player Relationship Management (CRM) is an important part of business today. As competition increases, and player bases and markets grow larger — it is becoming increasingly important for online gaming operators to get more information about their players in order to maintain and potentially grow their market share, as well as build player lifetime value.
The Importance of CRM in the iGaming Industry
Casinos have been at the forefront of realizing the enormous value of truly detailed player information and using this information in managing their player relationships. Almost every casino’s information system already contains data on player statistics such as average bet, duration of play, and win/loss. With the right CRM software, we can now centralize data gathering and analytics efforts even further.
Usually, CRM systems are designed to collect player information across multiple channels and contact points, while equipping player-facing staff with exhaustive information on each player’s personal preferences.
The main goal of CRM is to help companies to:
- gain a better understanding of their player behavior
- develop stronger player relationships through personalization
- improve their marketing and engagement efforts
- be more efficient player acquisition and retention
- reduce churn rate
- improve cross-selling
- automate repetitive tasks
- increase measurability of marketing efforts and campaigns
- refine audience segmentation for more focused targeting
- improve cost management
- increase profitability.
Casinos and gaming platforms operate 24/7, so the use of CRM is immediate — employees need player data as soon as possible – while the player is ‘standing’ in front of them.
Successful CRM Implementation
There are serious advantages that come from a successful CRM implementation. In using CRM tools, gaming companies can take an analytical approach when using their information. All player data is stored in one data warehouse which is accessible to marketing managers so they can analyze the data and harness predictive modeling. At the same time, player support representatives can also access these records to improve communication and answer player queries with personalised responses and offers.
The true power of CRM systems lies in their potential to minimize the risk of failure by leveraging the true potential of the data which is stored and consolidated in a structured manner and yields comprehensive insights into players’ preferences and needs.
Impact on Business Performance
Implementing a CRM solution requires thorough planning and careful execution. In the long run, it pays to have the support of an experienced team that can help the process of setting up and using the CRM system.
It is crucial for online gaming businesses to fully recognize the value of players over time. And even though technology plays a key role, the focus should be on business practice. Your success lies in the hands of the employees that use it on a daily basis to ensure the players are truly catered to. CRMs help gaming companies change the way they work, leading them to change their focus from serving the general public to catering to single players. Thus, building stronger relationships and increasing retention rates and profits — which in turn, pave the way to success.
Ready-Built CRM Solution
GamingSoft Global iGaming White Label solution and GamingSoft Connect iGaming API solution both come with a robust and powerful CRM solution built-in. With our solution, you not only gain access to all the most popular and sought-after iGaming providers in the Southeast Asian region — but you also open your doors to capturing brand new markets.
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