Sports Betting Focus 2017
THE RETENTION REVOLUTION
There are plenty of tactics available to help operators attract users to their sites , but the real trick is getting them to stay . Michael Maerz , managing director betting for Betradar , outlines the three core areas sportsbooks should focus on to keep players happy .
Today ’ s regulated sports betting market is one of the most competitive ecosystems around . It has matured very quickly in the wake of advances in internet and mobile technology , and the need to differentiate and rise above the crowd is fierce .
While operators continue to focus on attracting new customers into their shops or sites , increasingly they are pouring creativity and resources into retention , reactivation , upselling , cross-selling and other ways to engage those already in the CRM database . Bookmakers offer the likes of free bets , cashback , jackpots , betting frequency bonuses and deposit bonuses , as well as loyalty and VIP programmes , to reward regular customers .
When it comes to cross-selling , operators try hard to tempt their clientele into the full range of their products , employing the likes of additional bonuses and free spins to charm , for example , sports bettors into casino or vice versa . Cross-selling across sports is also a focus and tools such as ‘ bet one get one free ’ and free bet options are designed to persuade bettors to stray outside the realm of their favourite competitions . Delivery of these opportunities direct to the customer goes across the full range of channels : emails , SMS , popups , newsletters , etc .
But in some ways , all of these offers are just the tip of the iceberg , the shiny trinkets . What underpins real customer retention ? After the short-term hit an enticing offer may prove to be in attracting new customers , the most successful operators employ long-term elements to keep bettors loyal . We would split these into three core areas : efficiency , customer service and content .
The three pieces of the puzzle There is nothing that annoys bettors more than inefficient operators . Nowadays , there is little or no excuse for delayed payouts or delayed bet acceptances . Speed and reliability in these areas are taken as a given by customers in today ’ s ecosystem . But efficiency also touches on providing reasonable odds . While there is only so far operators can go before they descend into an industry-hurting price war , no operator with unattractive odds will survive for long .
Customer service is also important . Bad customer service , in any industry , is a huge turn-off and bookmakers are no different . Customers need to feel those that take their bets are reachable and transparent . They need to feel they can reach their operator via a multitude of communications channels — email , chat , phone — across a range of languages .
Contact should be made as easy as possible for them , as should pay in and payout . And ultimately , as we all know , the customer is always right , so it may be prudent to comp or refund losing bets even when we are not convinced about their case .
The final piece of the puzzle is content . What content does an operator in today ’ s landscape need ? Let ’ s start with wide coverage . Bettors come from all manner of countries and backgrounds and they want to bet on a cornucopia of events . Gaps in coverage quite simply leave opportunities for rivals . Depth of coverage is the next factor : how many markets on those events are you able to offer to your customers ? If they are thinking , “ I wish I could put down an x bet on this match ”, and you don ’ t offer that , their eyes are likely to wander .
What about video streaming content ? It is not revolutionary to say that bettors prefer to bet on what they can see and follow , so what is the cost of being the operator that can ’ t offer that to your customer ? But there is other content that is perhaps less traditional : can you offer visually-arresting and built-for-betting virtual gaming ? Are you able to offer esports and world numbers services ? How about player props and mythical sports ?
Stimulation is critical to retention . Bettors by and large want to feel that their bets are educated and solid . Do you have the datadriven solutions that empower your customer to analyse and gain that critical piece of insight that can make all the difference ? All of these content elements make for a richer , multi-dimensional , stimulating betting environment and that , bluntly , leads to return customers .
The successful operator is the one that ensures each customer ’ s journey does not end with their last lost bet . While marketing initiatives can bring in new faces , astute operators know that this is the ‘ sugar ’ of the betting world . Real nourishment and fulfillment comes from providing a stable diet of efficient service , customer care and of course the engaging content and diversity that keeps customers informed , entertained and involved . This , ultimately , is what makes customers stay with your brand .
Michael Maerz is managing director betting for Betradar . Michael joined Sportradar in January 2015 and now oversees the development of Betradar ’ s two main product groups , life cycle of odds and live odds / live scouting . Betradar is setting the industry standard by offering more than 350,000 pre-match and 240,000 live events per year , servicing around 550 sports betting operators around the globe .
70 | iGamingBusiness | Issue 105 | July / August 2017