iGaming Basics: The Importance of Player Acquisition For Start-Ups
The online gaming industry is continuing to flourish. As more investors are discovering the profits of such venture, each iGaming company also has their own marketing strategy to acquire new players and retain existing ones. In fact, even big players in the industry are still actively offering promotions to former players who have disengaged. In this article, let’s take a look at why it’s important for online casino companies that are just starting out to focus more on acquiring new players.
The Deal Between Attracting New Players and Keeping Existing Customers
Operators who are new to the industry are often following the marketing strategies of the older, more established ones. It may be due to the fact that there’s so much you can include in your marketing solutions for existing players. Their player data can help you create a retention campaign that’s highly personalized.
On the other hand, acquisition may involve a bit of speculation, and trial and error to get new customers to join other players. This is a highly competitive venture, and when you’re a start-up without any assistance from a company offering casino premium services, you’ll end up spending more than you should have to.
Why Start-Ups Focus on Retention
Wooing new players may seem like a herculean task to the “newbies,” especially if there’s no solid marketing strategy in place. That’s why most start-ups tend to go a different path and concentrate on customer retention instead. As mentioned, player data plays a big role in a successful retention deal. With the advancement in technology, casino operators can easily collect behavioral data. These data include anything from sites they often visit, what makes them click on the back button or abandon one site to go to another.
Once data are analyzed and operators are presented on how they can keep the existing players from jumping ship, they can implement retention strategies such as free play that gives players a chance to play without having to spend money, or give them access to a loyalty program. With that, it’s less complicated to come up with solutions that will assure existing customers that they are valued.