Carpe Data: Why Real-Time is the Only Way Forward
Slow data is the knowledgeable expert that identifies patterns and makes decisions based on historical information. But by adding fast data to the mix, you can create a truly effective marketing strategy - one that continually adapts to player needs and treats them like individuals. Here are a couple of use cases to illustrate the point …
Bottom line? It’s time to combine slow data – historical and batch, and fast data – that real-time, in-the-moment gold dust. For iGaming operators, that is the way to deliver a real-time personalized experience that players love, ultimately elevating engagement and boosting conversions.
When it comes to delivering the optimal player experience, data is everything. Slow data – historical and batch – provides Operators with a broad perspective on player behavior and trends and gives marketers the foundations to build out scheduled campaigns. So far, so reliable, right?
But as every marketer knows, you can’t grow a business on historical data alone. Fast data – that real-time, in-the-moment gold dust – is the ultimate rocket fuel. It allows you to monitor player actions, preferences, and gameplay in real time to ship personalized offers, promotions, and messaging that reaches your customers at exactly the right moment – and hit the bullseye every time.
But not all players are created equally.
Newly registered players that you want to convert as quickly as possible, players who started a bet and then abandoned it, churned players who have just logged in after months of inactivity – all of them will have different histories with your brand. So should you treat each of these segments with a blanket approach? In the case of the newly registered player, is an incentive campaign really the best treatment for every player? Wouldn’t that harm your NGR, especially when many of those players might convert anyway? And what about that long-ago churned player that just logged in? Should you ship the same campaign to each one? Some of these players will have a higher value than others …
Bottom line? It’s time to combine.
When we analyze player data, we’ve repeatedly seen that it’s only through a combination of fast and slow data that operators can deliver the personalized experience that players love, ultimately elevating engagement and boosting conversions.
Let’s look at one of our use cases to illustrate the point.
New player registration – a use case
Looking at our data, on day one of player registration, we can see that two-thirds of players who convert do so on the day of registration. We also see that around 50% of day-one depositors deposit within the first 20 minutes,
With this information in mind, we recommend our clients send out a ‘first-day deposit’ campaign encouraging first deposits by players. We do this by deploying a complex trigger-based campaign that considers whether or not the user completed the registration.
And to prevent what we mentioned earlier – the negative impact on NGR by sending bonuses to everybody via a scheduled campaign – we’d recommend only shipping this campaign if a second trigger has been set where no deposit has been made in the first 20 minutes (and of course, that window of time can be adjusted based on the Operator’s specific player base).
The more important thing here is that we’re aiming to minimize the impact on resources by not sending the FDD campaign to all newly registered players while trying to maximize our reach to those that wouldn’t have converted on the first day; that perfect fast/slow data combination in action that’s ultimately helping to mitigate overspend, and optimize conversions.
So how might this combination of fast and slow data look in an optimized FTD journey?
The customer journey using a fast/slow hybrid approach
In this example, at the start of the customer journey, we’d deploy those tried and tested scheduled welcome campaigns based on historical player data.
Mid-journey, we’d ship triggered experience-based campaigns. At the end of the journey, the churn prevention campaigns would kick in, deep insights from historical data harmonizing with real-time responsiveness, ensuring players always receive relevant, valuable messaging that keeps them close.
So there we have it! By harnessing the power of both slow and fast data, you create a marketing strategy that seamlessly blends historical insights with real-time adaptability. You’ll be able to anticipate players’ changing needs and behaviors, ensure that they always receive the most valuable, relevant messaging, and focus spending where it really needs to be.