How To Generate Revenue From Your Online Gaming Platform?
The mobile gaming market is growing exponentially across the globe. People put countless hours on their smartphones and other digital devices every day.
Mobile game monetization is one of the imperative pointers to consider while building mobile game apps such as Ludo, chess, rummy, and lots more. It takes a huge amount of money, time, and effort to create and maintain an online gaming platform. That’s why you need to find how to make money out of this online gaming platform, so that not only it covers the costs but also make a profit.
There are a plethora of ways to generate revenue. So, which monetization strategy is best for your gaming app? There is no fixed answer to this question. Monetization strategy varies with business. In the majority of cases, a blend of two models will yield the best outcome.
In this blog, we would be discussing effective ways of generating revenue from your gaming app.
Let’s start with monetization strategies.
1. Registration fee
As a game publisher, you can make money from your gaming app by charging a certain amount as part of registration from your new users.
2. Freemium
The Freemium business model is one of the effective revenue generation models to generate money from your online gaming platform. As the name says “Freemium” that means “free” and “premium”.
In this revenue model, you provide two versions of your gaming app. The free version has some basic levels of your gaming app and the premium one allows your game lovers to unlock advanced levels.
The aim of this model is that users will download the free version from app stores and have a nice experience. This would further force users to pay the amount for the premium version to unlock other levels.
3. Sponsorship
Are your users loyal? If yes, why not deal with other businesses?
You can have a sponsor’s logo on the splash screen, in the footer, as an icon. The strategically move here is to get in touch with potential sponsors from your niche. And instead of paying sponsors, you need to provide products and services of your sponsors to your customer base. This would help you to generate some good revenue.
4. Affiliate Ads
You need to look for an influential celebrity and begin working with them. They will promote your gaming app to their customer base and you’ll get new users. Or you can invite an influencer to become your gaming platform’s ambassador. As you have observed most brands approach this model. As you have seen some popular YouTubers promoting some services. This way an influencer can shoot up your app awareness in no time.
5. In-App Advertising
The in-app advertising model has various types of ad formats such as banner, videos, native, and interstitial. In order to generate revenue and building strong user experience, first, try to figure out which ad format will work best for your gaming business. Either you can choose anyone or go for a hybrid format. Thereafter, invest time in researching the best way to create those ads for amazing results.
6. In-Game Purchase
With the in-app purchase model, the app user purchases additional content, in-game currency, and additional levels which otherwise requires fulfillment of certain conditions.
7. Subscription Charges
In the subscription model, you can charge players typically monthly, quarterly, or yearly, to access advanced services. As long as you offer your app users value, they’ll continue to pay.
The kind of model works well with strong customer relationships. The more you understand your customer, the better your online gaming platform is in sync with their expectations.
8. Paid Ad
With this model, the gaming app publisher generates money by charging an upfront price each time the app user downloads the app. However, it is the oldest app monetization strategy that does generally not work well today. Still, you can make use of this model with some other revenue model.
Final Thoughts
Nowadays, you can find a plethora of monetization to generate revenue from your app.
You can go with any one of the aforementioned monetization strategies, even you can go with more than one as a hybrid strategy for effective revenue generation.
We at Appinop are specialized in designing and developing secure and appealing gaming apps. Our passionate and creative game app developers add value to the gaming industry by delivering amazing gaming app solutions such as Rummy game app development, Poker game app development, Chess game app development, and lots more. If you are willing to enter into the gaming market and want to start an online gaming platform, reach out to our subject matter experts with your gaming idea. We would be happy to help you in creating a gaming app to launching the app on app stores to promoting your app for wider reach.
Abhinav Chatterji
Abhinav Chatterji is part of the Digital Marketing team at Appinop Technologies. With a fine ability to craft writing pieces that present unique and fresher thought perspectives on different technology and business innovation factors, he creates content that connects with users. His deep-researched theories and valuable insights on industry-wide topics illustrate his accomplished writing portfolio. Product reviews, cost factor analysis, subject reasoning, and dissecting technologies are his power-traits.