What Are App Monetization Networks?

These are great times for mobile app developers. We saw the signs early on; the further that mobile technology advanced, the more that smartphones became symbiotic with their owners. The fact that everyone in this modern age is pretty much fused to their mobile devices is the perfect scenario for app developers who are seeking to gain some stream of revenue. Once they come up with a winning application, the hardest battle that they’ll come across is figuring out a way to use that application to make money.

The answer is to find an effective method of app monetization. These will give app developers the platforms that they need in order to start funneling a little dough into their company so that they can continue to support their applications…and their families.

There are a number of ways that app developers can go about generating some revenue for themselves. In this article, we’ll explore a few of the main methods that are in use today.

What do advertisements do for app developers?

The way for application developers to make money is through app monetization networks. These networks connect advertisers with apps, and in turn for being allotted advertisement space within the app, the app developer will be compensated by the advertiser.

Premium Paid App

What does this mean? Well, the most straight forward way of looking at this is to simply sell the app straight to the consumer for a fixed price. If a developer has got a buzz worthy app on their hands, then people will be talking about it. The more people talk about it, the more purchases of that app that will be made. This approach is as straight forward as it can get, not any different from exchanging money for a candy bar at 7-11. Several apps that have used this pay-to-download technique include:

  • Minecraft – Pocket Edition
  • HotSchedules
  • Angry Birds
  • Blek
  • Afterlight
  • 7 Minute Workout Challenge
  • Make Emoji Pro
  • Facetune
  • Orbitum
  • Geometery Dash

In-App Purchases

Popular in the app world, especially when it comes to gaming apps, the in-app purchase method is a great way to encourage customers to invest in an application. Apps that feature in-app purchasing are typically downloaded for free in order to generate a healthy following.

By offering an app for free, not only is a developer heightening their chances of generating buzz about the app, but it also allows for users to become attached to the app – prompting them to spend a little more money in order to heighten their experience.

Back to the point, an in-app purchase is a service or product that is sold through the app itself. For example on many mobile app based games, you can buy any number of upgrades and power ups. Some games even limit the amount of time that you can play each day unless you buy some special in-game item. New characters, avatars, and options that each have a price attached to them before they are accessible to the user are further examples of in-app purchases.

Mobile gaming apps aren’t the only applications with this model. Even simple translating apps might ask you to pony up an extra dollar or two for special features and extra languages.

Advertising

There are a number of popular app monetization networks available for app developers out there. Let’s take a look at a few of the big ones:

  • AdMob
  • Adfonic
  • Flurry
  • Aditic
  • Millennial Media
  • Chartboost
  • TapJoy
  • Admoda
  • Hunt
  • InMobi
  • Jumptap
  • Kiip
  • Madvertise
  • MobFox
  • MobPartner
  • MoPub
  • Mojiva
  • PlayHaven
  • RevMob
  • Smaato

As we can see, there are quite a few outlets for software developers to find the right advertisers. Typically, a developer will designate real estate on their app that an advertiser can pay to advertise on. This is where an app monetization networks comes in; they are the third party that connects the apps with the advertisers. Of course, there are various models the advertisers may work under, the most popular being a pay-per-click method. With this method, a developer will only generate revenue when an advertisement is clicked on.

Various Ways to Get Paid

There are currently 1.5 billion mobile app users across the globe, and it’s been projected that by the year 2017, the number of mobile app users will jump to 4 billion people. With that in mind, there is a tremendous opportunity for app developers to gain a significant amount of cash flow. In order to achieve this, it is extremely important for developers to conceive and implement their monetization strategy in the early stages of development.

All in all, there is a great deal of opportunity for mobile app developers to monetize their product. As the mobile ecosystem continues to evolve, the advertisement methods will as well; the future of app monetization may be right around the corner.

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