Retained or loyal customers are more valuable than newly acquired customers multiple times over. Businesses that constantly pursue new customers eventually find the end of the road, while those who seek to grow and retain a reliable consumer base flourish in the long term, as even a five percent retention increase can pump up profits by at least 25 percent over time.
Of course, marketing efforts that get people through the door in the first place are still essential. It’s just that once through the door, those new customers can expect to hope that the good times will keep rolling and that their choice has been validated. In a very sophisticated market for promotions and the like, iGaming, the roadmap to getting and retaining customers has been laid out.
Promotions and Offers to Acquire and Retain
The formula in iGaming is to offer a bonus that new players can use to extend their initial experience, but then to run a series of promotions and additional ways to claim bonuses that are worth checking in on. The promotions space in this industry is so fiercely competitive that those who want to get to the top have to present a whole series of offers that can, as a whole, appeal to just about any gaming preference.
The online casino bonus page opens with a 100 per cent match of up to a £100 deposit with 100 free spins added on to use on some of the platform’s top games. From there, at the time of writing, account holders can come back to play Find The Golden Ace, win randomly triggered extra prizes, claim daily free spins, get free play on slingo daily, and tap into reload bonuses, which give back a percentage of a set amount staked on select games.
It’s a showcase of what players get both for giving the platform a go and that bonuses aren’t just for newcomers. Without explicitly being a loyalty scheme, it works to encourage customer loyalty. People will come to play their favourite games knowing that, from time to time, those games will be tied into an offer that could add more ways to win. Rotating these events and bonuses further creates a sense of renewed rewards for loyal players.
Perpetuity of Benefits Continues to Sell the Best
To take an example from another arena that’s competitive in promotions, credit cards often give new and converting customers significant perks. Cashback, travel points, cash up front, and uncapped credit limits are all regularly in focus in marketing for credit cards. However, the main selling point, as was found through surveys, actually ended up being the better interest rates, likely because this has a much longer-term impact.
Upfront perks and bonuses are welcomed, but not the main selling point. People want that good deal for much more than their opening session. This is why businesses that aren’t pure services like credit cards turn to loyalty programs. It’s been found that even paid loyalty programs, like Prime, will see customers spend as much as 60 per cent more than others. Plus, loyalty programs in general make shoppers 85 per cent more likely to return.
Businesses looking to compete with promotions, bonuses, and offers should always keep in mind that, while welcome offers can get customers through the door, it’s boosts for loyal customers that’ll raise that bottom line.