iGaming 2022: Are You Getting The Best Out Of Your CRM System?
iGaming regulation is getting tighter and more stringent all the time. The introduction of advertising bans in key regulated markets such as Holland, Sweden and the UK means that operators will now have to rely on their ability to extract value from their customer data more than ever before. On top of this, operators have to deal with a saturated market, high cost of acquisition, and low retention in the era of “multi-loyal” customers.
We caught up with Paul Crisp, CMO of Symplify, to hear his thoughts on the current levels of CRM utilisation in the industry and ask what operators can do to take this to the next level – ensuring market growth, despite the operational challenges.
CRM systems are used by almost every industry around the world. What differentiates the gaming industry’s needs to the point that generic CRM products won’t be as effective as those designed specifically for gaming, such as Symplify’s?
“Data and data insight. Outside the financial markets it is difficult to find another sector where data piles up so fast on one single user. To navigate and execute a successful CRM strategy you have to utilise that data. The shotgun send-out days are over, and have been for some time. Competition is high. Cost of acquisition is a burden. And retention in the time of the “multi-loyal” customer means that you have to take every single advantage when it comes to your CRM strategy. Symplify’s CRM Ecosystem empowers the end-user operator to create a multi-pronged CRM strategy with the data and skill sets that exist in-house.”
Operators often find it challenging to create and implement their own, tailored, CRM strategies. This often leads them to bring in external consultants, costing time and money. How does a product such as Symplify’s CRM help avoid this?
“Symplify leads the way in terms of CRM technology. With Symplify, operators are able to interpret their data, and, by using propensity from Symplify AI, accurately forecast where and when communication should be applied. Using Symplify Communication, a multi-channel solution enables them to laser focus messaging and communication in the right channel and at the right time. We’ve removed the need for any messy third-party integration. With one single login an operator can execute a sophisticated CRM strategy that draws on the entirety of their data, maximising effect.”
Using CRM systems to reach customers is just one part of the digital marketing puzzle. How can operators better understand their players’ profiles and lifetime value so that they can more effectively manage the customer journey?
“Complete visibility. When an operator is in possession of a complete overview of player behaviour, decisions become completely data driven organically. The algorithms of Symplify AI power an operator’s KPIs, without being a drain on their internal resources. Once they have data insight, the development of a rich and rewarding relationship begins with your players. Gone are the days of “do this within the first 30 days of a player’s lifetime”. Symplify atunes your CRM activity to each individual player, giving them varied and relevant messaging to enhance their customer journey.”
Creating a personalised experience–especially at scale–can be challenging for operators. How can new tech such as AI help to create a more granular approach? What are some of the more effective ways to create this experience?
“Having the advantage of relying on the most advanced AI Algorithms and pre-trained models, with a large database of transactions, means that the operator can hedge all behavioural data points to enhance marketing and player engagement experience. Symplify Onpage AI is a feature that we feel encompasses this, giving each individual player a bespoke lobby experience for sportsbook and gaming alike. Shorten the browse for the player, yet still deliver relevant content, and messaging and conversion will be increased.
“Tailoring the customer experience is one of the single biggest growth areas within the market. If every operator offering is identical to a lesser or greater extent, customer experience plays an absolutely pivotal role in retaining the operator’s active player base.
“A propensity-powered marketing communication strategy is used to combat churn, identify early VIP and create meaningful communication cycles that use lifetime value for full effect. Critically, it can also precisely identify responsible gambling behaviours and ensure players are able to enjoy the experience within a safe and controlled environment. A granular approach further pushes the excitement for the players through automated individual and personalised journeys. Everybody has their own behaviour and within that preferences that can be shared amongst other segments, which up until now was not visible.”
Collecting and feeding player data into multiple systems is very common in the industry. How will operators benefit from having all the tools necessary in one system? What’s wrong with the current status quo?
“Compliance, convenience, cost. The list goes on and they don’t all begin with C. Convenience is perhaps an understated description of what Symplify achieves. Work a day alongside a gaming CRM team and you’ll see just how pressurised it can be. Having a single platform to work with makes these teams much more effective and is far less stressful in terms of workload.
“Legislation, staying within the bounds of a gaming licence, is not just essential to your operation, but it can also be devastating financially to fall foul of a governing body. Adding more systems to the mix means the potential for breakdown is significantly increased. Plus, the more systems you have, the more administration is required with gaming authorities.
“In a simple explanation of cost, each system typically requires its own parameters. When you scale up, you need more platforms to cater for a more diverse player base. The cost soon adds up. But with Symplify costing is harmonised with each operator’s needs, enabling them to scale without incurring hidden costs.”
After speaking with Paul, it’s clear that the “shotgun send-out” days are over – and have been for some time. In order to really maximise, and take full advantage of your customer data, operators need to be able to take a more granular approach, which can be difficult when working at scale. However, new tech–driven by AI Algorithms and pre-trained models, with a large database of transactions–means that the operator can now hedge all behavioural data points to enhance marketing and the overall player engagement experience.
This has been made possible by the emergence of great new products from solutions providers such as Symplify and we’re looking forward to seeing the impact it has on our industry going forward.