Why player retention focus is key
Enteractive CEO Mikael Hansson highlights the growing importance for effective retention measures in today’s saturated marketplace
Words by Mikael Hansson
The modern-day iGaming customer has no end of choice as to where they play their favourite casino games or place a bet on a live sporting event online.
With so many betting and gaming sites now available to players, all of which are attracting end users with an array of free bets and spins in order to register and deposit, the acquisition of new customers is becoming increasingly difficult.
It means a greater focus on retention is required, especially when you consider how expensive reacquisition can be, particularly if you go down the route of paid media re-targeting and the varying results of these campaigns.
Operators will have spent a large chunk of their annual marketing budget in the build-up to the World Cup in the hope of snapping up new customers. Thoughts will now turn to how they can keep them engaged beyond the tournament, especially given the amount spent in previous months.
But what are the most effective retention options available?
Many will consider stretching the budget even further with risky free bet and spin offers, while some will continue to add as many new products as possible.
There are alternative and cheaper ways to retain players and keep them happy. One such way is to provide excellent customer service, which can be a key differentiator when it comes to retention.
Going the extra mile by speaking to customers regularly and providing them with a service which matches their expectations is proven to make a real difference.
At Enteractive, our customer support service shows that quality relationships can create connections up to 10 times longer and improve loyalty among players.
An increased focus on retention will inevitably lead to higher retention rates and increase the lifetime value of players. Of course, there will still be a portion of those newly-acquired players that will churn once the World Cup ends.
The reactivation of lost players can be hugely valuable for operators and should be a priority, considering the high acquisition costs as previously mentioned.
Tempting them to come back on board can be a tough and costly task, while those who sit back and wait for them to make a return off their own back could be in line for a long wait.
However, speaking to them on an individual basis can be a simple yet effective way to reactivate them. Through a personalised phone call, operators can build up a relationship much quicker than a generic email bonus offer. The best and most sensitive approach is to ask them what kind of content they would prefer, and the reasons why they have become inactive.
With the acquisition of new players becoming increasingly difficult, now is the time to focus efforts on player retention and reactivation.
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