The mobile landscape is continuously evolving, and as we step into 2024, the strategies for enriching the user journey continue to shape a mobile app’s success. One such strategy is Offerwall monetization. In this blog post, we’ll explore three significant ways Offerwall monetization can enhance your user journey, from acquisition to retention.
Table of contents
- #1: Increase user acquisition with Offerwall integration
- #2: Boost user engagement with rewarded ads
- #3: Improve user retention with smarter monetization
- In conclusion
- Sources for further reading
#1: Increase user acquisition with Offerwall integration
What is user acquisition?
After becoming aware of a mobile app and searching for it in an App Store, the next stage of a user journey is downloading the app.
When the app is under a paid monetization model, they must choose if they spend the money to download the app. But, the developer can make the user’s decision easier when there is no paid barrier. With that free download, you have acquired a new user.
Attracting new users is a perpetual challenge, and Offerwall monetization presents an innovative solution.
If you use a barrier-free monetization method, like Offerwalls, user acquisition is your first step in implementing your in-app strategy. Offerwalls strategically integrate rewarded advertisements within apps and entice users with incentives such as virtual currency, exclusive content, or discounts in exchange.
Did you know…?
Over 90% of mobile apps begin as free to download. However, just because the user doesn’t pay for the app doesn’t mean they’re not profitable. The mobile app market generated around $533 billion in 2023, with mobile games listed as the largest app category.
So, where does this money come from? About 68% of the money generated for the mobile app industry comes from advertisements. App monetization is primarily through 1) selling some form of advertising space within the free version, or 2) using a Freemium strategy, where users pay for additional features within the app.
The first of those options is where Offerwalls come into play. The advertisements are strategically integrated into the apps to reward users for their engagement. Then, app developers can profit from the advertisement itself. Users are not limited by their unwillingness or inability to pay for more features and are instead motivated to explore everything the app has to offer.
#2: Boost user engagement with rewarded ads
How can Offerwalls help boost user engagement?
Once users are on board, the next challenge is to keep them engaged. Offerwall monetization enhances user engagement by turning what could be perceived as momentary barriers to a reward into interactive and fun experiences.
First, Offerwalls do not interrupt play and are shown only when a user initiates them. This feature can be beneficial, when compared to interstitial or banner ads. Offerwall monetization strategy is similar to in-game video ads, which allow users to choose to watch an advertisement for a small reward as the play progresses.
Interstitial and banner ads pop up unprompted by the user, who experiences only the reward of continuing the game once the ad is complete. With Offerwalls, users interact with rewarded ads that give them an extra in-game boost or a more premium experience.
When prompted, Offerwalls give users a choice of advertisements to watch, games to play, or surveys to answer. The users then choose how they earn their reward and, in return, try or learn something new.
Offerwalls work well for users who are engaged in the app but may need more time to pay for an upgraded experience. These users can instead invest their time and attention to earn rewards for continued and improved use. The users earn a high-value reward in return for active participation and therefore remain engaged.
Did you know…?
According to 46% of over 2,000 game players, they prefer rewarded video ads to interstitial or banner ads. Additionally, 62% of those surveyed regularly engaged with a video ad for an in-game reward.
These statistics underscore the user preference for interactive and incentivized content, which highlights the potential of Offerwalls to contribute to user engagement.
#3: Improve user retention with smarter monetization
How do Offerwalls improve user retention?
User retention is the ultimate goal for sustained success. Offerwall monetization can enhance user retention by creating a symbiotic relationship between users and the platform.
With Offerwalls, users are not forced to view advertisements. They have control over how they “pay” to play the game or earn extra rewards, and therefore experience fewer play breaks.
When the user has more control over their gameplay, access to enticing rewards, and can enjoy the game’s progression with more premium features, their satisfaction will likely rise. Increased satisfaction can lead to continuous use of the app and, therefore, an increased user retention rate.
Did you know…?
The average 3-month churn rate for mobile users was 71% in 2018. There is hope in introducing non-intrusive monetization strategies such as rewarded video ads and Offerwalls.
62% of surveyed developers saw user retention climb or stabilize when they introduced video ads to their app. Users tend to stay longer when they perceive the ads as valuable and rewarding rather than intrusive.
- Offerwall monetization strategy can increase user acquisition because it does not require upfront payment to download the app.
- Developers can increase their app’s user engagement with Offerwalls because, through them, users can earn rewards for interacting with the displayed advertisements and explore additional premium features without purchase.
- Not only does user acquisition rise when developers implement Offerwalls, but so does user retention. When they switched to the Offerwall methods, 62% of developers saw retention climb or stabilize.
In 2024, Offerwall monetization is a dynamic strategy to monetize your platform and enhance the user journey. Offerwalls offer the opportunity to acquire new users, boost app engagement, and foster long-term user retention. Therefore, they can significantly impact your app monetization strategy.
For more information on implementing Offerwall monetization into your mobile app, check out Smatched’s offerings.