Your customers have a greater choice of companies to place their bets or game with than they ever have done before. You can’t go anywhere without seeing or hearing an advert for a gambling or gaming company, with digital ads offering live odds to get that instant custom.
In such a fiercely competitive market, it’s more important than ever that you keep hold of the customers you already have, keeping them spending their money with your business rather than being poached by your competitors (which you know your competitors are trying to do, because you’re trying to poach theirs).
According to the Harvard Business School, increasing customer retention rates by 5 percent can increase profits by 25 to 95%, and it’s well known that it’s both easier and cheaper to sell to an existing customer than to a new one, so a base of happy, satisfied and engaged customers is one of the greatest assets your business can have.
So how do you build this base of super customers? Ideally, you’d want to use a marketing channel that allowed you to reach customers instantly; bypassing the ads of your competitors, while also providing a means to easily engage in conversations with your customers in order to build a stronger relationship. This is where SMS comes in.
SMS might not be the newest technology, but it’s still relevant for customer retention. Open and read rates eclipse other channels, with over 97% of messages opened within 5 minutes (Ofcom). Like with email, two-way communication is easy, but unlike email, it’s likely to be quick too, and the personal nature of a text lends itself well to relationship development.
Effective communication can make all the difference, as creating a two-way dialogue with your users allows you to discover key pinch points and irritations in the customer journey. Whether it’s a simple query or a mobile feedback form that allows for richer data collection, our Messenger platform can support you.
Loyalty schemes are a tried and tested way of increasing consumer engagements, and it’s now possible to run a loyalty scheme entirely through Messenger using SMS vouchers – ideal for those who don’t have the functionality built in to their sites or apps already.
If you’d like to find out more about how you can use SMS to increase your customer retention, we have a selection of industry specific guides available. For specific enquiries or a quote for your gambling and gaming business, you can contact me directly on 01244 573257 or by emailing email@example.com.
Textlocal will be exhibiting at the ICE Totally Gaming show at the ExCeL London from 2nd-4th February 2016. Come and see us at stand SD-7D!