The biggest issue that online casinos and betting sites face is customer retention. This industry is littered with big bonuses aimed at new members and these bonuses are great for drawing customers in, but as soon as the credits are spent, the wagering requirements are met and the withdrawals are made, most of those customers leave.
So how can modern betting sites keep these customers and turn new members into loyal ones? The following techniques can help not only to draw new members in, but to keep them there for the long haul.
Players love bonuses. You can’t escape that fact and you can’t find a viable alternative either. However, not all bonuses need to be geared toward new members. A loyalty bonus rewards players when they stick around, make multiple deposits and spend big.
These bonuses are nowhere near as common as they should be, but you’ll see them on some of the biggest and best gambling sites. The idea is simple: players are added to a loyalty program and encouraged to play slots, place bets, and make deposits in order to gain points. These points can then be exchanged for everything from free bets to cash prizes and branded goodies.
To encourage players to keep making deposits once their initial welcome bonus has expired, offer them some reload bonuses. These bonuses provide a top-up to a player that makes an additional deposit after their new member bonus has been used up.
They tend only to offer between $5 and $50 and they come with wagering requirements to help protect the gambling site, so they are not high risk, yet they work very well at retaining customers.
Free spin bonuses are very effective at retaining customers and steering them towards specific slot machines. They are also a cost-effective bonus for the casino, because a free spins bonus always sounds more valuable than it actually is.
An offer of “100 free spins”, for instance, sounds fantastic. It’s a big number, so much so that many players will immediately think this bonus is more valuable than one that offers $20, $30 or even $50 in bonus credits. However, the average free spin has a value of between $0.05 and $0.20, which means those 100 free spins equate to a bonus of between $5 and $20!
Think of it another way: even the most hardened of gambler will not be able to turn down an offer of 1,000 free spins and will likely remain committed to the casino that provides them with such a huge bonus. However, if those spins have a value of just $0.05, then the total value is only $50.
Thanks to aggregate odds sites like OddsChecker, it has never been easier for customers to compare the odds on one site to the odds on another. They will then choose the site that offers the best odds and place their bets there.
This means that offering great odds on a particular bet will give a sportsbook a free publicity boost and could help to increase signups and exposure. If competitive odds continue to be offered, then this exposure will continue and experienced bettors who have multiple active accounts on many betting sites will make a bee-line for that particular site.
Bonuses are a great way to lure customers into a website, but they are also a great way to keep them there—you just need to know how to use them properly. A loyal customer is more valuable than one that comes and goes following a new member bonus, so the same amount of time that is spent on acquiring new members should be spent on keeping them.