Increasing customer lifetime value
18 December 2018
Customer retention is a constant challenge for operators, so what can they do to overcome that? It’s not always enough to entice them with promotions, especially when they can encounter obstacles in their user journey. To stay ahead of the competition, operators need to be constantly reviewing the customer experience of their product, focusing on key user journeys to help maintain brand loyalty and a growing customer base.
The principle of user experience is offering customers the easiest and clearest ways of achieving their goals. In gaming, the users’ main intention is logging in/registering, placing a bet or playing a game. This means the journey needs to be as effortless as possible, with the aim to always drive users back to the product.
Keep up the good form
As punters tend to switch between operators for a better sign up deal, brand loyalty needs to begin at the registration stage to demonstrate the incentives by signing up to the brand. This is likely to be the first step to acquiring a customer and it needs to be a very simple process, even if they are still asked to provide detailed information as part of KYC requirements.
Operators can experience substantial growth by continuously reviewing and updating their registration forms. They can implement analytics tools to monitor user behaviour, which provide a good indication of where drop offs often happen and if users experience any difficulties that make them abandon the form. This is actionable data and the best way to identify further improvements. Forms should be ever-evolving and operators need to be constantly analysing them to understand what they need to improve in the customer journey.
Create personalised communication
Another way of extending customer lifetime value is by sending push notifications to customers and a giving them access to a rich inbox for marketing messages within the website/app. These can be used to communicate promotions, new features and news, resulting in increased revenue and spend. Supporting these promotions with contextual ads across social media could also help to engage users without using the products. In this case, personalisation is key to making the customer feel valued and interested in these messages. Offering relevant content, getting the timing and context right can really help grow user engagement. These tactics are not too intrusive, but the customer notices them. These messages are also fundamental to reducing player churn and winning back lapsed players.
Level up with the customer
It is also worth considering adding interactive onboarding features or simple games to create a fun and engaging experience for customers. Implementing certain gamification elements can keep them playing for longer and encourage them to return.This can be done by taking into account the level of the user, e.g. average spend, winnings or losses. Based on this, operators can create different thresholds or achievements to reward customers and encourage them to play more to reach the next level. This will create a positive experience whilst enabling customers to try out new products that they might not usually play. Subsequently, this increases player lifetime value for the operator.
Track real-time data
It takes extensive planning and development, as well as a solid customer strategy to ensure all these features are in place. Operators need to ensure that any communication with the customer is in sync with their actions on-site. This can be done by using data analytics to track user patterns to customise offers and bonuses, as well as quickly responding to their actions around key events. This is why it’s essential to invest in business intelligence systems to ensure all this data can be processed and analysed as efficiently as possible for daily operations.
Using data streaming to track real-time events allows quicker processing of smaller bits of data and enables the business to respond to the events taking place on-site. This can include capitalising on customer behaviour by offering new bonuses, creating customisable content, sending out tailored messages, as well as preventing fraudulent activity and problem gamblers. Having a robust business intelligence can further help to develop machine learning systems to process this data automatically and help different departments utilise it efficiently.
Operators need to be constantly reviewing their online gaming products to meet customer demand and trends. Using A/B testing, analytics to improve and implement engaging features can really help towards extending the lifetime value of the customer and and maximising spend. It’s important to test different points of conversion, such as the registration form, rich inbox or account section, ensuring they meet the customers’ needs and provide a seamless user experience. While innovation can attract new customers, it’s critical to make sure these additions fit within existing products and meet the expectations of loyal customers and addressing the reasons why they engage with the product in the first place.