Another monetization method is via the rewarded survey. Like the name purports, a user completes a brief survey and then is rewarded with in-app currency or some other type of value.
This is an effective monetization strategy because it has a high engagement rate and can generate significant revenue. The key to this strategy is to design surveys that are relevant to your app's content and of interest to your users.
While survey monetization is a less common strategy than other monetization models, it has one of the highest eCPM (effective cost per 1000 impressions – the amount an advertiser will pay you per one thousand impressions in your app) as well as one of the best user experiences.
Survey monetization partners work with brands that are directing market research studies and inquiring about their user’s opinions and thoughts on specific topics or products to better understand a particular demographic’s school of thought.
When a user takes a survey, (provided by the company you’ve partnered with), the app publisher receives a reward for each completed survey. You can then decide how much of that reward you give to the user and in which form.
After partnering up with a survey monetization partner and integrating it within your app, surveys will be available in your app, usually through a button that opens a web view with several survey opportunities.
Typically, users can select surveys based on the time estimated for the survey and the reward they will get. Additionally, the more exclusive surveys are (how refined the targeting is), the higher the reward is for that survey.
When it comes to survey monetization, there are a few things to consider before deciding if it’s the right strategy for your app. Here are some of the advantages and disadvantages of this monetization strategy:
One of the most critical aspects of this monetization strategy is finding a good survey partner (like inBrain). A survey partner that works well with your app and provides high-quality surveys will generate more revenue for you. For example, with the inBrain Survey Wall, publishers are able to update hex codes so that things look native to your app. Additionally, inBrain's Native Surveys™ allow for publishers to inject the inBrain survey experience wherever you place native ads.
Survey partners also differ in the way they work with app publishers. Some partners allow you to whitelist your app, which means that only users who have your app installed will be able to see and complete surveys.
Other partners work on a CPA (cost per action) basis, meaning you will only be paid for each completed survey. The advantage of this model is that it gives you more control over the quality of the surveys.
When deciding which survey monetization partner to team up with, the two main factors you should be aiming for are a great user experience and high revenue per user.
In order to guarantee an excellent experience for your users, we advise you to look if the partners you are looking into offer the following:
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