Gaming operators are expected to allocate huge budgets on marketing campaigns for grabbing the attention of new players. Say, we have successfully acquired 1000 new players, but what good comes of it if the players acquired through such expensive campaigns fail to make deposits? The return on marketing investment will dip south if we fail to convert new registrants into first time depositors. Simply put, 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.
In this article, we have covered everything on First Time Deposits and some of the best ways to improve your conversion rate with the help of a marketing automation platform that is exclusively designed for gaming.
What are First Time Deposits?
First Time Deposits (or FTD’s) in the gaming industry means the very first deposit made by unique player experiences on a gaming platform.
Example: If you’re a newly registered player on a popular online casino who has made his first deposit of $10 dollars, then you’re a first time depositor on that platform with FTD amount of $10.
Why are FTD’s important?
The importance of first time deposit rate (FTD’s) cannot be overstressed, in order for a gaming platform to thrive, first time deposit sum should be high. Suffice to say, one has successfully converted a window shopper into a real customer only when the said player begins depositing on your platform. When FTD’s begin to pick up pace, it means your platform is acquiring a lot of new valuable customers. Increase in first time deposit numbers will directly reflect in your revenue. Once a player makes his FTD, he is more likely to make consecutive deposits, thus converting him into a loyal customer. Consequently, your total revenue will expand consistently if you manage to increase your FTD’s at a gradual yet steady pace.
Challenges in converting newly registered players into FTD’s
First time deposits are high priority for gaming operators but is one of the toughest missions to accomplish.
There are people out there who wish to exploit offers and bonuses that are provided by a gaming platform, these kinds of users register on your platform with an intent to receive all the benefits that are on offer, only to abandon your portal in favour of the next in order to repeat the same.
It is well documented that online gaming is a highly competitive space, gaming operators spend tons of money to acquire valuable 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, the likelihood of which result in a failure to fulfill their FTD goals.
7 best practices on how to increase conversion rate of first time depositors in iGaming 2021
So, what could be a plausible solution for increasing the conversion rate of the first time deposits?
- 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 deposit with ease.
- Send automated messages to players in real-time: When a new player registers on your platform, send him/her a personalized greeting in real-time. How does it benefit your purpose? It’s very simple, it’s about understanding your player’s needs and personalising their gaming experience as well as offering them apt guidance that is relevant to the player’s situation and individual needs. Personalisation allows you to take advantage of their intent, thereby leading to greater conversion rates alongside customer satisfaction. OptiKPI is a marketing automation platform that helps you completely automate this process, send out personalized messages with deposit offers to all the newly registered players in real-time. The system operates 24/7 for you and delivers messages automatically through multiple channels.
- Leverage player behavior: The preferences of players are difficult to foresee and subject to change. Under such circumstances it is imperative to understand player behaviour with the help of AI. Upon implementing those learning’s, suitable games, bet and content can be made viable to them. Thereby ensuring deposits from said players on the basis of their movement on your website. We have discussed more about 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 customised deposit that is prone to expiration within 24 hours, doing so will create value in the eyes of the player and push him into quick action.Increase demand by reducing time to promote exclusive offers because people understand the real value of a product only when it comes with an expiry.
- Personalized front page: Make your players feel welcome through dynamic front pages. Displaying personalized contents based on player behavior will boost the engagement and conversion rate of first-time depositors. Last played and most played games can be anchored in on the wall to pull the players attention immediately.
- Don’t forget call for actions: A Call to Action (CTA) urges a player to take a specific action on a website. Personalized CTA’s can be used for promoting 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 time that the players are on your platform, engage target players with personalized and relevant contents round the clock. Constantly recommend new games that they might be interested in, make them feel at home and special to increase their playing time.
To 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 huge manual marketing resources and time, if you’re a company that handles all marketing tasks manually, it is highly unlikely that you will be able to hit those favored numbers.
In order to break the psychological barrier that stops a player from making his very first deposit on your platform, you need to employ a great marketing structure. The type of marketing that is persistent enough and highly engaging while manages to successfully convert new users into seasoned players, all the while making sure that you’re not spamming their inboxes.
The solution is marketing automation platforms, they manage to deliver solid results when it comes to marketing and conversions.
What are Marketing automation platforms?
Marketing automation platforms use technology to carry out marketing processes automatically. Multifunctional campaigns across multiple channels can be set up with ease. Gaming operators can leverage the power of automation tools for marketing their platform. Players can be targeted with automated messages across push notifications, web pushes, email and SMS. You can easily sweeten up your marketing flows and convert new players into 1st time depositors with the help of automation platforms. The system functions 24/7, for you to ease your marketing teams’ daily routines and all of your marketing reports can be analysed in real-time at the same place.
OptiKPI’s Automation platform
OptiKPI’s Automation platform is the best solution for all your marketing woes, it is exclusively designed for the online gaming industry, combined with the power of AI and behavioural targeting, it can boost any gaming platforms performance within a short period of time. The customization and automation of personalized messages will further help a platform to connect with your players more effectively than ever. It will help you capture a user's interest and target only on 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 a span of four weeks and is extremely user-friendly. Any and all campaigns can be customized and automated in real-time. With 24/7 customer support from around the globe OptiKPI guarantees uncompromised service.