Comparing iGaming and Retail Marketing

Toby Bonney, The Check with Joseki Tech

Adam: Hello and welcome to "The Check with Joseki Tech." I'm your host Adam Studley and today I have Jared Chase and Toby Boney with me to talk about comparing iGaming and Retail Marketing. We want to talk about how things are similar, how things are a little different and what we can learn from each other. Toby, do you want to introduce yourself?

Toby: Yeah. Hi, Adam. So my name is Toby Boney. I'm the founder of CRM Cumru. I've come from 17 years of experience within the iGaming sector. Eleven of those years focused primarily on CRM. It's good to be here today.

Adam: Thanks, Toby. And Jared, do you want to give us a couple of sentences on your background?

Jared: Yeah. Thanks, Adam. Hi Toby. Jared Chase here. I am Vice President of Marketing and Customer Strategy for Joseki Tech. I bring 20 years of experience to the table both on the partner and brand side. I really grew up in the email marketing and targeted marketing world, focusing a lot on customer loyalty. Happy to be here and have a chat with you today, Toby.

The Evolution of Personalization in iGaming

Adam: Sounds great. Toby, we all know that casinos in the old days were known for personalization, when it was simply about remembering your name and knowing you liked Jack and Coke when you walked up. How have they done as things have moved to the digital era? And where do you think the rest of us can learn from you guys?

Toby: Good question. From an iGaming perspective, as an industry, it's always been quite ahead of the curve. Over the years I've been within it, I’ve seen it evolve and develop. The most important thing has always been the desire to look at personalization and customer experience, and to leverage customer data. Whether it's physical preferences like a customer’s drink in a casino or digital ones like how they deposit—via card or e-wallet, whether they play casino, sports, poker or bingo, their wagering patterns, game experiences, wins or losses. The industry has been very good at collecting massive amounts of customer experience data to personalize their experience. It's not always been perfect, but as it evolved, it honed in on data-driven personalization. I believe many other industries are behind iGaming in this regard. I’m hoping Jared can confirm or deny this, but it feels like a lot of industries, especially retail, don’t have this heavy data analysis and the amount of information available to provide a personalized experience. Jared?

The Importance of Data in Retail

Jared: Yeah, I think there's certainly truth to that. What originally came to my mind, Toby, was how much time a company has to collect data and how much time a consumer spends engaging with a brand to collect that data. I have experience in retail, service, and travel. In the gaming world, you have customers that might show up once, twice, or three times a year.

Adam: Right.

Jared: One major factor is the frequency of interaction. How often do retail customers visit our sites? The average frequency might be only three or four visits a year, and those are the relatively engaged customers. For an Amazon-like entity, customers might interact daily. So, regardless of the industry, there are parallels between highly engaged customers and those with sporadic interactions. Even with perfect data collection—tracking cookies, integrated webhooks—if we only get three or four touchpoints a year, we have limited data for personalization and targeting. On the other hand, the importance of precision grows when there are fewer data points. Getting the content, reach, and messaging right becomes paramount.

Adam: And I do see that with our retail customers; we have to look out for predictive models and product suggestions based on shallow purchase histories. We need to consider page views, emails clicked, and other interactions to make our predictive models more robust. In iGaming, the continuous gaming activity generates richer, engaged behavior data, like deposits and interactions that are akin to purchases but with ongoing engagement.

Jared: Correct. And a deposit is a crucial interaction similar to a purchase in retail. It's not just a one-time sale; there's an ongoing relationship with real-time engagement that you can leverage.

Conversion and Engagement Techniques

Adam: Toby, are you targeting differently for those who have money deposited but haven’t been gaming recently? Is there value in exploring these customer segmentations?

Toby: Absolutely. The segmentation in iGaming is similar to retail. You have those who just browse, those who create accounts but don’t complete, those who make one deposit, and those who are regular. We segment and target accordingly. If someone looks at a certain page but hasn’t deposited, we aim to convert that first touchpoint into engagement. There’s also the challenge of contacting them given the different communication rules globally. As long as we operate within these rules, we can use these touchpoints to drive deposits and engagement.

Jared: From a retail perspective, we'd use coupons or product experiences for acquisition. Both sectors aim for engagement, whether it’s a first deposit or a purchase. Toby, your first KPI is deposits, and the second is encouraging gameplay. Do I have that right?

Toby: Yes. There are two aspects—peer-to-peer gaming like poker and bingo, and house-based games like blackjack and slots. Our goals are to ensure customers enjoy their experience and the company makes money. Deposits are crucial for verifying customers, and fewer companies now offer no-deposit promotions due to fraud risks.

Jared: Do you factor in age verification and other regulations?

Toby: Absolutely. Some companies use third-party systems for age verification, while others rely on the deposit method. It’s vital for responsible gambling. We also use tools like GamStop in the UK to block problem gamblers.

Strategies for Campaign Success

Adam: Toby, from a coupon perspective, we often use price drops, buy-one-get-one deals, and points back. Jared, are there any other tools we employ?

Jared: Product, price, and loyalty offers are key, but content is crucial too. Early engagement with valuable content that educates and excites the customer is essential. Toby, I imagine this holds true in gaming too?

Toby: Absolutely. No matter the offer—free spins, cashbacks, loyalty bonuses—if the product isn’t up to scratch, the long-term value won’t be realized.

The Role of AI and Granular Data

Adam: Toby, how does AI and granular data segmentation play into your strategy?

Toby: AI has revolutionized targeting. Modern CRM platforms use AI to identify and target the best customers with precision and timing. The more data, the better the segmentation and targeting. It's a hybrid approach, leveraging both event-based and AI-driven targeting.

Jared: Right, and profitability and customer satisfaction become critical elements in prioritizing engagements. Engagements can include personalized offers based on user history—whether it’s profitability, customer value, or satisfaction metrics.

Adam: The customer satisfaction piece can drive further engagement, especially if the gaming experience initially isn't successful.

Toby: Definitely, and it also helps in retaining customers. Even with a lot of data, having a robust strategy and good CRM tools can streamline operations. The key is knowing what you’re targeting and filtering the data accordingly.

Conclusion

Adam: We’ve covered a lot today—data-driven personalization, customer interaction frequency, and AI-driven strategy in both iGaming and retail. Thank you, Toby and Jared, for your insights. This has been "The Check with Joseki Tech." We hope our listeners gained valuable knowledge on leveraging data for better customer experiences. Until next time, stay tuned for more from tech and marketing experts.

Stay tuned for more enlightening discussions on "The Check with Joseki Tech."

In Summary

In this episode of "The Check with Joseki Tech," host Adam Steidley, along with Jared Chase and guest Toby Boney, delve into the intricate world of data-driven personalization within iGaming and retail sectors. Here are the key takeaways:

• Personalization Evolution: Casinos have long been trailblazers in customer personalization, transitioning seamlessly into the digital era with data-focused customer experiences.

• Data Depth in Retail versus iGaming: Retail often has limited touchpoints and relies on a broad range of data interactions, whereas iGaming enjoys more frequent, engaged user interactions translating into richer and more actionable data.

• Conversion Techniques: Both sectors employ tailored strategies to drive initial engagement—whether through deposit incentives in iGaming or coupons and content engagement in retail.

• AI and Segmentation: Advanced CRM platforms and AI are pivotal in identifying and targeting customers effectively, leveraging vast datasets for granular and personalized marketing.

• Customer Satisfaction and Retention: Achieving a balance between customer satisfaction and profitability is crucial, especially with data-rich environments that can sometimes feel overwhelming.

• Regulatory Aspects: Both sectors must navigate regulatory landscapes carefully, particularly around age verification and responsible gambling in iGaming.

  
  

Together, these insights highlight the critical role of data personalization and the unique but overlapping strategies that stakeholders in iGaming and retail can learn from and implement to enhance their customer engagement and satisfaction.