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Nothing is more efficient in attracting as well as keeping a customer more than a good rewards programme. It’s the perfect win-win situation, beneficial to you, as well as your users. These programmes significantly improve brand loyalty, retention and engagement, which is essentially the primary goal of any business. With reward programs, especially customer loyalty programs, you’re catering to your most profitable, faithful segment, wherein you essentially reward them for their participation. You not only give them what they pay for but also a little extra.
Rewards are a given for any betting website, since they are a niche service that receives a regular influx of users who make monetary contributions, and with all the competition, they are a useful marketing tactic, and since you want your punters to use your betting website, so here are some ways to go about doing just that.
It is essential to know the general consumer behavior of your audience, and what will potentially work, and what won’t. You need to know which sports betting rewards will be the most lucrative for you and your customers. By studying your audience, you will also know their general betting patterns – when they are betting and what they’re betting on, and you can capitalize off of that data. For instance, if analytics show that your site receives the most amount of traffic in January, then you can consider investing in “New Year’s Bonuses” for your punters.
First and foremost, you need to determine why you want a rewards programme. Is it primarily to attract new punters, or to cater to the needs or existing ones? In the case of the former, you’d want to invest in setting up rewards like sign up bonuses or referral bonuses. If your goal is the latter, then VIP programmes, rebates, badges, tier systems, etc. work well.
Once you’ve analyzed your core audience and decided on a final, lucrative course of action, it time to set your rewards programme up. If your company is a smaller one that doesn’t receive a large amount of traffic, you could manage one by yourself by setting up a well-established system. For example, based on your monthly analytics, you can offer a reward to the top 10% of your most loyal customers every month, or you can also offer repeat customers- someone that places ten bets in a given period, a cashback. You can set up a simple back and forth system, and maintain direct contact with the users.
But setting up and maintaining a sports betting rewards system is difficult, especially if your website has a high number of users. In that case, you can make use of third-party companies that will help you set it up.
Segment and target your audience according to their betting habits, and tailor offers for each group. It’s a wise choice to automate; it will make the management of the entire indefinitely easier.
You’ve created the perfect rewards programme, personalized for your audience. Now the only thing left is to get the word out. You need to market the hell out of your rewards programme, especially when you’ve just set it up. Social media and email marketing work best, as it allows for feedback. Even after you’ve gotten the word out, it is integral that you regularly stay in touch with your punters.
Tags: Rewards Platforms