Your mobile app’s idea, user friendliness, features and niche audience play important role in your app’s success but a lot depends on how you monetize app.
Are you developing a mobile app? How much return are you looking for on your next app? Every app entrepreneur and developer looks for better return on investment on their developed mobile app and that often comes with proper app monetization strategy.
If you are not new to the mobile ecosystem, then you must have heard about monetization strategies such as Freemium, Paywalls, Paid Apps, and In-App Purchases. But recently App Sponsorship, also known as Incentivized Advertising, is growing in popularity among app developers and advertisers.
What exactly is Incentivized Advertising?
Being the mobile world’s newest entrant, app sponsorship asks developers to partner with advertisers who reward your users when they will complete specific in-app actions. When users complete specific action, brands pay up reward to users and developers take a share of the revenue from the rewards. Developers can also make a deal wherein they can ask the sponsor to split the revenue earned from app advertising or to pay you monthly fee for app usage and maintenance. This new app monetization strategy will not only help you better engage your mobile audience but also help you earn profits while including in-app advertising.
Get Your App Sponsored and Earn Profits
Just like with websites, you can get brands and companies to sponsor your app. The Incentivized Advertising Model looks something like this.
• The idea is to find brands or companies (sponsors) who have similar target audience like yours.
• You have to make a deal once the brand/company agrees to sponsor your app.
• You will be required to change your apps certain designs and colors to match the brand. This is known as ‘white labeling’.
• The sponsor runs its brand’s ads on your app and gives you money in return.
Benefits of Sponsorship App Monetization Model
This app monetization strategy was not utilized until fairly recently, but now it has started to take off. One example of app sponsorship was partnership between Evernote, the mobile note-taking platform, and 3M. In this sponsorship Evernote mobile app was integrated with Post-it® Notes and both the companies earned revenue from app advertising.
Often sponsors have large audience base. When you white label your app to match the brand and advertise its product/service, you get exposed to new audience. You will see lots of downloads from a channel you couldn’t have used as such.
Conclusion
Getting paid by a sponsor for advertising in your mobile app is different from just advertising apps or products/services. Incentivized Advertising is the newest app monetization model but the best way to monetize app and get higher ROI.
