One of the biggest industries in the world at the moment is the casino industry, both physical and online, and is worth more than $227 billion, and growing. Many would think that it is by happenstance or luck, and simply credit it to the fact that people have been gambling since the idea of chance was understood.
The main reason why the industry excels, and why the profits have been increasing year after year is due to the fact that it has basically mastered the art of marketing.
The casino industry uses the most effective marketing strategies to reach as many people as possible and has a high conversion rate. Any business could learn from the casino industry, and these are some of the marketing strategies casinos are using to gain exponentially more customers.
It is very difficult to walk anywhere anymore and not see someone with a mobile device, which is not surprising, since half of the world’s population uses mobile phones. The steady increase of usage is obviously great for all industries, but the casino industry was the first to capitalize on this all the way back in 2004.
Today, almost every online casino offers mobile-friendly services to appeal to the most amount of people, such as a wide variety of games, as many people don’t have laptops or desktop computers. Most players aren’t sure which casinos offer these services, which is why reading reviews is important. Sites like Manekineko Casino often review casinos, and recently reviewed Joycasino Online Casino which offers over 500 games for mobile devices, to read the review, visit website here. Another benefit of going mobile is that mobile devices use push notifications, which means that any promotional email sent will be seen.
One of the things that traditional casinos are most famous for is giving comps, or otherwise known as complimentary rewards, to their customers. Not only does this make their customers feel appreciated, it encourages them to come back for more. In addition to this, traditional casinos also have VIP programs that reward their patrons with lavish gifts, most commonly travel packages.
Online casinos have followed suit by providing various welcome bonuses to new users, as well as the abovementioned VIP programs. In other words, because of the fact that people love free stuff, they are much more willing to spend some money if they are getting something extra in return.
Back in the day, it would have been acceptable for businesses to only have about 2 payment methods, but in today’s day and age, that will surely result in a lack of sales. This is something that the casino industry realized very early, which is why many online casinos strive to offer as many payment methods as possible.
By increasing their range of payment methods, online casinos have drastically widened their audience, even to countries where gambling is illegal. This was possible through the introduction of Bitcoin and various other cryptocurrencies. The casino industry has made it possible for essentially as many people to pay as possible while adding convenience and providing different deposit and withdrawal times.
The proper use of analytics
It is easy to say that the cause of the casino industries success is merely due to the fact that people love to gamble, but this would be downplaying a critical thing that the industry does. That thing is the proper use of analytics, which is something that the casino relies heavily on in order to prosper. Using analytics has allowed the casino industry to sell the correct products, introduce the correct technology and the right times and make the correct decisions.
For example, this is how they knew when to move to mobile devices, and why they are introducing different games that borrow elements from video games; because the target market has changed, which is only known through analytics.
Researching the competition
In order for an online casino to survive, it needs to know exactly what it is that the most successful online casinos are doing. This is because trends in the industry can change really quickly, and the most successful casinos are obviously doing the right thing. This can be anything from monitoring what game or feature was introduced that lead to a spike in visitors or profit, or what payment method was added which was followed by an increase in profits. This research will allow casinos, both physical and online, to construct a marketing strategy with a formula that has been proved to work, which saves time and money from creating one that would be a shot in the dark.