There are a lot of problems that people often come across when it comes to application development. While the development part can be handled by various teams, one of the main issues that arise is how to make some money out of your creation. There are a few options that the developers choose. One way to go is to have in-app purchases which can provide you with some finances in exchange for various features. However, the problem is that you cannot be sure that every app install will lead to financial gains using this method.
Another way to monetize your application is by having in-app advertisements. You can have your app playing ads after certain amounts of time or after certain milestones. This ensures that with the increasing usage of your application, you will begin to gather a lot of money through advertisements. You can also have an in-app purchase that will remove the advertisements. By providing both the options, you ensure that money comes into your way no matter the path the users choose.
Google has provided a monetizing solution for the mobile application. This comes in the form of AdMob and it is quite similar to MoPub. To easily understand this, you can think of AdMob as AdSense for mobile applications. AdMob also allows users to promote their applications on both iOS and Android platforms. You can also monitor the performance of your application and ads on Google Analytics, and these insights help you better focus your ads since you get to understand the different demographics where your ads are performing well.
To make sure that you are making the most out of the AdMob platform, you have to have a thorough understanding of how it works and how to ensure that you serve the best ads possible to your users. There are digital Marketing companies out there that help you with the process. Also, We have ensured that you understand everything about the monetization platform by listing everything that you need to know about it.
Use In-App Ads
Many people try to avoid in-app ads since they believe that they would hinder with the app experience. There are some developers who believe that they can come up with some other creative means to generate revenue from their application rather than joining the cliche way of using ads to generate revenue.
Such developers tend to make freemium applications to generate revenue but the thing is that the concept of paying for some feature within the application is still not accepted by the audience. Surveys show that people are more comfortable with watching advertisements rather than pay for a feature using their own money.
Why Pick AdMob Out of All Ad Platforms?
There are more than 50 ad platforms from which the developers can pick their favourite. However, there is a reason why most of the developers tend to flock towards AdMob. This is because it has many distinguishing features which set it apart from the others. One of the most promising features is that it allows the developers to display the “house ads” as well which they can promote for free. This allows the developers to promote their own products across the AdMob platform.
Another feature which has gained quite a traction amongst the app developers is “mediation”, a technology integrated within the AdMob platform. Essentially, it allows the app to display the maximum number of advertisements and generate more revenue for the developer. You can access over 40 different ad networks and then enjoy the benefits of dynamic bidding. This allows the applications to select the highest available bid for their application and sell the ad inventory from the network that provides them with the most profits.
Take Advantage of the High Fill Rates
There may be many other ad platforms which will be providing you with higher CPM rates than AdMob. However, you have to also take into consideration that their ad inventory may not be as extensive as AdMob.
Other networks may not be able to fulfil the number of ad requests that your app places which is why you would get a lower fill rate. However, since AdMob is one of the most popular ad platforms and there are many ads running on the platform promoting various businesses. This will help you reach a higher fill rate and also sell a more relevant inventory to your users.
Understand this with an example. If Google AdMob is providing you with a $1 CPM and a 90% fill rate, this means that for every 1000 impressions, you will earn 90 cents. On the other hand, if there is an ad platform that is providing you with a $2 CPM but the fill rate is only 30%, this means that you will be earning 60 cents for every 1000 impressions. Selecting Google AdMob will increase your earnings by 50% in this case.
Wide Range Of Ad Formats
There is a wide range of ad formats available when you are integrating ads within your application. These include banners, interstitial, native, and rewarded. Many people wonder if there is a formula to place the ads so as to generate the maximum revenue possible. However, this is a myth since there is no particular formula. All you have to take care of is that you include as many ads as possible without intruding with the experience of the application.
Rewarded ads are most popular among game developers. These are interstitial ads that lead to various rewards for users such as extra lives, easier levels, or in-app rewards like coins or gems. While the users gravitate towards the extra features within the game, the developer reaps in the revenue from the ads.
The native ads are more common among app developers who develop apps related to content marketing. These ads look just like the overall theme of the application and blend in perfectly to make it seem like they are a part of the app itself. Users tend to click on these ads to read further content and it leads to the generation of revenue for the app developer.
Understanding all these ad formats and advantages of the AdMob platform will help you turn your application into a revenue source. Another benefit of integrating this platform is that if your app has more than 100,000 downloads, you can also ask Google for a free consultation on how to increase your revenue. The signup for the platform is free of cost and you do not need to fulfil any prerequisite conditions in order to be eligible for monetizing your application.
