In game development, two elements can make or break your project: knowing your audience and how you monetize your game.
Some of us create games as a hobby while others are hoping to make a living from game development. For those that are looking to possibly bring in a bit of $$$ for all your hard work, here’s a few tips!
🪐Market Research – Before diving into your projects development, take time to understand your target market. Who are your potential players? What do they love in games? What are the latest trends in the industry? This knowledge isn’t just valuable; it could make or break your current project and the possibility of any future projects.
I’ve personally seen a studio with tens of millions of players lose everything after their follow-up next project completely missed the mark with their target audience. If you are making a game, especially one in a niche’ market, it’s VITAL to know your players wants and needs! (please see previous post on building a community)
🪐Monetization Model – How you make money from your game is a critical decision. There’s no single, easy answer. Here are some suggestions based on previous successful models:
– Free-to-Play with In-App Purchases – Offer the game for free and entice players with in-game purchases for enhancements or cosmetics. This model maximizes accessibility, but beware, the “Free” engine your project is built on could change their pricing model and completely destroy your FTP monetization strategy, as quite a few indie studios discovered a few weeks ago.
– Premium Pricing – Set a fixed price for your game. Players pay upfront for the complete experience. This model requires a strong initial value proposition. You will want to make sure you have a strong community built and a high wishlist number for initial sales. With awesome design (and some luck) your project should gain more downloads over time.
– Ads – Allow advertisers to display ads in your game, as banners or video ads. This model is common in mobile and free-to-play games. As long as you are not constantly pulling your players out of their gaming experience or making them wait too long for a video to play, this can be a very profitable way to release your game. It’s a tightrope though, so make sure you’re well balanced!
Make informed decisions that align with your game’s value. If your game offers hours of immersive game play, premium pricing might be a fit. If it’s more casual, free-to-play with in-app purchases could be the way to go. Some games can be re-designed in a way to accommodate another type of monetization if, at first, your initial designs do not work out.
Remember, monetization isn’t just about making money; it’s about providing value to your community and players.
Space Gnome Studio is ready to help you with your projects needs, whether it’s Art, Audio or Design! email us at info@spacegnomestudio.com for more!
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Photo -Scrooge McDuck – Disney
Early Game Dev Strategies: Part 10 – Mastering Market Research and Monetization
