Mobile app monetization is a very important part of app development. In fact, app monetization model must be considered prior to developing the app and then continuously considered throughout the development process and after the app is launched. We have come up with a list of the top 9 mobile ad monetization mistakes that people make when strategizing their app revenue model.
In this article, you may not find that every type of mistake is applicable to your situation because they are mostly concerned mobile ad monetization model. But most startup entrepreneurs and app owners will find them useful.
Ad monetization strategy mistakes
1. Fail to Consult Mentor or Agency
You may be a technical genius, but that is not going to guarantee your app’s success in the App Store or Google Play Market. You need to test your own ad monetization strategy and conduct the proper implementations. If you can do this, it will work well for you.
There are a lot of app entrepreneurs who successfully offer consulting and mentoring services for inexpensive prices. They are experienced with app products and using tools to gather data. This knowledge will be useful to you as a newbie.
If you hire them, they will help you develop a good mobile ad monetization strategy which is the best for your particular app. If you are fortunate enough to receive free consulting or mentoring from someone who is experienced, then take advantage of that opportunity immediately.
2. Misjudging Analytics
It is crazy to develop a mobile ad monetization strategy that is merely based on your biases or emotions. This will prove to be useless in your attempts to make your app successful and drive good app revenue. You must make sure to rely only on your numbers and data to understand things. There are no app developers who have perfect knowledge of app monetization, app usages, users, and so on.
You need a marketing team which has knowledge of analytics techniques and tools in order to produce data that will help you understand the following:
- Future revenues
- Performance of ad format
- Demographics of users
- The rate of app adaptation
- Behavior of users
- Limitations of technology
So, you need to educate yourself on the various ways to market your app and the mobile app monetization services and tools which the market has to offer. If you have the money to spend, you can pay for these services or for an agency to do this work for you.
3. No Ad Monetization Campaign Optimization
To make optimization effective, app developers need to install numerous SDKs in order to utilize important engineering resources. Furthermore, developers should discover the platforms which provide them with access to optimization controls and tools for better ad formats, ad placements, and traffic redistribution while keeping data as transparent as you want.
After you have gathered a sufficient amount of data over a certain period of time, next you will want to conduct a comparative analysis.
4. Failing to Leverage or Scale Various Channels
Do not depend on ad monetization alone. You need to get creative and use numerous channels to boost your reach. In fact, you should leverage several channels at once. Here are some ideas:
- Use CPA networks
- Form a partnership with various affiliate marketing networks
- Become an app monetization network affiliate so that you can get your app more traffic.
- Burst campaign participation.
- Create partner networks to draw additional attention in the market to your app.
5. Your Mobile Ad Monetization Strategy Is the Same for All Mobile Platforms
We understand the differences amongst the available mobile operating systems, like with their policies, nature, devices, users, and so on. The two biggest contenders are the iOS and Android. They have a lot of differences, especially with their monetization policies.
The Apple platform has lots of restrictions but a lot of monetization benefits. This has caused app developers to realize that more money can be made with an iOS app than an Android app.
If you analyze a group of app entrepreneurs who have been successful in the app marketplace, then you will realize their success comes from understanding the nature of each operating system and platform. Furthermore, they are experts at creating app marketing strategies and how to implement the best practices for development.
Because of this, you must create a different mobile ad monetization strategy for each platform. You must also create a different strategy for each app category too. For example, if your iOS app has affluent users, this can be more rewarding in certain situations. On the Android platform, a bigger audience may be better in certain situations as well.
It’s not actually a mistake. But you have to consider having different ad monetization strategies if you have your app on various platforms.
6. App Ads are Not Creative
Under the CPI model, your ads placements can be customized. If publishers consider app style while creating their banners, users will receive an environment that is pleasant and friendly. This will result in higher conversion rates, CTR, and effective cost per mile (eCPM) for publishers.
7. Choosing the Wrong Ad Format
Most publishers fail at picking the proper metrics when it comes to ad monetization. This means they are not able to develop the proper mixture of various ad formats. For example, there is a lot of focus on eCPM. This allows you to calculate how efficiently you are monetizing your mobile app users.
Other metrics to calculate mobile ad monetization efficiencies include fill rate, interstitial ads, total impressions, and more.
8. No Growth Strategy
Many app startups have no growth strategy and just take a chance. If your budget is very constrained, your app can still reach a high rank in the mobile app stores.
If there are quality users downloading your app and an app retention rate per day is more than 40%, your app store ranking will be high, and you won’t even need to spend hardly any money on implementing an app marketing strategy.
9. No Improvement in App Performance
App engagement and retention directly affect app monetization. If you can improve the app’s performance, then you can enhance the app engagement and retention rates.
Prior to creating an ad monetization strategy, consider a superior UI and UX that can attract a quality base of users without having to spend much money on marketing.
There are a lot of frequently made mistakes which can quickly ruin your app monetization attempts. App owners, publishers, and developers need to check for these listed mistakes throughout the app development process so that they can avoid them. It is best to hire a mobile development agency which has the most experienced people working in it. This will help ensure your app’s success.
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