The gaming industry is one of the most powerful markets, generating billions of dollars. The industry's dynamic growth has led to an increasing number of companies seeking opportunities in the gaming sector. If you're wondering how a game marketing agency fits into this landscape, continue reading this article.
As of early 2023, a Statista report indicated that 33 percent of game developers were working on games for PlayStation 5. Additionally, 27 percent were focused on developing Android mobile games. Over the past year, approximately 6,000 new games were released on Steam, averaging more than 34 games per day, according to a report by OSGamers.
The video game market is experiencing remarkable growth, with revenue projected to reach $385 billion in 2023, and an expected year-on-year growth of 7.9% until 2027. To ensure your game generates revenue, it needs to connect with the gaming community first. This necessitates executing both online and offline promotional strategies.
Nevertheless, digital marketing in the gaming industry differs significantly from other fields. The challenges it presents to brands can be overwhelming at times. This is when brands often turn to video game marketing companies specializing in this unique field. A game marketing company can assist in:
If you're wondering why you should hire a game marketing agency when you can handle all the tasks yourself, consider this: marketing a game is a lot of work. It involves tasks such as sending out press releases, running paid campaigns, and leveraging the power of influencers. This process requires a certain level of expertise and time, which might divert your focus from the most important aspect—developing a great game.
Furthermore, a game marketing agency is already equipped with the knowledge of what needs to be done and how to do it—like reaching out to relevant influencers. Video game marketing companies are usually quick to spot opportunities for promotion and collaborations.
Additionally, entrusting a game marketing agency with your marketing efforts is more sensible, as juggling multiple marketing tasks can be challenging. With the right team and direction, you'll be able to target the right audience, run effective marketing campaigns, and carry out specific actions aimed at influencers. Remember, game marketing isn't limited to only the launch phase but can continue post-launch as well.
In summary, hiring a game marketing agency allows you to stay focused on your game, while benefiting from years of marketing experience and valuable data.
Dealing with a cross-industry marketing agency can pose challenges for developers. This often arises from a lack of well-defined boundaries and expectations from the outset. Insufficient clarity regarding scopes and unfamiliarity regarding the gaming industry can lead to repetitive explanations. When set targets aren't met, developers face the choice of either hiring internally for game marketing or switching to a different agency. Opting for a specialized gaming-focused digital marketing agency is recommended for better outcomes, given their niche expertise and industry knowledge.
The cost of marketing a video game depends on several factors, notably the game's scope and the development company's reputation. For well-established studios with a strong online presence, marketing campaigns must align with their high-quality content. AAA game marketing budgets are often undisclosed, but estimates for games like Grand Theft Auto V range from $70 million to $110 million.
There’s a connection between substantial marketing investments and impressive returns. For instance, Grand Theft Auto V achieved $1 billion in sales within three days of release. In contrast, indie game developers with tighter budgets allocate 25% to 50% of their development costs for marketing efforts, aiming for a targeted approach to maximize their resources.
In short, marketing budgets for video games differ based on company size. While AAA games can invest tens to hundreds of millions in marketing, indie developers work with more modest budgets, allocating a fraction of expenses for strategic promotion.
The key takeaway is that regardless of budget size, effective marketing tailored to the target audience plays a pivotal role in the success of both AAA and indie games.
There are a number of payment plan options that a game marketing company can offer:
Branding and positioning a marketable game involve various challenges. Ensuring a smooth process necessitates retaining diverse creative talent, which can be challenging for many businesses. Even if marketing tasks are delegated to an internal team, exceptional results aren't guaranteed. Instead of short-term savings, invest in marketing for desired outcomes.
At Game Marketing Genie, we are committed to creating successful marketing partnerships. With our team of experts, you can achieve the level of game success you aspire to have. By partnering with us, you gain access to diverse services and talents under one roof. We go the extra mile by providing structured weekly campaign reports.
So, look no further, elevate your game with Game Marketing Genie; book a call today!