The online entertainment industry is as big as it is diverse. This niche is expected to grow 20% yearly until 2027; in 2019, it was valued at USD 183.1 billion worldwide. From iGaming to video streaming, online entertainment covers everything you do for fun on your computer or mobile device. Despite this industry’s diversity, its several branches have one need in common: to survive in a gruesomely competitive market.
Many Trades, One Tool
Standing out from a pack of thousands of competitors isn’t easy. It’s not enough to have the best product. It also takes the best marketing strategies to enter the customers’ minds and live there. It means being constantly engaging and innovative and providing valuable content regularly.
Let’s consider online casinos for a moment. Online casinos are arguably one of the main branches of the online entertainment industry. Top brands in this niche are always adding something new to their websites. Most new features of online casinos aim to attract new customers and keep existing ones engaged. One of the ways to gain additional brand recognition is to offer new features to create additional value for the product.
The online entertainment industry can be divided into six main branches, as listed below.
- Social Media: Instagram; Facebook; Twitter; TikTok
- iGaming: online games; eSports, gaming platforms
- Online Gambling: Online casinos and sportsbooks; poker rooms
- Streaming: YouTube; Vimeo; Netflix, Spotify
- Blogs: Blog reading about varied themes
Building Name and Fame
It’s impossible to talk about branding these days without mentioning the importance of social media. Over 58% of the world’s population is active on at least one platform. The best marketing strategies always include building a solid online presence. Influencers have a vital role in this strategy as affiliate marketers, promoting brands to scores of attentive ears.
However, branding goes way beyond sticking your logo on every social media. Successful branding taps into cultural change. Indeed, many see branding as a tool for gaining cultural relevance. This kind of strategy doesn’t aim only to attract new customers. It aims to turn a brand into a hub for consumers of that kind of product.
This kind of strategy can lead to a dramatic increase in sales and engagement if successfully applied. It’s a snowball effect that increased online presence leads to more brand awareness, which leads to more followers, giving more credibility and visibility to the brand. Brands with more credibility and visibility attract more customers.
Straight No Chaser
Branding on social media has a critical advantage lacking in more traditional methods: direct communication with consumers. By monitoring social media interactions, it’s possible to understand what customers think about a brand and what they expect from it. Such information is crucial for elaborating on new products and future marketing campaigns.
Familiar to Millions
TV ads and promotions aren’t enough anymore. In fact, traditional methods are clearly in decline. Social media has created a new era for marketing, with new tools and goals. It can no longer be ignored by any industry. In a brutally competitive market such as online entertainment, social media and branding go hand in hand.
Still, every branch of this industry needs constant renovation, adaptation to new technologies, and new ways to interact online. So, staying on top of new technologies is also essential.