As we move into 2023, casino operators need to keep up with the latest trends and predictions to stay ahead of the competition.
1. Decision Making Based On Data Analysis
Numerous operators opt for off-the-shelf software solutions provided by experienced software vendors when they venture into the online gambling industry. This enables the operator to conserve resources and launch their business quickly.
Software platform providers often lack transparency in providing access to data for operator projects. In today’s data-driven environment, operators may consider switching partners or developing their own software to ensure that they have access to the necessary data for informed decision-making.
By meticulously collecting and analyzing data, operators can segment players based not only on basic factors such as age and location but also their gaming patterns. As a result, operators can develop personalized content and bonuses that cater to their audience’s preferences and motivations, ultimately increasing player lifetime value (LTV) and promoting robust customer loyalty.
2. Higher Online Ad Costs
The cost of acquiring new customers has risen significantly, reaching up to three times the usual amount. However, new markets also bring obligations for operators while creating fresh marketing opportunities.
Traditional banner ads become less effective with more discerning players and search engines. As a result, operators are now prioritizing quality ad content and user interaction to capture players’ attention and avoid banner blindness, which means website visitors consciously or unconsciously ignore banner-like information.
To achieve this, many brands have started using dynamic content, such as video and audio formats, to engage with their audience and increase their chances of success.
3. Focus On Engagement
In the past, operators’ main focus was achieving financial KPIs such as first deposits, GGR, and NGR. However, in 2023, market-sensitive operators have shifted their focus towards player engagement. Although financial objectives still play a role, operators now prioritize building long-term relationships with players, addressing their requests, and ultimately achieving their financial KPIs.
This strategy impacts all aspects of running an online gambling business, including building brand recognition and loyalty, attracting and reactivating audiences. In the iGaming industry, players are at the forefront, and their attention is the primary currency that operators possess.
Despite the availability of various extra activities, a casino’s core lies in its games. A diverse gaming portfolio allows operators to reach a broader audience and gain their trust, thereby increasing player flow and conversion rates into loyal customers.
4. Strategies for Retaining and Reactivating Players
In 2023, it’s no longer enough for casinos to rely on organic growth to attract new audiences as businesses need to have a strategic approach to attract and, more importantly, retain customers. The cost per player acquisition has been on the rise every year, and the actual figure varies depending on various factors such as the operator’s reputation and the target audience’s quality.
For instance, let’s assume that an operator pays $100 to acquire one player, but the player leaves the casino after depositing $10 because another operator offers a better welcome bonus. To prevent such a situation, operators can employ retention and reactivation strategies.
Retention and reactivation services aim to increase the LTV of each player. Although often overlooked, these services can significantly increase overall audience loyalty by offering a personalized approach to each player as a VIP bettor. This approach not only maximizes value from each player but also boosts loyalty to the operator.
If you’re interested in stepping into the iGaming industry, you may wish to consult a reputable and large-scale industry player like GamingSoft, which leads the Asian gaming industry. Our huge professional team can tailor your betting platform according to your needs. Through complete technical support and a wide-range of partners, you help to grab the opportunity and stand out globally. Contact us via [email protected] now to find out how GamingSoft Global – White Label Solution and GamingSoft Connect – Casino Game Integration Solution simplify your iGaming business development and operation.
