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In the fast-paced world of iGaming, where quick wins often take centre stage, finding the right balance between short-term successes and long-term growth is crucial. As the industry continues to evolve, understanding how to maximise ROI through smart marketing strategies is more important than ever.

After visiting the NEXT Summit in Valetta, Alexandra Voronetskaya, the Chief Marketing Officer at EvenBet Gaming, highlighted seven key tips to balance ROI maximisation and client retention in iGaming. With robust marketing experience from the automotive, premium spirits, and real estate sectors to iGaming, Alexandra is adept at crafting strategies that significantly enhance market presence and business outcomes.

We collected all seven marketing strategies in one checklist. Learn the main tips and maximise your ROI!

Tip 1: Building a Brand: Playing the Long Game

The iGaming industry is young and often focuses on short-term marketing strategies. This approach can lead to quick wins but lacks the foundation for strong, lasting brands. Building a brand takes time—months and years of consistent effort — but the payoff is huge. Companies like EvenBet lead the way by integrating PR, targeted event presence, and a comprehensive brand strategy across all channels, including recruitment and customer success. Starting to build a brand now will skyrocket a company’s ROI in the next five years.

Tip 2: Balancing Short-Term and Long-Term Strategies

Every business balances both short-term and long-term strategies. In the rapid-fire world of iGaming, the focus often lands on immediate traffic and audience engagement, sometimes overlooking potential impacts on reputation.

However, a long-term approach emphasises building relationships and trust, which are key to a brand’s reputation. Early on, companies might invest heavily in brand recognition through sponsorships and PR campaigns. Over time, as the brand becomes more popular, these investments can decrease, with the brand maintaining itself through recognition and loyalty.

Tip 3: Harnessing Technology for Insightful Decisions

In today’s data-driven world, leveraging technology to track branding efforts within performance marketing is essential. Tools like omni-channel analytics allow us to track only digital footprint still. But at Evenbet Gaming we are focused on tracking offline client interactions via CRM systems, such interactions as demo sessions and event meetings.

Comprehensive analytics are crucial for tracking advertising campaigns and communication channels. Brand analytics tools, for example, can measure share of voice, helping to manage media presence and tailor communication strategies. This provides insights into how prominently a brand is featured compared to competitors. That is why we for instance dive deeper in SOV metrics and estimate precisely potential and targeted share.

Tip 4: Simplicity in Performance Marketing Metrics

When it comes to performance marketing, simplicity is key. Using a Balanced Scorecard approach, where metrics are straightforward and easy to control, can lead to more actionable insights. Metrics like click-through rates or lead conversions offer clear, immediate feedback that helps in managing and adjusting marketing strategies effectively.

Tip 5: Understanding ROI in a Dynamic Market

Calculating ROI in the dynamic iGaming market involves considering various factors, including market growth. It’s essential to understand how much of a company’s revenue is driven by the growing market where demand often outstrips supply. This highlights the need for additional metrics alongside ROI to effectively evaluate performance marketing. ROI serves as a financial metric, while KPIs can vary, such as the number of contracts generated relative to marketing spend. Distinguishing market-driven factors from investment-driven outcomes can be complex and time-consuming but is necessary for accurate assessments.

Tip 6: Where ROI Shines and Faces Challenges

ROI is particularly relevant in B2C contexts and for FMCG business, where metrics like cost per acquisition are clear and direct. Channels that allow for the calculation of unit economics, such as affiliate marketing and digital campaigns, benefit from straightforward ROI measurement. However, when the focus shifts to brand awareness, public relations, and influencer marketing, and for the B2B on the whole measuring ROI becomes more challenging due to the long-term nature of these efforts and honestly becomes almost impossible, that’s why it’s better to have a system of customised metrics such as CPC per event, or two conversion rates for both sales and marketing parts of the sales funnel.

Tip 7: Ethical Marketing: Building Trust and Reputation

In today’s climate, being ethical and promoting responsible gaming might not offer immediate revenue boosts but significantly enhances brand reputation. With modern consumers prioritising data privacy and security, brands that emphasise these aspects build stronger, more loyal customer bases. McKinsey’s research shows that many consumers will abandon companies that fail to protect their data or uphold ethical standards. Therefore, delivering on digital trust can lead to substantial benefits, including revenue and growth.

Conclusion

In conclusion, achieving optimal ROI in iGaming marketing requires a balanced approach that integrates short-term tactics with long-term brand building, leverages technology for comprehensive tracking, and upholds ethical principles to build trust. By embracing these strategies, iGaming brands can set themselves up for sustainable growth and long-term success in a rapidly evolving industry.

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