Mobile apps are playing a monumental role in bringing the world closer and facilitating the growth and expansion of businesses. The mobile app industry has evolved a great deal and has become significant for brands and consumers equally.
The entire mobile web is now a marketplace where people are selling and endorsing ideas, products, services, goods, and so much more. Everyone from marketers to advertisers and even consumers are now using apps to achieve their goals.
Clearly, mobile apps are ruling the world and both buyers and sellers are turning to mobile apps. For instance, many businesses are creating WordPress websites and WordPress mobile apps to go online and cater to the global audience.
Similarly, advertisers and marketers are also harnessing the web to reach their potential audiences and customers. In fact, the advent of technological tools has enabled brands to interact with each other and earn revenue by becoming advertisers and ambassadors for other brands.
If you have an app for your brand, blog, business, etc., or are planning to launch one, you can also monetize it and earn additional income by displaying ads from Google AdMob. Read our blog and discover some significant facts about the same.
Mobile app monetization: A statistical overview
Let us first dive into factual and statistical details and learn about the importance of mobile app monetization. It will give you a clearer picture and lead you in the right direction as you prepare your app monetization strategy.
- 89 percent of app publishers stated that they used video ads to monetize their apps
- Android and iOS app revenue reached $111 billion in 2020
- The gaming company Balloon Island was making $2,000 daily from AdMob until 2016
- App company HeroCraft Ltd has increased app revenue by over 200% using AdMob
All the monetization related statistics listed above clearly establish the significance and benefits of mobile app monetization. As evident from the examples listed above, monetization can help app owners earn additional revenue and even generate capital for business expenses.
Why choose Google AdMob for monetization
If you are looking forward to monetizing your apps, then there are multiple avenues that can be explored. You can go for direct monetization and place ads from your chosen partners in your app. You can show sponsored content, video ads, banner, ads, or more.
However, the process of filtering brands, finding the right products and services that can be endorsed and managing the partners and their ad campaigns can be exhausting. Wondering, what is the solution? It is simple. Go for indirect monetization.
Simply sign up for Google AdMob and monetize your mobile apps in the most effortless manner. You can display automated ads from Google that are best suited for your app and its audience.
We recommend Google AdMob as it is one of the most efficient methods of mobile app monetization. You can create separate Firebase projects for Android and iOS apps and manage all your ads, revenue, etc., under one roof.
Let us list some salient features and benefits of choosing AdMob:
- It comes with the Google advantage and hence assures quality standards
- It is one of the largest global ad networks that works with millions of advertisers
- You can choose the best performing ad formats from over 100+ networks
- Maximize your earnings and harness ads to the full potential
- AdMob reports give insightful statistics and overview of data related to your campaigns
There is more to the list of advantages and benefits that you can amplify as you proceed to monetize your app and run ad campaigns.
Tips to make the most of mobile app monetization
Let us now tell you how you can utilize the app monetization opportunities to the fullest:
#1: Identify your audience and goals
The most important requirement is to identify your targeted audience and asses their purchase behavior and preferences. If you are using an automated ad and monetization platform, you must ensure that it is capable of understanding your audience and shows ads accordingly.
Similarly, you should also be aware of your goals as you implement your monetization strategies and campaigns. It must not affect your regular brand image and must not break the harmony of your mobile app UI (User Interface) and UX (User Experience).
#2: Use the most accurate format
The format of your in-app ads can also determine the success of your campaigns and the rate of successful conversions. For instance, even though videos ads are considered to be more impactful, it might not be suitable for every mobile app.
You should choose your ad format based on your app category, type, and niche. If your app requires users to spend only a few minutes on each session, then video ads might appear interruptive and unnecessary. Therefore, you can go with banner ads and place them prominently on your app real estate.
#3: Pick the right ad type and content
The choice of your ad type does not just get limited to the ad format. The type of content you use in your ad campaigns also has a great role to play in how your messaging is conveyed and how the potential audience receives and processes it.
You can use text, images, videos, gifs, slideshows, or a combination of these ad content types based on your requirements. If using Google AdMob, you can enable the ad types based on these requirements. For instance, if you wish to show only banner ads, then enable only images and texts.
#4: Optimize category blocking
Platforms like Google AdMob give you control over the categories of ads that you wish to display in your mobile app. Think intuitively as you give permission or block certain categories. Do not over block categories as it may narrow down your window.
You may limit some categories that may affect the overall experience of your audience and interfere with your app contents’ consistency and quality. However, if you allow more categories, you will likely be able to amplify your earnings because more advertisers will be able to bid on your app’s inventory and help improve your ratings.
#5: Keep an eye on insights and reports
In order to make the most out of any business endeavor or campaign, one must keep track of the developments, changes, effects, growth, success points, causes of failures, etc. Same goes for in-app ads and monetization initiatives.
You must opt for an advertisement and monetization tool that enables you to monitor crucial insights and statistics. Most of the data collection process should also be automated. This will make your task easier and help you take better decisions for earning more conversions and revenue.
Suggested Read: Five tips to ace in-app monetization with banner ads
Need an app that inspires traffic and conversions?
Intrigued with the idea of monetized apps? Go ahead and create mobile apps that inspire more conversions. Afterall, mobile apps are ruling the world and a great app is the prerequisite if you are willing to make money with in-app ads.
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Looking for some help for configuring the monetization feature in your apps built with AppMySite? We have you covered. Refer to our guide and get all the help you need.