Why people love fantasy sports:
People seem to love the basic idea of assembling a virtual team online and compete with them. They also love to form up teams online and interacting with them. Let’s say a game of football, people will discuss with their friends to form up a team to take on the other teams in the contest. Although people need not have to move a bit to play fantasy games they still have to use their knowledge in the sports to win the game as the game is entirely based upon the predictions made by the players.
Some of the other reasons why they love fantasy sports:
Fantasy sports is an easy way to develop our knowledge in a sport. One can easily learn about the various players in the game, the fixtures, and more. People love to smart and they get smarter when get to know things. They feel overwhelmed especially when their predictions are right in the game. It also helps them to build a strong relationship with their colleagues and friends. People can also make friends easily in the fantasy sports app forum or chatroom available separately for each sport. People can interact with other players of their own interests.
This kind of engagement among sports enthusiasts is what people love the most. There is another important factor why they love fantasy sports. It is a competition between them and the excitement they experience in it. They do research on the long term performance of a player before selecting him into the team. They lookup for the game statistics, venue, and even conditions of the weather before selecting a team. This helps them to kill the boredom and as well to earn cash.
Why brands love fantasy sports:
Fantasy sports marketing is emerging as an essential tool for marketers. Now with the boom of digitalization, fantasy sports have become the hub of marketing for several brands. It is estimated that around 70-75% of the people who watch the advertisement proceeds to buy that product. This advertisement can be in any form such as TV, social media, etc. However, some leading players in the fantasy sports app industry such as Dream 11, Myteam 11 don’t prefer in-app marketing.
However, brands walk through a difficult path for an association with fantasy sports apps. This is because of the heavy competition in the market. However, we can expect an announcement from them about a collaboration with a major brand in the market. The most important sectors in the fantasy sports market are the tier-2 and tier-3 markets. Both these sectors have given a phenomenal response to the fantasy sports market. Hence, Television and OOH are considered as the major mediums of advertisements for the fantasy sports market to reach their target audience.
Relationship between fantasy sports and real-life sports:
The fantasy sports users will explore newer sports when compared to sports fans who stick to one or two sports. This is because they find other sports equally fun and they don’t require any special skills rather than acquiring knowledge about the sport. The industry has seen major growth in the number of users. The number of users has increased from 90 million to 140 million in just two years in India.
Experts say that this is mainly due to the success of sports leagues like IPL. The major reasons for the drastic growth of fantasy sports in India are due to an increase in smartphones and internet users. They have opened up several opportunities for sports fans to engage with them.
The industry is expected to grow 300% in terms of revenue by the end of this year when the current growth rate is analyzed. By all means, fantasy sports are set to be the next biggest business in the country. The companies spend about 40-50% of their budget on marketing the platform so that they can drive the digital audience with digital outreach and get them on board.
Marketing plans: Fantasy sports apps have separate plans to reach out to the audience in every medium such as TV, social media, etc. They mostly focus on digital campaigns to drive traffic and make it as a conversion. They equally invest in fantasy sports app developers to make constant changes in the products to make sure that customers experience a premium user experience. They work with the aim to create a robust ecosystem in the app and thereby to help in the growth of the fantasy sports industry.