Overcoming the сrisis in esports: advice and forecast by Yura Lazebnikov and Oleg Krot
Sharing experience is the best thing you can do during a crisis.
That is what our founders, Yura Lazebnikov and Oleg Krot, thought, and so they took part in PM GO 5.0 Briefing — a public discussion held in April by Parimatch Tech. They spoke about the lessons from the crisis in esports, global dependence, and when the stands will be full again.
“Turtle strategy”, or What is going on in esports during the crisis
The lockdown has shocked the world deeply, and now everybody follows the so-called “turtle strategy”, which means hiding in their shell and waiting for an opportunity to poke their head out some time later. It is reasonable to start adapting to the situation; to make some momentary conclusions about how to operate in the world with the pandemic.
The likelihood of games with full stands being allowed any time soon is a low percentage. That is why, in the next six months, WePlay! Esports will follow two scenarios: pure online or a sort of online that will enable holding in-studio LAN events or events without the audience in attendance. Our team is prepared to instantly switch between these two scenarios. As soon as it becomes possible to bring in talents and teams to hold LAN events, we can launch a tournament with the new format within days.
Crises are like peas in a pot
Before the coronavirus crisis, esports had already survived multiple challenges. And though each crisis has its specifics, their signs are the same: dropping purchasing power, slowing down business processes, and shrinking budgets. And the lesson to learn from any crisis is the same: you must be flexible, you must have a plan B, and C, and D, and so on as far as Z.
A trusted team will keep your head above the water. Workload always increases in the time of hardship, and the winners are companies with a strong team of managers and regional leads. Do not try to complete all processes on your own. If you have been able to diversify management, your markets, and customers, you have learned the lessons of the previous crises and have done your homework.
Basically, you need to always be prepared for an instant change in the market, even when there is no crisis. This is the key to success.
Flexibility is the soul of success
No business should be focused on a single region and dependent on success in this region. That is why WePlay! now operates in North America, South America, Europe, CIS countries, and China. And presently, while the regions are overcoming the crisis using different methods, WePlay! Esports focus their efforts on the most relevant locations. Our strategy for 2021 envisaged that the next year would be all about China, South East Asia, Pacific countries, and Australia. We are now speeding those plans up.
Many companies, probably many countries, will not be able to adapt quickly; they will not have sufficient reserves to recover fast to stimulate purchasing power. However, many experienced players, including WePlay! Esports, use the situation to win. We have prepared by diversifying our businesses, recruiting regional leads, and getting ready for any development.