Online gaming is a booming industry, but it also faces many challenges and risks, especially when it comes to monetization. How can you ensure that your online gaming monetization model is sustainable, ethical, and profitable? In this article, we will explore some of the best practices and strategies to achieve this goal.
There are different types of online gaming monetization models, such as premium, freemium, subscription, ad-based, in-app purchases, and loot boxes. Each one has its own advantages and disadvantages, depending on your target audience, game genre, development costs, and revenue goals. You need to choose the model that suits your game best, and that offers a fair and transparent value proposition to your players. You also need to consider the legal and ethical implications of your model, especially if it involves gambling elements or addictive mechanics.
Choosing the right game monetization model involves understanding your game's nature, target audience, and market trends. Consider the replayability, engageability, and player satisfaction. Analyze competitors and industry trends, and be open to experimentation. Tailor your approach based on player feedback, and consider regional differences. Balancing monetization with a positive player experience is key. Regularly update your game and iterate your strategy to stay relevant in the dynamic gaming industry. Optimizing this is an ongoing project that changes as your playerbase, and game evolve. Its important that you retain some agility here, which is somethign that should be planned for early so you're ready to adjust.
What's written on the left, can be simplified. F2P games can be monetized by ads, by IAPs or by both. Make sure that the monetization model you use is adapted to the users. Older people are generally more interested in comfort and can spend money, while the younger ones don't have money to spare and are more willing to wait through ads. Then, you also need to figure out the gameplay loop, how the players are going to spend their resources and how they will replenish them - this is one of the most important things when it comes to monetization.
Hoy día vivimos en una época en donde los juegos son vistos como servicio Un live service demanda tiempo, recursos y es mucho de project management. Elegir una monetización parte de después de haber analizado a tu audiencia y saber que es lo que más le gusta de una monetización, ejemplo: un pase de batalla, que recompensas obtendran? seran experiencias unicas?, todo parte de un objetivo y es necesario conocer a tu audiencia
Once you have chosen your monetization model, you need to optimize your pricing strategy to maximize your revenue and retention. You need to research your market and competitors, and understand your players' preferences, behaviors, and willingness to pay. You need to balance your pricing between being too low and leaving money on the table, and being too high and alienating your players. You also need to test and adjust your pricing regularly, based on data and feedback, and offer discounts, bundles, and incentives to encourage purchases and loyalty.
Optimizing your pricing strategy for maximum revenue & retention involves a balance. Start by understanding your audience, analyzing competitor pricing, and considering regional variations. Offer a compelling initial price or freemium model, ensuring value for money. Implement in-app purchases strategically, focusing on enhancing rather than hindering gameplay. Regularly update content to maintain player interest. Leverage discounts and limited-time offers to drive engagement. Monitor player feedback, analyze data, and be flexible, adjusting your pricing model based on real-world results to continuously improve revenue and retention. Depending on your platform there are many ways to look at the market. Understand that its always changing.
It's perfectly fine to have a look at your competition's prices. This provides valuable data by which you can estimate how much resources you can provide for a set amount of cash - adjusted to your game. I also strongly encourage to AB test prices in stores, as it's possible that the assumed price could be outperformed in terms of MARPU by a different one. It's often about experimentation.
The key to a sustainable online gaming monetization model is to engage and retain your players for as long as possible. You need to create a compelling and immersive game experience that offers variety, challenge, and social interaction. You need to update and improve your game content and features regularly, and listen to your players' feedback and suggestions. You also need to build a loyal and active community around your game, and reward your players for their participation and referrals.
LiveOps events are not only fun for the players, but can also provide a great opportunity to deplete the population of a particular good or currency. I strongly advise creating cyclical events that focus on a particular currency/resource in order to incentivise people to not only buy the goods but also to spend them. Purchases are great and all, but having your players hoard a particular resource is a negative occurrence and the events described above help with mitigating the severeness of such behaviour.
To ensure that your online gaming monetization model is working well, you need to monitor and analyze your performance constantly. You need to track and measure your key metrics, such as downloads, active users, retention, conversion, revenue, churn, and lifetime value. You need to use analytics tools and dashboards to visualize and understand your data, and identify your strengths and weaknesses. You also need to conduct A/B testing and experiments to optimize your game design, monetization model, and marketing campaigns.
The online gaming industry is constantly evolving and changing, and you need to keep up with the best practices and trends to stay ahead of the competition. You need to follow the industry standards and guidelines, and comply with the regulations and policies of the platforms and markets you operate in. You also need to research and learn from the successful examples and case studies of other online games and developers, and adapt to the changing needs and expectations of your players.
Your game doesn't exist in isolation. Its part of a larger market and consumer value perception is in part driven by other games consumers know. If you have the sort of game that's usually $5 but you think its worth so much more, you can try for a higher price but be ready to adjust if consumers don't want to meet you there. We've seen this with a lot of mobile games historically, which tried to sell for a price but found that on mobile consumers tend to expect games to be free to play, so new tactics need to be employed there, offering the games for free but monetizing in-game, for example. Trends are always changing, as are best practices. There is no right answer and even if it was, its a moving target. Be agile and observant.
What's written on the left here is to a degree reiterating parts 1 and 2. Do market research, understand the market your game is entering and the region it's entering. F2P FPS games in the west don't typically utilize weapon rentals while it's still seen more in games where the main market resides in SEA. Looking at competitors is never a bad thing, it just gives you an understanding of the current environment. The big thing for monetization is to understand a game may still have an active playerbase but have an archaic monetization system not used by games with more recent release dates or a system may work for one game but not work else for others, like skin boxes didn't work for a lot of games that tried them.
Finally, to ensure that your online gaming monetization model is sustainable, you need to innovate and differentiate yourself from the crowd. You need to offer something unique and valuable to your players, that they cannot find elsewhere. You need to experiment and explore new ideas and opportunities, and leverage the latest technologies and tools to enhance your game experience and monetization potential. You also need to create a strong and distinctive brand identity and voice, and communicate your value proposition clearly and effectively.
You can try to innovate with new revenue models. Thats certainly possible and every once in a while someone nails it but understand that this can be very hard as it requires consumers to understand and participate in your new model. More often than not you risk confusing or alienating consumers. They're usually more comfortable with what they know. If you're going to introduce a new monetization scheme you need it to be perceived as very worthwhile and generous - a no brainer to spend money on. If consumers are confused at all they will get scared and possibly angry. Try new things - that's how we innovate and change the market, but understand the risks and make moves to mitigate them.