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The importance of focusing on existing customers for growth

This article was based on the interview with Pini Yakuel of Optimove by Greg Kihlström, MarTech keynote speaker for The Agile Brand with Greg Kihlström podcast. Listen to the original episode here:

The iGaming industry, which includes sports betting and online casinos, is a unique industry with high velocity of transactions and little differentiation between brands. Incentives like bonuses and free money for gambling wear out quickly, making it challenging for brands to stand out. However, despite these challenges, brands in the iGaming industry can learn valuable lessons about customer journey and experience that can be applied to other industries.

One key aspect that makes the iGaming industry unique is the focus on existing customers for growth. In a highly competitive market where customer acquisition costs are high, retaining and maximizing the value of existing customers is crucial for long-term success. This is where the concept of customer-led marketing comes into play, which is the foundation of platforms like Optimove.

By focusing on existing customers and fostering better relationships through personalized customer experiences, brands in the iGaming industry can maximize customer lifetime value. This means delivering relevant and timely messages to customers based on their behaviors, preferences, and interactions with the brand. By leveraging data pipelines, data capabilities, and data science, brands can create targeted marketing campaigns across multiple channels such as email, push notifications, SMS, and web.

Furthermore, the iGaming industry’s emphasis on customer journey orchestration can serve as a valuable lesson for other industries. By mapping out the customer journey and identifying key touchpoints, brands can create a seamless and personalized experience for customers. This not only improves customer satisfaction but also increases engagement and loyalty.

The iGaming industry’s focus on existing customers for growth highlights the importance of customer-led marketing and personalized customer experiences. By leveraging data and technology to create targeted campaigns and optimize the customer journey, brands can differentiate themselves in a competitive market and drive long-term success. This approach can be applied to other industries to enhance customer relationships, increase customer lifetime value, and ultimately achieve sustainable growth.

The Agile Brand: Customer Journey Orchestration is now available