What does User Retention mean to Online Casinos and Sports books?
User retention can be defined by comparing statistics of your long-term and short-term users.
Your long-term users are the most important, as they tend to spend more money over their life-cycle, but yet we still find companies who solely focus on User Acquisition via affiliate programs, which cut out a big portion of your revenue.
If you’re working in sales, you know that finding new ways of acquiring new users is always on the top of your mind. However many sales people are so focused on gaining new users that they effectively forget the importance of looking after and retaining the users they already have.
Here are 5 tips to increase customer retention:
1. Keeping your VIP Customers.
Study shows that 51% of customers switched companies due to poor customer service in the U.S. If you pay close attention you can always see signals of impending departure.
All you have to do is take a look at the purchase patterns, website usage & customer calls/chats. Create a list of all your VIP customers and their sales life cyles of the past 6-months. Here you will find those users who haven’t been active and are most likely giving their money to your competitors.
Communication is the key – Get in touch with your users, find out the reason and prevent them from leaving your business!
The more you know about your customers the more you can personalise your approach to each user. Your CRM software can help you understand the products your users enjoy the most and also the time they enjoy playing.
Sending a simple text message with an offer to attract them to use your website is one of the most effective methods of building customer loyalty to your brand.
Your CRM data can help you identify your most profitable clients. Set-up a budget for freebies and incentives and reward your most valuable clients to further increase their loyalty and develop a strategy for cross-selling.
4. Personalising your communication.
Personalising your communication cannot be understated. Using user preference and other information found in the CRM deliver a high impact in ROI.
5. Automate your communication tools.
In such a fast environment finding time for follow up calls or email can be quite a challenge. Autoemate your CRM to effectively communicate with your clients.