The internet and increasingly the mobile internet are continuing to drive massive changes in our lives. As consumers we are spending more and more time happily tapping away at our smartphones and tablets engrossed in a myriad of exciting content.
At the same time as marketers we are constantly looking for new ways to use digital to add greater value to our own consumers, finding ways to differentiate our offering from competitors and of course hoping to find the holy grail of also increasing revenue/arpu for the business.
One really interesting area that is changing fast and opening up new commercial opportunities is online gaming and potential linkage with betting.
In UK at least, and despite the ongoing economic hardships with 17m people now considered to have wealth below the acceptable living standard we continue to see a significant rise in the propensity for people to gamble. In May Paddy Power reported a 28% increase in revenues driven largely by an increase in online betting and a UK survey by UK Gambling Commission saw a 15% increase in Gambling from 2007 to 2010.
Gambling/betting is increasingly socially acceptable to the point where I was almost surprised last week when we couldn’t place bets for the rowing races at Henley.
Where does this trend and opportunity leave us?
Many brands are looking to create exciting content including online games to drive greater engagement with their customers. At the same time online games are increasingly being integrated with ‘virtual goods’ to buy (it is estimated that over $4bn will be spent on virtual goods on Facebook by 2013) offering exciting new and highly profitable revenue models for those brands who can get this model to work.
Now this shift in brand and consumer behaviour may take a step further with a new betting service to be integrated into online games and mobile apps.
So the question is – can your brand tap into this increasing trend of providing online content to not just engage consumers but to give them exciting ways to spend their money online through either virtual goods or even providing a competitive gaming experience that supports elements of gambling/betting. Can this be a new and fun way to increase your interaction with your customers as well as increasing your profits?
This is of course is a difficult area for many brands to consider and won’t be right for many. But don’t be scared to at least look at how you could get this ‘new world’ opportunity to work for you.
At a time when consumers’ use of digital games are changing rapidly, their attitudes to gambling/betting are becoming more acceptable and you’re under increasing pressure to innovate and bring new profits into your business there really could be opportunities for you to take a considered risk too.
Just think this is another exciting new opportunity in the marketing proposition toolkit for us to consider as part of our innovation growth agenda.