Board games have long been considered as a popular means of entertainment around the world. Even with the rise of new technologies and online platforms, the board games industry has retained steady growth, and remains a common accessory within many households.
Despite its popularity, starting a board games company can still be a nerve-wracking feat. However, with a little creativity and guidance, you will be off to a good start. Here are some top tips on how to launch a board games company.
MAKE A BUSINESS PLAN
A well-written business plan is a prominent key to success. Business plans are essentially road maps for your enterprise. They can aide in setting goals, tracking progress, problem solving, and achieving objectives for the sustainability of your board games company.
Prior to launching the business, you should create a plan that assesses the feasibility and viability of your board games company. Elements of this plan can include a company overview, an industry, customer, and competition analysis, a financial assessment, and a marketing plan. During launch, this plan can then be used as a vital benchmark to reflect and review upon.
IDENTIFY YOUR TARGET MARKET
Board games generally appeal to a wide demographic. However, it can be difficult to market and engage consumers with an undetermined audience. More likely than not, you will be facing an uphill battle without understanding your specific target.
Identifying a target market will allow you to understand consumers playing habits, and thereby, clearly convey how your board games can help meet their needs. Focusing on a particular demographic has the potential to drive sales through customized marketing campaigns. This is because the differences in audiences will impact how the product should and can be pitched to consumers. For example, strategy games would be better targeted towards critical thinkers while party games are more geared for social groups.
DEFINE YOUR BRAND
Branding is vital for any company. Simply put, a brand is the face or the identity of a business. It helps people and consumers identify your company and provides great value in terms of representation and competitive edge. Brands are intangible, and as such, it shapes people’s perceptions of your company and products.
Defining your brand and creating a unique brand identity involves the use of identifying markers and a clear image of how you want to be seen. For example, this could be a specific logo, symbol, or slogan associated with your board games. Identifying markers are also the company’s specific values, mission, and qualities that set it apart from other competitors. Collectively, these identifiers make up the brand identity and the personality of your board games company.
CREATE A WEBSITE
Creating a website is imperative for the launch of any business. With the right tools in place, building a website can be a fun and simple task.
Firstly, it involves choosing and registering a domain that is catchy, memorable, and easy to spell. Domains can be purchased from a number of providers including Bluehost, GoDaddy.com, HostGator, etc. After a domain is registered, you can choose a web hosting plan and platform through providers like WordPress, Squarespace, Shopify, or Wix.
The design phase then involves creativity of the right theme, layout, and style of the site. It is important to note that the design will emphasize your brand identity and can be fundamental in helping your board game company differentiate from others in the industry.
GENERATE PRESS AND ENGAGEMENT
Prior to launching a board games company, you can generate engagement and excitement through calls to action, product previews, and targeted campaigns. This can build suspense for the launch of your business, and even help you gauge consumers interest with your products.
During launch, it is important to retain potential customer engagement through all marketing mediums. Advertising and marketing is one of the most crucial aspects of launching a company. Generating press by leveraging different mediums can not only help spread awareness of your products but also attract new consumers. Some examples of marketing mediums include social media, email newsletters, word of mouth, search engine marketing, mobile (or SMS) marketing, etc.
