Unlock the Value of Data in the Gaming Industry
Over 214 million Americans play video games. The average age of a gamer is between 35 and 44 years. In 2020 the revenue from mobile games was over $77 billion. Over all the gaming industry earned $159 billion in 2020.
Seventy-five percent of Americans have at least one gamer in their household.2 While consumers are spending more money on mobile, PC, and console games during the COVID-19 pandemic, advertising is also a significant source of income. In addition, technologies such as augmented reality and portability are enabling companies to create a unique, personalized gaming experience. Meanwhile, the competition is tougher than ever. The market is expected to surpass $200 billion by 2023.3 And parallel to this growth, gamers demand to know how companies are using and sharing their data, propelling data privacy and security to the forefront of the industry’s priorities. To capitalize on the market opportunities and meet the challenges, gaming companies need to securely and effectively leverage data. Read on to discover how to unlock the value of data to attract consumers and enable better gaming experiences while maintaining your customers’ privacy.
Improve The Effectiveness Of Ads And Marketing
Advertising is becoming more profitable for gaming companies. But player monetization is tricky and sensitive. Companies need data to understand the best types of ads or in-app purchases to offer players, and when to offer them during a game. Erroneous decisions can lead to the loss of players. Similarly, to carry out a successful marketing strategy, companies need data to know different markets (based on region, income level, and other demographics) and the types of consumers they are trying to attract.
Optimize And Personalize Games
Today’s game developers must create games that are personalized to each player’s behavior, skills, and preferences. These customizations include the design of the characters and play areas, complexity of levels, and distribution of rewards. They must also produce a constant and fast rollout of new content and features to keep long-term players interested and eliminate bugs and failures that lead to lost players.
Ensure Data Privacy And Security
Gaming companies must share data to stay viable. This includes sharing data with outside channels to measure the effectiveness of marketing campaigns and collaborating on data with social media companies to facilitate game playing with other users. It also includes data sharing with third-party publishers to improve the game, diagnose problems, and provide support.