Optimove’s iGaming Pulse, a benchmarking tool tailored for the iGaming industry, provides operators with valuable insights into the aftermath of March Madness. The benchmark in focus in this article serves as a crucial reminder of the importance of investing in post-peak-event retention strategies. By leveraging these strategies, operators can effectively boost retention and engagement rates among new players.
The Big Picture:
Optimove’s iGaming Pulse is a unique industry benchmark tool empowering operators with daily access to industry-wide benchmarks, KPIs and visibility into the performance of the rest of the industry.
In April, the Pulse detected a rise in new players’ retention rates underscoring the importance of post peak event engagement strategies for operators.
New players are quick to churn following peak sporting events; the ability to retain them is a key ingredient in operators’ growth strategy.
March Madness, similar to other peak sporting events, saw an expected spike in First-Time Depositors (FTDs or New Players). In April, as the dust settled on the tournament Optimove’s iGaming Pulse tool recorded an increase in the Retention Rate of new players in the US compared to the Rest of the World.
Forty-two percent (42%) of players who made their first deposit during March remained active in April. This marks an increase of +10% in New Player retention compared to March.
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Why is this happening?
The final stages of March Madness extended into April, with ten men’s and women’s games maintaining the hype and keeping the excitement alive. This continuity likely encouraged New Players to stay engaged and continue placing bets on the tournament.
Moreover, the 42% retention rate suggests that smart operators effectively leveraged the momentum generated during March Madness with personalized marketing strategies, enticing offers, and enhanced user experiences. As the tournament ended, personalized player treatment played an even more significant role in converting First-Time Depositors into regular players.
The appeal of peak sporting events creates a window of opportunity for operators to capture and retain new players with the following actions:
Post-event campaigns: Capitalize on the excitement generated by peak sporting events like March Madness by seamlessly transitioning your marketing efforts to promote upcoming events. Use targeted campaigns and promotions to keep new players engaged and excited about the next big event, ensuring continuous activity on your platform.
Personalized player experiences: Use player data to craft tailored campaigns that resonate with each individual player’s interests and behavior. Tools like Opti-X, Optimove’s Digital Experience Platform (DXP) help operators engage players with personalized experiences through content and product recommendations based on their persona and behavior.
Continuous player engagement: Keep new players engaged beyond the event by offering ongoing promotions, bonuses, and exclusive rewards. Regular communication and incentives maintain interest and encourage repeat visits.
Ongoing data analysis: Continuously analyze player data to identify emerging trends and patterns, allowing for proactive adjustments to strategies aimed at retaining players.
In summary
March Madness, like other peak sporting events, are prime time for operators to engage new players and keep them coming back for more.
Guy Leshno, a seasoned PR and Communications professional, with a successful track record in leading PR strategies and projects in emerging startups. With over a decade of experience, his expertise lies in blending creative ideation, analytics, and expert writing capabilities, driving brand awareness, and improving sales.
