Author: Yovanny

While casinos have been around for as long as we can remember, that doesn’t mean they haven’t been changing with time. The traditional Vegas casino paved the way for a new generation of customers that quite simply prefer to play from the comfort of their homes in online casinos. And that’s where our business comes in.

However, as online casinos become more commonplace it is important to improve your overall customer experience to maximize your profits and ensure customer loyalty. After all, at the end of the day, more playtime is more revenue, and that means that you will want clients to stay for as long as possible and enjoy their time on their platform.

That is where data comes in. The internet experience is all about data, and while all of it is quantifiable, it can also be overbearing if you don’t know how to analyze it. Which is why today we’ll be taking a look at the role of BI in improving customer experience. That way you’ll know exactly how to invest your players in your online casino.

Understanding Business Intelligence

First and foremost we need to clear up what Business Intelligence means in this context. BI or Business Intelligence refers to a collection of software and services that can help convert raw data into understandable insights for your business to analyze and make choices with. So in short, Business Intelligence refers to any tools that take general data about your business and help convert it into more useful and easily analyzed data.
However, what kind of information is relevant for Business Intelligence? Almost any sort of statistic you can think of. BI tools can keep track of your most played games, the best earners amongst your catalogs, show you which titles are underperforming as well as provide detailed reports on your profits vs your expenses.
All of this information exists, but BI ensures that the important information is easy to grasp and that you can access it easily.

How BI can help your Online Casino

The biggest benefit that BI offers is that it shows you accurate data on your online casino based on real processes. Through the use of BI tools you’ll be able to identify just how many players are choosing a given slot, understand how much they invest per session and even which games see the lowest revenue and/or the highest number of players.

This information is important because it allows you to keep a closer eye on all of your games, and also to notice common trends amongst your player base. Perhaps there is a game that constantly underperforms despite its costly license fee? BI allows you to notice this trend and remove it from your portfolio. Similarly, since you’ll have a clear grasp on what games do perform well and are popular you’ll be able to tailor your website’s experience to exploit these trends.

Building a unique customer experience

Bonuses are an essential aspect of the online casino market, and they help give a final push to interested customers to play on your website. However, what if you could offer custom bonuses based on real trends and information you

obtained from Business Intelligence tools?

If you’ve noticed that a specific game is by far the most popular pick in your casino you can make new bonus campaigns centered around it. This way you’ll be able to keep existing users invested in a game they already love, and direct new ones towards a title that has a wide acceptance rate amongst players.

BI also provides you with detailed information on players’ habits like their most common login times and their most active days. This means that future campaigns and events can be planned for those moments when the number of connected players is at its peak.

The key with BI is that it allows you to understand your player’s habits more straightforwardly, and this information can allow you to tailor any future choices around their tried and true trends.

Let’s sum it up

Business Intelligence refers to a suite of technological tools and services that can provide you with more easily digestible information on your online casino and important statistics like revenue, playtime, and so on. Now, information is perhaps the most important tool in digital businesses, and by taking into account the info provided by BI you can completely reinvent your customer experience around their needs and habits.

BI gives you the required information to truly understand your player base and their preferences, once you’ve grasped that you can then redirect your efforts into new campaigns that can help provide your players with more credits for their favorite games or better odds on the days they are most likely to be active. This way you’ll be offering a custom experience that directly rewards them while ensuring their loyalty and your continued profits. And it all starts with a bit of information.

There is an argument that online casinos greatly rely on trust. Your players have to be able to trust that will not only treat them fairly, but also that you will protect their privacy, their money and that you will win pay them when necessary. As a result, fraud can be hugely damaging for an online casino. One of the key ways of combating fraud is with strong KYC policies.

What Is KYC and How Can It Help You Avoid Fraud?

KYC stands for “Know Your Customer” and it is a process of verifying customer identity. It is an essential part of your due diligence to ensure that you are working with legitimate customers and not criminals.

By performing KYC, you can vet your customers to ensure:
• That they are who they say they are.
• That they’re not on any watch lists or have criminal records (like fraud).
• That they aren’t using other people’s information to open accounts in your casino.

With online gambling increasing in popularity, fraud is also increasing.

Fraudsters are taking advantage of the anonymity that the internet provides to commit their crimes. They use many different methods to trick victims into sending money without receiving anything in return.

One method used by fraudsters is called phishing and another is called smishing (smartphone messaging). Phishing involves sending emails from fake websites that look like real ones so that people think they are logging into their accounts when they aren’t. Smishing works the same way but involves text messages instead of emails.

With KYC regulations implemented by online casinos, gamblers have more confidence knowing that no matter what happens during play, their funds are safe because they won’t be stolen or used for illegal purposes by either party involved (casino or player).

In turn, this helps prevent fraud, which decreases the costs associated with combating such crimes. It also maintains trust between both parties involved and provides peace of mind for players who want nothing more than some fun without having to worry about their online safety.

A strong KYC policy helps you keep out those who are likely to commit fraud.

KYC helps you to
• Identify high-risk users.
• Identify users who are likely to commit fraud.
• Identify users who are likely to commit money laundering.
• Identify users who are likely to commit identity theft.

By allowing you to better evaluate your users and their transactions, KYC can be used to help you detect fraud.

KYC is a way to verify the identity of a user. It can help you detect fraud and money laundering, but it also has other uses. For example, KYC can be used to help detect other types of criminal activity or illegal activity that may not have anything directly to do with your casino business.

If this seems like an abstract idea, let’s consider some examples:
If someone is using a credit card that has been reported as stolen, then their transaction will be flagged as suspicious by your financial institution (if they are operating within PCI DSS standards). This means that you will know about it before it happens!

Criminals can make up fake identities to get around this kind of thing-but even then they might still end up being caught thanks to things like facial recognition technology or voice recognition software. These technologies are becoming increasingly advanced year after year, making life harder for criminals.

Fraudsters often use multiple identities to commit fraud and then disappear into the ether once they have committed the crime.

Fraudsters are not always good at disguising themselves, so having good security and KYC policies can help you catch them before it’s too late.

The problem with fraud in online casinos is that it is hard to identify who might be trying to commit fraud. You don’t know who is going to try something until they have already made an attempt (successful or otherwise). This means that the only way for you to protect yourself from this type of crime is through prevention rather than after-the-fact detection methods used by traditional law enforcement agencies.

By implementing a system where all transactions are logged on your servers as well as any personal information about each customer (including name, address, phone number, etc.), you will have an easier time identifying suspicious activity if – or when – someone decides to try committing fraud against your organization!

Online casinos must do everything they can to prevent fraud from happening.

To reduce fraud and money laundering, online casinos must take several steps. These include the following:

• Implementing strong KYC policies that help you identify who you are dealing with.
• Having anti-money laundering (AML) systems in place so that funds can be tracked and identified.
Less fraud will mean happier customers, better reputation management, and overall better business.
• Customers will be happier and more satisfied with their gaming experience.
• Your business will benefit from a reputation of trustworthiness and honesty.
• Not only will you save on costs, but you will also save time spent on investigating potential frauds and dealing with the consequences of them (like unhappy customers).

Conclusion

At the end of the day, we all want to keep our customers happy. By having a strong KYC policy and implementing it properly, you can help prevent fraud from happening in your online casino. This will make your customers happier and give you better business!

There is an argument that online casinos greatly rely on trust. Your players have to be able to trust that will not only treat them fairly, but also that you will protect their privacy, their money and that you will win pay them when necessary. As a result, fraud can be hugely damaging for an online casino. One of the key ways of combating fraud is with strong KYC policies.

What Is KYC and How Can It Help You Avoid Fraud?

KYC stands for “Know Your Customer” and it is a process of verifying customer identity. It is an essential part of your due diligence to ensure that you are working with legitimate customers and not criminals.

By performing KYC, you can vet your customers to ensure:
• That they are who they say they are.
• That they’re not on any watch lists or have criminal records (like fraud).
• That they aren’t using other people’s information to open accounts in your casino.

With online gambling increasing in popularity, fraud is also increasing.
Fraudsters are taking advantage of the anonymity that the internet provides to commit their crimes. They use many different methods to trick victims into sending money without receiving anything in return.
One method used by fraudsters is called phishing and another is called smishing (smartphone messaging). Phishing involves sending emails from fake websites that look like real ones so that people think they are logging into their accounts when they aren’t. Smishing works the same way but involves text messages instead of emails.
With KYC regulations implemented by online casinos, gamblers have more confidence knowing that no matter what happens during play, their funds are safe because they won’t be stolen or used for illegal purposes by either party involved (casino or player).
In turn, this helps prevent fraud, which decreases the costs associated with combating such crimes. It also maintains trust between both parties involved and provides peace of mind for players who want nothing more than some fun without having to worry about their online safety.

A strong KYC policy helps you keep out those who are likely to commit fraud.

KYC helps you to
• Identify high-risk users.
• Identify users who are likely to commit fraud.
• Identify users who are likely to commit money laundering.
• Identify users who are likely to commit identity theft.

By allowing you to better evaluate your users and their transactions, KYC can be used to help you detect fraud.

KYC is a way to verify the identity of a user. It can help you detect fraud and money laundering, but it also has other uses. For example, KYC can be used to help detect other types of criminal activity or illegal activity that may not have anything directly to do with your casino business.
If this seems like an abstract idea, let’s consider some examples:
If someone is using a credit card that has been reported as stolen, then their transaction will be flagged as suspicious by your financial institution (if they are operating within PCI DSS standards). This means that you will know about it before it happens!
Criminals can make up fake identities to get around this kind of thing-but even then they might still end up being caught thanks to things like facial recognition technology or voice recognition software. These technologies are becoming increasingly advanced year after year, making life harder for criminals.
Fraudsters often use multiple identities to commit fraud and then disappear into the ether once they have committed the crime.

Fraudsters are not always good at disguising themselves, so having good security and KYC policies can help you catch them before it’s too late.

The problem with fraud in online casinos is that it is hard to identify who might be trying to commit fraud. You don’t know who is going to try something until they have already made an attempt (successful or otherwise). This means that the only way for you to protect yourself from this type of crime is through prevention rather than after-the-fact detection methods used by traditional law enforcement agencies.
By implementing a system where all transactions are logged on your servers as well as any personal information about each customer (including name, address, phone number, etc.), you will have an easier time identifying suspicious activity if – or when – someone decides to try committing fraud against your organization!

Online casinos must do everything they can to prevent fraud from happening.

To reduce fraud and money laundering, online casinos must take several steps. These include the following:
• Implementing strong KYC policies that help you identify who you are dealing with.
• Having anti-money laundering (AML) systems in place so that funds can be tracked and identified.

Less fraud will mean happier customers, better reputation management, and overall better business.

• Customers will be happier and more satisfied with their gaming experience.
• Your business will benefit from a reputation of trustworthiness and honesty.
• Not only will you save on costs, but you will also save time spent on investigating potential frauds and dealing with the consequences of them (like unhappy customers).

Conclusion

At the end of the day, we all want to keep our customers happy. By having a strong KYC policy and implementing it properly, you can help prevent fraud from happening in your online casino. This will make your customers happier and give you better business!

When it comes to online casinos, marketing is everything and is what separates good casinos from ones that fall under pressure. CRM systems generate leads and get customers interested and coming back time and time again. Let’s take a deeper look at exactly how CRM works when it comes to online casinos.

The Problem With Marketing Online Casinos

Adverts for online casinos are absolutely everywhere and there is no doubt that they hook customers in. However, attracting new customers is only half of the battle; you have to keep current customers interested to really thrive as a brand. There are many casinos online and customers need to be given a reason to keep coming back to a particular one.
It is proven that gamblers are creatures of habit and once they find a casino that they like, they will usually stick to that one and their interest will not waver elsewhere. If you have a CRM system in place, however, a customer only needs to use your casino ONCE and from that point, you can target their specific interests to keep them keen. Brand loyalty is one thing but there are definitely ways that you can develop a larger amount of customers using emails and CRM.

More About CRM

CRM stands for “customer relationship management” and it is a very special thing that connects customers and the business in question (in this case online casinos). When you have customers at your online casino, different information is stored about them and this ranges from how frequently they visit, how much time they spend playing, how much money they spend, and so on. CRM data used to be analyzed and produced by hand but that was very time-consuming and is the reason why there are so many different CRM software programs out there nowadays. A good CRM software management program will store all of this information for you.

The Role of Emails in CRM

CRM email marketing combines the data used from CRM to target existing customers to online casinos and their particular preferences. It is known to be a very effective tool and most casinos online will have some kind of system like this in place. CRM automates different pieces of data in marketing and this can be very effective with online casinos and all the different demographics that need to be targeted. With all of this in mind, let’s take a look at the effectiveness of emails for online casino marketing in general.

The Effectiveness of Emails for Online Casino Marketing

There are many reasons why emails should be used with gambling websites and it is probably the most effective form of marketing in this situation, even more so than with adverts that you might see online or on the television.

• Some customers play at an online casino once and then forget about it. When you target them using their CRM data reminding them of the game they enjoyed most or different promotions that you have available, they are going to remember the website and will be much more likely to return.

• Another reason why emails work so well is that you are putting your brand name in their head as it flashes up in their inbox.

• When you use a customer’s name on the email, they are likely to feel special and will want to return. You are building up a better relationship with them and you are also showing excellent customer service which could make you stand out from other casinos.

• It is a great tool to entice people to play perhaps advertising new games on the site and giving them an incentive to play like free spins.

Conclusion

Time and time again, studies have shown that the most effective form of marketing is emailing customers directly for a number of different reasons, this is even more apparent with online casinos. If you have a high-quality CRM system in place to detect customer behavior and respond accordingly using emails, you are much more likely to have a successful website that keeps people interested. Think about the connection between your casino site and CRM today and you will see just what it is possible to achieve if you are smart about it.

Customer retention is one of the most vital aspects of any business. When it comes to online businesses, customer retention methods are even more important as there is little to no face-to-face time between the business and its customers.
Therefore, it is important that business practices prioritize customer retention above almost everything else. Here we will take a quick look at the importance of customer retention and how it applies to online casinos, as well as offer some key metrics and methods for measuring customer retention using said metrics.

The Importance of Customer Retention

Business students and business gurus have argued about the merits of acquiring new customers versus retaining existing ones to death. However, there doesn’t need to be any discussion because the numbers speak for themselves. It costs vastly more to bring in a new customer than to retain an existing one. Existing customers require little to no marketing outreach and are already provably more likely to use/purchase your product. Online casino churn rate, what portion of users leave the platform, is at the forefront of how successful an online casino will be. Online gambling is a volume game, retaining your existing customers is the best way to ensure a steady increase of revenue over time.
Key Customer Retention Metrics to Look At
There are some key metrics to consider with any online business; however, the following four are the most applicable and important to online casinos. It is of the utmost importance that key metrics are not only considered and tracked but that the data is used to influence business decisions and the future goals of the organization.

Customer Churn Rate
Customer churn rate is the rate at which customers leave the platform. This is most often measured within two parameters. First, how many customers join the platform and then leave? Second, how long does the average repeat customer spend on the platform? The longer the latter churn rate the better.
Churn rate = customers lost / existing customers (e.g. 1000/25000 = 4% churn rate)

Customer Retention Rate

The customer retention rate is almost the exact opposite of the churn rate. What percentage of customers return to the platform after they use it for the first time? Do customers stay after they have used their free spin on the roulette wheel or free credit playing online slots? If the customer retention rate is low, for example, is it worth offering those free promotions? Probably not.
Retention Rate = (customers at month end – new customers this month) / customers at beginning of the month (eg. 25000 – 1000 / 25000 = 96% retention rate)

Repeat Purchase Rate

How often is a customer likely to use your service again? What percentage of your casino users load up their account with credit once and then never do so again, preferring to only use free spins and capitalize on promotions? An average repeat purchase rate in most industries is about 28%. Given the nature of online gambling, a good repeat purchase rate for an online casino is 60-70%.
Repeat purchase rate = number of returning customers/number of total customers

Loyal Customer Rate

The loyal customer rate is very similar to the repeat purchase rate but goes one step further. It is important to quantify customers by how often they return not just whether or not they have. For example, if you have a 70% repeat customer rate what percentage of those repeat customers return once more, 5 times, or a hundred? Finding a way to quantify customers based on how often they come back not just how much they spend is vital for identifying your loyal customer base.
Customer loyalty value = customer x purchases per year (excluding first purchase)
Customer loyalty rate = average customer loyalty value x total customers

Summary

Hopefully, this brief article has given you some good ideas for measuring customer retention and clarified just how important retention is when running an online casino. Being able to increase customer retention rates by 5% can potentially increase profits by as much as 25% over a prolonged period. Improving business practices of retention is a far more cost-effective method of revenue increase than an increased marketing budget in the hopes of acquiring a new customer base.