Backed by technological enhancements, the concept of fantasy sports has emerged as a significant catalyst for transforming casual sport watchers into active sport players. Fantasy sports have,so far,risen the best fan engagement technique developed. Currently, the fantasy sports market caters sports categories,including football, baseball, basketball, hockey, golf, cricket, soccer, and nascar.

While the fantasy sports business has undergone significant transformation, additional feature inclusions enable users to play the game, utilize their skillsets, and earn money in the process, thereby further pushing the growth of this business.

A key growth opportunity for vendors in the fantasy sports market is leveraging social media and other similar platforms. One of the key drivers behind the growth of the overall fantasy sports business is the rise in the number of sporting events itself. The urge to remain active participants in key matches has raised the market significantly. Currently, fans around the world have access to digital channels and platforms to accessa wide range of sports contests.

Over the years, the fantasy sports market has witnessed a significant growth in the number of participants. This is primarily attributed to factors such as increasing affinity toward sports and the transformation of passive viewers to active users in the competition.

Leveraging social media platforms

  • A key strategy to keep fans engaged in the game is posting fan poll questions and finding how many active members are participating.

With the increase in the internet penetration among millennials, social media platforms have emerged of great importance for vendors to focus on. Social media has given rise to a globally connected community, thereby making fantasy sports a pool of socially connected fans.

Some of the strategies adopted by key vendors for utilizing social media include:

  • Holding contests and utilizing sponsors – Working with news affiliates such as DK live for expanding user outreach
  • Proposing valuable advice for followers – vendors often share real-time updates about match timings, player profiles, and other related details among others
  • Organizing fantasy polls and questions – another strategy to keep fans engaged involves posting fan poll questions and finding out how many active participants are indulged in the game
  • Adding nostalgic quotient – posting pictures and videos of epic past performances and sharing memories of relatable sporting events with fans remains another key method to grow with the shared support
  • Embracing other suitable trends on the platform – one can stay abreast with the frequent changes and transformation of trends within social sites and check whether they can relate with the most recent demands of their audiences.

Thus, vendors are looking forward to targeting social media platforms and promoting sports services to the fullest.

Partnering with diverse stakeholders

With the rise in the popularity in fantasy sports worldwide, the number of viewers watching the sports on diverse platforms has risen. Further, the scope of viewing fantasy sports across diverse platforms has driven vendors to adopt out-of-box marketing strategies, including strategic partnerships. These strategies can help to gather sponsors and partner with some of the best available sources to reach out to the feasible customer prospects.

Some of the key partnerships are:

  • Dream11 partnering with ICC for cricket world cup 2019
  • FanDuel partnering with NFL teams
  • DraftKings partnering with NFL teams
  • FantasySpin and STATS partner for bringing player projections to fantasy sports platform – STATS
  • Blue449 partners with DraftKings for bringing the Dunkin Brands challenge for the PGA tournament
  • IGAMINGEXPRESSEN partners with SCOUT GAMING DEAL for providing DFS in Sweden
  • PlayOn and NBA partner for engaging fans with DFS

With the constant rise in sporting events, strategic partnerships are expected to increase,thereby proving mutually beneficial for both parties. Further, vendors in the fantasy sports market can capitalize on strategic partnerships to gain the hold over the existing sporting tournamentsand increase their reachability.

Read: Fantasy Sports Market - Global Outlook and Forecast 2019-2024

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