EnhanceMyApp Podcast 03: Monetization Strategies

In this week’s podcast, we discuss mobile app monetization with Trevor Williams, Senior Director of Monetization at Hi-Rez Studios. Even though Hi-Rez mostly focuses on in-app purchases for their free-to-play games, the principles discussed in this episode should prove incredibly valuable for your overall mobile monetization strategy.

We start by chatting about the first steps every developer should take when creating their initial monetization strategy, as well as the key factors that correlate to its success – retention and engagement. Trevor offers some great insights into how Hi-Rez Studios proactively analyzes and acts upon various user behaviors to fine tune retention, engagement and ultimately monetization, all while never affecting the core experience for their users.

You likely won’t earn revenue from every single user, but if your app has a monetization-first experience, it will kill your retention. Your app or game has to be fun or useful first, then you can design a strategy to earn revenue around it. A popular way Hi-Rez Studios likes to monetize their highly retained users, says Trevor, is by offering in-app purchases for what they call outer-loop items. These are items that don’t inherently affect the core experience, such as exclusive cosmetic enhancements or skins. This is a large part of their monetization strategy, but it can only be realized by retaining users. New users spend less money, if any, compared to fully dedicated and invested fans.

We finish up the episode by discussing more general monetization tips that is sure to help all levels of app developer, from indie to AAA. From targeting like-minded users on Facebook to creating partnerships with platform providers, there’s a lot of great material to absorb from this episode.

We want to thank Trevor Williams for sitting down with us to share all these amazing nuggets of monetization gold. If you’re enjoying our podcast, you can follow it on any of your favorite platforms.

Head over to enhance.co/podcast to find all the links. Also, don’t forget to follow us on Facebook, Twitter, and Instagram to get updates about Enhance and our podcast!

If you missed our last episode where we discussed user acquisition topics, you can check it out here.

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