Video Games have been an essential pass-time and hobby for many people all over the world. It started as a small industry full of passionate creators to eventually becoming a billion dollar industry. According to Statista.com, game revenues are projected to reach $285 billion by 2027, this presents a massive opportunity for marketing companies.
In this blog we will delve a little deeper into what Video Game advertising is, who it can benefit and what those benefits are.
What Are Video Game Ads?
If you’ve ever enjoyed a video game on your smartphone, PC, or consoles like Xbox or PlayStation, you’ve probably seen a variety of advertisements. These could be a short clip that tends to play between stages, a flag at the bottom of your screen, or a character from the game wearing a brand – name shirt or driving a widely known make and model car. These are all examples of video game advertisements.
Ads are popular among game publishers because they allow them to monetize their content all the while allowing brands to expand their audience, grow their community, and sell more goods or services. This is particularly appealing to mobile game developers who provide a freemium experience, which means that the game itself is free to play but ad spots are sold for a fee.
Who Should Be Interested In Creating An In-Game Ad Campaign?
Any company or advertising agency searching to widen their advertising strategies from outside normal expectations could make a prime fit to invest in a game-based advertisement campaign. Players nowadays have consoles in their hands as gaming platforms have evolved, placing advertisements right in front of them at all times.
An in-game ad campaign can enable your business to become much more recognizable on platforms with limited competition. You could also connect very target demographics by marketing on particular game titles. In-game ads are a massive asset when you’ve got a brand which can benefit from a big audience. If you recognize whoever the typical gamer identity is and whom you’d like to reach with your promotions, you could also customize your message to that particular demographic.
The Ideal Type Of Video Game Ads For Most Brands
Most people associate “gaming consoles” with the Xbox or PlayStation. While advertisers could indeed certainly place advertisements on these gaming systems, the market share of players is approximately 32%, and the core audience is predominantly male.
Mobile games are undoubtedly the lowest-hanging fruit as well as the most lucrative option for advertising companies in 2022. Because gamers of all ages use mobile phones to play, this marketplace has the broadest possible audience.
Mobile apps are also the simplest and quickest to create. You can develop and start using a campaign in minutes once you recognise who your audience is as well as the mobile games they are enjoying. The most prevalent key performance indicators for mobile advertisements are impressions and clicks, as well as video completion rate.
Even after such a grasp and complexity of interaction, marketing companies have been slow to leverage on this attention, with video games ads accounting for a little less than 6% of cumulative digital ad space.
People’s perceptions of gaming are evolving, and advances in technology in the sense of advertisements can be effortlessly incorporated into games. This is helping to relieve a certain amount of publisher and consumer rigidity to incorporating ads in games. Some of these advancement include:
According to a NewsZoo.com research, mobile gaming audiences are expected to exceed 3 billion by the end of 2023, marketers can possibly facilitate a large portion of the population. In-game advertisements are also less expensive than other kinds of advertising.
In-game advertisements, such as banner ads, play throughout the game, whilst video ads and rewarded adverts only play during breaks. Ad technology companies are diligently developing alternatives to facilitate measurement, even in faster-paced games. Marketers will be able to track the amount of views their ads have been receiving. With monitoring in position and comprehensive ad management functionality, identity protection, and marketing safety measurements, in-game advertisements are growing increasingly attractive.
According to a Tapjoy report, 64% of customers are more inclined to interact with a retail in-app reward ad than a social media post. The value addition of in-game incentives in addition to the purchase tends to give gamers the impression that their money is being stretched further. Furthermore, 70% of those polled indicated that they were willing to try a new service or product.
4. Brand Positioning
Marketers can specify which game genre they would like to have their advertisements to be featured in. Furthermore, ad whitelists hold their adverts from showing up in inappropriate places.
Ad companies and businesses taking an interest in launching an in-game marketing strategy should consult with an ad tech partner who can guide them through the process of navigating creative specifications, audiences, positions, expenses, and more.
So, these benefits, if implemented correctly, have the potential to change the advertising landscape. It gives small businesses the chance to market themselves at a low price and be able to maintain it due to the widespread accessibility. Game companies are more inclined to work with companies that align with their own interests.
This will change the landscape of both games and marketing as a whole, and everyday changes are being made that benefit both enterprises.