It is possible to monetize your online game, even though you still haven’t thought about it. However, as most online games are free, there might be some misunderstandings regarding how lucrative they can become.
Online games have the potential of turning into strategic revenue. Therefore, it is very important to become aware of the methods that will make you profit from your project. When you don’t monetize your game, you lose a shot of having a profitable business.
Also, after the pandemic, paying methods will evolve, and spending money online will become easier. The rise of digital banks and other payment methods are deeply connected to new consumer habits.
Have you thought of how long people stay connected to their smartphones every day? There is an enormous opportunity to increase your revenue in this market, even though this scenario still seems far away from you. Through ads and other strategies, you will get valuable engagement from games beyond playing, because your audience is going to click and buy from you.
In this article, we will tell you 6 methods to monetize your online games, such as mobile ad mediation, paywalls, multiplayer, in-app purchases, and data monetization.
Mobile Ad Mediation
Mobile ad mediation is one of the greatest mobile game monetization trends in 2020. It consists of working with ad mediation platforms to manage everything in one place. Therefore, it is a very effective tool based on in-app ads.
With this strategy, game developers are able to earn more revenue from ads and optimize their work. Usually, you have to negotiate with multiple ad networks, and it is very hard to manage them as numbers increase. This scenario makes ad mediation a solution to improve the way your company profits from ads.
An ad mediation platform will be an intermediary between you and ad networks. Here are some advantages you get from trying this method:
- You only need one SDK
- Better control of monetization
- More ad revenue
- Higher fill rate
Thus, mobile ad mediation is a method that will benefit your monetization strategy and your team’s management routine.
You can also use a paywall method, so gamers can test your games for free for some time. When they reach a certain point, they will have to pay to continue playing.
In order to make this strategy work, you need to engage your users from the very beginning. It is way easier to convince someone to play your game when it is free. However, they will only keep playing if it corresponds to their expectations.
As a result, the challenge is to get them interested enough to pay for it. Some of them will quit the game after the trial period, but this strategy will convert some players into loyal fans.
A multiplayer game has a huge monetization potential. In this genre, it is important to create mechanics that are appealing to people who spend and to those who don’t.
The complexity of multiplayer games demands a lot of skill from their players. The big ones, such as League of Legends, even reward the most skillful players, increasing engagement and even the time they spend online – and spending their money on the game.
Selling content to players is a successful strategy to monetize your online game. Offering rare items that will only work if they play well awakes the sense of adventure and engages gamers. And, of course, this strategy is connected to the next one we will present to you.
The in-app purchases market is valued at $37 billion and is expected to grow even more. Its concept refers to the buying of products and services inside an app, through a smartphone or tablet.
It is also a strategy to provide the application for free. For instance, you may offer an upgrade to the paid version, paid feature unlocks, or even sell special items for people who start using the free version. This means the developer will profit even while there is a basic and unpaid version of the game.
An example of in-app purchase in a mobile game is the option or ability to skip a level for a fee, or the possibility to sign up for premium content, providing distinguishing benefits for your users. Or you could do just like Netflix and Amazon Prime and offer a monthly subscription to use your product’s full potential.
Data monetization is surely a trend in mobile games. It is highly recommended for those which have a large number of daily active users.
It refers to data collection and its transference to a data collection. There are lots of companies interested in the management of data nowadays, such as ad and marketing business and telecoms.
However, it is essential to point out that this is not about collecting personal information, but facts like device type, country, and screen size. The more companies you work with, the more revenue you will obtain.
Also, data monetization might still be a sensitive matter. It is important to invest in security measures to guarantee every information available will only be used according to current regulations in your country, to avoid fraudulent acts.
Game monetization solution
But, of course, managing game monetization is not only about building strategies. To manage your agility in payments and sell more, it is crucial to invest in a game monetization solution.
Especially in Brazil, a country that is classified as the 13th game market in the world and the leader in Latin America, it is essential to trust a company that understands the habits of these gamers.
Latam Gateway offers solutions to monetize your online games, from payment methods to legal assistance, making the lives of Latin and Brazilian gamers way easier. Contact us to meet our solutions.