Monetisation and retention continues to be a challenge for many gaming companies in India
Even as game developers across the country look to tap the vast community of online gamers in India, monetisation and retention continues to be a challenge for many gaming companies. Companies, therefore, are turning to options such as discounts to grow their user base and maximise their revenues. “Discounts can give you a flip, however, they are not going to help you in creating your LTV-CAC ratio,” Manish Agarwal, CEO, Nazara Technologies said. He was speaking at the first edition of India Gaming Summit 2020, in conversation with Alok Kejriwal, co-founder and CEO, Games2win and Siddharth Banerjee, chief revenue and marketing officer, Games24x7.
According to Kejriwal, the world of mobile gaming is nearly $70- $80 billion and there is a large appetite for it. “The key to growth is to identify the need gap between consumer demands and market offerings as well as have an understanding of the competitors to fill in the product gaps,” he added. Having said that, it is also important to read people’s reviews on different games available in the market to tailor products according to consumer needs. “The more you listen and talk to them, the more you know what they want,” Kejriwal noted.
As for Banerjee, consumers are looking at playing games in a frictionless environment, and developers need to identify exactly that. “We need to be in tune with the consumer’s requirements and offer products that the consumers want — be it vernacular, or other formats,” Banerjee explained. Moreover, companies can also look at games that perhaps are built in from our culture, or games that people are familiar with and tailor it further. “The key is to build on the storytelling culture in the country coupled with the best technology and develop games for the world which are built on excellent UI/UX, design, and stories which enchant the world,” Banerjee elaborated.