DIGITAIN


The next obvious question is, “What is the value of digital currencies?” Are they a fair means of compensatory economics? This can be subjective. For instance, consider the growth of digital NFT art or limited tokens that grant access to collections or allow cosmetic upgrades for avatars and gameplay. Some individuals may hold what can be described as a “digital can,” meaning their assets are worthless. This poses a commercial risk that both players and the Web 3.0 brand need to address. However, this risk is the same as that associated with fiat currencies, such as being paid in Euros and then converting commissions to USD.


STABLE COINS, DAOS, MARKETPLACES, AND REGULATION


I’ve often heard discussions about the abundance of digital marketplaces and tokens. Since the dawn of trade and commerce, human civilization has created various commodity marketplaces in the value exchange supply chain. While some marketplaces have thrived, others have faded away. The real issue is not the number of marketplaces but who controls the trading chain.


This is where decentralised autonomous organisations (DAOs) and blockchain technologies’ continued adoption and rise become significant. They empower like-minded individuals to utilise smart contracts that define the purpose of their exchanges without a single person or entity exerting control.


As new models emerge, the immense potential within Web 3.0 will drive the industry to innovate continually and satisfy the demands of digital customers and brands seeking to engage with those digital audiences using digital currencies or assets—we are already seeing this with social poker, social casinos, and sweepstake operations in the USA.


AI & ADVERSCIENCE AND THE DIGITAL ENVIRONMENT Digital marketing within iGaming has also been changing for some time. Why? Technology and the rapid expansion of Open AI with the likes of ChatGPT are driving wholesale changes in our innate learned behaviour, consumption, and interaction with our daily digital environment, with brands, products, services, and, of course, information.


TOO MUCH INFORMATION I’m sure you’ve heard or seen many presentations that we are in the attention or experience economy. The smartphone has


unleashed and empowered many of us, creating an attention deficit syndrome. With untold access to limitless information via ChatGPT, it has caused an equal and opposite effect of digital decision or cognitive overload.


Our brains now have attention or interest spans of seconds, which, perhaps with a move out of necessity to working from home, coupled with Zoom fatigue, certainly means we are time-poor, more irritable and confused by the relentless onslaught of messages, which may result in the wrong purchase decisions being made or bets placed. There are no official figures, but it’s estimated the average person may be exposed to anywhere between 6,000 to 10,000 advertisement interactions every day. But unlike IT, where you can scale your business by adding another rack of servers, we can’t add another rack of servers or another organic brain to assist, or at least not currently, that is.


With all these environmental factors, iGaming marketers, whether affiliate, product, acquisition, or retention-focused, need to embrace the discipline of neuromarketing and apply brain science to marketing, advertising, and product research, not solely rely on hallucinating from ChatGPT as the oracle of wisdom.


NEUROMARKETING VERSUS MARKETING


Many of my fellow marketers are quick to debunk neuromarketing, perhaps on the grounds of an ethical standpoint. The reality is that marketing is geared toward influencing people to buy. The internet is a vast experiment, and many giant behemoths have been collating big data on neuromarketing principles for some time. Our digital footprints of how the brain processes visual information and interacts with visual stimuli, as witnessed on many social platforms, including how social psychology impacts the conscious and unconscious processes relating to consumer choice and behaviour influences, attitudes and opinions.


Neuromarketing should be viewed as an opportunity to inform and educate about what’s going on in the target consumer’s brain and how the brain reacts and unpacks information to marketing stimuli in different contexts and channels. The goal is to ultimately show how the brain translates this information into consumer action decisions, such as registering an account and transacting.


NEURO DESIGN


We have all experienced the growth and business needs in UI and UX. Design is not


just a tactic or just doing A-to-B testing on your landing or conversion pages. It’s a strategic requirement and a strategy. While human creativity is a beautiful and wonderful thing, we shall see more of neuroscience pervading all facets of an iGaming operational business with the rise of neuro designers, neuro proposition managers and other hyperbolic terms, with skill sets that draw on psychology, aesthetics, AI, social psychology and advanced testing models that all combine to understand how the brain decodes information.


RESPONSIBLE GAMBLING We are already witnessing changes in how operators view their responsible gambling requirements, with the recent appointments of renowned experts from the scientific community in psychology and behavioural addictions to some well-known operator brands.


These businesses understand the need to look beyond data science to merely drive financial KPIs and look into the science behind neuromarketing. Why? Understanding the brain via neuroscience will unlock methodologies to attract the profile of a customer who, in the main, enjoys responsible gambling participation. It will also allow businesses to develop profiles and detection pattern systems to reduce placement, context, or advertisements that may result in customers being susceptible to gambling addiction behaviours. This shift towards responsible gambling is a positive step for the industry and its customers. With advancements in neuromarketing software, it’s very likely that in the not-too-distant future, this software will be a prerequisite within the operator’s elected tech stack or platform or provided by a third party in the same vein as how a vendor is selected for provisioning CRM solutions or an affiliate marketing provider.


THE FUTURE OF 2025


The future of digital gambling is not about more content in the form of casino games, more sports betting markets, giant technological steps forward, or seismic innovation shifts. It’s about the reassuring role of simplicity, reduction in betting choice, and the neuroscience that ensures products are relevant to consumers in a responsible gambling manner.


Neuromarketing should be viewed as an opportunity to inform and educate about what’s going on in the target consumer’s brain and how the brain reacts and unpacks information to marketing stimuli in different contexts and channels.


GIO NOVEMBER 2024 15


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