Data Driven Strategies in Gaming Industry
The gaming industry has now surpassed the movie Industries and music Industries combined in terms of the entertainment value offered. Places like the United Kingdom have seen the gaming industry double in value at the start of covid, indicative of a long-term shift in people’s sources of entertainment with more time at home.
Free content and monetization within games have made it much more appealing for customers to play and stay engaged long-term. Interactive flexibility not only benefits customers but companies who are able to monetize these forms of entertainment. As more people focus on digital games rather than physical games, the industry is on the rise. Augmented games that mix virtual reality technology are quickly becoming some of the most appealing games on the market and the expanded use of things like a Ai, mobile narratives within games, and in-game rewards are adding to the longevity of modern game design.
Using Customer Data
Customer data can be used to create sustainable business growth. Proper game analytics strategies make informed decisions using data from customers. The gaming industry is evolving rapidly so gaming companies are required to perform and perform successfully. Overcoming barriers in the industry and bringing in new customers is a level of success that comes from working more effectively, not necessarily working harder. And that means generating insights from data that drives decision-making necessary to improve game design or business monetization.
Using Gaming Analytics as Leverage
Predictive analysis or gaming analytics can be used as leverage for determining when customers will do things like make purchases inside a nap, or return to a game over and over.
- gaming companies can establish outcomes and determine goals using metrics that can support the achievement of these goals
- companies in the gaming industry can manage data with long-term infrastructure so that they can possibly absorb information that can be used down the line for a multitude of purposes
- gaming industry players can develop quantitative modeling to predict customer behavior when and where it counts
- companies can focus on training to ensure that each model and each set of goals performs effectively which requires continuous improvements and adjustments based on the performance and achievement or lack thereof of those goals
What Companies Can Improve
There are many data-driven strategies in the gaming industry indicative of what individual companies and players within the gaming industry can improve. Firstly, Predictive Analytics and other strategic models can help companies determine what the optimization points are for different game development, and where the marketing team should focus their efforts. Companies can use data strategies to make predictions on monetization, figuring out what behaviors customers exhibit before they make a purchase. This might include something like offering a free trial or free bonuses prior to a paid subscription.
Data-driven strategies can help developers determine the best ways to improve engagement within the game design so that players come back time and time again. Similarly, determining which graphics or visual effects resonate most strongly with different players can help drive the gaming experience towards something more customers enjoy. A big part of these data-driven strategies is personalized marketing, determining which marketing messages resonate most effectively with different customers. In the gaming industry, this type of big data and data-driven strategy will provide the next level of success.
Strategic Marketing In Gaming
Once strategies are used to determine where companies can improve, based on the most current data they have, it falls to other departments like the marketing department to capitalize on the monetization possibilities of strategic Marketing in gaming. As mentioned, these strategies are used to improve monetization and in-game advertising is one data-driven strategy for improving monetization just the same as finding out which behaviors customers exhibit prior to a purchase. Knowing that customers prefer something like free bonuses before they sign on for larger subscriptions or play games for longer, can help individual companies within the gaming industry market those bonuses most heavily.
Tangentially, free bonuses or free subscriptions as a temporary measure for bringing in new customers can also provide insight into which visual effects or graphics resume the best, so that changes and improvements can be made such that games are as visually appealing as possible. All of the areas in which companies can improve using gaming analytics and Predictive Analytics work hand-in-hand with internal marketing strategies. Each of these strategies play a significant role in collectively improving gameplay and customer retention.