Reward Based Mobile Advertising: What Is It and How to Make It Work for You
Reward based apps are apps that allow users to see or interact with ads to receive a benefit of some type. This has been one of the fastest growing forms of mobile monetization for apps and games over the last couple years. And an increasing number of app publishers are using rewarded advertising as a monetization strategy, which opens the door to some new and exciting opportunities for advertisers.
Here are a few points to know about reward based advertising and whether it might be a good fit for your business model and monetization strategy.
Where Do Reward Based Ads Work?
Lately, mobile games have seen the most success in implementing reward based mobile advertising. For example, there are many games that reward players with points, level progressions, or virtual goods when they opt to watch an ad.
For gamers, this is also a popular way to unlock new and higher levels in the game without having to make a purchase. Surveys have shown that many people who play free gaming apps are unwilling to spend money to get a benefit. However, they are more likely to agree to watch an advertising video in order to obtain game features or reach a new goal without spending any actual money.
Benefits of Reward Based Apps
Supersonic/IronSource revealed at a recent mobile conference that there was a 300 percent boost in growth of rewarded video advertising in 2015. This is a huge leap for this marketing strategy, and a promising one worth paying attention to. Some of the most common types of reward based mobile advertising are trailers for other apps, games, and products.
Consumer studies have shown that rewards generate significantly more excitement than traditional display ads and create deeper engagement and retention from users, which can keep users coming back for more in the future. Advertisers are willing to pay big for users with such values which in turn, heavily reward publishers.
Reevaluate Your Mobile Advertising Strategy
Reward based ads work better for some mobile apps than others, so it’s important to not force them where they don’t logically belong. Forced ads can harm user experience and in turn, a brand’s image. Advertisers should definitely consider rewarded advertising as part of their overall strategy to maximize the success of their campaigns.
Instead of sorting through mountains of data and spinning your wheels to attract valuable customers with traditional ads, contact us to learn more about how our OneRun platform can help transform your mobile monetization strategy from the inside out. We can help you ensure the best payouts for your inventory, enabling you to focus on the bigger picture and not the overwhelming details.