A Look at Current Trends in Mobile Monetization
When the smartphone apps revolution started, it changed a lot of things for developers and consumers alike. Gone were the days of apps/games costing $10+. The freemium monetization model became king.That was some 5 years ago with the debut of the original App Store for iOS devices. Times have changed and so have user preferences and tastes. Mobile app monetization trends are also undergoing a change.
We take a look at some mobile monetization trends of today and see what the future holds for enterprising app developers.
Today’s Mobile Gamers use Multiple monetization Channels
As the mobile apps marketplace has evolved, so has the monetization model. Credits and debit cards are still the most preferred form used for transactions. But alternative monetization methods are also exploding in popularity.
Methods like closed loop prepaid cards, dedicated smartphone apps for monetization and even electronic bank account transfers are now been used to make mobile payments. Some people even barter off in-game credits and virtual goodies for some bank.
So it makes sense for game developers to integrate more modes of monetization channels, provided that they conform to international monetary laws and are legal. Not accommodating gamers seems like a poor move on the devs part doesn’t it?
Games with In-app Purchases
In the good old days, you had to fork out some money for a physical copy of software. With the advent of the mobile app economy, the costs of publishing apps has gone down significantly.
The end result? Apps and Games as cheap as $1.99. Most of the apps are even free.So how do free apps make a ton of money? They have a secret weapon in the form of In-app purchases. According to Newzoo, market research has revealed that a whopping 91% of the revenue of iOS and Android game developers come from in-app purchases.
In-app purchases are poised to net smartphone developers some $5 billion in 2016. To succeed financially, it is imperative for most developers to integrate in-app purchases functionality into their apps.
Today’s mobile game developers should be all for accommodating the demands of their fans and customers. Integrating more than one mobile monetization options into games can result in more monetary benefits for all the parties involved. It is a change that should become standard practice in the mobile apps development world. Call us at 866-978-2220 for more information.