Online casinos and betting sites entice customers with exciting games and prizes. But in order to stand out from the competition, they must also have a loyalty programme that rewards players. Retaining customers is a problem that both casinos and online gaming platforms face. Only when an iGaming company is able to increase retention and reduce churn do they succeed. But how will you do it as a gaming operator? The solution is loyalty initiatives.
Why are loyalty programmes crucial? Loyalty programmes are tightly linked to customer pleasure and retention, which is why they’re implemented even in firms where profit isn’t the primary aim. Online casinos and even well-known gaming sites struggle to keep players because of the pervasiveness of internet access and the overwhelming number of businesses vying for new business. Loyalty programmes are aimed at both current and new players who haven’t chosen a specific gaming company to support.
You can learn about the significance of loyalty programmes for the online gaming industry in this article. Additionally, we have gathered some of the top customer loyalty plans for your online gaming company as well as marketing automation software that will elevate your brand.
Let’s start by determining why consumers continue to support specific brands. Why do consumers stick with a brand? Customers stick with a brand because they believe you offer superior quality and service to rivals, regardless of price. A devoted customer is also more likely to try additional items from that specific brand. Therefore, building a loyal customer base is the best way to improve the long-term performance of your business.
How do casino reward schemes operate? Customers are inspired when you acknowledge and thank them for coming by rewarding them for their purchases. And if they think they are saving money as a result of rewards, they keep supporting your business.
What are gaming loyalty programmes?
The purpose of gaming loyalty programmes is to reward your players for their dedication. It has never been simple to persuade customers to make repeated purchases from you. When you have a plan in place to encourage repeat engagement, it can sometimes be a little bit easier. Gaming loyalty programmes are the name given to such meticulously chosen marketing tactics for online gaming services.
Are loyalty programs effective?
Yes! Loyalty programmes are very successful. You cannot possibly imagine how much more of an impact they have on the financial success of your iGaming business. Actually, a 5% improvement in customer retention increases business profits by 25%–95%. Customer loyalty = increased profits, to put it simply.
You can help your current customers feel good about supporting your company by implementing a loyalty programme. Customers are much more likely to stay with casinos Software and online gaming platforms that offer loyalty programmes than those that don’t. If your online casino doesn’t have a loyalty programme set up in its marketing, you might soon start losing customers to competitors who do.
Just look at these statistics on customer loyalty:
- 82% of businesses feel that retention is less expensive than acquisition.
- 75% of customers prefer firms that give incentives.
- 56% of customers stick with brands that “get them.”
- Existing customers account for 65% of a company’s revenue.
- Simply increasing client retention by 5% increases profitability by 25% to 95%.
- Personalization tactics are used by 58% of businesses to retain customers.
Without loyalty or retention programmes, customers will feel underappreciated, which will hurt business. Why are customer loyalty programmes important? An easy justification for using a customer loyalty programme is the effect it has on sales. Are repeat customers more lucrative? Unquestionably yes! Having devoted customers will make it simple to grow your brand. More exposure and traffic will ultimately result in successful business.
According to a market study, 50% of consumers said that good customer service would encourage them to stick with a particular brand, while the other 50% emphasized product quality and ease of use. What advantages come from implementing a successful customer loyalty programme?
Following are some of the best loyalty program perks:
- Increased customer loyalty
- Increase in customer retention
- Decrease in customer churn
- Brand awareness
Your iGaming platform’s overall business performance will be better.
best loyalty programs for the iGaming industry in 2023
- Rewards for depositing
First-time deposits, also known as FTDs in the iGaming industry, denote the initial deposit a new player makes on a gaming platform. The goal is to increase the incidence of FTDs (Converting users who signed up on your platform into First Time Depositors). Your targets are all recent users who signed up for your gaming platform. Players will receive an automated email with a First-time deposit offer after signing up and confirming their email address. As an illustration, deposit $10 and receive 10 Free Spins. or make a $50 deposit and receive a $25 bonus. Learn more about increasing FTD conversions.
- Loyalty tiers
Depending on the amount they spend, different groups of customers may receive different rewards or discounts through a tiered loyalty programme. By rewarding them for each purchase, you hope to encourage your customers to make larger purchases. The sample email template that follows can be sent to your client as soon as they register on your platform. “If your First Time Deposit exceeds $100, you will be elevated to the Gold Tier. If your FTD exceeds $50, you are in the Silver Tier, while everyone else is in the Bronze Tier “. You can divide your players into three levels based on their FTD amounts: High (Gold), Mid (Silver), and Low (Bronze). Then, you can make suitable offers to various gaming levels, as shown below. Each Tier offers special advantages:
- Gold: 15 free spins every day for 5 days.
- Silver: 10 Free Spins every day for 5 days.
- Bronze: 5 free spins every day for 5 days straight.
offers tailored to your preferences and behavior
Target them with customized marketing to achieve excellent ROIs. Find out more about the preferences and other gaming behaviors of your player. Send them offers that are specifically based on their preferences. Only send special offers for slot games to slot players, and only send offers for sports books to sports book players. A casino operator can create behavioral segmentation and distinctive marketing strategies with the help of an understanding of player behavior. We can forecast a player’s future actions by knowing his characteristics. We can easily automate typical user flow and predict player responses. To learn more about player behavior, click the link.
Why do loyalty program software need iGaming?
This marketing automation tool was developed specifically for using persistent marketing strategies to advertise your online gaming business. Risk management, marketing automation, and compliance are made easier for gaming platforms by using player data to increase their long-term brand value and client lifetime value. With the aid of its all-encompassing real-time automation engine, it helps in distributing pertinent messages to pertinent players at the appropriate time. All of your iGaming platforms can use fantastic loyalty boosting strategies.