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About the Episode
Are you struggling with app monetization? Well today’s guest is from AppLovin, the fastest growing mobile advertising company, and he covers four core themes that top app developers employ to optimize their ads for higher monetization. Also, if you’re struggling with sales then listen to the part of the show when he breaks down his process which has led to relationships with some of today’s top brands.
Optimizing Ads for Higher Monetization
In dealing with ads, you need to decide first on what ad creative you want to run. Do you want to run banners,full screens, video, or rewarded videos?After that, decide on the placements or where you want to run your ad. In general, you would want to put your ad outside the action that your audience is taking, not in midstream (unless it’s native). You can place it on natural breaks — before or after the experience — so your users can really engage with those ads rather than just move on.
The next step is tracking the entire funnel. This is where you segment and understand the types of your users, whether they paying or non-paying users. From there, you can decide what type of ads you want to show non-paying ones to convert them or what other different ads you can come up with each segment.
Ads, in general, do not harm retention as long as they are done properly and not aggressively.
How to Build Relationships for Sales
Sales is all about relationships. If you are able to form a relationship with someone, you can take it from there. The difference between consultative sales and hard selling is that the former takes time in understanding what the customer is looking for and what they want. The first step in doing this is getting to know your customers and then connecting with them in the process.
For the introverted types, the optimal way to ease yourself into sales is doing one-on-ones rather than presenting in groups.Once you build the relationship up, the next step is to keep it going through constant contact. Some ways to follow up are email, instant message, phone calls and just keep the communications open to add value to the relationship.
In landing those top brands, what Mark’s team did was to build an advertiser’s suite with full transparency where they can acquire and reengage users to bring them back to the app so they can complete transactions. This solved their challenge where customer will shop but does not go through with a purchase.
What advice can you give to anyone looking to build a mobile app?
Research what’s out there and build something unique. Do something that people love, put a good twist on it and you’ll have more chances to succeed.
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