The effectiveness of rewards in iGaming
The ability to attract new customers is the key to achieving success and consolidating as a company. In this aspect, iGaming does not differ from other industries and the power of attraction and customer loyalty plays a key role. In this sector you also have to play the cards very well since there is a lot of competition, it is very important to be clear about the main tools to be able to prosper and thus be able to have clear strategies to follow to achieve greater player loyalty.
Get new players with bonuses
In the iGaming sector, it is the clients / players who give value to the business, so the most important thing to be able to expand the business is that the number of active players grows daily.
Acquisition of new players is understood as those new customers who end up buying the product, that is, those who make their first deposit. At first glance it may seem like a simple goal, but it must be clear that the competition in the igaming sector is very fierce, so it will be necessary to propose creative and attractive strategies to achieve it.
Bonuses can be effective strategies in many cases, but they are not always effective. You have to keep in mind what other competitors are doing, and never offer bonuses that go outside the parameters of the sector.
- You can visit other websites of local iGaming companies to check out their offers and bonuses.
- Word of mouth is a very powerful and often forgotten tool in marketing. You have to be very present in the different iGaming forums.
- Making sure the affiliate marketing game is solid and paying off.
Before deciding to opt for one welcome offer or another, it is important to calculate whether this will really allow the acquisition of new users. One formula to calculate this is by making a projection based on the average life value (LTV) of the players.
Neither should we ignore the strategies for reactivating players who have stopped playing after a while. After how long since your last bet or deposit do you need to reactivate them? Which inactive players should be the subject of a reactivation campaign? When should such a campaign be carried out? All these questions must be clear and well answered.
A very attractive offer to incentivize the reactivation of new players can be, for example, a free entry to the bonus feature of one of your favorite games. Already active players prefer games with bonus features.
Customer loyalty = profitability
One of the most typical KPIs when looking at the average life value of players is the churn rate, and this rate is generally higher among new active players. The early phase is the most critical, you have to look for all possible tools to be able to retain this group of new users.
Analyzing the data of the sector we see that the difference in abandonment is 20% higher for all those players who have already placed a bet compared to those users who have stayed on the website for a longer time. The objective for them to stay is thus to make attractive pages. Retention is always more effective than reactivation. Every company and iGaming should think about how in the long term they can structure their bonus strategy.
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