The online gaming industry is one of the largest revenues in the world. It builds a strong market that has gathered up to $45 billion in all of its relevant fields.
It is estimated that this will improve every year by 14% thanks to stiff competition and growing digitalization, among others. CRM (also known as Customer Relationship Management) is a tool used to facilitate a positive customer experience, increase customer lifetime value and improve their retention rate, thus making the business profitable. Not only is it the improvements in iGaming technology, but it is also to do with the connection this business has with its customer. It helps millions of players all over the world enjoy exciting gaming.
Customer Retention is when a company or business creates strategies to help combat against customer defection. To put more simply, it means giving the customers a reason to keep spending money on this business and to keep coming back. It means attracting more customers and keeping all of them at the same time. Customer Retention can help prevent the loss of revenue by having a steady flow of income that can be relied on so long as the customer remains happy. For online gambling, this is vital to building a successful community of players so that slots and casinos can keep running for many years to come.
Top Ideas for Marketing Campaigns
Customer Retention can only work when the right ideas are put into place. The aim is to strategize new ways in which you can get your customers to keep coming back to the business. To apply this to online gambling, it’s about finding ways to get the players to keep betting on the games and using the services. After all, the players are the key component for any gambling establishment. Their main objective is to entertain players. Here are a couple of methods to choose from when deciding the perfect Customer Retention campaign.
Favourite Product & Game Campaign
One of the methods is to quickly identify what is the most favoured product belonging to the player and personalizing the campaign through that objective. This gives players a greater incentive to play and deposit money as they can be assured they are playing their favourite product. Personalized communications between the player and the company allow identifying what customers truly want and deliver on their prospects, thus improving retention rate, increasing customer lifetime value and average deposit amount, among others.
For Poker and Roulette players, here are a few examples of what companies will strategize for this method:
- For Poker, the main objective is to encourage a second deposit from the player. You can achieve this by asking players to deposit and then letting them receive a 10% match up bonus on their second deposit.
- For Roulette, you can also encourage a second deposit with a similar method. If they make a second deposit, they will be awarded 10 free spins to try out once they play.
The full experience campaign aims to help deliver on the experience that players wish to perceive. It is about giving them what they want and making sure that they walk away from their experience happy and fulfilled. The key is to find the factors that created a negative experience and do what you can to mitigate these elements or get rid of them altogether. The happier the player is with their experience, the more likely they are to come back in hopes of having that same experience.
A way to measure a player’s experience is to optimize the payout ratio. This is calculated by dividing the win amount by the amount wagered. The higher the ratio has become, the better the experience the player has received. You can identify these in three groups where you can plan your campaigns.
- Bad groups would require negative experiences to be mitigated and dissolved with stronger incentives required. Suggesting a 30% cashback to come back to can be that incentive.
- Good groups would require the company to insist they keep playing and suggesting a 20% cashback if they bet further to win more.
- Great groups would require little involvement since they acquire less persuasion. Adding a bonus of 30 free spins can be a reward for their hard work.
Activity Days
Every player is unique and different. It is necessary to know not just the games that they play but how they play and the times they want to wager. It is important to know how much they are willing to wager and so forth. This suggests that they should be treated accordingly and adapted to. Normally players only have one active deposit day when in actuality, they can have multiple. The more activity days the player has, the more likely they are to play further in the long term. For example, if a player has five activity days, then they are more likely to play than someone who only has two or one. This lets you divide the players into groups so that you can make a recommended proposal for each one.
For example, if they have high activity in the first few days, you can encourage a second deposit to keep playing. When next they deposit, you can offer a 15% top-up or extra free spins. If they have low activity in their beginning stages, you can encourage them to play further with greater rewards. If they deposit a second time, offer a significant number of free spins such as 20 or 30. The activity days will increase when the players are rewarded more often—or granted a better chance at earning winnings.
Cross-Sell
According to the gaming operator’s research, after the eighth day of playing, players will eventually show a level of loyalty to the gaming casino. Players who have shown more activity before this will have a higher chance of moving towards a more active stage. The ways to help improve this is by selling cross-offers that can encourage players to play different games than the single product they have tried. If they prefer one genre, you can offer them another service. For example, if they have only tried sports booking, then encourage them to play something such as a casino, and offer free spins with their first deposit. If they have experienced multiple products, then offer a bonus that can apply to any of them, such as 15% cashback on any bet they place. The same thing can be said about those that have had a similar experience with just casino games. A cross-sell can offer an alternate path with sports booking, allowing them to get a 20% match up bonus to the sport that they choose. It’s best to cover all range of services so that players can experience everything they have to offer before they make the decision to leave or stay.
In-Play Activity Personalisation
In-play activity relates to placing bets on live games rather than placing premade bets on non-multiplayer products. Players who bet on in-play activity have a 2.1x more likely to stay connected with the product than those who bet on the pre-made bet games. This is due to the increase in activity and the likelihood of staying due to interacting with other players. A campaign strategy can be used here to propose three different directions. This can be followed by a step-by-step basis, or it can be used separately from each other:
- If they have made a single deposit, you can encourage them to make a second deposit by giving them a 10% deposit bonus.
- If they have made more bets but only on pre-made bet games, you can then encourage them to play more in-play bets by offering a 10% bonus in in-play wins exclusively.
- If they have made more deposits on mostly in-play bet games, you can then offer a 10% bonus to all winnings from any kind of game, rewarding their efforts.
Awarding the players at the right time and easing them into the services is a fantastic way to increase CMR promotions and take more opportunities.
Personalize Experience
Personalizing the player experience towards games that they love or love to win is how you can get customers to place more bets. One time, a sports brand offered a five-day special offer that allowed players to decide their own incentive and bet on the things they enjoy the most. This again relates to the player ratio: dividing the amount they have won by how much they have wagered in those bets. Calculating the ratio will then determine what category you put the player in and how you can help. Offer a smaller deposit bonus to those who are winning more often and having a better experience. If they are having the best time, then award that effort with 10% bonuses to all wins together.
Conclusion
Customer Retention is how you can get as much money as possible for your business whilst also treating your customers with respect and consideration. Nobody likes to feel manipulated to spend more money. These marketing strategies are used so that you can achieve Customer Retention in a mutually beneficial manner. The customer benefits from amazing customer service and rewarding content – the business benefits from the extended audience and a consistent flow of income. As long as this relationship is cared for and nurtured by pouring actual effort into its maintenance, the customer will never feel cheated, and the business won’t lose revenue.
