Add in-app coins that people earn from ads or buy in packs

Josh Peleg… Soundmap, for example. Soundmap, I spoke to the founder a while back now, a great guy called Zibo. Soundmap is Pokémon GO for music. So you'll walk around your city using your phone, and you'll find tracks in your city and you'll collect that music track, whether it's a Drake song, and then you'll be able to trade that with someone else. Maybe they've got a Metallica song and you can trade that. So there's peer-to-peer sharing there as well.

Josh PelegNow, they have a subscription, which is capturing majority of the value of the users. But they also have consumables and power-ups that, for example, let you discover two times more songs in your area. So they're able to capture all the value of the user that they're willing to spend. And I think the issue here for a lot of consumer apps is that they don't all lend themselves to this kind of monetization. But the real unlock we've seen from Blue Throne's level, talking to hundreds of app founders a month, is the ones that can crack this generally can create deeper LTVs, which gives you way more breathing room on your CPIs and your marketing budget.

David BarnardYeah. I think this is such an underexplored space so far in the non-gaming app world. And consumable IAP in some ways is probably the holy grail. And this is what we see with Tinder. And Tinder is a perfect example. One of the things we talked about over lunch was this famous graph from Ravi Mehta, famous to me. I just think...

Josh Peleg… always try and do that, because otherwise, there's just so much data coming at them. The one action item is what's the easiest, lowest-hanging fruit in order to use either rewarded ads or one-time purchases in your app. The answer is just to build an economy, to introduce a soft currency, which is gaming slang for a way of building an economy that's not based around dollars. So it could be gems or flowers or whatever, whatever else it might be.

Josh PelegOnce you have the economy, you can then say, "Hey, here's a rewarded ad, which if you watch, you'll earn 10 coins," or, "Here's an option to buy 5 coins, 10 coins, 15 coins at different price points." And if you're not sure how to do this because it's unfamiliar to you, my best piece of advice would be, A, go and deconstruct the best mobile games, RAID: Shadow Legends, the game I used to work with, or Candy Crush, or Match Royale, or any of the Supercell games. Figure out how they're doing it. And if you're still in the dark, there are plenty of great consultants who can help you build a gaming economy into your app.

David BarnardOr look at Tinder. And we had a podcast with a former Tinder employer where he went in depth about how they thought about layering on those consumables. So, that's another good example. And there's a growing number of apps that would be great examples to look at in this space.