How To Maximize Player Retention On Your Online Sweepstakes Software
Discover the benefits of maximizing player retention on your online sweepstakes software solutions. Witness the significant player retention strategies and factors influencing the player retention rate.
Table of Contents
Online sweepstakes casinos are a highly popular segment of online gaming right now. A sweepstakes casino is a part of social casinos. However, it is quite different from regular casinos. Unlike normal casinos, a sweepstakes casino doesn’t involve direct wagering of money. Instead, it uses virtual currencies to let players participate in various casino games on the platform. Such virtual currencies (like gold coins) are allotted to players for free when they sign up on the platform. However, players have the option to purchase more Gold Coins when they run out, in order to keep enjoying the various sweepstakes games available on the platform. This becomes the primary revenue stream for sweepstakes businesses.
The success or failure of an online sweepstakes platform depends heavily on the number of players engaging in it. However, merely onboarding a huge number of players through marketing and promotional events will not benefit your business unless you can make them stay longer and convert them into committed and regular players who spend money on buying Gold Coins.
This is why, player retention is the lifeline for any online sweepstakes casino. Platforms with a low player retention rate will end up spending a fortune on marketing endeavors, but not experiencing good ROI. Here in this article, we’ll discuss everything that you need to know about how you can maximize sweepstakes customer retention on your online social sweepstakes casino platform.
But first, let’s start from the basics.
What Is Player Retention
Player retention refers to the percentage of players on an online sweepstakes casino who return to the platform after a certain period of time. In simpler terms, it denotes the number of returning users (as opposed to unique visitors) who come back frequently and engage on your platform for long periods of time.
Player retention is very important for an online sweepstakes casino because its revenue generation and overall reputation directly depend on it. A business cannot succeed entirely on one-time visitors, rather, it is the repeated and long-term loyal visitors that help an online sweepstakes casino business grow.
Now that we know what player retention is, let’s explore all the benefits it delivers for your business.
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Benefits Of High Player Retention Rate
For an online sweepstakes casino platform, having a high player retention rate is of supreme importance. From its reputation to the average LTV (Life Time Value) per player, many important success metrics of an online sweepstakes business depend heavily on player retention.
Here’s a list of benefits that come with a high player retention rate.
Cost Effectiveness
Player onboarding is a costly task, considering the amount of money a business needs to spend on marketing and advertising at various stages of its journey. However, once a new player is successfully onboarded into your platform, it becomes much more cost-effective to retain him. There is no need for repeated marketing efforts and since the player becomes familiar with the platform, it becomes easier to drive him through the next stages of the sales funnel.
Competitive Edge Out Of Customer Loyalty
Building your business on the basis of loyal customers will give you an unmatched competitive edge over others. Players loyal to your platform won’t be highly interested in exploring other competitor platforms. Hence, you’ll enjoy their exclusive attention and enjoy a competitive edge over others.
More Life Time Value Per Player
Player retention also increases the LTV (lifetime value) or the amount of money a player spends on your platform in the whole lifetime. This is because users become long-term players when they are completely satisfied and happy with the platform, and place their trust in it. Hence, they tend to spend more on a single platform rather than exploring other options.
Better Growth
Sweepstakes customer retention supports business growth in a significant way. It ensures a steady increase in customer count as well as revenue generation. By enhancing customer loyalty, it encourages new product development, drives constant improvements based on customer feedback, and supports organic growth.
Word-Of-Mouth Publicity
Loyal and long-term customers are also the best publicists for your business. Happy and satisfied customers will recommend your platform to others and spread positive word-of-mouth publicity which will in turn attract and retain even more players.
Feedback & Improvement
Long-term players also help improve your services by providing genuine and honest feedback. Working on those feedbacks will give you a chance to rectify the mistakes and fill up the gaps in customer service. This will result in an overall enhanced player satisfaction level.
Now we can clearly understand why player retention is the key to success in the sweepstakes casino business. Hence, developing strategies to enhance the player retention rate is highly important for a business. For that, first we need to discover the factors that influence player retention.
Factors Influencing Player Retention
In order to build successful sweepstakes player retention strategies, we should identify and work around the factors that influence the player retention rate. Here are the key factors that directly contribute to player retention.
Customer Service
Superb customer service is highly important for player retention. When customers get round-the-clock assistance over any issues that might occur, and their problems get quickly resolved, they will feel happier to stick to that platform and spend more money. Whereas, a platform with poor customer support will reduce customer satisfaction and increase the churn rate.
Variety Of Games & Uniqueness
A sweepstakes casino platform that offers unique games that players don’t find elsewhere will also experience better player retention rates. Not just uniqueness, but online sweepstakes casino players also look for variety and options. Hence, offering a huge number of games under the same platform will work in your favor.
Rewards & Bonuses
Everyone loves free stuff, and so do the players of your online sweepstakes casino. Having a lucrative bonus module in your system will help you increase engagement. Besides, setting up several in-game challenges and tournaments, and rewarding the successful players will significantly increase player engagement rates that will eventually lead to enhanced sweepstakes customer retention rates.
Social Engagement
Social engagement features also contribute to customer loyalty. Hence, offering chances for community and social engagements will enhance the social engagement meter and make customers stay loyal to you.
Now that we have figured out all the factors influencing the player retention rate, it will be easier for us to formulate useful sweepstakes player retention strategies for the same.
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Player Retention Strategies
Enhanced player satisfaction is the key to forming successful player retention. Here is a list of tried-and-tested sweepstakes player retention strategies that will significantly impact the player retention rate of your online sweepstakes player retention platform.
Great First Impression
The very first impression that a player gets from your platform by browsing through it, creates a lasting impact on his mind. Post the first impression, the onboarding experience is also a very important deciding factor for players. So, focus on making it quick and easy by keeping the process simple, and fulfilling by offering a nice onboarding bonus.
Stunning & Seamless User Interface
An attractive User Interface impresses and attracts players. A simple and organized, easy-to-navigate layout helps users find what they’re looking for very fast, and creates a seamless experience for them. It also makes it easier for players to explore all of the platform’s features and offerings.
New & Exclusive Games
Offering new and exciting games exclusive to your platform will also help increase the player retention rate. Players who have been there on your platform for a long time, might not find it appealing anymore, with the same kinds of games and no new offerings. So, in order to keep them interested and engaged, introducing new games from time to time is very important.
Lots Of Options
Not just new and exclusive games, but make sure that you offer an ample number of options for players too. Different players might have different interests and preferences. Some might prefer slot games on various trendy themes, while some might enjoy a live session of Bingo. So, bringing in games from different categories and different varieties should be another priority for you.
Social Engagements
Lots of players engage in social casinos like online sweepstakes to enjoy the social and communal vibes associated with them. So, features like live events, chat rooms, tournaments or leaderboards, multiplayer gaming, etc. are ardently liked by them.
Community Engagement
To further enhance the social appeal of your sweepstakes player retention platform, you can create online communities and encourage users to join them to interact with like-minded people, exchange ideas, swap in-game assets, play together, and more. You can also encourage them to post user-generated content and offer exciting rewards in exchange.
Personalized Experience
Personalization can enhance player engagement and player retention rate very well. Tailoring content, game suggestions, bonuses and deals, etc. based on a player’s activities and preferences will go a long way. It will make them more interested and get them to spend more on things that are highly relevant for them.
Attractive Rewards & Bonuses
Free and bonus offerings are another deal-maker for players. Introduce stunning bonuses such as sign-up bonuses, daily login bonuses, first-win bonuses, etc. Also launch in-game challenges, tournaments, spinning wheel, lucky draw, etc. to facilitate players to win attractive rewards.
Competitive Play
Creating a competitive environment for players and integrating several competitive elements will successfully increase player engagement and player retention rates. Elements like leaderboards and tournaments create a thrill for players and they play more passionately to grab the winner’s reward.
Tiered Loyalty Program
VIP programs or tiered loyalty programs are also highly fruitful ways of enhancing player retention rates. Introduce the VIP tier system and let players climb up by playing and engaging more on your sweepstakes platform to enjoy better privileges, tailored deals, and more.
Gamification
Gamification is another tried-and-tested method that keeps players interested for a long time. It involves gamifying the non-gaming or mundane elements of your platform to make them more interesting. For example, offering rewards for successfully filling out the KYC form, or first-time making a gold coin purchase will make these activities more interesting for players.
User Feedback & Excellent Customer Service
Excellent customer service is non-negotiable for player retention. Paying attention to players’ pain points and providing quick resolution to their issues will make them feel valued, and will improve player retention. Further, working regularly on feedback and reviews left by loyal and regular players will in fact give you a chance to improve the offerings of your sweepstakes player retention platform. This will lead to more positive reviews and increased word-of-mouth promotions.
Transparency, Fairplay & Secure Platform
Offering a sweepstakes casino platform that is highly secure, promotes transparency, and follows all the fair play rules and regulations will increase the trust factor in the minds of the players, and you’ll see more players sticking around.
Notifications & Alerts
Finally, keeping players informed and reminding them to play from time to time will help reduce the churn rate and increase the player retention rate. Send personalized push notifications, SMS, and email alerts to players to remind them to come back and play, collect bonuses, or try new games.
After formulating player retention strategies, it is also important to find out whether these strategies are working in your favor or not. For that, we need to look into various metrics that directly or indirectly indicate the player retention rate.
How Can GammaSweep Help In Player Retention?
Metrics To Measure Player Retention Rates
After incorporating all these player retention strategies, how will you make sure whether these are working for you or not? For that, you’ll need to measure the following metrics regularly and analyze the data effectively.
Here’s a list of important metrics that directly or indirectly reflect on player retention rates.
Retention Rate
This is the percentage of players that return to your platform after a certain period of time. It is measured directly as well as through other metrics that we’ll discuss here.
Churn Rate
The churn rate is the opposite of the retention rate. It is the percentage of players that abandon your platform after a certain period. A high churn rate is a red flag for your business.
Daily & Monthly Active Users
DAU (Daily Active Users) is the number of unique players interacting on your platform each day. MAU (Monthly Active Users) is the number of unique players interacting on your platform each month. Comparing these two will give you an idea about whether you’re retaining more players or losing them.
Session Length & Session Frequency
Session length is the average duration of each session for each individual player. Session frequency is the number of sessions within a certain time period for each player. The higher these metrics are, the better the chances of player retention.
Life Time Value Of Players
Another important metric related to player retention rate is the LTV or lifetime value of players. This indicates the amount of money each player spends on the whole lifetime spent on your casino. One-time players have no or very low LTV, while long-term players tend to have high LTV.
Player Progression
Player progression is another indicator of player retention. Identifying how many players are playing higher levels of the games, or leveraging the higher tiers of the VIP system will give you a thorough idea about player retention rate.
Key Takeaways
- Player retention resonates with the dedication, trust, and loyalty of the players towards the gameplay platform.
- The crucial benefits of high player retention rate are competitive image, credibility, word of mouth, reputation, cost-effectiveness, better growth, and so on.
- Factors influencing the player retention rate are customer service, social engagement, rewards and bonuses and variety of games.
- Metrics to measure player retention rate are churn rate, player progression, life time value of players, retention rate, and subscription plan availed.
How GammaSweep Can Help In Enhancing Player Retention Rate
GammaSweep is a top-rated, ready-to-launch, turnkey sweepstakes platform solution for online sweepstakes businesses. GammaSweep is built in a way that promotes high player retention and enhanced player satisfaction. With stunning in-built features like bonus modules, social media sharing, live and multiplayer gaming, VIP programs, etc. it makes sure that players find it highly interesting and engaging. Further, with a 24/7 available tech support team that offers quick resolution of any user issue, it performs a great job in customer service.
Moreover, GammaSweep partners with 50+ top game providers worldwide and provides access to 3000+ top-rated and trending games, offering an unmatched player experience. With all these factors combined, GammaSweep performs an excellent job in player retention which results in high revenue generation for your business.
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Frequently Asked Questions
What is GammaSweep?
GammaSweep is a ready-to-launch, turnkey sweepstakes casino platform that offers complete front-end customization, brand-specific customization, and bespoke 3rd party integrations to help you develop a platform that’s perfectly suitable for your business requirements.
In how many weeks GammaSweep can be launched?
GammaSweep is a ready-to-launch sweepstakes platform that offers bespoke front-end customization for a unique appearance. Based on the level of customization, GammaSweep can be ready for launch in 4-6 weeks.
Are Front-end customizations and 3rd party integrations possible with GammaSweep?
Yes. GammaSweep offers complete front-end customization as well as bespoke 3rd party integrations.
Is GammaSweep compliance with US laws?
Yes. GammaSweep is completely compliant with US laws.
What services do you offer?
GammaSweep offers on-demand front-end customizations, 3rd party integrations, and add-on post-launch services.
What is player retention and why is it important?
Player retention is the percentage of players that come back to your online sweepstakes platform after a certain period of time. It is important because it denotes the number of repeat players accessing your platform, and possibly spending money to boost your revenue.
Player onboarding vs. player retention- which one is more important for a sweepstakes casino platform?
In the case of an online sweepstakes casino, both player onboarding and player retention are highly important metrics for its overall success, and one is incomplete without the other. Merely onboarding a huge number of players will not generate lots of revenue unless you can make them stay for longer, engage more, and spend more. Similarly, without onboarding new players, your business cannot solely depend on the existing number of players since it will not scale your business.
How do you measure player retention rate?
There are several metrics to measure player retention rates, such as daily and monthly active users, churn rate, session length and frequency, player progression stage, lifetime value of players, and so on.
Does GammaSweep help in player retention?
Yes. GammaSweep is a comprehensive online sweepstakes platform that comes with several features and functions that help in player retention, such as daily bonuses and rewards, a VIP tiering system, social media sharing, live and multiplayer gaming, an excellent customer service team, push notifications, numerous gaming options, and more.