Trying to determine the best way to attract customers is not always straightforward, but there are fortunately plenty of places that businesses can look if they want some inspiration.
As well as checking out what rivals are up to, firms have the option of casting their eye further afield and seeing how organizations in other sectors go about it. One area which is well worth assessing in this regard is the online casino industry, a sector which really appears to be on the up at the moment.
An industry on the up
The online gambling market has been thriving in the last decade or so and all of the signs point to its growth continuing in the next few years. For instance, a study by Grand View Research released last August predicted that the area could be worth more than $102 billion by 2025.
An industry which has always been open to embracing new innovations, it is an area which offers up plenty of ideas on how you could make little changes to your organization to ensure it is in a strong position for both acquiring and retaining customers.
But what are the key lessons you can learn from the sector? Here we have picked out just four for your consideration.
1. The importance of mobile
The importance of offering mobile-friendly services cannot be overstated at the moment, particularly with figures from Statista suggesting that more than 167 million people in the US will buy goods via mobile this year.
Online casinos were quick to identify the big opportunities offered by having a presence on mobile and it has now become the norm for them to have both sites and apps designed for use on smartphone and tablet. Could your business benefit from taking a similar step?
2. Welcome promotions
The right promotions can make a huge difference to customer acquisition and this is something the online casino industry has come to understand all too well. As these casino bonuses from Betfair highlight, it is very common for sites to offer special deals aimed at encouraging new players to sample everything from slot games to live casino experiences.
It may well be worth you taking a look at your organization and assessing whether you would be able to do something similar. A free trial or a new customer discount may be just what you need to see an uplift in customer acquisition.
3. Payment methods
The recent Lost in Transaction survey published by Paysafe has put a spotlight on how consumer attitudes to payment methods have been changing in recent times. It highlighted that more than half of consumers in the UK have used new forms of payment in the last few months, with 12 per cent also using digital wallets like Skrill for the first time too.
Most online casinos have offered a range of payment methods as standard for some time now, with the step meaning that members are not restricted and can make deposits in a way that is convenient to them. With interest in alternative payment methods such as digital wallets seemingly on the rise, it may be the time for you to consider whether they are something your business should be looking at.
4. Expand your offering
Specializing in one specific area or niche can be good, but could there be scope to expand your services at all? Online casino sites have been able to do this by offering many different types of experiences from table and card games to slots. They then build on that even further by providing variants of each, with many embracing a range of themes and styles.
Offering new products and services alongside your existing range could be useful as you look to attract customers and also secure further business from existing ones.
Plenty to learn
The online casino industry is in rude health at the moment and, as the ideas highlighted above show, there is plenty that can be learned from the sites operating in the area.
Hopefully these ideas have given you some food for thought on how you might be able to change things up within your organization and ultimately succeed in taking your growth to a whole new level.