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What can Small Businesses Learn from the iGaming market?

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The growth of the online casino and gaming market over recent years has been stratospheric. Latest predictions are that globally, revenue from online sites will overtake their real-world counterparts within three or four years.

What can the growth of this market and the way it has approached the digital domain, and other conventional marketing channels teach the typical small business?

Focus

By very definition these Casino and slots sites operators are focused on one market and one thing only – Gambling. They exist to satisfy the need for gamers and gamblers to enjoy their chosen pastime at all hours of the night and day and anywhere they choose. They know their market – they know their customer base and they are intently targeted on this market alone. They don’t get distracted by bolt on offers or cross selling – they want to do one thing REALLY well.

Know your Customer

Online Casino and slots sites are, in effect, huge data engines. They capture data on every player, who they are, what they like to play, and when, and what their turn-ons and turn-offs are. They analyse this behaviour and they analyse each player and that allows them to target their marketing to the correct demographic.

Use the Data

With the knowledge gleaned they develop specific marketing strategies that will target either a specific time slot when they know their customers are online – or watching TV, or they will develop promotions upon which they are confident a particular element of the customer base will respond to. If they see a group of players have been spending most of their time on a favourite game – they know to target that same group with some bonus or promotion offers when the sequel to that game is launched.

Target the Campaigns

If you know when are where your potential customers are active – you can target them more effectively right? This is what Casinos study. They know, for each socio-group, when those players are active and what games they enjoy. They know how old they are and what the acquisition channel was for that group. Hey presto – they now know where and how to get similar customers – because they know how they got the ones they have. You want more female players in the 25-35 age group – great!! Promote Brand X game (their favourite) – on Channel 12 (their preferred channel) – between 9 and 11pm (their normal viewing and playing time) – Simple!

Retention

The cost of acquisition in the online slots market is significant. The last thing they want is to win a player and then lose them after a short while. We spoke to Scott Manford, CEO of Wizard Slots, one of Europe’s leading online Casino operators; “We value our existing customers above everything else. We have a dedicated customer support function and a VIP scheme and we make sure that we have every possible support channel open to them 24hrs a day. The last thing we want is a customer bouncing because they couldn’t get an answer on something which is important to them. We monitor their activity and if they are showing signs of getting tired or bored, we might offer them some bonuses on a new game or in something we think might interest them “

“So, the golden rule here is that your best customers are your existing customers.”

Upsell, recycle and save the Day

As we have seen Casinos are experts at monitoring the behaviour of their clients, so much so they know when someone is slipping through their grasp, and heaven forbid to a competitors site. This is where they really get clever as they will often have sister sites which they promote to their customers as a wave off bonus, in essence making the customer an offer to try another one of their sites in an effort recycle them over again.

The biggest lesson of all. Never lose touch with the customer.

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