You must be aware of the app monetization that helps businesses generate more revenue than ever before.
Email lists, building robust code, in-app purchases, and free/premium versions are some efficient ways of monetizing your application.
However, the best and the most used way is in-app advertising which offers various opportunities for the application to make lots of money.
Want to learn further?
Here are some of the ad formats you can easily implement on your application and make it a better tool for getting an additional source of income.
Also, if you are new to the business industry and thinking about building your app, then support from the best android app development company will help you.
So, without any further delay, let’s move into and choose the best ad format you can implement in your application.
What is Monetizing your app with ads?
In-app advertising is one of the ways of monetizing the apps; it allows all the freely available apps to generate revenue from the advertisements running there.
This adds a lot more in terms of revenue for the startups. However, one should learn the industry’s terminology before choosing this method for app monetization and ask themselves several questions like:
- Do the ads align with your product?
- Is it running seamlessly?
- Will your user feel frustrated while seeing this ad?
- Or does it add value to the users’ lives?
You can avoid a great pitfall by asking yourself these essential questions and connecting to the best advertiser who helps you choose the best format.
Best Add Formats For Monetizing Your App
Below are six formats that will transfer your application into a profit-making machine. Take a look and learn about the same.
- Native ads:
It comes in different sizes and forms yet adapts to the environment in which it is displayed. That means it aligns with your brand and aesthetic. If we take the estimated result, 87% of mobile users like native ads over other ads. That indicates how profitable it can prove to your business and product.
Even most newbie entrepreneurs prefer this format to gain user engagement on their apps. According to experts, the native ads format will capture the $400 billion market by 2025.
Although it is costly, it is worth it if you want to add more income and dividends to your business.
- Banner Ads:
Banner ads are animated ads that appear at the top or bottom of the mobile application screen. The user is provided with a choice to view the full video.
The format is ineffective when users frequently get these ads and put negligence towards them. However, it can convert the leads for lifestyle and classified content. These ads are growing and becoming a robust way to get additional income.
If you are looking for a cost-effective way for app monetization, then go ahead with this one.
As the world is attracting more towards video content, you can have this trending ad format leading to more revenue and profit.
- Interstitial Ads:
These are full-screen ads available both in images and videos. The size of these ads is ten times bigger than the banner ads. These appear while the user makes a transitional shift, like hitting the pause button while playing the game and moving towards upper levels.
Compared to banner ads, this format offers a higher ‘Clickthrough rate’ (CTR) as they come with the choice of exiting the ad. The user can either continue or close the ad running on the application.
You can make money while putting ads at the right moment. Ensure that the CTR will be less if you add the interstitial ad while the user is doing the important activity.
- Playable Ads:
Playable ads work like a “try before you buy.” It offers the user a chance to interact with gameplay features before installing them right away. After building your application with the support of the best android app development company, you can contact the advertiser to bring in this format for your business to achieve future goals.
The ad format helps reduce uninstallation rates of applications as the user will get a trial period to test the performance and dynamicity. Users receive a call-to-action after completing their trial period.
- Rich Media Ads:
Rich media ads contain various interactive content like audio, video, animation, or text to gain user engagement. The user will get a more engaging way of experiencing the brand.
As it is available in different formats, you can have a better engagement using the capabilities and features offered by this format.
- Reward Ads:
Reward ads format includes all the ads that offer the users rewards once they complete the ad showing on display.
To understand it better, let me provide an example of users getting an extra life after watching a 30-sec advert.
To Sum it Up!
So, these are all how you can monetize your application. We hope you have resolved your queries on in-app advertising and you have picked the correct ad format for your application.
However, if you have any more doubts and want us to cover more on the same, tell us in the comment section.
Also, connect with the best android app development company if you haven’t because nothing is better than building your own mobile application.
