Read time 4 minutes
Forrester: Optimove’s Total Economic Impact
Why it matters:
Euro 2024, June 14th to July 14th, 2024, in Germany, represents a major opportunity for brands to attract and retain new players. Like every sporting mega event, Euro 2024 will attract a wave of new players. Understanding what makes new players tick and how to retain them will help operators drive growth.
Key takeaways:
New iGaming players, or casual players’ motivations, are grounded in the allure of excitement, global interest, and the prominence of big names in significant matches. To capture their interest, the event must surpass a certain excitement threshold, and the upcoming UEFA 2024 Euro, scheduled from June 14th to July 14th, 2024, in Germany, is not just a peak event; it’s a mega event with millions in the continent and around the world watching eagerly. It’s also a huge opportunity for operators.
We looked back at 2022 World Cup data to identify new player patterns and behaviors and identified five points:
The first thing operators should know is that they will come. During mega-events like the Euro 2024, a substantial number of first-time and reactivated depositors, typically a silent majority, emerge from the shadows and place a bet. This underscores the importance of directing efforts towards retaining and engaging these reactivated and new players, emphasizing strategies to encourage their continued participation.
In essence, during mega-events, many new players make small deposits. The key is to acquire a substantial share of these players, often available before the tournament.
As new, casual players bet smaller sums, naturally, the average deposit amount will be lower than average. But the more new players operators gather, the better the odds of nurturing them into high-value players. Operators also want to build reactivation plans based on past bettor behavior to bring back as many players as possible.
Reactivated players are often comprised of untapped casual players from previous major events. Like new players, this group presents a significant opportunity to rekindle their activity and engagement.
Optimove data shows that new players placing their second bet are X2 as likely to be retained as one-timers. So, it’s imperative to identify these players and create a dedicated marketing segment, break it down into personas, and ensure consistent engagement.
Promoting bets involving players’ national teams is an effective strategy to increase their involvement. In the absence or elimination of their national team, cultivating “adoptive teams” becomes crucial to sustaining activity.
Leverage gamification, such as offering a free bet for engaging in all national team matches and monitor player engagement through metrics like logins and email openings. This holistic approach ensures a proactive stance in retaining and boosting player activity.
New players tend to churn quickly post-mega event, historically marked by a 25% lower retention rate. The rationale behind this lies in their casual betting inclination, joining the betting bandwagon temporarily.
Despite the anticipated drop, a substantial opportunity remains. To enhance retention, a strategic approach involves linking the recently watched tournament to bets on national leagues, maintaining engagement during the interim period.
For instance, the Paris 2024 Olympic Games will begin days after the Euro 2024 final. The goal should be to use Euro 2024, while operators still have their attention, to entice players to place a bet on the Olympic Games.
New players will arrive, they will bet small amounts, and start heading for the exit. With the right strategy, operators can be at the exit gate with just the right offer and turn them into active, lifelong players.
With a deeper understanding of potential new players, it’s clear why this segment is a prime marketing opportunity for operators in the upcoming Euro 2024.
For more insights on Optimove and Opti-X, request a demo.
Forrester: Optimove’s Total Economic Impact
The Forrester Total Economic Impact™ Study shows that Optimove’s Positionless Marketing Platform drives an 88% boost in campaign efficiency.
Writers in the Optimove Team include marketing, R&D, product, data science, customer success, and technology experts who were instrumental in the creation of Positionless Marketing, a movement enabling marketers to do anything, and be everything.
Optimove’s leaders’ diverse expertise and real-world experience provide expert commentary and insight into proven and leading-edge marketing practices and trends.
