What Should Businesses Learn From Online Casinos About Customer Retention

business lessons customer retention online casino consumer loyalty strategies

Online casinos are some of the places where normally you wouldn’t look for business ideas. But in terms of customer retention, you may be thinking twice before pushing away this option. 

Firstly, what is customer retention? According to the marketing definition, it is the process of engaging the already existing customers in continuing to buy products or services from your business. In other words, is what activities a business uses to increase the number of repeat customers and, thus, the profitability for each of them. 

And what online casinos have to do with that? Well, a lot. One reason is that they face tremendous competition. And the top sites – the legal ones – know how to retain their customers. 

While the ability to retain customers is a very valuable one for businesses, because it costs much more to attract new ones than to keep the clients you already have, you may want to look at any industry that knows best how to do that and is specialized in this matter. 

Here is how online casinos teach businesses how to keep their existing customers, encourage them to return time and time again, and prevent them from turning to the competition: 

As Many Bonuses As You Can 

Giving out promos and bonuses is one important way to retain customers. Cash rewards are the most often bonuses, but so are coupons and others. 

Different from a small business which offers bonuses for special holidays or shopping seasons, the online casinos have a bonus system which is centered on rewarding more the remaining players. 

These loyalty bonuses may or may not work in all businesses, but the idea is there: Give a reward to the customers who choose to come back to your business. For example, there are offers like “claim a certain percentage off your next purchase”. 

VIP Incentives For Returning Players 

Above the regular bonuses and promos are the VIP incentives for returning players. One example is the birthday bonus, or a promotion offered to players who spend large amounts of money. Sound like something your business could do, right? 

More than the generous promo or bonus itself is the fact that the players really feel like they are valued, so they feel more than welcomed to come back to the same online casino. Furthermore, these VIP incentives keep the customers happy. 

And one more thing online casinos have are the VIP clubs. While not every business can afford such a club, that is an idea you may take into account. 

Top Loyalty Programs 

Bonuses and VIP treatments build loyalty. And what else does? Free products, reward points and loyalty cards are part of loyalty programs which work for the customer retention. 

Online casinos have each its own loyalty program, and they are building their marketing strategy centered on it. In the industry, it is common to use frequently smaller rewards to loyal customers, or offer cash bonuses upon signing for a loyalty program. 

One thing businesses have to learn from casinos is to actually let customers know that they are in loyalty programs – and help them follow their rewards as they shop. 

What Else About Retaining Customers? 

Other ways online casinos use for customer retention are some of the best customer services, keeping an eye on the competition, or providing trustworthy security

Having many customers service options, knowing what other companies are launching or offering, and giving a sense of security to customers – especially the online buyers – are other lessons which businesses should have in sight when it comes to customer retention.

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