Why you should consider Rewarded Surveys for your Monetization Strategy

Rewarded Surveys, a new way to monetize mobile apps and games is becoming more popular than existing ways like CPC, rewarded videos etc, but there is very little information and data published about them. This article covers what you, as an app developer or publisher, need to know. It will provide some background about the market research industry and, most importantly, performance data and other key considerations to help you stay informed when it comes to Rewarded Surveys.

Market Research is a big Industry and  is undergoing a massive transition as it fights to keep pace with rapid technological change amongst consumers and companies. The objective of market research is to help companies to make more wise decisions by asking questions to appropriate audiences. 

This industry is so huge it is in the same league as certain big companies in terms of annual spending levels. Similar to the advertising industry, market research has gone through an advanced evolution over the past 20 years to keep up with consumer technology. In recent times methodologies were mainly driven by data collected through face-to-face interviews. This process evolved from face-to-face to phone-based interviews and then, online research has been the primary use through email based online consumers panels across the world and now more advanced phases have come up which are called survey routers with advance level capabilities like auto profile matching, less disqualification and with less survey fraud risk.

One thing to note here is that traditional email has become an outmoded medium and online survey panels are expensive to build and maintain and have a very high dropout rate.

Mobile Rewarded Surveys are the next evolution in market research. They make it possible to turn this huge industry into a worldwide monetization opportunity for Free To Play mobile games. Rewarded Surveys are straightforward and work much like the famous Rewarded Video common in mobile games today. They give app end users and gamers a new, opt-in mobile format to earn virtual currency by sharing their opinions about top brands. And you can also limit the LOI of surveys with some companies like rapidoreach and make this experience even better.

Advantages:

The advantages of Rewarded Surveys in Free To Play games range from revenue generation to audience insights data for market researchers. 

Below are four reasons why you should consider these rewarded surveys in your game:

High Revenue Yield & Better Conversion — Rewarded Surveys pay between $0.5-$20 per completed survey making this a high reward, high yield and conversion monetization method. Huge Demand Consistency — MR industry always has new surveys coming in for users to take in all industries including CPG, Auto, Music, Education, Food & Hospitality, Entertainment and many more. This monetization method has a constant flow of fresh survey inventory all the time, regardless of the season. Outstanding  International Reach— Finding quality international survey takers is an increasing need for Research Buyers. We work with many clients looking for respondents worldwide. This need aligns well with app and game developers that have large international audiences and are looking for more ways to monetize.

App Users Data for Developers themselves — Rewarded Surveys provide developers with an enormous amount of anonymous, fresh new direct from their audience data such as: age, gender, ethnicity, income, relationship status and more. Common use cases  include: marketing, liveops, advanced user segmentation, data enrichments and UA targeting.

Engaging & Quality User Experience

Instantly upon completion, users are rewarded with within-app virtual currency and the mobile developer gets paid.

As per our experience, mobile gamers enjoy sharing their views about top brands and companies. They want to be part of the product development lifecycle in some way and see it as a way to help shape the future.

Less Survey Disqualification Rate 

We are often asked about fill rate but a better way to think about this topic for Rewarded Surveys is in terms of match rate. Match Rate is the rate at which survey inventory is matched to a specific user based on demographics. Market Researcher and businesses need certain demographics of respondents e.g. A working male with two children living in the US. To complete their surveys effectively, the key to a high match rate is aggregating a wide range of high volume survey vendors that cover the range of all demographics.

RapidoReach works with hundreds of Market Research Buyers and Online Panel Vendors with rapidly growing needs to find respondents worldwide. We at present support regional research in more than 20 countries with fastest growth in USA, Europe, Asian, Australian, South American markets. 

We have a large inventory of surveys available from our own DIY research tool as well as third party survey panel marketplaces like Lucid, Dynata, and Cint etc. Therefore our survey disqualification rate is very slow and we match higher conversion surveys to the users.

App, Game and Website Economics

Rewarded Surveys bring a substantial revenue opportunity to Game Developers. The economics work on a CPA model where Developers are paid for each completed survey (CPA). Payouts based on the survey range from 0.5 to 20+ USD per complete and developers choose how much virtual currency to reward based on their economy. This translates to high value rewards to the user as currency payouts often reach levels 50–200X higher than a comparable Rewarded Video view. From an ARPDAU(Average Revenue Per Daily Active User) point of view, the key is to build monetization strategies that promote high opt-in rates. This differs by game but a 10-15% opt-in rate is a good conversion and eCPMs are calculated from CVR(Conversion Rate) and the CPA. The average Conversion Rate also varies by game type and we see ranges from 10%-25% on average. Repeat usage is key because the average repeat user will convert 2X the overall average.

With the high CPA and high Conversion Rates of Rewarded Survey your app or game would add an additional 1.2 cent ARPDAU(Average Revenue Per Daily Active User) by monetizing the 10% opt-in DAU(Daily Active User).

Keys to Success

There are many monetization models to choose from in Free To Play gaming. Below are three best practices to improve user experience and yield with this format.

1. Set Clear User Expectations:

Set clear expectations with your app and game users by adding context to your Call-to-Actions. Gamers often have a choice between CPA, iAP, Offers, Video or Surveys to accrue virtual currency. By setting clear user expectations, your gamers will have much more opt-in success and produce higher yield.

There are three ways to set expectations with Rewarded Surveys. The first is to be explicit with the Call-to-Action. Tell users exactly what to expect when they opt-in.

2.Use Rewarding Moments of the App or Game:

Rewarded Surveys converts best when users actively opt-in. We see the highest results when surveys are presented during “rewarding moments like when a user wants to purchase a weapon ” in a game. Think about your game flow and the moments when a user is in need of an upgrade. These are the best moments to present a survey opportunity to earn.

Second, be honest and upfront with the size of the reward for completing surveys. Our data shows that CPI is the best motivating factor gamers consider before choosing to take a survey. Market this and let users know how much reward currency they can expect to earn for completing this action.

Lastly, set expectations regarding the time it takes to complete a survey. You can also control the max LOI for rapidoreach surveys  by using publisher app settings. Show accurate LOIs for each survey, rapidoreach takes care of this for you.

3. Tell Users what happened:

Once a user completes a survey with RapidoReach they are taken back into the game or app. It is important to appreciate their effort with a congratulatory message of the reward they have just earned. A proper message here will make users feel good about their work and cause them to come back, which is important because repeat users convert at twice the rate. Also if they get disqualified, give them disqualification points, you can set DQ points in your rapidoreach publisher account.

Conclusion

In the online marketing world, big organizations allocate a lot of budget to digital channels for getting users' opinions from time to time. And they aggressively target members of rising young generation millennials more. And as an app or game developer, you need to have a revolutionary technique to monetize your app if you want to stand out of the crowd.

85% of the time people spend browsing the web occurs via all their cell phones, and the vast majority of people’s mobile time is allocated to app usage as compared to cell phone web browsers. 

App monetization is exactly how a user base can be leveraged into a method for publishers and developers to earn money from the app. The strategies for accomplishing this are varied and can include paid apps, in-app purchases, advertising, and other options.

There is a range of choices when it comes to app monetization, including in-app purchases, traditional banner ads, video ads, offer walls, surveys, sponsorships, freemium subscriptions, and a lot more. At Rapidoreach, though, we believe that there’s one technique to monetizing your app that appears above all the others in terms of its potential which is rewarded surveys.

When it comes to survey-based research, there is a limitless appetite for higher quality, large-scale consumer thoughts, and opinions. While researchers traditionally relied upon phone and e-mail to reach people, best researchers modify their budgets to mobile.

Rapidoreach developed the great solution to connect researchers with high-quality respondents via mobile, to give people a much better technique to enjoy their favourite apps, as well as to give publishers a new source of revenue. 

The aim is to collect info from a small sample of an online marketplace in order to predict exactly what the whole market wants. Rewarded surveys are an excellent tool with regard to a variety of businesses, helping comprehend their customer’s habits and likes & dislikes, get product or service feedback, and brand awareness.

All suppliers on the Rapidoreach marketplace are aligned to meet our high-quality standards, this includes all Rapidoreach supply sources both on and off the marketplace. Once suppliers are able to meet the security and high-quality specifications of the marketplace, they can get started directing all their participants to live surveys.

The worth of rewarded online surveys is both tangible and extremely sought because, with rewarded surveys, everybody wins. When users complete a survey, they receive an in-app reward, the researcher receives the latest helpful data info, and the developer gets paid.

We hope this article provides a realistic overview of the market research industry and how it applies to app/game monetization. Reward-based monetization is just one piece of the Free To Play model to consider.

RapidoReach brings the research industry to mobile. We make it easy for traditional Research Buyers to distribute mobile surveys in Free To Play apps/games with a product that understands game mechanics and in-game virtual economies — we call them Rewarded Surveys.

If you would like to learn more about RapidoReach, and about how Rewarded Surveys can generate a new revenue source for your game, please visit www.rapidoreach.com or feel free to contact me directly at info@rapidoreach.com.