Mobile games development is just half the battle! The next step is successful monetization. Do you know how to get money from a game? We have the answer!
It would be silly not to admit that the gaming industry has made a real breakthrough over just a few previous years. To be more precise, since 2020, when we heard about the Coronavirus for the very first time. Yes, we are talking about those days of the worldwide lockdown, when people, stuck at home for months, were desperately searching not only for alternative income sources but also for alternative ways to lead their usual social lives again without going out. That was a tough period, which, however, has given a powerful boost to the entire technological industry. So that was the period when the real revolution took place and a massive shift to ”remote” happened. Things that we had considered completely impossible before, become common and quite usual for us.
Online games have undergone significant changes, too. Is it fair to say that this industry like turned upside down? We think so. The first online games were for entertainment only, but now things are so different around here. They say modern problems require modern solutions - and that is true. Online games are no longer just for spending leisure time and having fun. Now it is a profitable business that has great and promising prospects for further development. Needless to say, the online games of today are a powerful and effective marketing tool. If you understand how it all works in the sphere of digital marketing, you can apply online games to boost your promotional campaign. With the social networking features added, it is no longer just you sitting in front of your computer and playing on your own. There is a real metaverse. You can now keep in touch with other gamers all over the world, communicate, and share experiences. Well, the best part is that you can play to earn. Yes, you’ve got it right. For the most dedicated gamers, it has already become a full-time occupation. Actually, they earn a good amount of money. The gaming industry can ensure stable income. Since the industry shows excellent results, it attracts more and more stakeholders, and the money flow into this niche seems to be intensive enough. But to make online gaming profitable, you should know a few important things. Consider that revenue depends on total sales as well as on monetization strategies. Simply selling your product is not a monetization model. There are much more processes and concepts behind this.
First things first. What is actually meant by mobile game monetization?
In the broadest sense, it is generating revenue from digital assets, featuring ads, and other forms of content promotion. What we should point out is that coming up with an interesting idea and making it a reality is just half a battle. Making your game profitable is a different beast entirely. Monetization covers numerous strategies and tactics used for getting as much profit as possible. It can become a partial, if not primary, revenue source. A common mistake is sorting it out after a game is released. To tell the truth, it’s a bit late. You should start deciding on the monetization strategy right after the initial concept is created. You better not underestimate this part of mobile games creation. After all, the mobile games development process takes much time, effort, and expense. The whole process is neither simple nor cheap. Making sure you’re not wasting it should be in your best interest. Do your best to create a final product profitable enough to cover up the mobile games development costs.
To make it easier for you, we have compiled a list of popular mobile game monetization strategies for 2022. If applied correctly, these tactics will maximize your revenue.
In-app Purchases
This works better with games that already have a huge fanbase, so people like them and are ready to spend money on them. In-game purchases are the leading monetization strategy. Why is it effective? Users install the game for free, get involved, and when it comes to a premium gaming experience and additional content (extra lives, coins, gems, weapons, etc), they do not hesitate to pay for all the stuff. But be careful when establishing prices. Do not go with only high prices - offer also cheap and affordable items, so any player can buy.
In-game Ads
That is an effective strategy for free game monetization. Users enjoy playing a game for free while a mobile app development studio earns from ads that show up in the game. According to numerous pieces of research, most users find in-game ads visually attractive. But attention! Here is a fine line between visually pleasing ads and irritating ads. Bombarding players with too many ads will certainly affect the user experience negatively. If you implement it properly, it will bring benefits. In-game ads come in several formats:
Rewarded ads
Interstitial ads
Playable ads
Native banner ads
Offerwall
Premium Subscription
This strategy and in-game purchases are not the same. The difference is that when a user buys a subscription, they make regular payments (not a one-time purchase) to get access to some extra premium content. If you want to implement this method, you have to ensure you can offer some value instead. To cut a long story short, add premium features, which are really worth the money. A nice bonus for the subscribers is no ads and push notifications.
Mixed Monetization Strategy
We have mentioned three basic monetization strategies, but in practice, they often come along. It’s ok to mix apples and oranges as long as you know how to do this properly. Let us give you a piece of advice - do not choose only one method. You can apply two or three of them at the same time to achieve the best results. This is what we call a mixed monetization model. Decide on what method will be the main one so the rest will be used as additional ones. This way you can please various players and tap into multiple revenue streams. Still, the choice of tactics should also depend on the game genre, target audience, and many other important factors. If you are new to the mobile games development industry, our experienced and skilled professionals will help to select the best strategy for your project. Trust us and our experience, so we will create a mobile game you will enjoy!
Hopefully, this short guide will come in handy when planning a monetization strategy. The models mentioned above work best in 2022. But take into consideration that trends change quickly as the industry is developing constantly. Well, there is no need to worry - we are here to inform you about all the latest updates immediately. Follow us not to miss a thing!
At HitBerry Games, we know all the slightest details about how things work in the gaming industry.
HitBerry Games as a mobile app development studio has strong skills and prolonged experience in mobile games development. We’ve been in the industry for 12+ years. Our mobile apps development studio brings together high-skilled and dedicated talents in mobile games creation. We provide outsourcing tasks to enhance your in-house team as well as full-cycle mobile games development services for enterprises and start-ups.
We apply a personalized approach to each project. Our main goal is to create a mobile game that is lucrative, stunning, and meets all the client’s expectations and requirements.
Trust our expertise and experience and let our company create a mobile game that will reach your business goals. Contact us now!