In an economic climate in which it seems that every business is struggling, there are some that still thrive. Online bingo is an industry that has continued to grow and there are quite a few lessons that other UK businesses can use.
This growth is even more impressive when you consider the taxes that are enforced on the gambling industry. The tax levied is actually more when the industry as a whole is considered, which means it’s even harder for these companies to do well.
Bingo for money sites for UK players are noting an increase in their player numbers and overall spend, something which is rare for the time of austerity. They’re providing something that their players enjoy and don’t want to be without, at a rate that is considered reasonable. This is a basic formula for success but so many companies struggle to get it right.
Adopting technology is always risky business, as your investment into security, virtual reality or new designs might not pay off. The competitive nature of bingo sites means that they have little choice when it comes to upgrading or enhancing their offerings. A site that is seen to be less secure than another will not be successful, which is true of what users look for all over the internet.
Even though the house edge means that gambling is always tipped towards the provider, how you treat your players makes all the difference. The emphasis on customer service on bingo sites is huge, with many players feeling that one poor customer service experience could put them off for life. The difference between the bingo business and others is that they recognise that customer service must be excellent.
In the real world, poor customer service also impacts the level of custom an outlet will receive but most retailers don’t seem to recognise this. There are some that effectively ‘make it up’ to customers that are dissatisfied but they don’t change the process that caused the initial complaint. In the fast paced world of online bingo, sites that don’t adapt to their players are quickly left behind.
Bingo brands are also more likely to be accessible via social media and offer their users something for taking part. This is a two way street, as users get the chance to win something extra and the brands benefit from the engagement. They even offer customer service via these channels, which acts as a less formal way for players to get in touch.
This gives the brand a friendliness or warmth that many other UK businesses would love to benefit from. This in turn promotes brand loyalty and boosts the number of players being retained, which is one of the most difficult things to achieve in this industry. The returning customer is worth much more than the new one, as they statistically spend more money through their life cycle.
There are experts in the industry that study the player life cycle and the difference that can be made on it. They all do so with the end goal of extending it and cutting the cost of doing just that. The study of customers and their habits is much easier to carry out online but other businesses could be doing the same. Then they could tailor their offerings in the same way that these sites do.
All we seem to hear is that the climate in the UK is tough for business but with these lessons, businesses could make it much easier on themselves. Simple aspects like customer service and retention offers could be applied across the board to great effect.