The gaming industry has grown exponentially in recent years. With that new growth, more sectors are coming to the forefront. Trends like VR, cloud gaming and e-sports are all entering mainstream use. Additionally, gamers are investing in elaborate setups to accommodate their gaming experience.
With so much growth in the industry, it’s a reasonable time for startups to pounce on their target. However, along the way, they are susceptible to making a few errors that could hurt them in the future.
Continue reading to learn more about the most common mistakes made by gaming startups and how to avoid them.
Not Having a Goal
Often, gaming founders jumble up their project and their brand. While developing a great game is essential to your company’s growth, it is a lost cause if you neglect your brand.
Sit with your team and define your goals. Envision what you will do after your current project is finished. Describe your values. Compose all of these elements and create a mission based on your discussion.
A clear mission beyond your current project will give your startup a clear direction. Keeping your priorities in line will veer you away from poor decisions, help you create new projects for the future and, most importantly, make sure you look put together in front of investors.
Fundraising Too Early
Fundraising too early is probably the most common error most gaming startups make. Although that might not sound right, many founders have claimed that they regretted receiving funding for a couple of reasons.
Coming into so much money with so little experience, many founders didn’t spend their money wisely. They either splurged on advanced technology they didn’t need, hired too many people without a plan, used all the money on one project, or spent too much on themselves.
On the other hand, founders also realized they didn’t like the strings that came with their funds. What was once a project they were in charge of was usurped by investors. Worst of all, the investors began controlling the project without understanding gaming trends.
Instead of immediately turning to fundraising, consult your team about other methods you can use to secure income. Allowing your company to grow before meeting with investors will help your brand develop and gain authority. Staying independent for as long as possible will make it easier for your startup to negotiate and set boundaries with investors.
Not Conducting Research
As a startup, your metrics are crucial. When you do a soft launch for one of your games and see low numbers, you need to act fast to understand how to improve your performance. That means playing different games, communicating with audiences, and participating in conversations to understand what works and what doesn’t.
Researching helps startup teams make more thoughtful decisions because they’re making educated guesses instead of taking shots in the dark.
Not Promoting the Product
As you develop and test your games, keeping them under wraps until they’re ready to reach the surface is essential. However, that doesn’t mean your company has to be a total mystery.
Blogging and online forums are huge in the gaming world. If you already have a game or two published, you can make some blog posts about how to play them. Your customers will love getting insider information from you and try it out when they play your games again.
For instance, iGaming websites publish posts that explain terms commonly used in the industry, such as “doubling down.” By helping their players understand how to double down, the platform is assured that customers can then play the games with more knowledge and create strategies with the information.
Having a blog, vlog, or social media page that breaks down specific terms or mechanics in your game will make gamers trust you more and increase the chances that they will return.
Not Working with a Publisher
Lots of gaming start-ups fumble the ball at the very end of their project. When working with inadequate publishers or with marketing teams that don’t know how the gaming industry works, your game risks getting swallowed up in saturated market areas.
Experts recommend working with well-known publishers that already have successful games under their belt. Checking out their track record and communicating your needs is essential to finding a good publisher. Ask fellow developers about their experiences to get an idea of what to look for. Evaluate whether your startup and a potential publisher make a good fit because, if it works once, it’s likely to work again.
