The most important goal of a business should be to keep customers coming back. It’s widely reported that it costs five times more to attract a new customer than it does to retain an old one, meaning that business owners need to focus on achieving high retention rates.
The bustling online casino sector is a great place to look for inspiration on how to do this, as companies in this sector face fierce competition from their rivals.
Retaining Customers in a Highly Competitive Environment
The online casino industry is saturated, and players are faced with a plethora of options. There’s nothing stopping them from joining a site, claiming a welcome casino bonus, and then moving on to another. Therefore, operators have to use other special offers to keep players interested. At Paddy Power, these include the chance to win a share of a weekly prize pot, along with daily and weekly free spins and bets.
If a site can provide enough opportunities for players to get freebies, then it makes sense for them to stay at the site. After all, it can be a hassle for people to register at a range of sites, and some users don’t want to provide their bank details in too many places. By having promotions that keep players engaged, businesses can encourage them to remain loyal.
Loyalty Schemes are Still a Classic Ploy for Businesses
Online casinos aren’t doing anything new, as loyalty schemes have been around for years. However, it is a good idea to observe how they implement them and make them unique. The bonuses are often related to certain slot games, designed to coax players into testing out more options to avoid the boredom that could ensue if they stuck to the same titles.
Loyalty schemes are doing something right, as they’ve existed since 1793. Back then, business owners gave out copper tokens with purchases that could be used to buy future products. In offline establishments like coffee shops, patrons have grown accustomed to filling up loyalty cards to get free drinks.
Then there are the points systems found at supermarkets like Morrisons and Boots. All of these incentives give customers a good reason to keep coming back. They know that the more they do, the greater the freebies will be.
Enjoyable Experience is Another Key Factor
Perhaps the best thing about offers and bonuses is the fact that they are combined with enjoyable experiences. For instance, a Boots Advantage Card gives customers instant savings as well as free health and beauty advice. The pleasure that entails leads them to form a positive association between the offers and the store, thus leading them to keep coming back.
Business owners should ensure that customers feel as though they are always getting rewarded for their loyalty. This can come in the form of daily or weekly deals or repeat custom promotions that yield greater rewards over time.