USING DATA FOR PERSONALIZATION TO RETAIN THE EUROPEAN PLAYER
By Davide Ruggeri, Head of BtoBet’s Sports Division
As acquisition costs for new punters are constantly on the rise, and challenges with churn persist, it is no wonder that the industry is gradually manifesting an increasing shift in the operators’ efforts towards retaining their existing fold of players. But whilst other enternatinment industries have could be deemed as adopting examplary approaches towards tackling this issue, the iGaming industry has somehow still been left lagging behind. And essentially it all boils down to the ineffictiveness of placing the player at the heart of the whole user experience.
Only now are certain operators realising that to be able to compete in a highly competitive industry, it is important to understand the customers and their demands. And considering that the vast majority of betting sites offer essentially the same markets, betting odds, and winning characterizations this has become even more essential.
It has clearly emerged that data driven decisions have become crucial in creating a more tailored and personalized betting experience, maximising the player lifecycle and mitigating the risk of operators losing their players to rival brands.
There is no better way to annoy players more than an inefficient betting experience. Each punter is presented with a plethora of odds and events, but only a few distinct offers really instil the bettor’s interest to effectively engage him. Thus operators must have at their disposal an ‘intelligent’ betting platform that is able to harness and assimilate enough data based on the activity to be able to put the player in different segments and recommend events accordingly. One should keep in mind that the betting pattern of a single player might morph and change throughout the whole course of the week. A player might be interested in placing bets during the week, whilst reverting to his preferred football betting accumulators during the weekend. Thus the recemmended events should follow suite in his betting pattern to optimise and simplify the overall individual user experience.
Essentially each player expects to be treated in a unique way. There is no single and predefined character profile that applies to all players.
Needless to say, the better use of data is set to become quintessential for all companies in the sports betting industry from the immediate to the long term. Only once all operators start making use of this data in an appropriate manner can the end user be positively impacted on a micro-level. With the acquisition of new players becoming increasingly difficult, now is the time for operators to determine whether or not they are technologically capable to deliver a personalised UX on an individual level enabling them to properly focus their efforts on player retention.