Online gambling sites realize that maintaining consumers and boosting revenues from committed users surpasses customer acquisition initiatives when it relates to ROI. To keep user attrition to a minimum, they understand the value of providing timely, personalized offers that are tailored to each individual. When it comes to online gambling app analytics, a few mathematical models may help you dig deeper, get a deeper understanding of your consumers, and make more accurate predictions about their future behavior.
To What Extent Do You Need to Narrow Down Your Emphasis on Analytics?
The market for online gaming platforms is ever-changing. The sector is eager to adopt new technology for some of the best betting promotions but is also reliant on municipal, regional, and, occasionally, even company laws.
Recent data estimates that the online gambling industry generated $37.9 billion in revenue in 2018, and that figure is expected to rise to $59.8 billion by 2022. Europe is the biggest online gambling industry worldwide with a market share of 18.1 billion U.S. dollars and is predicted to be the dominating market for online gaming and betting throughout 2025.
For these reasons and more, online casinos are turning to cryptocurrencies instead of or in addition to more traditional payment methods. These benefits include complete anonymity, lightning-fast transactions, no need for a middleman, no fees, and no restrictions on where a player may play.
On the other hand, there are significant worries concerning the growing amount of addictions in various nations and other ethical considerations. This is prompting yet more media companies and outlets to place more limitations on game advertising or explore methods to empower customers to ban commercials on their own.
Overall, while designing a marketing plan, online gambling sites need to balance varied local ethical and legal challenges and the rising high-dimensional data sources and technologies – mobile, blockchain, etc. With all these complicated aspects in mind, it is possible to become sidetracked on what marketing issues you should be focused on and what themes are of strategic relevance to your company objectives.
That is why we have outlined the most vital questions you must be looking at right now and seeking solutions inside your consumer data. This is an extremely targeted technique to increase your online gambling marketing analytics plan.
How Are Your Consumers Utilizing Your Product?
Customer journey maps have been used by businesses for decades to show how customers move through the many touchpoints of their relationship with your company. Customers’ real travels via various channels can be uncovered, and the essential ones are highlighted using customer journey analytics. Only by examining the customers’ experience with your own eyes—along the whole route taken—can you truly begin to grasp how to enhance connections and overall performance significantly.
Using trip analytics instead of a simple route mapping project on an online gambling platform makes it possible to unearth answers to far more sophisticated queries.
How Can You Make Your Consumers Happy and Inspire Them to Spend More?
Client Segmentation separates your client base into various categories. These classifications are generally based on multidimensional customer data, such as actual customer purchases and product use behavior, demographic factors or even self-reported purchasing habits, demands and attitudes.
If you want to understand past and forecast likely future conduct, the best method to tackle the problem is to construct a propensity model. These models seek consumer traits that separate purchasers from non-buyers. Making a propensity model, in essence, involves comparing a consumer to a generalized picture of past purchases and assigning an overall score – a likelihood to purchase or an upsell propensity for current customers.
A micro-segmentation model, based on accessible user-level data, may be used to correctly understand your consumer, build the appropriate goods and construct the right offers. In other words, you may customize offers on a much larger scale, not simply for premium gamers.
What Approaches and Channels from Your Marketing Strategy Are Working Best?
A large array of acquisition channels are part of your mix – display networks, affiliates, email, etc. Traditional attribution methods like “first touch” or “last touch” have flaws you are probably already aware of. One of the major drawbacks of this approach is that it ignores the importance of each client touchpoint and reduces the customer journey to a single point of conversion. But customers are not simple, and depending on a standard attribution approach might distort the findings and persuade you to undervalue the relevance of some contact points, particularly if their objective is not to immediately convert, but to inform or develop brand trust.
Mix marketing modelling is the process of understanding which digital and offline contact points have provided the most to your revenue creation and profit. It helps you learn which channels are most successful for your approach and optimize your efforts there. A key benefit of this tool is that it considers the cumulative impact of all marketing efforts over time and provides insight into how these factors affect overall company success over the long run.