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Mobile game monetization is all about making money from your game. However, your mobile game monetization models affect more than just your profit margins. Implementing the right monetization strategy can benefit your game in multiple ways.
Key Takeaways:
Mobile game monetization is how developers make money from the games they produce. These are eight key ways mobile game monetization models benefit your game.
When video games were mostly on physical media, players would drop a quarter in a machine or purchase a cartridge or disc to gain access. Developers earned almost all of their revenue from these upfront purchases.
Because upfront purchases rapidly decline as a game ages, developers must keep producing new games to remain profitable. Introducing other monetization strategies, such as in-app purchases, ads, and subscription services, allows developers to diversify their income sources.
This diversity makes it possible to design games as a service instead of developing games as a one-time experience that players will play once or twice before moving on to a new game. It also reduces risk because developers can use a mix of models so that others can make up the difference when one isn’t performing as well.
Diversifying revenue streams makes it possible to monetize more types of players. An upfront purchase model fails to monetize players unwilling or unable to pay the upfront fee. Microtransactions, ads, and other revenue sources appeal to players willing to spend different amounts of money and enable developers to generate revenue streams from users they might otherwise have missed.
Relying on upfront fees to generate revenue locks developers into a rigid development and monetization framework. Modern monetization models allow for more flexibility in marketing and design and make it easier to scale revenue generation as a game grows.
Because using mobile game monetization models is an ongoing process, developers can adjust strategies on the fly to account for changing market conditions and player preferences. They can also scale their monetization strategies to accommodate a growing game and experiment with different kinds of monetization to determine what works best.
Developers can use monetization strategies to add value to their games and increase player engagement while generating revenue. For example, rewarded and playable ads can make games more enjoyable for players because they gain something from interacting with the ads.
In-app purchases are an opportunity to introduce new content and provide players with personalization options. Because not every player will purchase the same in-game items and experiences, each player experiences the game in a unique way.
Cosmetic items allow players to express their personalities through their avatars. Microtransactions allow developers to create a wider variety of content to appeal to different types of players.
As games become more complex and expensive to develop, companies that rely on upfront purchases for revenue must charge higher prices to continue being profitable. This creates a growing barrier to entry for players who can’t or won’t pay the higher prices to access games.
Mobile game monetization models make free-to-play games possible, allowing players to access games without paying a fee. Without this barrier to entry, games can grow more extensive and have more active player bases, which increases game engagement and player retention. Developers can use monetization strategies to offer additional content at various price points so that players can spend as much or as little as they prefer.
Monetization models generate an ongoing stream of revenue for the lifetime of your game. This makes it possible to continue developing new content indefinitely instead of releasing a game and then moving your development resources to a new game. Monetizing new content so that it pays for itself also provides you with the freedom to implement your ideas and respond to player feedback.
You can personalize your monetization strategies to individual players using analytics and user segmentation. Personalized experiences boost game engagement and player retention, and personalized offers convert better.
Mobile game monetization models are integral to games as a service. Because these games grow and evolve, players develop a sense of community through long-term play. You can further promote community building by using monetization strategies, such as subscription services, to offer exclusive perks that help create a sense of group identity.
Offering time-limited purchases encourages players to interact with each other to collaborate, gift, and trade rare items. In-app purchases of in-game items allow groups to create their own identities. For example, a clan in an MMORPG might purchase a specific style of in-game clothing that identifies them as a group.
The way your players interact with your monetization models provides you with valuable insight into player preferences. You can use these insights to optimize gameplay and monetization, which helps you make your game more engaging and drive more revenue. Use what you learn to identify and respond to trends, adjust pricing strategies, create targeted marketing campaigns, and tweak your content offerings to increase revenue and customer satisfaction.
Sonamine’s monetization services help developers fine-tune their mobile game monetization models at every stage of development. Whether you are in the early stages of game design or are looking for a way to boost revenue and engagement in an existing game, our team can help you develop a strategy that produces real results. Contact us today to get started.
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For a limited time until June 2024, Sonamine is offering a 60 day money back guarantee to Braze customers. Come experience the ease and simplicity of the First Time Spender Nudge package and watch your conversions soar.
