Gain insights from industry leaders as they dissect the power of network promotions in igaming, courtesy of Wazdan. Discover how these initiatives fuel player acquisition and retention, examine the key metrics driving success and explore the collaborative synergy between slot providers and operators. Dive into data-driven strategies that enhance engagement, ensuring a rewarding experience for all. Join us to understand the math behind the thrill of network promotions.
Participants: Andrzej Hyla, Chief Commercial Officer at Wazdan, Ivan Shastsiuk, Team Lead of Promo Managers at SOFTSWISS, Alexandra Domingo, Rewards Manager at Bally’s and Enrique Jimenez Reyes, Senior Casino Product Executive at Playtech & SunBingo.
CasinoBeats: How do network promotions influence player acquisition and retention?
Ivan Shastsiuk: First, let’s define what a “network promotion” is. It’s a collaborative promotional event that spans multiple casinos or gaming projects. These promotions are unified by a common prize pool and consistent participation rules, such as designated games, promotion periods, and minimum bet requirements.
Participating in these promotions has become essential for any casino. They significantly enhance the variety of bonuses and prizes players can earn for their activities. When a casino offers a wide range of promotions, players are more likely to stay longer and engage with the promos that appeal to them the most.
Usually, network promotions come in different forms like tournaments, random prize draws, “drop campaigns,” and cashback offers. For example, with a cashback promotion, if a player loses over 100 euro, they might get 10% back, which would be 10 euro. This not only helps soften the blow of a loss but also encourages players to keep playing.
Clients of the SOFTSWISS Game Aggregator who use the Tournament Tool can set up their own custom tournaments. They can mix in games from different providers, create unique tournament mechanics and prizes, and design their own custom looks. This flexibility allows casinos to experiment with different formats and really boost player engagement.
We’ve also noticed that longer tournaments, especially those broken into shorter stages (like a year-long tournament with stages every 1-2 weeks), tend to draw more interest. This structure gives more operators and players the chance to hear about the tournament and join in. Plus, the size of the prize fund is crucial – the bigger the prize, the more participants you’ll attract.
Andrzej Hyla: Network promotions are indeed a powerful tool to fuel player acquisition and retention. They create a vibrant atmosphere filled with excitement and opportunity. New players are drawn in by the prospect of participating in high-stakes and rewarding events. Existing players, meanwhile, are kept engaged and motivated to return for more thanks to the combination of substantial cash prizes, dynamic gameplay elements and the thrill of limited-time events with additional prizes. This engagement fosters long-term loyalty within the player base.
One particularly effective tactic is the award-winning Mystery Drop™ promo tool. Randomly granting cash rewards from a multi-million prize pool during gameplay provides continuous excitement and keeps players on the edge of their seats, ensuring they’ll be back for the next potential surprise. As Ivan said, the size of the prize pool is crucial for attracting players’ attention; therefore, Wazdan’s current network promotion covers a €4,000,000 prize pool, with the amount to be doubled by the end of 2024.
Alexandra Domingo: Network promotions are a pivotal element in operator marketing strategies. By focusing on tournaments, these promotions offer players the opportunity to engage with new games in an exhilarating environment, complete with enticing jackpots designed to capture any player’s attention. Players appreciate consistency and routine, and by regularly offering network promotions like tournaments, operators can significantly enhance player retention rates and acquire new players to the site who may be interested in these types of promotions.
Enrique Jimenez Reyes: Network promotions serve as a magnet for new players with exciting prizes and engaging gameplay. Existing players are hooked thanks to immersive and rewarding experiences and this buzz then spreads across casinos, attracting new players looking for their next favourite site.
Tapping into festive moods with holiday-themed promotions further fuels engagement, while competitive elements like leaderboards create a vibrant community where players strive to climb the ranks and win prizes, ensuring they stay engaged for the long term.
CB: What metrics do operators and providers use to measure the success of network promotions?
AD: The metrics vary depending on the type of campaign, but they are always the starting point. By defining the right metrics you aim to achieve, you can then design a campaign tailored to these objectives rather than building a campaign and then trying to fit metrics to it. Working in retention, when promoting network promotions, I look at game turnover, retention % and ARPU.
EJR: Network promotions target several key metrics to gauge success. These include attracting new players, keeping them engaged and playing for longer stretches.
Additionally, promotions aim to boost revenue from the specific games involved and elevate overall player activity through more game rounds and active player days.
Ultimately, a successful promotion increases the conversion rate of new players into regular participants, driving higher engagement levels across the board. Wazdan’s recent network promotion exemplifies this perfectly, with a surge in new sign-ups, longer active sessions and a significant boost in in-game revenue – a clear demonstration of the positive impact on these vital performance indicators.
IS: The leading indicator of any promotion’s success, including tournaments, is the Bet amount. Both the provider and the casino keep a close eye on this metric. Another no less important indicator is GGR (Gross Gaming Revenue). If the casino notices an increase in the bet amount during the promotion, it’s a positive sign, and the operator will likely continue participating in such tournaments.
Based on our analytics for November 23 – January 24, the SOFTSWISS Tournament Tool helped increase the bet amount by 4.2% during the tournament and by 9% after the tournament.
According to SOFTSWISS, the average daily bets per user increase by 22% with the SOFTSWISS Tournament Tool. More than twenty tournaments are held each month using this tool, and this frequency shows a significant boost in both Bet Amount and GGR.
To maximise player engagement and participation, operators should thoroughly prepare for these tournaments. Players should get advance notice about upcoming events, banners should be placed on the project website and social media channels. Additionally, creating a dedicated tournament page can help players easily find all the information they need.
AH: Wazdan has utilised a multi-pronged approach to gauge the effectiveness of network promotions. Key metrics from 2023 across all our promotions include:
- Player acquisition and retention: We witnessed a staggering 163% increase in unique active players, showcasing the promotion’s effectiveness in attracting new players.
- Engagement and activity: Tracking game rounds saw a phenomenal 248% growth, indicating high engagement and active participation from new and existing players.
- Revenue Growth: Total bets placed returned a significant 265% rise, demonstrating a clear correlation between the promotion and increased player activity with real-money wagers.
Network promotions are, therefore, a perfect tool for online casino operators to generate interest, improve conversion rates, reduce churn and, in result, boost their revenue.