ICE 2015 workshop preview: Retaining your customer and at what cost?

ICE 2015 workshop preview: Retaining your customer and at what cost?

Tuesday, January 27, 2015 Totally Gaming

ICE Totally Gaming has partnered up with Nexus Gaming Intelligence to provide five, two-hour long, intimate environment workshops on their stand, N2-320. Here, Igor Samardziski, the founder and CEO of Nexus Gaming Intelligence, looks at the topic of retaining your customer.

 

Churn Management. You have had to be hiding under a rock to not hear the term and it’s relation to the consumer value in your business. We are consistently driven to identify the drop off points in our consumer lifecycle and incentivise re-activation, repeat business and loyalty. We do this through a plethora of incentives offered to our customers, from deposit bonuses to loyalty points, activity campaigns, “money can’t buy experiences” and other means. And it all must be done, agreed.

But at what cost? The explosion our industry has experienced over the last decade or so is nothing if not staggering and with such rapid growth comes the approach not to dissimilar to the “line of least resistance”. We give, and we give a lot. It is no secret that today, for each customer that is loyal to your business, they are also active on at least three more. That is a staggering four business that are a mere click away from one another, which all rely on a single entertainment budget and are all in an ever-going race to take the biggest chunk of it for themselves.

In this retention race driven by rewards, somewhere along the journey we blurred the lines between brand loyalty and one experiences and bought loyalty one is trained to expect. In our race to retain a customer via our plethora of available rewards and “cash-backs” it has become increasingly more difficult to understand the effect such approach has on our bottom line. Between the cost to acquire and retain, in some cases and if one is not careful, there is very little left.

During our ICE Totally Gaming workshops, we investigate the player lifetime journey and we look at surveys performed with customers across many different brands with aim to identify what truly drives consumer brand loyalty. We take a look at the cost efficacy between several customer profiles, taking into account the channel and offer they have been acquired through and costs that are tied to their behavior, from basic supplier costs, money collection costs down to their increasing expectations over their lifetime journey.

We identify the difference between how you perceive your customer versus how the customer perceives their own contributions to your business and all the different ways of bridging that gap. WE look at effects the current industry approach has on gross and net revenue and recognise and provide insight into areas of risk and improvement you can apply to your business today that will have a tremendous positive effect to your bottom line.
 

To sign up to the ICE Totally Gaming free two-hour workshop kindly follow the link below and let’s discuss the industry as it is today. If you are new to this industry, this session is an absolute must to attend to gain insight into challenges that await.
 

To read a Guest Blog by Igor Samardziski on ‘Competitive Age – Empowering your resource’ and Neuron Gaming Solutions, click here.

ICE Totally Gaming has partnered up with Nexus Gaming Intelligence to provide five, two-hour long, intimate environment workshops on their stand, N2-320, which will enable you to address your areas of interest with veteran consultants from within the industry. No topic will be off the table for discussion, with cross-platform product delivery, CRM, churn management, consumer profiling, fraud and risk management, regulatory movements among the areas set to be covered. Workshops are free to attend, but seats are extremely limited and pre-registration is highly recommended.

For more information, visit http://www.icetotallygaming.com/101-Start-up-clinic.

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