Disloyal loyalty program or how best not to run 22 billion dollars business
Imagine that your competitors were unable to attract new customers this year! It would seem great for you and your business. These are new potential customers, which are easily lured to better service and offered services. After all, annually you invest thousands of euros in attracting new customers, as well as in further loyalty program. But it is because of the lack of the employees’ effective work and lack of proper information about the benefits of your services; these customers have not become your customers.
This is a story about one of the companies whose industry turnover in 2018 amounted to 22 billion dollars.
This business is becoming more and more profitable, and competition in this area is growing, too. Founded centuries ago, it is not only not dying, but still a thriving and constantly evolving industry. This happens due to the fact that excitement and desire to win are the same eternal human needs such as communication. It is a form of personal self-expression. Perhaps, you have already guessed what we were going to talk about – of course, about bookmaking. This is a highly profitable area, which brings profit straight after starting up the activity. Today, opening up your own bookmaker’s office is a profitable investment with a good perspective for the future. And since there are no legal alternatives in many countries, the stakes are a good platform for further development of the business and making a big profit.
Bookmakers’ offices know everything today. This is an industry with its deep history, game rules, heroes and pitfalls.
Integral guarantee of the profitability of a betting company is a perfectly functioning analytical department. But even such companies lose a lot of money, which is proved by the research conducted by Scheduling Worldwide.
According to our research in the company:
- Only in 0.43% of cases, consumers are told about the loyalty programs, and the picture for six months of the current year has become even worse.
- 57% of clients make negative statements about the staff work: employees do not negotiate with the customers, they are not client-oriented and indeed are characterized as indifferent, impolite, not interested in sales or providing good service.
Customers seldom become brand lovers just because of a nice seller or non-standard advertising. Usually, loyalty is influenced by several factors. As our research shows, 70% of customer experience is based on how a client feels that he has been treated.
Below there are main three components that should be included in your cx strategy and answer the question ‘How to improve the customer’s experience’:
- An in-depth analysis of the customer’s procurement data helps to identify goods and services that are potentially of interest to the customer. The main condition without which we cannot talk about loyalty is a high-quality product. If a person does not like a product, no ideas will work.
- Knowing what exactly influences the outgoing flow and how users react to the product itself plays a huge role in involving and reducing the outflow. 88% of our clients included CX as an integral part of Global strategy.
- The customer service should now attract new and fresh ideas: useful, interesting and profitable. It is necessary to use modern technologies and methods of work in their sphere.
But not all companies are ready for this stage. Before you start reforms in the field of service, it is necessary to analyze the previous service provided and ask the opinion of consumers. After having compared the data, it would be possible to make a decision on new formats of service and maintenance. Any new strategy does not cancel the observance of basic standards of cleanliness, speed, and quality.
In order for the customer to be very satisfied and very loyal, several steps need to be taken:
- First of all, it’s just good to start working. Banal satisfaction of the company’s clients already attracts them to you. It is necessary to start from the very beginning: to make business processes, personnel and products normal.
- The second one is to establish a loyalty system. Issue of discount cards, attractive pricing policy, special offers and bonuses – these are additional things.
If you have more loyal customers – approximately 10-15% of a total base, then a company gets a regular income. Constant income allows you not to chase new customers all the time. Thus, you have time to develop and test new ideas.
What ways of promotion of a betting company are considered the most effective today?
For our clients, we offer solutions that help to build a unique interaction between their customers and their brand. To get acquainted with the full list of services, please, do not hesitate to contact us, and we will suggest exactly what suits you!