The global iGaming industry is expected to be worth more than $80 billion in 2022, as it continues to grow year on year by more than 10 percent. India is one of the core areas of growth, and both established casino and sports betting platforms and new gambling brands are targeting the Indian mobile gambling market.
Fighting over the pie
The iGaming customer base is growing rapidly in India, a country whose people have a fascination with technology, sport and gambling. iGaming is a perfect storm that captures all three. Nevertheless, the number of casino and sports betting platforms that are competing for a slice of the Indian iGaming market is growing even faster.
Today, if you want to bet on the cricket or play real money casino games, there are dozens of sites to choose from and, as the above Gamble Online resource shows, most of them are offering generous bonuses for new members. These are well and good for getting players through the door but do nothing to make them stay when the bonus has been burned out.
Customer loyalty is not what it once was. Even traditional businesses, from airlines to retailers, have to be proactive about giving customers a reason to stay loyal. In the online casino world, there is always a new casino operation appearing on the horizon offering a no deposit bonus or a pile of free spins.
Casino players know all about risk and return. If there is no reason to stay around once the good times have ended, you won’t see them for dust. The key for iGaming businesses to enjoy sustainable long term success is to keep loyal players and sports bettors on board. Quite simply, that means ensuring the good times do not end.
Many businesses are guilty of placing more priority on winning new business than retaining what they have. Insurance companies are a prime example, offering new customers superior rates to existing ones. However, with a “set it and forget it” annual policy renewal, many customers will simply accept the cost to avoid the hassle of switching. That’s not the case in the iGaming market, where the competition is louder and markets itself aggressively.
Points schemes and VIP programs
From supermarkets to airlines to coffee shops, points schemes keep customers on-brand. Casinos can and do offer these too, but it is important that they have obvious and tangible benefits.
Adding points whenever a player places a bet is fine as long as it is clear how these can be redeemed and what they will be worth. Customers are not stupid, if it takes two years to accumulate five free spins, that’s no loyalty incentive.
VIP rewards work well, again as long as they offer some real benefit. Special events and exclusive VIP-only tournaments are a good incentive.
Providing a great experience
Ultimately, however, iGaming businesses should not over-complicate their strategies. If the service they offer is top-notch, the platform works well and the games are enjoyable, the battle is half won.
Providing a great service used to be enough to ensure customer loyalty. Things are a little more complex today, but service quality is still the most important factor, and without it, all other efforts are futile. Perhaps things have not changed quite so much after all.