Common Strategies for Monetizing Facebook Apps
There are many different ways for monetizing Facebook apps.
But the right one will depend on which one you are designing.In fact, some apps are harder to monetize than others. But every developer wants to make money on their investment of time (and of course, money).
Using the “Freemium” Strategy
Many game apps use the “freemium” strategy, which can allow you to unlock certain elements of the game by purchasing certain virtual products (such as coins or other virtual currency that can be spent in-game).This can be an effective way for monetizing Facebook apps, and it is commonly used in games.It gives the player the ability to purchase coins or other virtual currency to unlock certain features or purchase other products within the game.As you might have guessed, game apps are more of a niche market. So, this model won’t work for all apps. Using display ads will be the better option, even though it might not be able to make as much money.
Use Banner Ads
Banner ads are commonly used for monetizing Facebook apps.
And there are many different companies that offer this type of service. Their prices will vary, so it’s important to shop around before you make your decision.The problem, however, is that it can be a hard way to make any real money off of your apps, as most companies will use the “pay per click” model. The positive side is that it can be easier to implement than using the previous strategy. That is the advantage of using this model, which is why it is so commonly used.
As a rule, this will be the most effective method for monetizing Facebook apps. The “freemium” model only works for games, and not everyone uses Facebook for that purpose. Most people don’t, and the one’s that do won’t want to pay for any sort of virtual product that they can only use in-game.
Every ad has a different conversion rate, and interactive ads and videos tend to perform better than standard display ads. People like to be engaged, which means they like to be dazzled with moving pictures and clickable buttons. And of course, text ads rank low on the proverbial totem pole. The most effective strategy will probably be to implement a variety of ads, so you can appeal to different types of people.
Which is the Most Effective Monetizing Facebook Apps?
Your strategy should depend on what kind of app you’re developing. So, it’s important to use some common sense, but it’s also important to understand your market. Who will be using your app? Which age group? Which gender? All these factors (and other related questions) will help you to decide which model will work best.
As a rule, display ads will be the most effective strategy for monetizing Facebook apps, but many game developers use the “freemium” model. While it might not be as simple to implement, it can bring in more revenue. Still, your strategy should depend on what type of app you’re developing. You obviously don’t want to use a “freemium” model on a business app; and even if it isn’t, most people will think twice about paying money for extra features that they probably don’t need. These are things that you should consider carefully.
Put yourself on the other side of the fence. What would you want to see if you were to download the app yourself? Most likely they will want the same thing. You should also consider what type of app you’re developing, as it is a determining factor in your decision. And be sure to be honest – not just with your users but with yourself. Otherwise, you could be hurting your chances for success.
Finding the Right Ad Company
As it has been stated before, using display ads is the most common method for monetizing Facebook apps, as well as other apps commonly used on mobile devices. And if you decide to go with this model, you want to make sure you are working with the right company. Adsnik Media is a full-service ad agency that has everything to help you make money from any app you want to put on the market. If you want to find out more, Get In Touch with them today!