A Win-win Situation
Andrew Foster – Head of Business Development, Enteractive.
As we head into the last quarter of 2020, we may be thankful that this messed up year is coming to a close, but let’s not make the mistake of thinking everything will be back to normal in 2021.
While problems with Covid may still continue into next year, the C-word we should be considering is CHANGE. Change to the way our industry operates, change to the way we view the future, and most certainly change to the way we treat our most important assets – the players. And, of course, we must also pay attention to the changes being pushed upon us – by circumstance, by governments and regulatory bodies, and by the players themselves who are already calling out for something new, something fresh.
As I see it, the one thing that runs through this entire narrative is ‘trust’. We need to bridge the growing divides in our industry, between operators and the players, between regulatory bodies and the operators, and between the present and the future. In short we can all benefit from breeding more trust in each other.
The last ten years of growth in the iGaming sector have shown how successful this industry can become when we introduce positive transformation, and we’re now ready to make a new round of changes.
Why? Because of many things. Because COVID brought safe and fair play into sharp focus as the sector saw an huge increase in traffic, with populations across the world locked down at home and seeking new entertainment. Because populist governments have increasingly called upon gambling’s regulatory bodies to impose tougher restrictions on operators, despite a complete lack of understanding of the problems faced by the sector and players alike. And because the audience demands it – the players themselves need to be reminded once again that they are iGaming operators’ first priority, and not just a customer profile on some data farm in the Isle of Man, Malta, Gibraltar or elsewhere. Trust…
Trust can be the anchor point for all these issues, and should be the focus for the future of our industry. We can fix the problems highlighted by regulatory bodies across Europe and the world with greater trust and communication. But first we need to change how we approach these issues.
In recent years discourse and conversation have seemed drastically under-rated, or perhaps they have just been eroded by a lack of people listening – governments not listening to regulatory experts, operators not listening to the players, and very few hearing the ringing of changes that our industry needs to grow and move forwards.
Here at Enteractive, over the last ten years, we’ve made it our business to listen and, on behalf of our operator partners, to have meaningful conversations with the players. It pays dividends in terms of trust, loyalty, and increased traffic. Plus, our approach to responsible gambling sees us taking a role as first responders to any problems that the players may face by having one-to-one conversations with individuals – something that many regulatory bodies have already cited as a big step towards improving player safety.
What we’ve noticed is that the players want to hear from us. They feel more valued, more cared for, and are less likely to leave and churn over. (68% of customers will leave feeling under appreciated, states the American Society of Quality Control). As we enter conversations with the players, we get a great response. They’re interested to hear about new offers, they tell us about any concerns they have, they open up and allow us to get to know them better. And if you don’t know your customers, then you’re more likely to fail in giving them what they want.
Let’s not forget that time is still passing us by, and new, younger audiences will have a different set of needs and expectations to buy into the entertainment that our industry provides. They expect more from us, they demand greater authenticity from brands in general. Today’s Millennials and Gen Z audiences are largely interested only in those companies which prioritise a customer’s needs above their own bottom line, companies they can trust.
The 2020’s will be defined by a seismic shift in consumer trust, and this is probably more true for the iGaming sectors. Transparency, responsibility and communication will be the new currency not only when it comes to customer loyalty, but also in extending the ‘provably fair’ ethos of gaming companies when it comes to regulation in different markets. Trust should be the beginning and the end of everything we do. It will be our future and our success.
To those that think it’s too difficult or unrealistic, just come and have a chat with us here at Enteractive. I, for one, will be happy to talk you through how easy it is to make a difference. It won’t cost you a dime, a penny, or a cent, as companies with our business model only get paid when happy customers play. For an industry that exists on the basis of ‘the house always wins’, giving something back to the players may seem counterproductive, but, let’s be honest, that’s exactly what trust can deliver – a win-win situation. Better get used to it…
Andrew Foster is Head of Business Development at Enteractive Malta.
Enteractive is the industry leader in player reactivation, and the pioneers behind the (Re)Activation Cloud™, building bridges between operators and their players, and ultimately increasing player retention and loyalty by engaging with them in a 1-on-1 conversation.