It has been demonstrated that predicting the churn rate not only reduces the number of players leaving the casino website, but also significantly lengthens their time there. In this article, we’ll examine various methods for calculating the player churn rate in online casinos as well as strategies for keeping players. Churn rate is the proportion of players who stop playing and leave your casino over a predetermined time frame.
You can anticipate the potential churn rate in advance by outlining the reasons why players leave in detail. When patrons of an online casino lose interest in the company’s offerings, they typically stop playing there. Consequently, each operator’s objective is to raise the level of
How can you calculate the churn rate?
By utilizing the currently available methods and CRM-strategies, you can not only retain active players but also significantly lower the churn rate. The formula to determine the player churn rate is as follows: Churn rate is calculated as follows: Players at the beginning / Players who have left Some businesses measure the player exodus as the cash equivalent of the profit they might have made if the players had stayed. The churn rate would then be calculated using the following formula: Revenue churn rate is calculated as follows: Number of inactive players x Monthly Average Revenue x Monthly Payments
A Plan of Action to Reduce Turnover
Discover the cause
Identify the key triggers in advance to avoid player churn. You can identify what your website lacks and what can be changed or improved by conducting surveys and talking to your players.
Provide variety
Any reputable software developer should provide a wide selection of games for any online casino. Additionally, you should always strive to update and complement it. This retention initiative aids in lowering the churn rate.
Why are you unique?
Find out what distinguishes your business from other gambling platforms and what makes it special. Your players will always consider choosing you as their first choice when they want to play if you provide something that other operators don’t.
Become Active
Here, you must develop the ability to look ahead. In other words, you need to foresee every problem that your players might encounter. Before your players ask questions, respond to them. Any interaction with your players will raise their awareness of your brand. So communicate with them and let them know about the newest features, innovations, and products.
Retargeting, email newsletters, content marketing, new products and services, gambling content extension, commenting, promotions, and tournaments are just a few of the marketing strategies that can bring churned players back to the site. Put some effort into establishing previous player accounts. The best course of action would be to send a reactivation letter to check on the client’s current status. There is still an outcome if the player reacts to the message.
bringing everything together
If you don’t have the right equipment for the job, it will take a lot of work to accomplish all of this. The tools you need to make smart business decisions are already included in the GamingSoft Global iGaming White Label solution or the FAFABETSGAMING Connect iGaming API solution. This gives you access to detailed information about your players’ motivations and how to keep them playing.
User encounter
inadequate player support. The most important division in your business is probably the one that deals with customers. Its job is to interact with players directly in order to resolve issues and give customers a sense of care. Support is available to ensure that everything goes smoothly and quickly and to reassure customers that it is fun and safe to return. Your players will stop using this service if it is slow, rude, ineffective, or unprofessional.
Search and navigation tools are inadequate.
Players shouldn’t have to scroll for an eternity to find the game they’re looking for, so making browsing simple is crucial. It’s best to offer a simple layout and tools like a search box or a navigation bar.
incorrect bonus computation
If you promise bonuses to players, they must be accurately calculated and distributed on schedule. Players churn if they don’t receive what they were promised, and it’s very unlikely to win them back.
provide a variety of games
Any online casino should offer a large selection of games from renowned software producers. Additionally, you should continually improve your catalog by including titles that are well-liked in your industry, adhering to the scheduled releases of your suppliers, and diversifying your offer as much as you can. This retention initiative aids in lowering the churn rate.
Be different from the competition.
Take your product to the next level by understanding what makes it distinctive. You can expand your selection of games to include live dealer options, hold contests, give out generous bonuses, or set up a rewards program.
Continue to be proactive.
You must develop the ability to anticipate problems that your players might experience and come up with solutions for them before they become bigger problems. Any interaction with your players will raise their awareness of your brand. You should anticipate their questions and communicate effectively with them, sharing the most recent updates, features, and product enhancements.
Reacquisition: The winning-back strategy of online casinos
Operators typically offer bonuses and enhance their services and goods to win back players’ trust and encourage them to play at their online casino again. It is important to note that combining these two win-back tactics yields the best immediate results; however, players who are reactivated in this manner are unlikely to stick around for very long. On the other hand, utilizing just one of these strategies improves the second lifetime of the reacquired users while lowering the win-back rate. Another thing to keep in mind when trying to win back churned players is that the caliber of their initial experience is crucial to your efforts. Regardless of the reasons they left the platform, reactivation would be much simpler if their initial experience had
