Every year marketers announce their top predictions and trends that should or should not be followed. However, the predictions are very general and cannot refer to every industry. The question is – how to understand which of these trends will work for a specific industry? Industries that deserve to be mentioned, but were somehow left behind?
We’re not going to talk about VR, Blockchain, Gamification and other hi-tech trends. We’re going to discuss the marketing aspect and data behind it.
Casino games and betting are not adherent to industry when we talk about technology, creativity and innovation. Today, there are online versions of land-based games and custom themed, online exclusive slot games. The inspiration for them comes from everything that surrounds us. Themes vary from animals, to celebrities and stories about ancient Egypt. Styles and ways to play differ from one game to another. For instance, the Book of Dead slot is a classic take on the Egyptian mystic culture. On the other hand, sci-fi slots inspired from famous shows and comics are rising in popularity. Choices on games are practically endless and up to your preferences.
Innovations on the players’ seamless gameplay are constantly on the run. Due to regulatory specifics, this industry represents a very distinctive niche. The regulations impose the moves and success rate of the market. Let’s go through the core marketing challenges that every industry has to face in order to grow.
Benchmarking and measuring the results
Nowadays, different brands compete with budgets and big spending. Your competitors do it, so you too have to do it if you want to be successful. Advertising for attracting new users becomes more challenging. Consequently, it is crucial to increase the players’ lifetime value, or the revenue that the player brings when online. The competitive pressure is only one of the factors that have an effect on determining the level of investment.
Creating conditions in which the player prefers one provider over another is quite possible. To create and enable this business atmosphere, you need to understand the interests of your users. How do they behave online? What keeps them engaged? Which elements might cause difficulties when navigating on site? These are just a few of the many questions that need to be answered.
In order to have a clear picture of the situation, you need to identify patterns, analyse data sets and find bottlenecks. The thorough analysis and statistics will calculate the dependence and KPI’s of the business. These indicators will help in defining benchmarks and targeting areas where they are most needed.
Sponsorship projects and competitor differentiation
For most of the bookmakers, this still represents a challenge. Only a few brands are seriously engaged in their image, identity and values. Nevertheless, these distinctive features allow the users to choose in favour of a certain brand. Brand identity and tone of voice are the basis for profound and loyal customer relationships.
It is a matter of emotion, not calculation. It is very important to be sincere and approachable. You must really understand what makes the brand unique. The idea behind the project has to match the global development strategy, and everything should work toward a specific business goal.
Bookmakers still act as the biggest patrons of sports and sports teams around the world. However, by investing a lot of money into sponsorship contracts, they often don’t receive the value they count on. A qualitative assessment of the conditions will enable you to compare whether the investment corresponds to the benefit.
This trend builds on the previous one. To have a bold and clear positioning, own key points and values for betting business is as important as talking directly with a client. Many brands do not pay attention to this question. They don’t see potential in the market usually because they don’t have a positioning strategy. It must be allowed for a brand to grow and scale by building a proper brand awareness concept. This is a long process that uncovers the maximum of the business potential.
There is zero scope for aggressive growth, but you can still acquire players profitability. The focus should be more on ad strategy optimisation rather than spending big. The buzz term in the casino industry will be quality over quantity. Acquiring quality leads will be more than necessary for the business.