent of freemium apps with additional features and functionality, mobile gaming could only be purchased in one of two ways: either as a free app with adverts or as a premium app with more features and functionality. Following the huge change in market circumstances that has transpired since then, investors and traders have discovered whole new worlds to explore and get a better understanding of.
Benefits of monetizing mobile games
For any mobile game developer to be successful, it should go without saying that their ultimate goal is to make cash from their work. This is when mobile game monetization will come in handy to help you achieve your objective.
Flappy Bird – The game was created by Dong Nguyen, a well-known game developer, and it took him around two to three days to produce it from start to finish. When the game was initially released, in-game advertising generated around $50,000 per day, making it one of the most lucrative video games ever created.
Candy Crush Saga, Pokemon Go, and Clash Royale generated more than $1,000,000 in daily revenue as of July 2017. According to current data, Candy Crush Saga is the most widely played game on the planet right now, with over a billion players worldwide. For the reasons already mentioned, video games accounted for 90 percent of Google Play revenue in 2016 and 75 percent of iOS revenue in the same year, with the great majority of these revenues generated from in-game adverts and transactions, just as it did in 2015.
Monetization Strategies for Mobile Games
The majority of game creators are focused on converting their idea into a playable game, and it is only after the game has been completed that they begin to think about how they will promote and sell their product to their target audience.
In order for a mobile game to be successful, monetization must be incorporated in the game’s roadmap from the beginning of the development process, and it must get considerable consideration while establishing a game’s marketing strategy.
Be mindful that your decision on how to monetize your mobile game will have a huge influence on many aspects of your game, including the features and game strategy that you use, so proceed with care when making your decision on this issue.
Games for Free vs. Games for Money
As soon as you have completed the development of your game and are ready to launch it, you will have to make one of the most important decisions of your life: whether to make your game available for free or as a paid download. It is critical to do a comprehensive analysis of the trade-offs involved in order to make well-informed decisions.
However, although paid apps may offer you instant cash flow while free applications may allow you to generate more money in the long run via in-game adverts and sales by drawing more players to your game and so boosting your whole income stream.
If, as previously stated, you have already planned your mobile game monetization strategy and have designed your game around that strategy, it should not be nearly as difficult as it appears at first glance to achieve success in your game development efforts.
No matter how wonderful your game may be and how many people are eager to pay money to get their hands on it, you should not feel obligated to make it available for free to the public. After all, what’s the harm in putting a game that’s so wonderful that people would voluntarily pay for it to begin with available for free?
InMobi, a consumer research company, conducted a study in which it revealed that consumers who use mobile apps are far more likely than customers who use mobile websites to click on adverts inside mobile applications. InMobi is a firm that does market research on customer behavior and purchasing habits on mobile devices.
The average click-through rate (CTR) for mobile application advertising (in-app advertisements), which accounted for 80 percent of all worldwide impressions, was nearly 2.8 times higher than the average click-through rate (CTR) for advertising delivered through mobile websites, according to the study findings. It was also revealed, as a consequence of the study’s findings, that the average effective cost per thousand impressions (eCPM) for in-app advertising was more than 2.5 times more than the average effective cost per thousand impressions (eCPM) for mobile web advertising.
In-App Purchases or Freemium
It is possible to download and play a freemium game without having to pay any money but it is also possible to make in-app purchases that will give you a competitive advantage over other players in the game. According to estimates from the industry, the in-app purchase sector contributes for around 70%-80% of the $10 billion or more in yearly iOS revenue earned by the firm.
This makes it feasible for companies to customize in-app purchases by integrating display names, product descriptions, and promotional photographs in each transaction completed via the Apple app store. As shown by the results of recent research, in the Apple App Store customers may browse and buy things before installing an app, even if you only provide up to 20 of them on your product website.
If you have an app loaded, you have the option of paying “subscriptions” in exchange for access to additional features and privileges (as well as the ability to use the app without being interrupted by advertisements). The payment of subscriptions is a defined sum of money that is paid on a recurrent basis, and the amount is determined by the subscription type (weekly, monthly, or annually).
Which Model Is the Best?
In light of the fact that everything is based on your individual game, there are no one-size-fits-all solutions to this problem, as previously stated. Across a broad variety of platforms, it has been shown that in-app purchases are the most lucrative technique of earning money in mobile games and applications. In the case when making in-game purchases would be harmful to the game’s primary objectives, they should not be made accessible to the player community.
Additionally, there are hundreds of other mobile games available, each of which explores and compares a diverse variety of gaming styles and methodologies. As a side note (e.g. offer rewards for money as in-store purchases or for free in exchange for watching a video ad). Despite the fact that it is a result of the circumstance, it is critical to keep this in mind while you create preparations for the future.
Summing Up The Whole Discussion
One last piece of advice is to reflect on the following:
It’s important not to get carried away with the potential of making money from mobile games in general, no matter how enticing it seems to be. However, even if your goal is to increase revenue, overly marketing your game and making everything accessible as an in-app purchase may have the opposite effect of what you want. It is probable that the majority of users will get bored with the game and will delete it from their devices within a short period of time after initial installation.
It is vital to retain a sense of balance when experimenting with new ideas, evaluating their usefulness, and making changes to them. This is especially true when considering the interests of users at all times.
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