The meteoric rise of the iGaming market has prompted many businesses to launch their own sports betting platforms online. As the market for sports betting grows, so does the amount of competition within it. As a result, before entering this industry, you should ask yourself how your company will be different from the competition. What is going to set your company apart from rivals?
To attract new customers, you will need an effective, multi-layered marketing strategy that covers many channels. In the first part of our two-part blog outlining the best acquisition strategies, you will find the areas that you should focus on to boost your marketing approach.
1. Brand Marketing
Joint Ventures between the Media and iGaming Firms
Reputation and trust are important factors for iGaming operators, especially when new to the industry. As the sports betting industry grows, more and more media partnerships and corporate sponsorships are being signed. Partnership deals are an effective way to spread the word about new betting platforms in a market where competition is heating up, especially as the industry grows and new sources of income emerge. These deals often prove successful because they can leverage the reach of the media, harnessing the power of user databases.
Sponsorships and Brand Ambassadors
When entering a new market where your brand currently has low recognition, sponsorship of local, high-profile sports teams, and also recruitment of ex-sportsmen and women to be advocates for your brand, can be a successful way of raising awareness and generating publicity.
This marketing tactic is both good for brand recognition and trust, which also applies with the use of famous sports people as brand ambassadors. For example, Portuguese footballing legend Luis Figo joined Digitain as a brand ambassador in July 2022, boosting the company’s outreach to sports betting fans.
2. Digital Marketing
PPC Advertising (Pay per click)
Given the online nature of the industry, it’s imperative that paid search and other digital advertising methods be used to acquire customers. Pay-per-click (PPC) advertising allows you to reach your desired demographic with little outlay of resources.
Here are just seven powerful benefits of using PPC:
• PPC Contributes to Business Goals. This is often the most compelling reason to use PPC advertising
• PPC Is Measurable & Trackable
• Quick Entry
• You’re in Control
• PPC Works Well with Other Marketing Channels
• Incredible Targeting Options
• A Wealth of Marketing Data.
Advertising today is becoming more and more automated via programmatic advertising. With pre-programmed advertising, you may provide a set of parameters and a spending cap, and then hand over full editorial control to an AI system. It’s a very effective method of marketing that helps save time and money while yielding better results and allowing for more specific ad campaigns.
This strategy is probably more effective for those focused on retention, rather than acquisition. There are plenty of benefits to this strategy to make customer relationships better.
• Better knowledge of customers
• Better segmentation
• Better customer retention
• Better anticipation of needs
• Better and speedier communication
• Better protection of data privacy.
Marketing with Influencers
Using influencers is a great way to expand your iGaming business. This can cover such aspects as brand visibility, access to new and actively engaged audiences, as well as increased income. Individuals look up to and follow influential people on social media, making influencer marketing a powerful tool for growing a business’s client base. A successful influencer marketing campaign relies on the endorsement of a well-known figure who can reach and sway the desired demographic.
Using Social Media for Promotion
Large and small companies alike now include social media, such as Twitter and Instagram, in nearly all of their overall marketing strategies. You can find and connect with your target demographic by establishing a social media presence for your sports betting app and routinely uploading content (including videos, photos, live videos, and tales) that promotes your app. Features such as call-to-action buttons, private chat, etc may help you increase your number of leads and sales.
For more information on other excellent acquisition strategies, read more in our part two blog.