How to Improve Your Brand's Growth if You are in the Gambling Industry
Growing the brand should be one of the primary focuses of the company, especially in an industry as competitive as the online Gambling Industry.
Any business will tell you that to succeed, you need to market your products and services. No matter what industry you're in, your brand is the strongest selling point of your business. Growing that brand should be one of the primary focuses of the company, especially in an industry as competitive as the online Gambling Industry.
The Gambling Industry is Booming
The growth figures for the gambling industry are astounding. The online gaming market alone is predicted to be worth almost $60 billion in 2020. Players still visit traditional on-site casinos, but the online market is quickly overtaking the live casinos.
In the U.K., figures show that around 33% of all gamblers gamble online. Operators need to grow their brands on both fronts and take advantage of the online and offline players.
Traditional marketers are taught to focus on the 4P's to build on a brand. Product, Place, Promotion, and Price is the marketing mix that was used to create a solid brand in past years.
Even though this is still a vital launching pad for a good online gambling marketing strategy, in today's modern society marketers should look at the updated S.A.V.E. framework:
The gambling industry needs to shift its focus to provide solutions instead of just products, focus on access not only place, value instead of price, and education. To put this into perspective, have a look at this example.
Since gambling is moving more into the online arena, operators can offer mobile access to their casino games. To give access to players, the casinos need to ensure that the mobile casinos offer and IOS and Android compatible platform. By providing great cashback bonuses and free spin promotions, they are creating value for money product.
An added feature would be teaching players how to play certain online games, such as poker, and using the online services correctly. It might seem a bit daunting, but there are professional marketing companies out there that operators can contact, like our gambling expert from Scanteam.
Ways to Make the Strategy Work
The above strategy works well, only if this is communicated to the player or final user of the product. The marketing environment has changed drastically with all sorts of new ways to reach consumers.
We explore marketing and how to promote an online gambling website. I'm an expert, Alex Lysak, and l can confirm that any brand that wants to grow needs to consider the advertising options below.
There is no denying that social media has literally taken over people's lives. It's difficult to envision a world without the likes of Facebook, Instagram, Twitter, and Snapchat. Building a brand has to include these platforms as part of the advertising portfolio.
These platforms offer advertisers the tools to segment and pick target markets to match their offers.
This is a perfect way for gambling operators to choose their audiences and promote specific services to a niche market. For example, sportsbook operators might run a campaign to promote their horse-betting facilities while using the Ascot Cup as leverage.
They will be able to select punters who show interest in such activities and exclude other gamblers such as eSports enthusiasts. It allows for better use of the marketing budget.
Blogging is becoming the go-to place for consumers to read up on information that is presented from an unbiased perspective. Even though the mainstream media offers a lot of information, specialized blogs are becoming more popular.
It has to do with trust; many consumers don't trust large corporations but will believe the opinion of an individual who has tested the product or service.
Nothing beats watching a live video of a product or service, where consumers can see it in action. The same goes for the gambling industry. Players enjoy watching videos of how a game works or an instructional video of how to play poker online.
People are bombarded daily with all sorts of media. If the gambling industry hopes to stand out, it needs to become innovative in the way it presents itself to players.
The power of social influencers is growing. Many companies are using the social clout of social celebrities and experiencing a significant boost in business.
This can work hand in hand with the video strategy as many of these influencers have youtube channels with thousands of followers. What they say can turn a brand to gold or burn it to the ground.
Consider the eSports industry. You just need to type it into the YouTube search bar to see the sheer volume of videos that appear.
The critical thing to remember here is to align the brand with the correct influencer. It won't be as beneficial to get a gamer to review an online slot game if that influencer's market doesn't include people who gamble.
Even though the entire world is going digital, there are still some segments of the market that are not quite there yet. Older generations are still more biased towards SMS communication and emails. The gambling industry has customers that would probably fall into that category and need to consider these methods to build brand awareness.
Encouraging players to sign-up for email communication allows operators to send through information on promotions and special events. This builds brand awareness over time and eventually will hopefully lead to paid consumers.
Marketing in the casino industry and building a brand in today's society is tough going. Trying to get through the constant marketing noise that all consumers get bombarded with is no small feat. The gambling industry is also undergoing significant changes that see it moving more into the online space.
Gambling operators need to take the time to formulate a marketing strategy for each segment of its market if they hope to build a brand in gamblers’ minds. The focus shouldn't only be on building brand awareness, but also keeping that brand always in the thoughts of players.