Balance your player acquisition & retention with bonuses

Balance your player acquisition & retention with bonuses

The gamers are what provide your firm value in any B2C iGaming venture. The most crucial component you require to grow your business is an increasing number of active players, which can be achieved through constantly recruiting new players and retaining current ones.

The number of new players joining your casino is known as player acquisition. This is often gauged by new sign-ups who deposit in the iGaming sector. It’s a simple objective, but in the fiercely competitive iGaming industry, you have to think outside the box to accomplish it. Your go-to strategy for attracting new gamers is typically an attractive welcome package. Players need a reason to try you out because they might need to be more familiar with what you offer.

Which bonus types should you run?

If well-designed, bonuses can be helpful tools for your players throughout their careers. First off, your bonus strategy should be aggressive when you need to attract potential gamers’ interest. When choosing a welcome bonus, be sure to consider the competitors’ offers as well. You must compare your brand to others, just as your prospective gamers will.

Here are some pointers to assist you in determining how you compare to your rivals:

  • Look at local gambling review websites and reputable welcome offers
  • Since word-of-mouth marketing is effective, it’s essential to monitor iGaming forums.
  • Ensure your affiliate marketing strategy is solid; affiliate endorsement combined with the right incentives can work wonders.

Armed with this knowledge, you can offer many free spins (or free bets for sports), a cash bonus, or a combination of both by putting together a welcome package. However you do it, make sure you still make money by matching their allure with controls against bonus abuse. The basic tenet is to balance attracting players and to deter bonus abusers. click here

How are bonus amounts determined?

Based on your business data, you should determine the welcome offers you can afford to make to new players. Making your projections based on the average lifetime value (LTV) is one way to go about it.

Does the LTV exceed your expenses? If so, fantastic! Next, if you consider every source of the traffic to your website, is this still the case? Is the LTV of referrals from affiliate X, for instance, sufficient to justify the bonus costs, affiliate X’s commission, and all other smaller associated costs? If not, that affiliate will send you traffic but not money.

Find a strategy that is reasonable for you.

It is also crucial to establish the criteria for player reactivation that make sense for you, including how long has passed since a player’s last wager or deposit, which inactive players should be the focus of a reactivation campaign, and the most effective timing for doing so.

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