What's the link between mobile monetization and user behaviour?

Consumers are now spending more time on their mobile devices than ever before. In fact, for the first time ever, “Internet Trends Report" found that people spend more time on mobile devices than on desktops or laptops. This truth has far-reaching consequences for businesses functioning in the digital realm. Rising mobile momentum provides them with not just a broader audience to promote their product to, but also a larger pool of user data to monetise their consumers. 

The economy of data interchange 

As Douglas Laney, vice president and analyst at Gartner, pointed out, organisations today have access to an increasing amount of data, which is broadening the reach of the consumer profile. Consumers are eager to get into reciprocal agreements that use their personal data in exchange for free content, such as mobile applications, because data is now a corporate commodity. Consider the study "What's My Worth?” from the Opinium Research report. According to the study, 79% of customers are aware that mobile advertising is the price they must pay in exchange for access to free content. The reality is that today's advertising relies heavily on data, and as a result, mobile consumers are more eager than ever to disclose personal data if it improves their experiences. 

"Mobile monetization is directly influenced by user behavioural data."

Conversions increase as a result of personalization. 

Because it encourages more conversions, behavioural data has a direct impact on mobile monetization. Users are far more likely to participate in surveys that are tailored to their personal interests – particularly once they get started. In fact, according to our own research, around two-thirds of consumers complete survey items after starting the process. The drive for customization pervades our society now in every way. Consumers want tailored experiences that are relevant to their needs and interests from shops, businesses, and services. Digital firms may monetize more effectively and earn more money as conversions rise by using user behavioural data to this purpose. 

More strategic monetization is facilitated by user behaviour. 

Monetization for mobile devices can take several forms. Some businesses rely on display ads, while others use incentive-based, interactive platforms such as survey walls. User activity can help companies decide which strategy to pursue and urge advertisers to invest in an app or mobile site. Companies can, for example, collaborate with the relevant brands and ads based on user behaviours and preferences, resulting in the highest number of conversions. Furthermore, mobile businesses that have a thorough understanding of their target market are more likely to attract advertisers that will be successful with their target market. This information also makes it easier for publishers to deliver tailored surveys that their users may complete in exchange for prizes, allowing them to monetize their websites and mobile apps even further. 

The mobile world's backbone is data and content. Consumers around the world now have access to a wealth of free tools and services thanks to the rise of mobile content, to the point that digital users expect the majority of their content to be free. Effective mobile monetization relies on user behaviour. Businesses may successfully drive income from their mobile app or website with the correct insight. 

How might Developers improve app user acquisition? 

When it comes to building a mobile app for their clients, Developers have a number of options. App monetization can be a reliable source of revenue that isn't as reliant on the industry's poor profit margins as other forms of revenue. The app, on the other hand, is only useful if people use it. Many of the advantages of placing a brand on a smartphone would go unmet without a strong app user acquisition plan. Brands should not, however, rush the process of creating an audience because the benefits are dwindling. Getting customers to download your app should be natural, and there are a few best practises for doing so. 

Identifying the target market 

A typical blunder made by Developers is to create an app that appeals to as many people as possible. While this will undoubtedly boost the number of users, it will almost surely result in a high amount of churn in the long run. When creating an app, it's critical to keep your target audience in mind. Because its target audience is people who will want to utilise the programme on a regular basis, a loyalty programme that focuses on frequent and persistent clients may be the most effective." Soft-launching the mobile app, like other retail products, can help determine viability." 

It's time to think about how to reach out to your target audience once you've identified them. Localytics recognised the challenge of this initial endeavour and offered some recommendations for how to proceed. Soft releasing or beta testing the software with a small group of committed consumers is one option. This isn't a new practice for Developers: Many goods are tested in specific regional markets before being released, so it's not a reach to do the same with a mobile app. This has two advantages: It piques people's interest in the app and aids in the ironing out of wrinkles based on actual user feedback. 

Keeping them guessing 

Getting more users for mobile apps that have been in place for a long time is a little more difficult. After all, the brand and app are well-known, and many new users are easy to come by. One method to overcome this problem is to provide more ways for users to earn rewards by motivating them. Instead of simply rewarding points, Developers might make other activities redeemable for points in exchange for customers participating in marketing research surveys. Customers get a better way to earn rewards like gift cards or special discounts, and you get a new revenue stream. 

According to Academy by Pulsate, another trick is to update the app with a new look. By adding new features that improve the user experience, shoppers will be more inclined to use the app and recommend it to their friends, who will then join up for their own benefit. While Developers should avoid adding too many new features to the app, adding a few extra components that make it more enjoyable or easier to use is always beneficial. A change in appearance can also be beneficial because it creates the feeling of newness.