As an app developer or publisher, you’re always looking for new ways to monetize your app. The landscape is constantly changing, and staying on top of industry trends is essential for maximizing revenue over the long haul. At the same time, though, you have to keep user experience in mind at every turn. A temporary increase in revenue isn’t worth it if it results in user alienation, low engagement, and poor retention.
Unfortunately, these kinds of problems tend to crop up with certain forms of monetization. For example, you might increase the number of ads that users see in order to generate more revenue. At first, you see a bump in revenue growth. Over time, though, users are turned off by all the additional ads. Eventually, you notice your user base start to fall off. Next thing you know, you’ve got a major user retention problem on your hands.
Fortunately, though, there’s an approach to app monetization that can actually increase user retention and engagement: rewarded surveys.
Here at TheoremReach, our goal is to offer publishers the ability to maximize revenue while ensuring that users are engaged and rewarded for their participation. How does it work? Let’s take a look at a recent case study.
Case Study: SquareTwo
TheoremReach partnered with SquareTwo over a year ago, a publisher working in the gaming space. Their primary goal was increasing revenue without impacting their existing ad revenue (or cannibalizing other partners). Additionally, they wanted to increase user retention and engagement as much as possible.
SquareTwo placed the TheoremReach SDK in a highly trafficked area of their user funnel. When users encountered the SDK, it would launch a survey wall of up to eight different surveys. Users had the opportunity to take different surveys of varying lengths, each with its own payout amount.
One of the best things about working with TheoremReach is our innovative “partial payout” model. With this model, users are rewarded for their time simply for encountering the SDK, regardless of whether or not they actually complete a survey. With this unique approach, publisher revenue is maximized without running the risk of user alienation.
The results speak for themselves. After implementing TheoremReach’s rewarded survey solution, SquareTwo experienced:
- 12% increase in ARPDAU (Average Revenue Per Daily Active User) over their revenue with a previous survey in place (using a different survey partner)
- 6x the user retention amongst rewarded survey participants
- 3x the previous in-app purchase conversion rate for rewarded survey takers
- A 3,000% increase in user lifetime value amongst rewarded survey takers
Dave Yoo, CEO and co-founder of Square Two, sums it up thusly: “Market research surveys are an integral component of our user experience. Not only do they contribute to a significant portion of our revenue, they also promote ongoing engagement that improves our other KPIs.” What more could you ask for in a monetization channel?
Other Benefits of Rewarded Surveys
Partnering with TheoremReach to offer your users rewarded surveys brings with it other advantages, too.
In addition to increased user retention and engagement, one of the best things about integrating TheoremReach’s tools with your app is the ability to access user demographic info from within the TheoremReach dashboard. With this extra data, you’ll have the ability to increase your CPMs over time. Plus, we all know that data is the key to effective monetization. With the additional user demographic info that you’ll obtain through partnering with TheoremReach, you’ll be able to increase revenue across other your other monetization channels, particularly any advertising channels that you already have in place.
Have you ever wanted to survey your users? Are you looking for feedback on a new feature, or user suggestions for what they’d like to see next? Integrating a survey into your app can be a complex and time consuming task if you go it alone. But with TheoremReach, you’ll have the ability to design and run your own customer surveys to gather user data and opinions. This is a powerful way to go even further when it comes to increasing engagement and retention. By learning what your users want and gathering feedback, you’ll have the data you need to make informed decisions when it comes to product development.
Get Started With TheoremReach
Are you ready to increase revenue while increasing user retention and engagement at the same time? With rewarded surveys, these goals don’t have to be mutually exclusive: you can achieve all of them simultaneously. TheoremReach is here to help you grow your revenue and engagement with rewarded surveys. Sign up now to get started.