The success of online money games largely depends on the effectiveness of their marketing operations. Gaming operators allocate huge budgets to marketing campaigns to acquire new players. Say we have successfully acquired 1000 new players through expensive campaigns, but what good comes of it if these players don’t make deposits?
If we fail to convert new registrants into first-time depositors, the marketing ROI will dip south. First-time deposits and the revenue generated by your platform are directly proportional. Hence a gaming operator should keenly focus on increasing their first-time deposit rate.
Please read this article to understand First Time Deposits and the seven best ways to improve your conversion rate with the help of our exclusive automation platform.
What are First Time Deposits?
First Time Deposits (or FTDs) in the gaming industry mean the first deposit made by unique players on a gaming platform.
Example: A newly registered player on an online casino who has made his first deposit of $10 is a first-time depositor on that platform with an FTD amount of $10.
Why are FTDs important?
The importance of first-time deposit rates (FTDs) cannot be overstressed. The first-time deposit ratio should be high for a gaming platform to thrive. Suffice it to say, one has successfully converted a window shopper into an actual customer only when the player deposits. When FTDs pick up the pace, it means your platform is acquiring good traffic. An increase in first-time deposit numbers directly reflects on your revenue. After making an FTD, the player is more likely to make consecutive deposits (loyal customer). Consequently, you can boost your GGR with increased FTD rates.
Challenges in converting newly registered players into FTDs
First-time deposits are a high priority for gaming operators but are one of the most challenging missions.
Some players enter a new platform only to exploit offers and bonuses. They usually abandon your portal in favor of the next to repeat the same.
The online gaming industry is a highly competitive space. Gaming operators spend tons of cash to acquire good players (the type of players who constantly make revenue for them). And even after shelling out thousands of dollars, operators usually end up with bad traffic.
So, what could be a plausible solution for increasing the conversion rate of first time deposits? Find the solution below!
7 best practices on how to increase the conversion rate of first time depositors in iGaming 2021
- Create a good landing page: A great user experience gives a remarkable boost to the overall performance of a gaming platform. When players feel that they are in a premium site/ app, they are more inclined to engage with the said platform. A smooth and attractive UI enables the deposit process to remain simple, thus pushing players to make their first-time deposits easily.
- Send automated messages to players in real-time: When a new player registers on your platform, send them a personalized greeting in real-time. How does it benefit your purpose? It’s straightforward. It’s about understanding your player’s needs, personalizing their gaming experience, and offering them apt guidance relevant to their situations and individual needs. Personalization allows you to take advantage of their intent, thereby leading to more excellent conversion rates alongside customer satisfaction. OptiKPI is a marketing automation platform that helps you completely automate this process, and send out personalized messages with deposit offers to all the newly registered players in real-time. Our system operates 24/7 for you and delivers messages automatically through multiple channels.
- Leverage player behavior: The preferences of players are challenging to foresee and subject to change. Under such circumstances, it is imperative to understand player behavior with the help of AI. Suitable games, bets, and content can be made viable upon implementing those learnings. You can easily ensure deposits from said players based on their movement on your website. We have discussed more on taking advantage of player’s behavior in this article: Taking advantage of player behaviour.
- Drive a sense of urgency: Influence the players’ purchase decisions. Deploy customized deposit that is prone to expiration within 24 hours. Doing so will create value in the player's eyes and push them into quick action. Increase demand by reducing the time to promote exclusive offers because people understand the actual value only when it comes with an expiry.
- Personalized front page: Make your players feel welcome through dynamic front pages. Displaying personalized content based on player behavior will boost first-time depositors' engagement and conversion rate. The last and most played games can be anchored on the wall to pull the players' attention immediately.
- Don’t forget the call to action: A Call to Action (CTA) urges a player to take a specific action on a website. Personalized CTA’s can promote relevant bonuses at the right time. Operators can use deposit callouts, and smart deposit presets to help improve their first deposit rate and deposit frequency.
- Increase player time: Maximize the players' time on your platform, and engage players with personalized and relevant content around the clock. Constantly recommend new games that they might be interested in, and make them feel at home to increase their playtime.
How do you implement all of the above?
To convert newly registered players into first-time depositors, the gaming operators require a high degree of understanding and real-time executions on a large scale. It is a process that requires substantial manual marketing resources and time. If you’re a company that manages all marketing tasks manually, it is implausible that you will hit the desired numbers.
To break the psychological barrier that stops a player from making his very first deposit, you need to employ an excellent marketing system. The type of marketing that is persistent enough to convert new users into seasoned players. At the same time, make sure that you’re not spamming their inboxes.
The solution is marketing automation platforms; they alone deliver solid results!
What are Marketing automation platforms?
Marketing automation platforms use technology to automate traditional marketing tasks. Gaming operators can leverage the power of automation tools for marketing their gaming products—target players with automated messages across push notifications, web pushes, email, and SMS. Quickly enhance your marketing flows and convert new players into 1st-time depositors. The system functions 24/7 and delivers messages and campaign results in real-time.
What is the best Marketing Automation Platform for the iGaming industry? OptiKPI.
OptiKPI’s Automation platform is the best solution for all your marketing challenges. It is exclusively designed for the online gaming industry; combined with the power of AI and behavioral targeting, it can boost your gaming platform's performance within a short period. The customization and automation of personalized messages will help a platform connect with players. It will help you capture a user's interest and target only what he is motivated by, thus improving the odds in your favor.
OptiKPI can be easily integrated into a Gaming platform as a marketing tool in four weeks and is highly user-friendly. All campaigns can be customized and automated in real-time. With 24/7 customer support from around the globe, OptiKPI guarantees uncompromised service.