According to Harvard Business School, a 5% improvement in customer retention can easily lead to a 50% increase in revenue. Incredible, isn’t it? Just imagine what a 20% improvement in your customer retention rate would do to your business?
Today, online casinos operate in a very dense competitive environment. In addition, online casinos need to come up with original ways to stay ahead of their competition and develop ways to keep customers coming back for more. For this, most online casinos use comprehensive marketing strategies focused on customer acquisition, retention and reactivation.
With the constant increase in customer acquisition costs, particular emphasis is placed on customer retention. It is recognized that a business spends much less on retaining a customer than acquiring a new one.
Here are some of the best marketing techniques employed by online casinos in recent years to retain players.
The online companies are very focused on bonuses and promotions as this is very helpful in retaining old customers and acquiring new customers. These promotions are actively used during new game launches to grab players’ attention, such as giving away free spins.
Online casinos offer bonuses in the form of free trials: “try before you buy.” This bonus allows customers to use a product for free without having to enter their credit card. All they have to do is register to take advantage of their offer.
These bonuses can also take the form of a referral bonus, welcome bonus, cash-back, loyalty points and other incentives that can encourage old and new customers to purchase your products or services.
This can also be particularly generous bonuses, such as, for example, 20% offered for the first order or even €50 offered for the first order. This type of offer is always a good eye-catcher.
Regular customers of online casinos are savvy customers who do not hesitate to compare promotional offers between different casinos. Therefore, the casinos have set up dedicated teams that actively study the competitors’ offers to create more attractive offers. This is called doing competitive intelligence, and it is what you need to do for your business.
How do online casinos attract and retain the biggest spenders? As with many things, the Pareto Principle (80/20 rule) applies here: 80% of your revenue comes from 20% of your customers. So the casinos offer better treatment to this top 20% of customers like VIP queues, dedicated staff, upgraded hotel rooms and more. Treat your customers like you would treat your family, and they will thank you.
Another effective customer retention strategy often used by online casinos is to organize events that offer rewards to players for completing specific tasks to ensure that they play for a lengthy period. This involves, for example, Betsson casino bonus offer promotions for a period of 24 to 48 hours.
This way, the customer will stay logged in to your website until they can receive the final promotion. These 24–48-hour promotions also attract new customers and keep old customers happy, of course, as long as your offers are attractive enough.
Casinos send push notifications to remind customers of upcoming races or games and encourage them to place a quick bet based on their playing history.
This smart strategy is a way to communicate and engage existing customers. According to recent data, push notifications can increase engagement by 40% and lead to a retention rate of 116%.
Tell Players How Much They Can Earn
Casinos always mention recent jackpots that players have won. Leverage this, and don’t be afraid to highlight the results of customers who have improved their lives or their bottom line with your products and services. Talk it over. If your customers have a problem to solve, they will appreciate knowing that others before them have successfully solved their problem because of you.
Another great marketing tactic that online casinos use is the offering of tournaments. Lots of players love to engage in competition, and with casino tournaments, players can find all the activities they love. For example, there are a lot of slots tournaments on the most well-known casino sites. These can be free-roll events (with free entry) for players who are already a member of the site or even buy-in events that are open to everyone and often include massive prize pools.
Several online casinos will also have other types of tournaments like Betsson Casino, such as blackjack and poker events that are open to everyone. With these tournaments, casinos want to attract players to their site and retain them by making them want to participate in upcoming events to have their chance to be the next big winner. Online tournaments provide an excellent opportunity to play your favourite games and interact with other players while having the chance to win jackpots that exceed those of single machines.
We can take as an example the online poker tournament, which has turned out to be the most successful because they manage to attract professional players who can pay higher buys, which increases the prize pool and generates additional income for the casino hosting the event.
Finally, please note that companies that make customer experience a priority generate 60% more revenue than their competitors. Apply all of these tips to your business, and you will achieve great results in creating an immersive and engaging experience for customers.
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