PLAYING GAMES WITH MARKETING

Hello, OptiMIST People!

Back at it again with KaMIST! Your weekly dose of insights into the latest marketing trends. In this week’s KaMIST we’ll press play on the gaming world as we are set to welcome The Dota International to Southeast Asia! We’ll discuss how marketers can capitlize on this momentous event and profit off the huge gaming scene we have here.

Gamers all across Southeast Asia can begin to get excited because The International, Dota 2’s annual tournament, will be held in Singapore in October. This is the first time the global esports championship has visited a Southeast Asian country. The event is well-known for its high prizes, with the final winning team receiving a share of the $40 million prize pool. However, the party isn’t just for gamers; marketers across the globe should be roaring to get a piece of the pie.

Gaming in APAC has grown dramatically in the previous 18 months, and all eyes are on what the region’s future holds. China, Japan, and South Korea already account for three of the top four global gaming markets in terms of consumer spending, accounting for 49 percent of global consumer expenditure on games. By 2021, the area is predicted to have 1.62 billion gamers, or 55% of all players globally, up from 1.2 billion in 2019.

Big numbers are exciting, but how can marketers capitalize on them? Marketers in APAC must keep three things in mind in order to achieve growth. To begin with, the major APAC game marketplaces have established the worldwide standard for social elements in games, such as in-game chat, buddy or mentorship networks, leaderboards, and player-versus-player (PvP) game types. Marketers may affect the creative and social experience in virtual gaming environments as the metaverse evolves. Marketers should also keep in mind that console gaming has never gained the kind of popularity seen in non-Asian nations. The COVID-19 shutdowns resulted in a dramatic behavioral shift, with mainland China and South Korea seeing the highest increases in console gaming.

Marketers should reconsider gaming experiences in order to get mobile users to explore new titles or return to old favorites. Marketers may also focus their attention on mobile platforms since APAC will remain a mobile-first gaming region, with mobile being the primary gaming device. Thirty percent of new players believe that mobile gaming involvement will rise after 2021. Players are expected to spend $57.9 billion on mobile games in 2021. Marketers may succeed on mobile by emphasizing retention, keeping gamers engaged, and diversifying monetization strategies.

This can be remedied by taking note of the rise of video marketing. The advent of video marketing coincides with the expansion of the gaming sector. Video content is more engaging and has a greater effect on customers. According to Smart Insights research, video content will account for 82 percent of global data traffic by 2022. Gamers cheerfully waste hours watching gaming videos, with the majority of gamers on YouTube, Twitch, and other platforms spending more time watching others play. They don’t want to see just anyone; they want to see gaming influencers in action. Gamers may acquire strategies, discover new games, and fall more in love with their favorite hobby by following top influencers.

Markets may go even farther by cooperating with app developers to create better mobile games that grab all users’ hearts and brains. One gaming business possibility is hybrid-genre gaming. Both casual and hard-core gamers like hybrid games, which integrate gameplay design ideas and genre experiences. Last year, the category grew by more than double in Asian markets. Consumer expenditure is up 42% year over year for 4X March Battle and Match-3 Meta (M3 Meta), which are gaining traction, with consumer expenditure up 42% year over year.

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The idea of delivering the most value for the consumer has evolved over the years. As we know, the best marketing strategy is cetera desunt for adaptive future-leader mindset that uncertainly evolved over decades. Companies began to use various promises in effort to persuade and attract customers. The fiercely increasing conditions of competition added the popularity of the concept of “brand” and “advertisement” by adopting the concept of neo-marketing and elaborate them with psychological terms. Albeit, all emotion influences consumers personal relationships, business choices, and buying decisions. The emotion itself has situational and reactive qualities, as well as satisfaction and expectations formed over lifetimes of experiences and interactions.

When a boy goes to an ice cream parlor or restaurant, he will feel befuddled. Choosing what he is going to get, that’s the thing that he despises. Would chocolate chip or strawberry ice cream please him better? Cheeseburger or fried chicken? He feared that what he selected will not give him as much pleasure as the other option would give. What he doesn’t choose could provide a higher sense of pleasure than the one he chose. One interesting finding utilized by neuromarketing is that people really don’t want to lose out. People are just as worried about what they might lose as to what they might gain.
In the meantime, one of the biggest challenges that marketers deal with is customers’ expectations in the pre-purchase phenomenon where the consumers haven’t fixed their buying decision yet. To tackle the challenge, many companies are competing to build relationships with their customers, with the expectations that they will be able to provide the best customer experience for specific individuals. Therefore, the company must be customer-centric to carry out a successful marketing strategy in order to be noticed by consumers and to forge a brand identity.

According to McKinsey (2019), by making a fundamental change of mindset of focusing on the customers, companies gained significant enhancement on several aspects. Along with operational and IT improvements, companies generate 20 to 30 percent uplift in customer satisfaction, a 10 to 20 percent improvement in employee satisfaction, and economic gains ranging from 20 to 50 percent of the cost base addressed in the various journeys.

To overcome these challenges, companies have to understand consumers’ behavior and expectations. Hence, companies should put a bigger concern towards consumers’ buying-cycle from awareness to its advocacy. By implementing the concept of Neuromarketing, stereotypes of the communication matters of the marketing basis will be integrated with taste of individual market itself. The more personalized the promotion, the higher the probability that the advertisement will work. It could be done by using big data to allow the company for this huge aggregation of all consumers personal information that they’ve ever revealed to build a precise representation of who they are, now, more than ever before. Data and insight are not delivered to consumers as a whole but individually by delivering the most value to the customers with a very specific scope based on how they think.

In order to win in today’s marketplace, companies must be customer-centered, to the point that ideally, each individual customer’s values are taken into an account to derive the value that they are truly seeking. In essence, by generating consumer reactions, and treating them not as reactionary receptacles of marketing strategies, but as each their own person with differing individual values. Therefore, reinforcing belief is a very important matter for marketers that influences consumers experience. They must deliver superior value to their target customers traditionally and digitally with knowledge of neuroscience marketing strategies combined. Neuromarketing will surely strengthen customer’s contentment of a product itself.