Apps have managed to become an integral part of our lives, as pretty much everyone uses them on a daily basis, and quite frequently at that. There are a number of ways you can monetize your app business, if you're a developer, and Google has just shared some ways you can do so by using ads.
Google emphasizes the importance of finding the right users for your app, as there are a ton of apps out there, and you need to know your targeted audience. The company actually mentions Google App campaigns, which allow you to choose a bidding option that best supports your growth goals. Google has singled out Target CPA bidding, which makes finding new users who install your app rather easy.
The company also says that you'll soon be able to bid on a target return on ad spend (tROAS), and that will enable you to automatically pay more for users likely to spend more. Opposite to that, you will also be able to pay less for users who are more likely to spend less, which is quite important for you to grow profitability.
Once you reach the right type of consumers, your goal will be to keep their attention, of course. Google actually suggested several new ways to develop and manage your creatives, which help you to show your consumers more relevant ads.
As part of this, Google listed YouTube, Ad groups, and Agency partnerships. The company says that you will automatically quality to promote your app in two new YouTube placements when you have at least one landscape image and video. One placement is on YouTube's homepage feed, while the second one is on in-stream video.
Starting later this month, Google will allow you to set up multiple ad groups in the same campaign, and on top of that, tailor the assets in each ad group around a different "theme" to cater the right consumer.
Google is also teaming up with eight well-known agencies in order to help ad developers, including Vidmob, Consumers Acquisition, Bamboo, Apptamin, Webpals, Creadits, Kaizen Ad, and Kuaizi.
Once you're done all that, creating a sustainable revenue stream is of utmost importance. This essentially means that you need to find a way to keep your users engaged in your application, while utilizing the right monetization strategy. Admob does help with that quite a bit, as it has automated solutions that will help you earn more from your app, says Google.
Open Bidding is a monetization model that Google announced last year in order to help developers maximize the value of every impression automatically. Open Bidding was launched as a beta, and a number of developers have joined, which resulted in an increase in profitability in most cases.
In its blog post, Google also listed several ways that AdMob can help you grow your app revenue. AdMob's "Image search" feature is essentially a search tool which will help you to identify and remove bad ads using just a screenshot of the ad. Maximum ad content rating can prevent inappropriate ads from being shown to young users, and User metrics are a great way to give you insight into your monetization strategy. Google will talk more about all of this during Google I/O.