Casino marketing strategies
Different specialists can develop completely different promotion strategies for a brand. In order to delve into these issues, we pay attention to the very concept of marketing strategy.
Marketing strategy is, as a rule, a long-term plan for the implementation of the company’s commercial and corporate goals. As a part of these tasks, casino marketing managers are involved in promoting the brand in the market, improving conversions, and pricing processes. In addition, this includes working with clients and staff.
Marketing strategy is an official document that is enshrined in company policy. Accordingly, the document reflects the real position of the brand in the market, including an assessment of the development prospects, the presence or lack of necessary resources for growth. Growth in sales is paramount in any marketing strategy. This is usually achieved by increasing the flow of customers or the number of orders.
Casino marketing strategies in practice
Any action plan should be consistent with the overall strategy of the company to achieve its goals. Let’s consider which strategic tasks are solved by marketers in online casinos:
- Increase the brand presence and awareness on the market. Any casino brand needs a market of searching potential players to implement a marketing plan. Therefore, the goals of specialists in this regard are very transparent – to “capture” the largest possible share in the niche.
- The growth of registrations. If there are few players and they are not willing to make deposits, then casino marketing strategies do not work as they should. This is almost an axiom. The number of customers is always added after increase in market share, and deposits starting to come with them. Proper marketing concepts should stimulate players’ activity.
- Increase in brand profits. Accordingly, sales growth directly affects the profitability of the enterprise. Casino Marketing Strategy affects business liquidity. For example, you can quickly get new players by distributing free bonuses, achieve crazy growth in registrations and ultimately remain at a loss. The reason is the unit economy is incorrectly considered.
- Brand positioning. In order to consistently receive new players and FTDs, you must create a correct company position in a niche. The target audience should understand the value of the casino and associate these qualities with the brand. (More details on the casino public relation page)
- Marketing is a connecting link between casino services and the mind of a potential player.
To solve these problems, it is necessary to study the target audience of online casinos. Without a clear understanding of whom the company is “selling” to, it is difficult to get a good result. All segments of the target audience should be described in details – this will be an excellent platform for the marketer.
Casino marketing strategies: Types and groups
Marketing strategies can be classified according to several development criteria:
- Concentrated growth. The player search market adjusts to special, local casino bonuses or special promotions and services are upgraded to niche characteristics. Often, marketing is aimed at expanding the zones of influence of one brand (horizontal increase in market share), as well as at competition.
- Integrated Growth. This is a type of marketing strategy for vertical development. That is not the market is expanding, but the structure of the enterprise. The basis is the addition of new verticals and services (Example: Sports, eSports, Bingo, Keno, etc.), cooperation with master affiliates and partners.
- Diversified growth. This type is applicable when the brand has already run out of resources to promote certain services on the market. In this case, it makes sense to expand and open up new brands or actively increase positioning in promising markets.
Also casino marketing strategies can be divided into types according to market orientation. For example, companies concentrate on a single casino slots service or offer a choice of several categories (betting, bingo, lottery, etc.).
Casino marketing strategies levels
Classical marketing includes four levels – corporate, business units, functional and operational. However, in practice, the functional level is usually excluded, because it seriously reduces the development potential of the company. Consider the key areas in more details:
- Corporate level. The marketing development strategy is based on the formation of a differentiated matrix of products with a strict orientation to the existing market.
- Business units. At this level, competitive marketing strategies are developed for each type of company activity.
- Operational or product level. This, in essence, is the positioning of services in the market. The service can be combined into groups and complexes within the framework of a strategic plan.
- Accordingly, levels can interact with each other, creating sublevels within the framework of one or several directions of the company’s development.
The structure and content of the marketing strategy
Specialists distinguish the following structure:
- Analysis of target segments and market. This helps to determine the relationship between the capabilities of the enterprise and the market. That is, the company according to the results of the analytical review should decide what services and verticals it will offer customers in the niche.
- Customer segmentation by target groups. It is necessary to divide the total flow of potential buyers into small target segments in order to satisfy their demand. It is recommended to focus on the target group itself, following the Pareto rule: 20% of customers bring 80% of the company’s profits. This result indicates that the target segment is correctly defined.
- Positioning. Marketing development strategy requires a clear definition of their position in a niche.
- Marketing package of measures. These are combined tools that help marketers promote their services.
To summarize
What is clear to us exactly, casino marketing strategies can be of different types, so that is the ability to combine steps and goals allows marketers to build a growth path for a company based on its capabilities.
The BoomAff team often assists its partners in developing a working marketing strategy. We understand that a correctly and clearly formulated casino marketing strategy is the key to brand success.