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Media Entertainment Tech Outlook | Tuesday, February 28, 2023
It is estimated that the eSports industry is worth more than $1 billion. Underage participants are spending a great deal of that money, so it makes sense why brands are concerned about it.
Fremont, CA: There is no doubt that eSports will continue to grow despite its humble beginnings. Investing in it is an exciting opportunity for brands and their marketing departments around the world because of its continual growth and expansion. In addition to this growth and expansion, some marketers and brands will be unable to overcome certain issues without some work.
We'll walk you through the four key challenges Facing eSports marketers today and offer a great solution for solving them.
Problem 1: “Nerd Phenomenon”
There is still a limited fan base for eSports, which is considered a niche industry. As a result, it can be difficult for marketers to break in and establish themselves, regardless of their prior experience. For marketers new to the game, this market has very focused interests and preferences.
In recent weeks, Buffalo Wild Wings partnered with TBS's video game tournament ELEAGUE. All 1,175 locations offered fans the chance to take part in the tournament. In spite of complaints from fans, the chain's employees were unfamiliar with ELEAGUE and did not show the tournament on any of its televisions (out of many!) when ELEAGUE fans showed up.
Several fans complained that the employees referred to their fandom as a bunch of "nerds." This clearly demonstrates how a brand entered the eSports market with little to no knowledge of the industry and failed to increase its own profits and brand loyalty.
Problem 2: Underage Spending
It is estimated that the eSports industry is worth more than $1 billion. Underage participants are spending a great deal of that money, so it makes sense why brands are concerned about it. Players are abusing their parents' credit cards to buy merchandise, gamble, play games, and more for tournaments, which is an issue that is growing.
Problem 3: Lack of Standardization
There will be growing pains involved in eSports because it's a relatively new industry. Many player and participant complaints are about tournaments lacking authenticity, which makes it hard to determine which ones are legit and which are fake.
Problem 4: Less Immediate Success
In contrast to other segments of the market, eSports is a global phenomenon. As a result, success as a marketer may not be obvious immediately. It's unclear how much sway brands have over marketing efforts in this still-niche industry, which is full of passionate people who love challenges and gaming.
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