Drawing business insights from the marketing strategies of online casinos
Some industries seem to have figured out a way to market their products and services, and they are using these strategies to grow their user base consistently.
One of such industry is the online casino industry. Data reveals that from 2019 to 2023, the online casino sector grew by 62%, accumulating over 94 million users.
Studying the marketing strategies of online casinos can offer you insights you can apply to grow your business. In this article, we explore the marketing strategies that online casinos use to attract their target customers.
Build a trackable funnel for your offers
When online casinos have new games to launch, they come up with strategies to acquire as many casino game lovers as they can. These strategies require these online casinos to build marketing and advertising funnels that will help them attract their ideal persona.
Typically, funnels are designed to move prospects through four major stages, which include the awareness stage, the interest stage, the desire stage and the action stage. In the awareness stage, casinos are keen on driving targeted attention to their offers so people know that these offers (often new games) exist or will soon be released.
Online casinos use channels like blogs, ads, social media and referrals to send their message across, and they make sure to plan everything ahead of time. For example, MrQ has a list of new slot games like Prize Punch Lucky Tap, ultimate roulette and more, which will be released in the coming year, and they’ve already started making the public aware of these games.
Through blogs and other channels, they are actively talking about the unique slot themes and mechanics, as well as the bonuses and potential rewards that players can enjoy. Businesses of all sizes can adopt this marketing strategy to improve how they interact with and attract their ideal customers.
Give prospects an incentive to choose you over the competition
When customers are faced with a plethora of options, they are often swayed into patronage by the business whose unique value proposition can inspire them (customers) to take action. Online casinos understand this and use generous bonuses and promotions to encourage individuals to play their games. These incentives are usually designed to allow gamers to try games without staking too much money.
The goal is to use these welcome bonuses, match bonuses, free spins, no deposit bonuses and many more to convert interest into desire and stakeholders into registered participants. Businesses can model the incentive strategy of online casinos to create offers that persuade prospects to choose them over the competition.
Retain loyal customers
You’ve probably heard that retaining loyal customers is cheaper than acquiring new ones. This is often true. In fact, data shows that increasing your customer retention by 5% can boost profits by 25% to 95%. However, many businesses fail to keep their customers loyal to their brands and lose the best ones to their competition.
Customers are loyal to businesses that solve their problems, offer them great experiences and reward them in ways that the competition may not be able to. One way that online casinos keep customers devoted to their brands is through loyalty programs. At some online casinos, when players play several games, invite someone new to the casino or achieve a certain milestone on their platforms, they are rewarded through loyalty bonuses like multipliers, free spins and fixed bonuses.
Another way digital casinos retain loyal customers is by staying updated and offering customers versatile options. These casinos carry out regular technology updates, offer players numerous ways to make payments, offer a variety of customer support options, and also add new games consistently to make their offerings convenient and fresh.
Before you apply these insights
Taking inspiration from online casinos, you can come up with marketing ideas and structures to attract and convert your target audience into loyal customers. However, it is also important to remember that businesses are unique, as are the challenges they face. Therefore, what may work for a particular business may not apply to another.