The video gaming industry is booming fast that it has become a multibillion-dollar business sector. Experts are expecting a raise of $76 billion in its worth in 2022, making the gaming industry a $196 billion powerhouse. This stat is enough to showcase the growth potential of this industry.
However, let’s not forget that industry boost brings a lot of competition. Gaming businesses are growing faster than any other area of the digital entertainment industry. Every day, hundreds of new gaming companies are entering the industry, making the competition brutal. Gaming companies are trying to design new and innovative business growth strategies to dominate the market. Hence, gaming businesses are getting extremely challenging to sustain themselves in such a highly competitive market.
Video games that are securing their footing in the market are the products of companies investing a huge amount of money and a lot of thought processes into making their business growth strategies.
Here is a list of some result-oriented business growth strategies that every gaming business should go for.
Growing a Games Growth
Focus on emerging markets
Global domination seems to be astonishing. So naturally, every gaming company wants to develop games that can achieve success and fame worldwide, forgetting how profitable the local market could be.
Most games developed with the intention of global fame come in the English language. These games achieve success in places like UK or USA. However, there are many nations where these games fail to capture the public eye. Japan and China would be nice examples of such countries.
Everyone is aware of how massive Japan’s gaming industry is. According to statista.com, the value of the Japanese gaming market is expected to reach a value of nearly 1.8 trillion yen by 2026.
If gaming companies focus just on the Japanese market, they can generate massive revenue. Emerging markets are valuable in every aspect. Many Japanese video games are now popular worldwide. Localize approach brings down the heat of global competition and limits the audience.
Experimentation is vital
In the world of gaming and marketing, everything is about experimenting.
Apple’s 1984 Super Bowl commercial would be a perfect example. Apple launched this commercial when people were not expecting such a creative marketing technique. This commercial gained a lot of popularity and became a marketing masterpiece.
Experimenting is very important. Gaming businesses should target new social platforms to gain more user attention through unique and persuasive marketing technology trends.
In this crowded world of video games, the only way to impress gaming lovers is by experimenting with business growth strategies.
However, there is one thing to keep in mind, and that is; experiments do fail! There is no ‘foolproof’ strategy that assures success. Therefore, it is crucial to monitor the business growth strategy. Gaming companies should analyze their marketing strategies and identify the areas that need optimization.
Identifying User Behavior
Monitoring user engagement is one of the key elements of business growth strategies. For example, the gaming industry is expanding worldwide, and that’s why its user base is huge.
It is important to monitor user engagement to identify the loopholes and the strength of the video game. Here are some questions every gaming company should ask itself:
- How often does a user play the game?
- How long does every session last (on average)?
- Which feature is used the most?
- Which feature of the video game repels the most users?
All these questions will help gaming companies learn more about their user base. The data will be very useful to optimize the user experience.
YouTubes can be the best bet.
When designing business growth strategies for gaming companies, YouTube Influencers could be the biggest asset.
Every gaming enthusiast would know that watching YouTube influencers playing video games is integral to their everyday routine. Gaming lovers have multiple purposes to watch YouTubers playing video games. Some want to learn about new gaming techniques, while some people just enjoy an online gaming battle.
Whatever the reason might be, gaming enthusiasts crowd YouTube, and that’s why this platform could be a game-changer for gaming companies.
While some well-established and popular games like Fortnite and Clash Royale do not need to knock on the doors of YouTubers, emerging video games might approach Gaming YouTubers for their promotion. Paying YouTube influencers for playing a video game in front of thousands or millions of viewers could turn the tables for a gaming company.
YouTube is not the only platform you can rely on. Using platforms like Twitch is also a very advantageous first-level marketing. Twitch allows you to market with streamers and get real-time reactions to your game. Twitch also gives you more options of how you want to pay your influencer to market the game. You can pay by giving the game for free, paying per hour, or paying by another metric you desire.
App Store Optimization
The video games that are not just limited to the desktop and can also be played on small screens should never miss a chance of promotion on the Play Store. Millions, probably billions of people, go to the App store every day to download a new game. Hence, adding App Store Optimization (ASO) to your business growth strategies is a good idea.
ASO helps boost the ranking of the video game when the user searches a keyword in App Store. This increases the visibility of the video game, which could give an edge to gaming companies.
ASO uses various tactics to position the video game, and here are some of those:
- Write a persuasive description for the video game
- Maximize keyword use
- Use a video trailer
- Adapt for both Android and iOS
- Get frequent user feedback
There are many techniques for boosting the rank of a video game on the App Store. However, ASO is one of the best ways to grab public attention, and that’s why any gaming company should not miss out on it.
Consider Gaming Podcasts
Like YouTube, Gaming podcasts give a platform to video game enthusiasts where they can get the latest updates and news about the gaming world. Gaming podcasts are extremely popular these days, and that’s why it is important to make a special place for them in gaming business growth strategies.
It would be right to say that the new generation is a sucker for podcasts. This digital media platform can help gaming companies establish a recognizable image in the market.
Reddit would be perfect.
Many people think that Reddit is out of trend these days, but in reality, it caters to many video game lovers.
Reddit is an amazing platform where people share their video game experiences with other video game enthusiasts. This platform can boost the popularity of a video game online through content creation postings and fostering a connection to your players. Looking to establish a strong mod team and well-designed subreddit can help add a larger online footprint.
The gaming industry is massive. With hundreds of new video games being launched every day, this industry is getting very competitive, which is why gaming companies are more specific about their business growth strategies. Every gaming company wants to become the star of the industry, and that’s why they are coming up with innovative and unique ideas. In 2022, promoting a video game with traditional ways of marketing would not bring desired results. Instead, gaming companies need to go for more sophisticated and modern marketing technology trends. Technological advancement could bring a lot of change to the revenue of a gaming company. The future of gaming industry is extremely bright. With market getting more and more competitive every day, gaming companies are trying to introduce something new to the market. We hope this post helped you learn more about marketing for gaming companies.