DATA, INSIGHTS AND AI
Data, insights and AI – iGaming in the age of decreasing brand loyalty
Andrew Fairbank, FullStory’s VP EMEA, highlights how iGaming brands can use data and insights to stay ahead of the competition.
T
hree years on from the first COVID-19 lockdown, talk of the ‘new normal’ is still common. But it’s hard to overestimate the impact it’s had on the way that iGaming brands engage with their customers. Advancements in areas such as payment solutions have allowed brands to become more innovative, creating more competition and heightening user expectations regarding the services they receive.
But new innovations and greater choice have shifted consumer loyalty. No longer loyal to one specific brand, FullStory’s recent survey of global consumers found that 38% of today’s iGaming customers “don’t care” where they play, “as long as it works.” The data also suggests that 77% of customers prioritise fast and efficient performance from iGaming websites and apps. When you combine that with the fact that 96% of customers emphasise the importance of excellent customer service for their loyalty to a brand, then the relationship between seamless experiences and the company’s bottom line becomes clear.
USER EXPERIENCE EXPECTATIONS ARE HIGHER THAN EVER
Despite iGaming customers yearning for simplicity, research shows that just over a third (37%) of customers consider their experiences on iGaming sites and apps to be positive, indicating a disconnect between brand offerings and consumer expectations. Consumers can be quite ruthless, with two-thirds (65%) admitting to abandoning a transaction if they encounter even the slightest problem, highlighting the importance of providing a seamless customer experience to retain customers and foster brand loyalty. While iGaming brands invest significant sums on loyalty incentives like sign-up bonuses, free spins, and money-back offers, the data suggests this is not where the battle between brands is won. Consumers will ultimately stay loyal to brands that can provide frictionless experiences that allow them to play without encountering any obstacles or delays.
UNDERSTANDING YOUR CUSTOMER
While providing simple and effective digital experiences are undoubtedly key to success,
the challenge for iGaming brands often lies in understanding where they are failing to live up to customer expectations.
Research shows that nearly half (43%) of consumers will abandon a website or app without giving any feedback at all. This lack of communication can make it challenging for companies to identify and fix these issues without visibility into where they are letting customers down.
Digital experience intelligence (DXI) can help iGaming brands to elevate their online experiences, retain customers, and boost their revenue. DXI collects and makes sense of comprehensive user experience data so brands can uncover frustration signals like ‘rage clicks’, which can pinpoint the areas where customers are struggling. Insights like conversion impact analytics can show brands how much revenue is lost due to poor digital experiences.
HOW DOES THE FUTURE LOOK? Like many other digital industries, the emergence of AI technology and machine learning is already playing a big role in the world of iGaming. Developers are using AI to automate code-writing and quality assurance, customer service teams are using AI-powered LiveChat to answer queries, and sportsbook departments are using AI to automate betting line mapping. All these use cases have been shown to improve efficiency, streamline processes, and ultimately improve the customer experience. While it is currently unknown to what extent developments in AI will alter the gaming industry long-term, its integration with DXI for iGaming brands is a very exciting prospect. AI has the potential to take personalisation to the next level by customising adverts to be specific to the interests and preferences of a single user rather than a certain demographic creating ultra- tailored experiences.
INTELLIGENCE AND INSIGHT – THE KEY TO POSITIVE CUSTOMER EXPERIENCES
While the iGaming landscape will likely be shaped by technological advances over the next few years, brands that maintain a clear focus on understanding their customers – while embracing new technology – are the ones that will provide seamless experiences that foster long-term customer loyalty.
GIO MAY 2023 9
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