Today, any gambling company needs to understand the reason why their customers have stopped being active and switched to another brand. This requires careful analysis and forecasting of such things in advance. You need to understand if there is any chance that they will still come back. So, below we will go into this and much more in more detail.
To begin with, we will point out that the customer loss data is a specific percentage of players who, for whatever reason, no longer play or bet for a certain period of time. It also shows how many players who have previously registered actually take purposeful action at the online casino.
It is worth noting that many gambling sites have been experiencing this problem recently. Experts believe that it can and should be dealt with. There are now a large number of methods and special strategies that can be used to retain existing customers and also help prevent losses in profits.
What is the churn rate?
There are two options for calculating the loss rate: player churn and profit churn. To calculate the first indicator, this formula is usually used: the number of players who left is divided by the total number of players at the beginning of the count, and then the resulting number is multiplied by 100. In turn, to calculate the data on the loss of income uses the following formula. The number of players who left is multiplied by the average check of one gambler and by the number of cash payments for a certain period.
Usually, when you expand your customer base by at least 5%, your revenue immediately increases by 95%. For this reason, experienced experts and marketers believe that expanding the customer base and reducing the churn rate is the most important task for the development of absolutely any company.
The main reasons for leaving to a competitor
So why do gamblers stop gambling on your platform? To do this, as we said above, it is necessary to conduct a thorough analysis of the current situation. All the more reason to find out from the users themselves through a survey or by reading the comments, where you can find out their weaknesses and shortcomings. Negative feedback is often useful. After all, by learning about them, you can develop the right strategy to get back those players. Be sure to find out the reasons for leaving, especially if it happened fairly quickly after signing up.
We will now look at the main reasons why players leave the gambling sites. First of all, there are technical problems related to registration and confirmation of identity. If there is no answer for a long time, a person forgets about it altogether and the information becomes irrelevant. Although, a much more terrible problem is considered to be the withdrawal of funds, as well as issues with payment. This is understandable, because if a player cannot receive his money or, on the contrary, deposit it for further play, then he will find a new “problem-free” platform.
The next reason for switching to a competitor is that the bonuses and promotions are not attractive enough. Now in this sector there is very intense competition, each brand is trying to lure a part of the audience with the help of bonuses. Therefore, you need to be sure to compare your offers with the options of your rivals, and make the necessary adjustments.
Also, the choice of platform for many depends on the range of games. Even if you are a fairly young brand, you should not limit your choice, otherwise customers will not choose you. Experts recommend to keep an eye out for new releases and add them to your game catalogue straight away. And, of course, your range should be diverse: from classic video slots to the most sophisticated ones. You need to target all segments of your target audience.
Good support is the key to success
A lot depends on the experience of your users, as they may recommend you to their friends or leave negative feedback.
Firstly, the most important thing here is player support. Pay attention to whether your managers are able to solve your players’ problems in a polite and competent way. The support itself should work quickly and smoothly. So if you have some problems in this area, correct the situation immediately. After all, this is rightly the most important point, your reputation and image.
It is also worth checking the navigation on the website. In case a visitor cannot find the section or game he/she wants, he/she will simply move on to a clearer platform. Remember, the navigation should be structured in such a way that everything you need can be found in 2 mouse clicks.
About bonuses, apart from their actual availability, they need to be correctly credited and disbursed so as not to spoil the mood of the customers. In the case of this kind of cheating, it would be extremely difficult to get a player back on your platform.
In addition, in today’s world, you have to target international markets. Create all the conditions for foreign customers. It is about a variety of currencies and languages. It is worth noting that the support should also be in English.
A plan to get your customers back
So, the first thing to do if customer churn has been noticed is to identify the causes. As we said above, this can be done by analysing comments, surveys, as well as normal communication. Any problems identified should be rectified as soon as possible. Regularly expand the range of games and update the interface. Then it is worth thinking about: what is your key feature, how are you better than your competitors? You need to focus your audience’s attention on this. And then you can move on to making a plan to bring players back to your platform.
First you need to determine whether it will be rational for you. In case of a positive answer, we proceed to the implementation of the strategy. Usually, they use new promotions for this, improve the site itself, games, and much more. It is better to improve everything as a package. That way your chances are doubled. In general, don’t forget that if gamblers really like your site, they are more likely to come back on their own after a while without any intervention from you. By the way, sometimes a couple of days is enough for a player to fall in love with your site.