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How to choose the right app monetization platform for your app?
The need for an optimal app monetization platform is most requisite. According to App Annie, 2020 was a massive Year for Mobile Advertising, as advertisers poured in more than $240 billion.
In order to maximize in-app ad revenues, it pays to have the best app monetization platform in place. With ample options out there the question is, how to choose the best one for your app? How do you make sure a chosen platform will give you the best advertisers and optimal ad revenue?
Finding the right choice of monetization platforms is crucial for any app publisher before launching an app. With the right monetization platform, you will not bore users with monotonous ads and will be able to acquire new users. It must be noted that finding the right monetization method for your app must be done before publishing the app, not after.
How do you make sure a chosen platform will bring in the best advertisers and optimal revenue? It's beneficial to work with a monetization platform with expertise and experience that's directly related to your app and what you're trying to accomplish.
Here are a few questions you need to ask to choose the best monetization platform for your app:
Is the main focus of the platform on monetization?
Some app monetization platforms are specific to perform while others may perform as a one-stop function. So depending on what the app needs are, platforms are chosen accordingly.
What does the app specialize in?
Different apps require different monetization platforms according to their requirements. For eg., some mobile monetization platforms would be better suited for games, having features that would fulfill the requirements/information the gaming app would need.
Research successful competition of your app and their ad networks. Tools like MobileAction allow you to see what ads competitors are running on their app, what their impressions are, and what ad platforms they are running on.
Do they work on all mobile types or a specific category as such?
To get the most monetization from your app, it is most essential to inculcate a monetization platform that adheres best to your app's needs. Monetization platforms targeted at your needs will offer you the expertise to optimize revenue for your app.
What ad networks and exchanges does the app monetization platform work with?
It is essential to integrate an ad exchange or ad network within your advertising supply chain, in order to truly access advertising demand at scale. Ad demand, along with various other marketing and advertising technologies, ultimately determines how advertisers reach their audience and what cost. An ad network is a tech platform that serves as a broker between publishers and advertisers. It acts as an intermediary that would efficiently sell inventory (a.k.a ad space) on the publisher's app to the advertisers.
Make sure you precisely know the networks and exchanges that your monetization platform is connected with before you work with them.
What ad formats do they support?
While banner ads and interstitial ads may be easy to integrate into the app, more immersive and interactive ad formats have come to being, like native ads and reward video ads, which provide a much better user experience alongside higher ad rates. But one must be mindful before integrating these, Not every app monetization platform has to work well with these immersive ad formats.
Choose a partner that can support all ad formats that are currently on the app as well as ones you may be interested in leveraging in the future. It will prove fruitful to work with a platform that is constantly innovating, which helps to push forward towards new, interesting, and immersive formats as and when they become available.
How is the monetization-build integrated?
Does the ad server only offer client-side hosting, or do they offer server-to-server connections for more effective testing and tracking?
API integrations are lighter and easier to integrate, but SDK integrations can be more robust and will allow you to callback on certain functions.
Does the platform offer a mediation platform?
There are apps that work with dozens of different ad sources, which would require them to integrate an ad mediation solution in place. Ad mediation is a technology that consolidates all demand sources and SDKs into one single source. It makes the app easier and lighter to use while increasing your traffic and helping you achieve your goals.
It will also save you time by providing one dashboard to see all of your key advertising and ad revenue information, instead of logging into dozens of different systems each day to track progress.
How long have they been in business and are they profitable?
The financial stability of your app monetization platform has to be considered. It is always essential to know how long your partner has been in business and how much he can bring to the table. You do not want any unanticipated financial hiccups on the way.
How do they determine what ads to show?
This is a very critical and crucial question every publisher must get to the bottom of. Without prior insight into how ads are displayed on the apps, it could lead to the app hosting poor quality ads, resulting in the dissatisfaction of both parties.
In most cases, ad networks or exchanges will determine what ads need to be shown for a set of users. This is done with the help of AI, where technology lends a hand in determining what ads to place where. But alas, this can get a little tricky as well. In situations where multiple brands want to advertise to your app users, the logical choice would be to have all of them compete in a real-time auction and then place the ad of the highest bidder. But it's not always as simple as that.
In situations where there are multiple bidders on your ad space, many platforms use what's called the Waterfall technique to determine which ads to be shown. Under such a system, different advertising demand sources/ad networks are placed in sequential order. When the initial ad source has nothing to serve, the next option in this predetermined chain presents its claim. This method is commonly used but is not optimal for app publishers and developers since it can lead to latency, suboptimal ad fill rates, and lower per-impression prices for ads.
Opportunities for User Acquisition
User traction is an ongoing process for publishers. So why not acquire more users while monetizing? Some monetization platforms help monetize your app through advertising and at the same time, also help you acquire more users while advertising. It's a win-win situation as it proves enormously useful for both parties.
Do they offer customer support?
In a world of tech, time is money. If an opportunity to choose exists, choose an ad platform that provides customer support. Make sure details of support are mentioned before signing the contract. Also, make sure also to check out peer reviews to see what other app publishers and developers have to say about the platform.