How To Improve ROI and Stop Money Leaks in Online Gambling
Online gambling is a high-stakes game for operators as well as players. The real gamble for iGaming brands is investment: every marketing dollar can either hit the jackpot or disappear into thin air. Like in any other business, marketing is pivotal to success, but there is no catch-all method because every business has different goals, challenges, and positions in the market. How do you improve your ROI?
Return on Investment (ROI) is the ace in the deck, but achieving it is easier said than done. Marketing budgets often spiral out of control, leaving businesses wondering where the money went. The success of any investment is measured by the returns and its ability to generate a higher revenue than what was initially spent. Yet, it could also be an increased brand reach, more engagement, or increased following on social media.
What Is the iGaming Marketing Challenge
iGaming operators face several marketing challenges that make iGaming a difficult industry to penetrate, especially for those new to the industry. For starters, they must navigate complex regulations that change across regions and jurisdictions. Legal compliance also requires implementing robust security measures to protect user data and transactions. Then comes the challenge of standing out due to a saturated industry with several high-level competitors.
The next set of problems encompasses two of the biggest and related to the previous ones — customer acquisition and retention. Acquiring new players and retaining them is increasingly difficult and expensive due to the ever-looming market saturation and player expectations for better and better bonuses. Retention is certainly the more important of the two, but brands need to acquire players first before giving them reasons to stay.
Then there’s cost management, balancing marketing budgets effectively to improve ROI, especially in a highly competitive and cost-intensive market like iGaming. No one wants an ineffective ad spend or low conversion rates. Coupled with the cost of responsible gaming initiatives, keeping up with technological advancements and the effective use of data are just a few of the challenges that affect an iGaming brand’s marketing budget and strategy.
To plug in the pesky money leaks that might occur, Trueplay provides a game-changing solution designed to turbocharge your retention and get brands that much closer to a favorable ROI.
Introducing Trueplay: Your ROI Accelerator
Trueplay is a revolutionary B2B solution that gives operators custom loyalty programs. It is designed from the ground up to optimize marketing efforts and enhance iGaming platforms’ return on investment. Trueplay offers unparalleled transparency, increasing player engagement, and boosting gaming revenue.
The solution revolves around loyalty tokens that operators can brand any way they choose. These tokens then serve as player rewards that they earn through the following programs.
– Play to Earn: Players earn tokens for playing.
– Hold to Earn: Holding tokens can increase their value.
– CopyStake: Let players mimic bets from top streamers.
As you can see, Trueplay provides operators with a wealth of opportunities to boost several KPIs. It makes marketing goals more attainable and will provide returns on the investment in no time. Integrated platforms have recorded reliable growth of up to 18% for retention, 5.6% for net gaming revenue (NGR), 10% for deposit volume, and +8% for average bets per user.
Improve ROI With Trueplay
For those curious about how a loyalty program can contribute to marketing investment returns, here’s how.
1. Increased Customer Retention: Trueplay will incentivize customers to continue using your platform. Retaining existing customers is generally more cost-effective than acquiring new ones. As the latter often requires more extensive marketing efforts and higher expenses.
2. Enhanced Customer Lifetime Value (CLV): Players who engage with a loyalty program tend to spend more money over time. This means more revenue generated per player, which can contribute to a higher return on initial marketing investments.
3. Reduced Marketing Costs: Loyal players require less marketing expenditure to return to an iGaming platform when compared to the cost of converting new ones. The overall ROI can be significantly improved thanks to this kind of reduction in ongoing marketing costs.
4. Direct Revenue: Trueplay encourages players to spend more than they normally would through its different features, which can be considered to be direct revenue and another addition to ROI.
5. Word of Mouth and Referrals: Satisfied players who feel valued are more likely to recommend your brand to others, which makes them reliable marketing tools. Word-of-mouth marketing is highly effective and can reduce the need for costly advertising and promotional campaigns.
The effectiveness of a loyalty program in boosting marketing ROI depends on several factors, including the perceived value of rewards, the ease of participation, and how well the program aligns with the brand’s overall marketing strategy. Trueplay makes it possible for brands to easily consider them when developing a loyalty program that will contribute to their marketing goals.
Plug in That Leak!
Trueplay is a strategic tool that not only plugs the leaks in marketing budgets but also steers iGaming platforms toward a significantly enhanced ROI. It offers efficiency and transparency in a simple package for a complex market. Integration into existing iGaming systems is seamless, providing data tracking and analysis that will be handy for all marketing needs. These insights will help identify high-value player segments and tailor your marketing efforts accordingly.
So enhance your marketing investment and improve ROI with a transformative solution for iGaming platforms. Schedule a call with us and embrace the future of iGaming marketing with Trueplay.
Maximize your returns and market leadership.