Favbet: How Player Tripled Value

The Company

Favbet has been offering European sports gamblers new and innovative games and experiences since 1999. The company’s variety of games and cutting-edge technology have attracted over one million long-term customers who enjoy Favbet’s sports betting, live video coverage of matches, virtual sports betting, casino games, international lotteries and more.

The Challenge

Favbet’s CMO, Nik Rudenko, was looking for a solution with which to build a customer-centric approach to the company’s player marketing operation. Rudenko wanted to evolve the Favbet marketing team, which boasts some of the gaming industry’s leading retention experts, into being focused on a
marketing strategy that revolves around the individual customer. The goal was to create a loyal “player cult,” by automating the delivery of powerful, positive and personalized experiences for each individual player. Until adopting Optimove, Favbet was executing player communications manually, editing Excel tables, excluding segments, merging files from different sources and uploading lists to the email system. The company was in need of a sophisticated automation platform that would provide campaign execution, player segmentation, advanced analytics and machine learning (ML) capabilities to select the most relevant offers for every player.

The Optimove Solution

Under the management of CMO, Nik Rudenko, and Head of Digital, Alena Fesenko, the Favbet team used Optimove to amplify and automate the marketing team’s deep gaming retention knowledge by shifting from a manual, Excel-based approach to an optimized and automated system of mass personalized player communications. Optimove’s large-scale segmentation, predictive analytics and automation capabilities gave the Favbet team the opportunity to concentrate on working with granular segments on an automatic basis. This approach makes it possible to communicate the right message to the right customer via the right channel at the right time, thus avoiding general newsletters. Per-player churn prediction, conversion probability and future profit predictions are key metrics that allow Favbet to easily discover and target the segments that are most relevant from a business perspective. Within two years of deploying Optimove, Favbet’s marketers were communicating via more than 500 behavioral player microsegments!

“Optimove addressed all the issues I was looking to solve and offered us so much more,”
said Rudenko.

Every week, Favbet now sends personalized communications to an average of 50 segments, covering more than 150,000 players. Optimove makes it easy for Favbet marketers to explore their customer base, in order to discover and target new segments – and launch automated recurring campaigns with just a few clicks. The Favbet marketing team uses Optimove to test hundreds of hypotheses, ultimately selecting the most relevant offers for each player in the most appropriate period.

“Using powerful CRM automation in combination with a strong team provides amazing results. The use of over 140 player attributes across an endless number of experiments and detailed analytics gives us unlimited opportunities to improve the quality of service for our players,” 

said Rudenko.

Benefits by the Numbers

Favbet attributes the following year-over-year KPI improvements to the combination of a strong team plus the use of Optimove for managing personalized player communications:

• 200% increase in average average player LTV
• 90% increase in number of monthly active players
• 140% increase in in total deposit amount
• 255% increase in monthly revenue

“Since we first met Optimove in 2015, we knew that we wanted to work with this company. Despite having one of the strongest teams in the gaming industry, our player marketing success would not have been possible without Optimove. It’s like a Formula 1 race: no matter how good your driver, if the car is anything less than great, he’s got no chance. We now have a super driver in a super racecar!”— 

Nik Rudenko, Favbet CMO