Bet on Your New Players the Right Way
Sports are coming back! Start netting some goals by increasing the value of your new sports bettors. Here are two examples of best practices to follow at this time (with another 4 to download.)
Great opportunities come to those who are ready to win. Champion sports betting operators know that every game counts, and your CRM strategies should already be put in place to kick off a successful season.
With the predicted average future value of repeat bettors being 3X higher than that of one-timers, a sport bettor’s first couple of weeks of experience with your brand are critical for long-term relationships and revenue.
Also – most players will never deposit or bet again following their first time (for some operators, this might be as high as 70%), unless your marketing team is prepped with a personalized CRM strategy.
Sounds like a losing game? Well, there’s more than just some hope.
Today, we’ll show you a couple of best-practices-based methodologies that can be easily implemented with Optimove to get the ball in your court.
If you want even more, you can download the full marketing plan and more methodologies here.
#1 Deposits and In-Play Activity Personalization
Optimove research shows that players who place most of their bets during live games (called “in-play” bets) are worth 2.1X more in terms of lifetime value, than players who mostly bet before games begin (“pre-game” bets).
You can use this insight to your advantage by creating three different campaigns to be sent to three different segments of new players on the day after each player’s first deposit:
Treating each player right – according to their wagering history and time spent with you – is a great way to win over your CRM promotions.
#2 Play Experience Personalization
The more personal you get, the more wagering!
For example, one sports betting brand scheduled a campaign for five days after the first deposit was made by players. It offered individual player incentives based on each one’s playing experience (whether it was a good or bad one).
It was measured by the player’s payout ratio: the total amount won divided by the total amount wagered. Optimove can automatically calculate this ratio for you so you can automatically segment players accordingly.
Best practices recommend segmenting players into three groups, according to this ratio, and then providing messaging, and incentives designed to encourage the relevant desired action for each group. See below:
In an arena characterized by increasing competition, declining customer loyalty, and rapidly escalating customer acquisition costs – it is crucial that online sports betting operators maximize the value of the new players that arrive at their websites.
With Optimove, you can analyze player data and put in place best-practices-based methodologies to improve the overall performance of your CRM campaigns. Read part 2 here on the Best of sports betting campaigns.