DETROIT – Nowadays, over a dozen states have legalized online sports betting in the U.S. Since these changes have taken place the market has expanded at a rapid rate, creating an industry with a value that could reach upwards of $40 billion in the next few years.
Clearly this means that more and more bookmakers and platforms are fighting for visibility online, attempting to grab the attention of both interested first-time bettors and long-term sports lovers. With all this considered, it’s a great time to take a look at an industry whose expansion and growth is largely due to its genius marketing strategies.
In this article we outline a few concrete lessons from the business of sports betting and the different aspects of marketing that people can learn from no matter what company they run or work for.
Customer Loyalty Is Often Gained Through Rewards
Online sports betting providers do a great job in two key areas of customer relations: retaining existing users and promoting activity among new ones. They do this by offering a variety of bonuses and discounts on their services. This powerful strategy is especially utilized as a way to virtually “welcome” first timers into the universe of sports betting online.
In states such as New Jersey, Colorado, and Pennsylvania that have regulated the activity in the digital environment, providers present deals tailor-made for new sign ups. For example, a DraftKings promo code is one of these, which is available as part of a welcome package and aims to attract new users to the scene. On the other hand, it’s also common for bookmakers to provide year-round discounted opportunities for their loyal customers as a means of eliminating competition in the same market.
Fruitful customer acquisition is possible when companies set themselves apart from the competition with special offers.
Mobile Optimization Is a Must If You Want to Expand
Aside from customer rewards, today’s digital bettors also desire the convenience of mobile platforms which take sports betting with them wherever they need to go. Another thing the industry has done quite well is work to optimize their services for mobile and tablet usage in addition to desktop navigation.
In this way, many of the most popular platforms of today are also fully equipped to serve their customers on-the-go. Oftentimes this one detail can make the difference in loads of business opportunity and potential growth. As the industry continues to adapt to the passage of new legislation, states will need to push more for mobile optimization if they want to expand their network of users.
Although this lesson may seem outdated in 2021, it remains true that digital is largely the future of any business across the board. If a company wants to remain relevant in these ever-developing times, at minimum they should have a strong mobile presence.
Nowadays, optimizing your business for mobile is practically a requirement for continued market growth.
Social Media Marketing is the Best Marketing
Social media marketing is undoubtedly a friend of mobile optimization. In fact, the two practically go hand in hand. Just think about it – what digital business that you know does not utilize social to get ahead in their market?
Nowadays, the likelihood that someone hears about your service through an application like Instagram or Facebook is much higher than it was even a couple of years ago. The fact is that many customers, regardless of age, are spending more time scrolling through their socials than they are browsing on their desktop computers.
This is why social media marketing is the best type of marketing. When we look to the sports betting industry, it’s clear that they do this well, with the top providers having well-developed social media pages for customers to access easily. What’s more is that quality content means more followers which results in raised awareness for the business.
Your Product Must Contain Variety to Stand Out
People are always looking for options within any service or product, especially when it comes to sports betting. When a sports enthusiast is braced with the task of choosing between over a dozen online providers in their state, they will most likely choose the one who has multiple sports over one that only offers betting on major leagues like the NFL or NBA, for example.
In every business, it’s important to remember that variety is synonymous with attractiveness as users will simply invest their time in a more appealing site if yours does not have what they are looking for.
This also goes for online casino sites. Those which provide hundreds of themed slot titles, table games, and live casino experiences are better set up to receive customer interaction than those whose offers are limited to classic games only.
This column was provide by Luke Windsor.
