blog address: https://elait.com/services/how-data-driven-strategy-is-driving-growth-in-the-igaming-industry/
blog details: A Bain and Company study shows that a 5% increase in customer retention can increase profits by 25% to 95%. That’s why it’s paramount for iGaming companies to pay attention towards loyalty and retention tactics leveraging Data Analytics.
In the Journal of Computer-Mediated Communication, an academic study points out that one of the most effective strategies for retaining users is engaging in social networks. It’s no longer an individual but a community & Gamers that participate in social networks in online games are over 50% more likely to continue playing a game than those that do not.
Let us take an example :
A virtual slot machine app, which has over 12 million social users and 2.5 million app downloads, uses social features such as sharing, gifting, and public tournaments to keep users coming back for more.
They maximise player retention by using a centralised data warehouse that keeps track of their users’ behaviour and measures the impact of all their social actions. The example illustrates that how usage of centralised data provides various iGaming Companies the major benefit of maximising the player retention.
However, it may not suffice to only rely on coagulating data at a single point. Proper interpretation and propagation across social channels are paramount to entice consumers to play games.
To know how gaming companies are leveraging data to choose the most appropriate social channels and using data effectively for gaming business growth.
keywords: Data Analytics, Gaming, Data Integration, Player Retention , Social Media Strategies
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