Engagement & Retention
Studies have shown that a mere 2% increase in customer retention has the same financial effect as a 10% decrease in costs. Moreover, the retention of existing customers costs, on average, five times less than acquiring new ones. To retain their customers and drive profitable growth, operators focus on increasing Customer Lifetime Value (CLV)—a fundamental metric in all sales-oriented businesses, either digital or brick-and-mortar. Online businesses have a great wealth of data concerning customer interaction with the portal or the app.
INTRALOT’s digital platforms offer all tools necessary to assist operators in designing, planning and executing robust and successful retention strategies that can spearhead growth. Leveraging the wealth of player behavioral information provided by our centralized Player Account Management system, operators can now use BI tools to predict churn and propose next-best actions for “risky” customers. Moreover, our online CRM experts work closely with operators to achieve set retention targets.
Customer engagement is also paramount in increasing CLV. Businesses can use customer engagement platforms and features to stimulate customer activity by offering promotions and bonuses tailored to specific customer needs. To keep players engaged, the entire customer journey through the portal or the app should be carefully orchestrated. INTRALOT’s online channels support such features as gamification, the meticulously designed UX, and customer journey orchestration, which drive engagement and increase player interaction with the products offered.
Rewarding loyal customer behavior also increases retention. A well-designed and implemented loyalty scheme can be a true game changer in terms of CLV increase. Our loyalty programs feature multi-tier achievements offering both short-term and larger, longer-term and more illustrious rewards (similar to airline ticket redemption points and loyalty-tier changes).