CMPs in gaming is at least ten times cheaper than traditional buy-ins, thereby reducing marketing costs.
The increased sophistication of next-gen gaming devices with features like extensive app stores has significantly improved their usage and presence. Further, sales for Microsoft's and Sony's gaming consoles is predicted to increase by 30 million and 50 million respectively, by 2023 worldwide.
The gaming industry's growth provides marketers with new advertising opportunities, and they must ensure their content is appropriate for the screen. With in-game experiences being more real-life-like, brands must create compelling in-game product placements and logos to build product awareness effectively.
Companies can also leverage the second screen, as gaming consoles can integrate with previous consoles. Building "artistically alluring" brand experiences in-game and partnering with gaming influencers can help marketers reach broader audiences and boost conversions.
[3 minute read]