Sonny Cott, Chief Operating Officer at beBettor, explores how UK-facing operators can boost gross gaming revenue (GGR) by personalising deposit flows.
Why are first-time deposits such a crucial measure for operators?
UK-facing operators are experiencing some of the toughest market conditions in recent memory, with many commercial headwinds. But by growing the value of first-time deposits (FTDs), they can recoup marketing customer acquisition costs (CAC) faster, and generate consistently higher returns in the long-term.
First-time deposits set the tone for the entire customer journey. Research conducted by Cambridge University suggests the value of a player’s first deposit is the key indicator of their lifetime value. It provides operators with a critical window onto a customer’s potential lifetime value.
Yet the way many operators handle FTDs today is limiting, both for the player and themselves. That’s something we’re working to change. While operators are investing massively in personalisation across almost all areas, including marketing, promotions and gameplay, they often overlook the very start of the customer journey – the deposit screen itself. According to McKinsey, companies that personalise their user’s experience drive 40% more revenue than their counterparts, yet this crucial pre-deposit moment is often neglected.
How does beBettor’s WealthScore help streamline the customer experience at the deposit stage?
WealthScore is our proprietary tool that benchmarks an individual’s wealth against the GB population . When deposit suggestions are set too conservatively this can limit revenue potential in the long term. Instead of treating all players the same at the onboarding stage, WealthScore provides operators with evidence-based insights that can differentiate between players’ ability to spend. By providing wealth scores from 1 to 10 for every player, operators are able to increase the personalisation of the deposit screen tenfold, enabling significantly more effective onboarding.
Armed with our scores, operators can adapt their deposit UX to make precise deposit suggestions that reflect the player’s wealth. The result is a smoother, more personalised onboarding experience, where players feel understood, but which critically can significantly uplift average first time deposit amounts..
What is the impact of personalising first-time deposit suggestions?
WealthScore enables ‘smart depositing’, which is our solution to a longstanding problem of one-size-fits-all onboarding. It allows operators to maximise first-time deposits without additional bonusing.
High capacity players can be offered higher, data-backed deposit suggestions, maximising conversion and encouraging players to deposit at levels in line with their financial comfort. For example, players with higher wealth scores might be shown default deposit options of £50, £100 and £250, whereas less wealthy players might see more suitable initial deposit prompts of £10, £20 or £50.
According to research by Fullstory, friction at the deposit stage is a key painpoint, adding further rationale for more personalised deposit flows. Armed with WealthScore operators have another key tool in their armoury to help address the commercial and technical headwinds they are facing.
The post Maximising first-time deposits through smarter personalisation appeared first on G3 Newswire.
Sonny Cott, Chief Operating Officer at beBettor, explores how UK-facing operators can boost gross gaming revenue (GGR) by personalising deposit flows. Why are first-time deposits such a crucial measure for operators? UK-facing operators are experiencing some of the toughest market conditions in recent memory, with many commercial headwinds. But by growing the value of first-time…
The post Maximising first-time deposits through smarter personalisation appeared first on G3 Newswire.