Ian Bradley, Chief Product Officer, explains why personalisation remains the key to unlocking player value.
The sports betting and iGaming industry is clearly one of the most competitive online sectors. In such a crowded marketplace, the emerging key differentiator for giving operators the edge is personalisation.
In a jungle of introductory offers, cutting through the undergrowth with truly targeted acquisition promotions is clearly vital for growing a bookmaker’s base. Online sports bettors are usually web-savvy and fully aware that all online activities leave footprints that enable digital marketeers to leverage people’s preferences, creating laser-focused campaigns. A properly personalised promotion is therefore a potent tool for bringing in high-value players and providing maximum ROI.
Sign-ups are just the start, of course. To create the most satisfying player journeys and ensure optimal lifetime value, operators of all sizes are now looking to create ever-deeper levels of personalisation. A customisable front end complete with quick links, based on both active player decisions and on automatic reordering of sports and markets based on previous behavior, is already seen as an essential element of an effective, engaging and ergonomic experience.
Basic geo-specific content is also a must-have for any top-class sportsbook. Customers who are drawn towards localised opportunities are proven to represent up to five times the overall value of customers who bet on top sports first. ‘Best Odds Guaranteed’ and odds boost promotions tied to localised bets also greatly increase turnover. The fierce allegiance of local fans to their teams is a powerful force that can be effectively harnessed to build brand loyalty.
THE BIGGER PICTURE
In terms of offering each and every player a genuinely tailored service, however, a mastery of Big Data techniques is required. Through the intelligent collation, analysis and application of player data drawn from both individual and segment activity, a number of objectives can be achieved.
The industry’s leading platform solutions use propensity models to predict a player’s lifetime value right from the word go, calculating his betting trajectory with amazing precision based on just a few bets.
Focused recommendations based on a customer’s previous betting activity are universally well-received by players. A player’s regular markets, and his bets on matches which directly impact on his favourite team’s standing, are both popular approaches. The most valuable recommendations, however, are those which offer bets on markets where a player has previously enjoyed success.
As the betting industry moves towards an Omni-channel future, successful operators need to consider the best ways to deliver these recommendations across various devices. A seamless service across channels creates brand loyalty by providing everything a player needs, wherever and whenever they choose to bet. Operators must understand the rhythms of player lifestyles, peak times for pre-match and in-play betting, the ideal length of time between a betting suggestion and bet placement and the appeal of different verticals at various times of day.
An efficient and scalable platform solution also enables operators to streamline and fine-tune their businesses, ensuring maximum profitability. Monitoring performance in real time, creating custom segments quickly in order to optimise promotions and drilling down data with customer source tracking and affiliate management systems are some of the ways that a well constructed platform can deliver quality BI.
Social responsibility is high on any operator’s list of priorities too. In a dynamic global industry, with newly regulated markets constantly emerging, it is vital to deploy data to protect players from potential problem gambling. A platform with this imperative at its core uses multi-layered algorithm factors to flag up issues such as abnormal staking, unusually high activity hours, loss-chasing behaviour and out-of-the-ordinary win or loss amounts.
A 360-degree view of the preferences of individual players and customer segments is essential for predicting activity, perfecting tailored messaging and generating timely and appropriate betting suggestions. By building a strong customer profile base, the opportunities are endless in terms of the products and services you can offer.
The gaming industry is 24/7, and understanding the different behaviours of your customers to trigger the right message at the right time is key. Operators do need to carefully consider how far to take personalisation, and whilst most users are aware of and appreciate the benefits of data collection and analysis, it is a fine line and we need to ensure the customer feels like they are still in control. Find the right balance and it is a win-win.
The key for operators is to have a platform built around intelligent data analytics, enabling them to implement their strategy with complete confidence.
Source: iGaming Business, February 2017