It is no longer enough to simply launch a gaming site and watch your revenues grow, says Peter Korpusenko, CEO of TVBet. But with a portfolio of top-notch live games, an analytically informed promo strategy, and crucially, the right jackpot – players will only move in one direction.
The online gambling sector is an excellent example of online marketing. With the compound annual growth rate (CAGR) of 11.5 percent, the sector is expected to reach $102.97bn by 2025.
The casinos and betting operators work within large territorial restrictions and legal requirements, so they have to do their best, arguably more than anyone else, to attract and retain customers. They are in possession of a variety of different tools and methods to stimulate the growth of the number of players, as well as encourage actual players to come again and again.
It is not enough just to launch a site, connect products, obtain authorisation permits and watch your company grow. But still there is a large cohort of entrepreneurs who believe that running a gambling business simply consists in launching a site, filling it up with traffic, after which you can crank up the GGR. In the long term, such an approach will result in a suspension of operational activities due to a lack of liquidity, which will affect all the operator’s business processes with time.
So in order to truly compete in the market, online gaming operators must give preference to the integration of popular games – and today more and more companies are resorting to adding live-games. For example, B2B audiences in Europe and CIS enjoy longstanding cooperation with TVBet provider. But there is another part of the business that stays afloat when faced with obvious shortcomings in retaining and involving the players. There can be quite different operational problems, such as a lack of a sufficient budget for maintenance of the marketing department; lack of promos and bonuses etc. The list of problems can be very different, including both internal and external factors. How does one overcome this avalanche of inefficiency and start to receive conversion from each promotion or marketing activity?
In TVBet, the team decided to create a partnership department for such cases, the main objective of which is the development and support of the product on the side of the operator. It doesn’t stop communication after integration, quite the opposite: we support by providing marketing outsourcing services. In other words, the partner takes TVBet’s live games integration and receives, as a bonus, a large marketing team that will work with three main areas: analysis of the operational status, development of a product promotional strategy and implementation of the strategy together with the operator’s team.
Constant work with the involvement and retention of players creates a really effective KPI growth. The number of players and bets on its games is growing, which influences the turnover and profit of the operator. An excellent tool of attraction and retention of players are promotions and jackpots. On an average, TVBet’s team runs two promotions and 660 Jackpot draws per month with one partner. This figure always changes depending on the size of the target audience. But it is enough to maintain interest in the game and produce a constant growth of GGR.
It is important to keep an exclusivity of promotions and jackpots in order to make them less frequent and consequently “not to devalue” the product. The amount of money collected during the promotions should attract and motivate players to act. On an average, the TVBet jackpot amounts to E30K among all partners.
The TVBet analytics department has noted that those operators who use Jackpot tools are 27 percent more popular among players than those who neither use the loyalty system at all nor work on its attractiveness. In an example of one company, after starting work with the TVBet partnership department, it has increased its monthly active audience of players from 1.5 million to 2.2 million, and the growth in the number of bets has amounted to 45 percent. Choosing a place to play, many players pay attention to the prizes offered by the platform. Besides, the jackpot amount speaks of the honesty and reputation of the operator. For this reason, aside from bonus systems and a beautiful design, an online casino or bookmaker should look out for the largest jackpot that they can afford.