If you’re a marketer, a business, or a product creator, Google Play monetization may be a great way for you to make money.
This online content marketplace offers ways to build your online presence, make connections, and make money while you’re doing it.
Here are 3 big strategies for monetizing Google Play:
1. Think Outside the App
When we think of Google Play, most of us think about Android apps. After all, that’s why most of us visit Google Play.
But Google Play is more than just an app store. It’s an online content marketplace that allows you to market and monetize all types of digital content.
Here are the main types of media content you can create and sell:
- Movies and TV
- Newspapers and Magazines
While Google Play can’t quite compete with major online retailers such as Amazon, it does offer yet another outlet for you to market and monetize.
Publishing content on Google Play is fairly straightforward, and Google has a number of pages devoted to the topic.
To publish a book, for instance, you simply upload the file and adjust a few settings. Google does the rest. As with other self-publishing outlets, such as Amazon or Lulu, you share the royalties with Google.
Different formats offer different monetization options.
Here are the standard monetization strategies you can choose from:
- One-time charge at the time of purchase
- In-app or in-content purchases
- Subscription fees
- Advertising revenue
To employ some of these methods, you’ll need to be creative. A clever affiliate marketer, for instance, can place affiliate links inside of their books or magazines. And a business person who sells lectures via Google Play music may promote their products or services inside their lecture content.
As with any other business strategy, it pays to recognize that promotion and monetization go hand in hand…
2. Promote Yourself and Connect
Google Play is a global content marketplace. But online marketplaces like this offer more benefits than simply earning the profit from a sale.
In fact, self-promotion can be more helpful to your monetization efforts than the royalties you receive.
Here’s how to use these content marketplaces to multiply your earnings:
- Publish and gain instant access to a targeted, worldwide audience. Marketing is hard work. And it takes lots of effort to get a hold of the right customers at the right time. But when you release a product into content marketplaces like Google Play, you place your products directly into the hands of buyers…who are searching for products like yours.
- Publication improves your online presence. Another side effect of reaching these audiences through Google Play is increased visibility within your niche.
- You can leverage these marketplaces to build your reputation and authority. Creating and selling digital content is a great way to earn money. But it’s also a great way to establish yourself as a thought leader. Even self-published content lends an air of authority, which you can then use to drive up your marketplace value, sell more products, and increase your prices.
- Google Play is connected with Google Accounts…so use that to your advantage. For instance, when people review your content, you can respond to their comments. This level of interactivity allows you to add a personal touch to your marketing and monetization efforts. And, as every business person knows, people want to connect with people – so you’ll be able to improve your customer service.
3. Create a Tiered Pricing Structure
If you’re not yet well-known and you’re trying to increase your prices, create a tiered pricing system.
In other words, release content that is free – or very cheap – in order to gain access to a larger audience. People who don’t know you are more likely to buy inexpensive products at a lower price point. Then use that content as a stepping stone to your more expensive products or services.
For instance, release a series of books on a specific topic on Google Play for a dollar a piece. Then use those books to promote more expensive products such as online courses, membership programs, your business’s services, and so on.
Establishing a pricing structure like this will allow you to expand your reach, improve your value in your customers’ eyes, build trust, and acquire customers for your more expensive offers.
Always treat every product in your line-up as part of a larger sales funnel. The goal of every effective monetization strategy is, of course, building solid long-term relationships. Once you have customers on board, they are much easier to monetize and market to than new customers.
So to acquire new customers and build that trust, create a tiered pricing system that removes price as a barrier to entry.
Google Play is just one content marketplace among many. And, like other digital storefronts, it gives you immediate access to a worldwide audience. Leveraging these engines can help you market your products and build your online presence – and make money at the same time.