Monetizing upon scarcity, exclusiveness and uniqueness
There are a lot of things app developers can monetize around an app user but nothing compares with monetizing upon user feelings.
Designing an app to work in an abundance environment is usually a wrong strategic approach in terms of monetization. Abundance is usually not appreciated by anyone and does not motivate a user. Creating short times of abundance within a scarcity period, can be quite appealing and challenging for a user, creating several monetization opportunities in the way. An app user that is in position to have everything he needs whenever he needs it within an app, is quite difficult to be monetized.
Moreover, if an app is designed in a way that the user feels some sort of uniqueness while making progress within the app, or he is offered the option to has access to something exclusive, this can end up to very good conversions monetization wise.
An app developer should control scarcity when designing an app in way that users are always able to achieve a goal which is difficult (or has a price) but always feasible. If a user does not have all features available at once or does not have unlimited ammo, or unlimited weapons οr lives within a game for example, that user will appreciate more the opportunity to renew, expand or reveal resources through monetization moments either through IAP or by completing specific tasks like watching a video, clicking an ad or completing a survey. Trying to monetize an app user who lives in abundance within the app, usually converts to frustration and affects retention rather than converting around monetization.
Investing on the feeling of exclusiveness can deliver real good results for the app developer. A good monetization strategy can unveil features of the app that can only be achieved or acquired by an exclusive subpart of the user base of the app. Providing features that a user cannot easily have, usually results to users pursuing aggressively such features. It is in human nature to seek for things that you cannot have. The feeling of being able to receive some things exclusively usually increases the desire of the user and ends up to more straightforward monetization moments for the developer.
Making an app user feeling unique during the app’s lifecycle, creates several opportunities too. For example, during a game when a user completes a level, the app owner can reward that user for his performance and maybe give him the option to win/buy some virtual goodies or get a discount in a purchase because of that “special” achievement. This approach gives to the user the emotion of uniqueness and gives the feeling of seeing an opportunity because of achieving something..for outstanding from the crowd..for being unique…!! The app developer can capitalize upon this feeling, with several different monetization options.
All the aforementioned feelings and emotions usually overlap. Being able to implement and achieve them within the app’s lifecycle upon a user, can create very good monetization chances and therefore they should be considered and implemented by the app developer when designing the monetization strategy of an app.
Monetizing upon scarcity, exclusiveness and uniqueness was last modified: March 16th, 2015 by Andreas Vourkos