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App monetization is a process where an individual can make money with the help of a mobile app and this can be done for free. Even without charging money can be earned. People do not agree on paying for purchasing the app and usually prefers to opt for buying app available for free.
App Monetization is trending in the current times. The trends that are expected to influence the way App Monetization will work in 2018 are as follows:
Freemium model has always been beneficial for many developers. The conversion rates of freemium models have comparatively been higher. The best advantage of using this model is that the length of the session can be extended which will ultimately attract more users and will keep them engaged. Once they are satisfied with the app experience, they will give themselves a chance to explore more possibilities by trying some of the premium app features. The only thing to be taken care of here is to build the trust in the users and ensure to not let them feel that you are exploiting them.
The trend of ad driven app companies was started in the year 2016. 2017 witnessed a hike in the number of advertisers who are also publishers. In 2018 the providers will engross themselves in providing more tools which will aid in increasing the visibility of the ads. Previously, there used to be very less number of companies who were ready to afford the paid campaigns, but this number is expected to increase in the year 2018.
The motive of App Advertising previously was to make people aware with their respective brand or product existence in the market. But in 2018 the motive of App advertising will be changed. Now App advertising will be more focused on delivering good user experience. To ensure success of app monetisation strategies it will be mandatory for the developers to determine and clearly define the total number of apps, appearance of the app and the way in which users will interact with them. Appropriate balance between all the 3 aspects will help them gain popularity and success.
Developers were completely against the idea of advertising the competitors as they had a fear in them that their users might get attracted to the competitors. But in 2018 with the availability of tools which are helping in monitoring eCPM, the app publishers will utilise these tools and approach the market based on certain data collected which previously used to be based on certain assumptions. Using this data, developer will be advertising competitors without any fear in them.
In 2018, priority will be given to customisation for brands. By accumulating required customer data, efforts will be made to improve the user experience. Mobile app developers are collecting and analysing the behavioural data of their users so as to understand the need of bringing the improvement in personalization for their users. Data monetization is secure and is gaining much popularity amongst the developers. By effective communication and educating the users on the opt-in, developers can monetize their app. This strategy ensures to keep the user experience intact without affecting it in any case.