3 Untapped Treasures in the Gaming Industry [and How to Harness Them]
World of Warcraft opened our eyes to the research potential of online gaming. In an industry that boasts billions of consumers, what other treasures can we unlock?
2.3 billion. That’s the number of active gamers (worldwide) in the year 2018. With the advent and modernization of mobile gaming, industry revenues aggressively climb year over year. This year’s grand sum is on track to hit almost $138 billion. According to Newzoo.com, gaming (playing, viewing, and discussing) is now the world’s favorite pastime by number of hours spent throughout the year. So what are most businesses doing with this information?
Sitting on their hands.
With 2.3 billion consumers in the industry, think of all the branding, research, and social engineering potential that the industry has to offer. That’s billions of opportunities to make a difference for your business or organization, and it would be foolish to not look for your own unique connection with the market. If you’re eager to find these untapped treasures, here are 3 ways you can do so…
Opportunity #1: Brand Sponsorship
It’s completely understandable if you feel overwhelmed by the sheer number of gaming industry venues. There’s always the temptation to throw your money at random and hope one of your investments stick. Instead, consider taking a more calculated approach in one of the fastest growing sports in the world, eSports.
Esports [sic] is either the best kept secret or the most poorly marketed piece of common knowledge for brands. — Stephen Boidock, Adweek
With a rapidly expanding viewer base that clocked in at over 370 million at year’s end 2017, this growing platform isn’t slowing down any time soon. Pro-gamers have been securing multi-million dollar salaries for years now, drawing additional attention into the eSports arena. Even mainstream sports brands like the Philadelphia 76ers and Manchester City have purchased local teams, in North Am., Europe, and Asia.
The branding potential is still grossly under-recognized by brands outside the industry, not just for large-scale tournament events, but for local teams as well. England’s London Spitfire obtained high celebrity status after the team pulled through to win a worldwide Overwatch championship. The eSports industry is still far from maturity, so make sure to take your shot at event or team sponsorship before it’s too late!
Opportunity #2: Consumer Research
How do epidemiologists study the effects of an outbreak?
Apparently, by researching World of Warcraft, a fantasy MMORPG (massively multiplayer online role-playing game) and long-term success story of gaming developer Blizzard. In a twist of fate, the developer accidentally introduced a “blood plague” into the virtual world, infecting thousands of players. The resulting chaos became the study of several epidemiologists, who recognized the opportunity to research human behavior and disease modeling. While gaming for science might not have been the intent of these fantasy role-players, that research provided valuable insight and new concepts for future study.
With billions of people locked into the gaming phenomenon, what other opportunities await the shrewd consumer researcher?
For one, there are countless, lucrative behavioral studies waiting to be explored. In a study involving over a thousands World of Warcraft players, Nick Yee and fellow researcher discovered a correlating pattern between online avatar behavior and real world personality. By the end of the study, his team could successfully predict offline gender with an over 90% success rate. The team also noticed a definite relation between a player’s given role and elements of their personality (confidence, timidity, and more) in real life.
Another team of researches dove straight into game development as a way of collecting data on human spatial navigation. In Sea Hero Quest, players carefully maneuver through obstacle-riddled seas. The data collected is then utilized by a multiple research teams across Europe to better study the effects of dementia.
Of course, there is also a myriad of commercial research opportunities to explore for your business. One under-studied topic is virtual purchase habits, research that could easily translate into real world buyer’s data. In-game advertising has been around for decades, and limited-time bonuses provide major brands like Monster and Doritos with lucrative sales spikes. You don’t have to start with large AAA titles either. Mobile games offer plenty of chances for smaller companies to get in on the action.
Epidemiologists, psychologists, and social science gurus have all tapped into world of gaming to better understand human behavior. What’s stopping your brand from doing the same?
Opportunity #3: Product Promotions
This one’s a no-brainer. As mentioned earlier, food brands like Doritos and Monster already take full advantage of the gaming industry to enhance their annual revenues. This is achieved by working with game developers in advance to deliver exclusive content and bonuses. However, these brands typically stick with AAA titles (big budget games) and shy away from niche venues.
Some free-to-play games even feature real-life rewards. Believe it or not, this isn’t a brand new practice. This model has been around for over 5 years now, rewarding players with small monetary incentives and even opportunities for large cash prizes. What you don’t see very often is brands taking advantage of this gaming model to offer free promotional products for dedicated players. It’s still (relatively) uncharted territory, and many brands shy away from this industry that seems to alien to traditional marketing.
You don’t have to be a gaming developer or food brand to take advantage. Simply find a game with your target market. Gaming developers are more than happy to provide demographic data on their player base, which you can use to craft a compelling promotional campaign. If you have doubts about the profitability, start small and see what happens!
Parting Thoughts
Avid gamers are willing to spend hundreds of dollars on recycled virtual goods. Don’t you think your company could find a way to benefit from the industry? While the gaming world may be a conundrum to outside businesses, that only means the window of opportunity is temporarily open to smart investors.
Gamers aren’t limited to nerdy teens anymore. Demographic studies show that people of all ages, marital statuses, occupations, etc. have joined the worldwide gaming community. Remember, that’s 2.3 billion opportunities ripe for the proverbial picking. With just a little effort, and you’ll find your chance to connect with your target market.
