Participants:
Yoni Sidi, Chief Executive Officer at Winpot
Fraser Linkleter, CEO at Slots Temple
Oliver Niner, Head of Sales at Pandascore
Allan Petrilli, Managing Director of Acquire.Bet
In your view, why do you think player acquisition costs are reaching record-high
levels?
Yoni Sidi: Player acquisition costs are soaring due to increased competition in the industry, which drives up both advertising and marketing expenses.
Additionally, sophisticated targeting and personalisation efforts require significant investment in data analytics and technology. As more operators enter the market, the demand for high-quality, engaging content rises, making it much more expensive for operators to attract and convert new players.
Fraser Linkleter: For years, the industry has relied heavily on welcome bonuses and new player promotions. Show me any big brand who doesn't offer a welcome bonus. This can be great for players who can reap the rewards of all these bonuses, but the prevalence of such promotions has created a landscape where players bounce from one brand to the other, with little loyalty towards any one brand.
Therefore, operators all have to pay more and more to try to establish any cut through in their marketing and pay again to offer extensive welcome bonuses to the new players.
Oliver Niner: The competition among operators is undoubtedly driving the cost of acquisition ever higher. Betting brands are having to shout louder than their rivals and ultimately this costs money. You only need to look at the US to see how expensive bonusing and marketing can be – and if one operator digs deep into their pockets, others must follow or risk falling behind.
This is why esports betting presents such a big opportunity for operators to grow their player base simply by adding esports markets and odds to their offerings. Of course, those who want to maximise the potential the vertical offers will deploy a comprehensive esportsbook which includes things like a bet builder and player props.
Allan Petrilli: In a word, competition! While regulated markets mean potential to buy traffic in more locations and platforms, operators are not only competing against one another for attention, but now more than ever, they are competing with other entertainment products for market share too. There is also the challenge of efficiency.
As an industry, iGaming is falling behind in engaging with users. We need to be much more creative by focusing on, and improving, the overall user journey and engagement campaigns such as promotions and bonuses. Operators need to use a data-first approach to buying traffic to try reduce acquisition costs.
What’s the secret to keeping players coming back in the long term?
Oliver Niner: Providing an experience that not only meets but exceeds expectations across all areas. Everything has to be flawless from sign-up to payments and the odds and markets offered.
For esports betting, this covers the depth of markets and odds available, with operators having to get around some of the challenges the vertical presents to deliver real-time odds that offer the best value to their players.
Markets must be comprehensive, too, and include a wide selection of popular games like CS2, LoL, Dota 2, and many more. Ultimately, it comes down to nailing the basics – if you don’t, the high cost of acquisition will be for nothing as players will quickly leave to see what a rival brand has to offer.
Allan Petrilli: There is no secret to the fact that it takes HARD work. Marketing, promos and creativity can get a player inside your “four walls” - but once they are in, the product will always win. Operators need to have a sticky product that delivers so that players keep coming back.
Creative promotions, personalisation, scope of offering and adapting to trends are all incredibly important too. With how quickly technology is evolving, you need to ensure your brand doesn’t feel “old” at any point in time.
Yoni Sidi: The key to long-term player retention lies in offering personalised and engaging experiences to your audience. This includes tailored promotions, loyalty programs and regular content updates that cater to individual preferences and help you stand out from the crowd.
Creating a strong community and fostering social interaction among players can also help build loyalty. By ensuring a seamless, secure and enjoyable gaming experience across all touchpoints, operators can ultimately keep players returning to your site in the long-term.
Fraser Linkleter: That's simple - offering them a gaming experience which is unique, engaging and safe. Slots Temple offer popular slot games, but unlike other brands, we also provide the player with a choice of how to play – whether that’s for real money, as a free demo game or as part of a tournament against other players.
This offers a unique way of playing their favourite games on a site which is safe and cares about keeping our players safe too.
How do these approaches balance the need for immediate engagement with long- term loyalty?
Fraser Linkleter: Any brand that can establish true immediate engagement, and I'm not talking about just wanting to earn a bonus based on superficial enticements, has laid the groundwork for continuing that into a lasting relationship and long-term loyalty.
The initial engagement has to be of value to the player and resonate with what they are looking for. It also has to be unique to anything that they can get elsewhere. By consistently delivering that value, operators can drive ongoing loyalty and keep players coming back in the long term.
Yoni Sidi: Immediate engagement can be achieved through attractive sign-up bonuses
and initial promotions, but retaining players requires a sustained effort. By combining short-term incentives with long-term value, such as continuous rewards and personalised experiences, operators can keep players engaged initially and build loyalty over time.
Regularly refreshing content and maintaining high standards of customer service further ensure long-term retention.
Allan Petrilli: I think that immediate engagement and long-term loyalty go very much hand in hand. Players want to feel important and appreciated, so operators need to ensure that players feel appreciated right from the get go.
And then, once you’ve onboarded them, you need to maintain that consistent engagement. Operators should collect as much data as possible, and use these insights in a way that helps them to tailor their product offering to their valuable customers.
Oliver Niner: Operators need to engage and entice players to their brand but then deliver the experience they are seeking. Acquisition is a vital part of the process, but it’s just as important to have retention strategies in place and this must go beyond promotions and bonuses.
The player experience with the sportsbook is what ultimately drives retention and that’s why it’s so important for brands to be constantly optimising their user journey, experience and offering. As a supplier, we are always enhancing our solutions and working to bring new, innovative products to market so that our partners can stay ahead of the game.
When it comes to it, both immediate engagement and long-term loyalty are required for any operator to succeed in the long term.
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