Game Monetization: 11 Tips for Maximizing Revenue

Game publishers are continually grappling to find methods to maximize revenue by smart monetization strategies. With only 2-7% conversions to paying users by freemium games, the situation is quite grim for the publishers which justifies the desperate attempts at working out alternate solutions for increasing revenue without trading-off quality.

Let’s walk through eleven tips that will help you maximize revenue through ingenious monetization methods.

• Value Exchange In-game Advertising 

Value exchange in-game advertising is one of the great ways to solve the issue and earn fair on all the games you roll out in the market. These are incentive based in-game advertisements, that lure in gamers to the ads plastered in varying formats on the screen. Methods to proceed with in-game advertising are

• Offer walls: for offer walls, you have to make sure they are integrated both in and outside the shop so that you don’t miss on any player.
• Convincing Content: Do not trust the content on your players’ faces; try a softer approach. Give them relevant content with which they find it easy to connect.
• Customization: customize the in-game ads so that it gives the feel of the game, instead of being intrusive and annoying. It is annoying when your gaming laptop or mobile screen gets stuck or bombarded with ads in between the game.

• Long-Term Engagement to Win Over the Gamers

Long ago, Statista predicted that mobile game revenues would reach $40.6 billion by the end of 2017, with the fast pace of technology revolution who could doubt the prophecy. However, things even though have now are better but not as greener as the prediction was. To keep the gamers involved and bring in even non-paying gamers is a technique, you have to be farsighted to develop a long-term relationship with the players.

What distinguishes excellent games from average games is the retention rate. When the user installs a game, a great game is able to make the player return for more than 180 days compared to mediocre ones for which the playing days can be less than 10. Your focus while creating games should be to bring back your players for a minimum of 30 and a maximum of 180 days. This way, you will create a phenomenon which might make your gamers not to quit for years.

What you have to be more prudent about is how your future planning should be, it should not be restricted to the launch. You have to think beyond that, about future prospects and challenges, and how you will mold and shape the gaming features to be exciting yet unique and fun. Include features that do not hinder their progress; in fact, embed features that would keep them get going.

• Rewarded Ads

Be more generous while rewarding. There has been gradual upsurge in the use of rewarded ads recently. This is because rewarded ads are one of the guaranteed ways of notching up the revenues.

• Help in monetizing non-paying users by offering currencies of their choice to pay
• Increase retention time and users interest both paying and non-paying by bringing them back and making them frequent players.
• Strong prediction of in-app purchase conversion.

• Add Banner Ads 

For banner ads, you provide your screen space to different products or brands which generates a moderate amount. They can get you around $2-$3 CPM which is not very significant but is worth it. However, make sure the ads are placed in a way that they shouldn’t be annoying or slowing down the game. Otherwise, an irritated player is quick to leave. Keep the ads either on the top or on the side such that it doesn’t cram the gaming screen.

You can even make use of videos, where every view of the video leaves behind some cash in your bank. It is no hidden truth that people are more drawn to video and other visuals than going through pages of content, there are very rare circumstances where they do, anyway, with the videos there are more chances of views. The player gets in-game coins. You get to smell real cash!

• Removing Ads

Nobody wants speed bumps while driving on empty roads in pleasant weather listening to the music of their choice, right? Similarly, make your game so attractive that people would never want to quit, and then you can offer a version that has no ads at a price. If you have a solid game that people would get hooked to, they will surely go for the without ads version.

• Subscription 

Previously the domain of PC and console games, the subscription method has gradually been experimented and integrated into in-app purchases offering not only premium versions of games but also to increase revenues. The burgeoning increase of subscriptions on Google Play, monetization through subscription is a smart idea with no hesitancy on the part of the players. A subscription strategy is also an approach that is for long term and creates more trust among the players.

• Charm it Up With More Life and Energy

There are life and energy restrictions in games. This makes the gamer impatient to unlock these, what you can do set a price for those who want to get more of these. Usually, the lifelines and energy vary from 3 to 5 chances, once the ceiling is hit, any player will have to pay to acquire more of these.

You can even sell ringtones and wallpapers of your games to more enthusiastic players who love collecting such things. All such features add more charm to the game. You can make use of selling coupons too that will excite gamers. The coupons can be used both for ringtones and wallpapers as well as you can work in collaboration with different businesses to offer concessions on their products. This will definitely be a dazzling winning move on your part. You can place these coupon winning option as the players ascend to higher levels. The higher the level, the more exciting and generous the coupons get.

• Showering Beneficial Items

You can offer additional benefits like extra abilities or cheats to the players. These abilities will require them to pay for the items. Extra features are spice adding techniques, but your games should be equally irresistible that make people yearn for more features. You can maybe add more equipment to a game or unlock more areas within a level to raise the curiosity of the players enough to make them buy the advantaged items.

Also Avatars has become a popular notion. You can offer avatars to the users as they feel more related to any of the characters. Any character which is unique and has amazing qualities to it is more attractive to the gamers and can interest them enough to purchase one. There are also virtual goods that you can offer a reputable brand that woos your gamers. Virtual goods attract tech lovers like honey attracts bears!

• Dividing Levels

You can introduce levels and challenges for the game you wish to introduce, or if you have already added you can change your tactic. Bring in more tasks and challenges, but they should be amazing! Dividing levels means you can offer an improvised version with every level that is better than the former. Break the game into stages, with each upgraded and filled with more features. Every level can be priced so that once you have completed the first one, you will have to purchase the next. The levels obtained should definitely be better in visuals.

• Increasing Buyer Conversion Through Targeted Offers

Buying conversion rates require you to be smarter since buyers buying preferences change after the first purchase. You have to understand where and when you need to raise or lower the price. Since the players’ inclinations are unpredictable, you have to keep on fluctuating prices. Although, players do buy costly games but reducing the cost a bit may increase more players. However, depending on what you have to offer, you have to draft your strategy smartly.

• Merchandising

Merchandising is a very popular and trendy way of monetization. Businesses have acquired this approach, and slowly games too have shifted to it. People enjoy buying merchandise that flouts their favorite games to all. You can include T-shirt, lunch boxes, cups, jackets, even cases. Children are more attracted to this. To get the attention of enthusiastic adults as well, you can also include stationery holders, wallets, laptop covers, and key chains. Introducing merchandise is never going to get old and get your more revenues.

LowDown

Despite all these monetization methods, the linchpin is the quality of the games and how engaging it is. By understanding your players better you are able to devise fruitful ways that are lucrative. Keep track of the progress of your game so that you have a better idea of what keeps your players coming back to play. You can use the game analytics tool to gauge your performance and keeping a record of your games performance. Incorporate these to your games, and you will see a marked difference in your earnings!

Author Bio

Jeff Finder is a Digital Nomad who travels around the world and blog about technology, gadgets and specifically laptops at Laptopcut.com. He’s also an international speaker and love to persuade youth to find their voice online and make it count.