igamingbusiness . com
TECH AND INNOVATION
“ useful ” machine learning , while artificial intelligence , of course , has been around for many years already .
With the rise of ChatGPT and the like , almost everybody gets the chance to experience how powerful these tools can be in our daily operations . We ’ re at a distinctive point in time where machine learning is not only here to stay but will become part of our daily lives .
On the other hand , the need for improved retention strategies has been growing due to increasing competition , rising costs of user acquisition and ever evolving complexity in regulatory frameworks . Attracting new players is just one part of the equation – retaining existing players is equally crucial for sustained profitability and growth . Technology also offers multiple tools to enhance player retention – for example , using AI and machine learning .
As almost every new technology creates some disruption , adapting to new ways of work and making use of AI and machine learning will also be crucial for our industry . From my point of view , being open-minded and embracing change is essential . But in order to achieve this you first need to identify your use cases . You shouldn ’ t implement a new technology just for the sake of it .
LOOKING FOR INSPIRATION
I would always start off with a small proof-of-concept project to understand the benefits any new tool or solution could bring to my business . Look for low-hanging fruit , which often are some of the biggest pain points , and work on those primarily . In the case of retention optimisation , this could be issues such as “ Who are my players at high risk of churn ?” or “ Which players just come for the free spins ?”.
Once you have identified those pain points , run your first test campaigns – always against a control group – with the engagement methods you already have in place . If the first results are good , use them to gain recognition for this new approach within your organisation . Take it from there and add additional use cases whenever feasible .
Based on the fact that customer expectations are getting more and more complex , our industry – like almost any other industry – has to rethink its engagement and retention strategies . Personalised offers are already standing out in the market . Therefore , not adapting will leave your brand behind .
I also see parts of the CRM processes changing ; these segments are a very helpful tool for us to visualise and understand large sets of data . At the same time the average , even within well-defined segments , is the enemy of personalisation .
To identify areas in which the igaming industry can improve its engagement and retention strategies , it ’ s always worth looking for new digital standards introduced by big technology brands in other industries to keep up with change .
Industries such as ecommerce , fintech and mobile app development are particularly noteworthy for their digital innovation and can serve as sources of inspiration for the gambling industry .
THE FUTURE IS AUTO-CRM
One common mistake we see in the market is going too fast for a big onesize-fits-all solution , which usually takes too long to implement and configure in a way that is useful for the people dealing with it in daily operation . Instead , I ’ d recommend a modular , easy-to-connect approach to keep the whole structure flexible , fast and well-equipped for the future .
This might sound quite complicated , but when you get it right , the payoff is endless . Golden Whale specialises in delivering highly personalised gaming
“ A machine will never invent a new campaign or product feature ; ideation will continue to be in excellent hands with humans ”
14 • ISSUE 136 • iGB L ! VE 2024