Savvy casino marketers are starting to recognize that the third phase of player lifecycle-based marketing strategy provides the most untapped opportunity to boost revenue and market share to date. Stepping into new territory can be daunting, and at Gaming Analytics we want to set you up to succeed in the easiest way possible. Read on for three easy steps to create a retention-focused marketing campaign or promotion.
1. Understand Your Past Customers
In order to develop a strategy to retain players who haven’t churned yet, you need to understand your customers who are churning today. Who is churning? Which segments are churning and at what rates? Which segments have the highest concentration, value, and response index to promotional activities? How many players are reactivating on their own? How do those demographics shift when weighting rates by a value measure, like LTV?
2. Target the Right Customers
Target your high-value, high-risk customers. Make sure you can identify these customers ahead of time, before they’ve made the decision to disengage with your brand. Plan a retention-focused promotion, record what you do and track your results.
3. Evaluate the Results
Evaluate the results of your promotion. Use the right metrics against the right baselines to make sure you’re calculating the true ROI and not just making numbers up that look nice. More often than not we’ve found the real ROI is even more impressive.
With these three steps, you’ll soon have a replicable, measurable retention strategy that pulls in more visits for less investment. If you’re sifting through mountains of disorganized data, trying to make sense of churn rates and value measures, you may need a new analytics tool. With our casino gaming analytics product, Gaming Analytics makes it easy to execute these three steps to retain your player base. If you would like to learn more about creating a retention strategy that works, give us a call at (702) 355-5377 or email firstname.lastname@example.org.