Online gambling operators know how important it is to retain customers. It is much more cost-effective to retain existing customers than to try and find new ones. Fighting player disengagement is a critical issue for today’s online gambling operators. It can be difficult to thrive in a highly competitive market, especially with advertising restrictions that hinder new customer acquisition. A solution that provides an effective and low-cost way to boost retention rates of existing customers is cross-promotion.
The concept of cross-promotion
Cross-promotion involves offering complementary or related products to customers. This strategy can increase the lifetime value of a customer for an online gambling platform. It is important to align cross-promotion with user preferences. Operators of online casinos need to create personalized experiences if they want to increase engagement and loyalty among those who use their gambling apps.
Offers players something new
Players don’t churn because they stop gambling. They churn because they want to experience something new and different. Cross-promotion helps to provide this within the same brand. If players are curious to try out other products, they can do so within a brand instead of going to different vendors.
For example, an online gambling platform may offer casino games and sports betting. It could give free spins to sports fans to encourage them to play slots. Developing great web apps is one way to make the playing experience seamless, and technical integrations can help with cross-promotions.
Isn’t restricted like gambling advertising
Gambling advertising is subject to strict regulation. For example, advertising that links gambling and alcohol or targets minors is generally banned. Online gambling operators must use different tactics to reach new customers and retain current ones. Cross-promotion doesn’t break responsible gambling rules and targets players who are already registered.
Retention in sectors such as online gambling relies on having a solid and ongoing relationship with existing customers. Having loyal and satisfied customers is essential if operators want to persuade them to try other games. It is easier and less costly to persuade them when they already know and trust a brand.
When they have this type of relationship with customers, online operators can convince them to play other verticals. They can maximize the value of current customers by converting a basketball bettor into a multi-sport bettor or a blackjack player into a football bettor.
Can be personalized
Cross-promotion is one of the new marketing trends that are more effective when targeted. Customer knowledge has become more accessible today as big data proliferates. Online operators can maximize their marketing efforts by analyzing player demographics, interests, and habits. They can use the data they collect for KYC compliance to make gambling more enjoyable for the player. Operators can segment users to provide personalized experiences based on their gaming history.
Applying predictive analytics can offer answers about who to target and how to do it. Knowing what devices players use, their favorite games, and how often they bet offers insights to help retain them. AI tools can automatically calculate attributes that can reveal when a player will like a particular game. This allows operators to send players lists of recommended games that are updated daily. More personalized and relevant cross-selling offers increase chances of success.
Redefines the player experience
Cross-promotion in the gambling sector isn’t just about expansion. It is about redefining the player experience. It can even take place at a detailed level. An automatic recommendation model allows operators to target customers with offers based on their recent behavior.
Imagine a bettor watching a live basketball match on which he has placed a bet. In a break, he could get an update on the odds for another basketball match or for a football game. A casino player could get free spins for slots while playing blackjack. Sending recommendations based on recent activity is extremely effective.
