by Bryan B.S.
08 Jun 18
Since the beginning of time, consumers have been separated into classes according to their purchasing power and level of expenditure. Consumers who spend more are usually rewarded with better deals and exclusive benefits such as shorter waiting times or priority access.
This practice is known as reward or VIP programs and is widely used today by many industries, including the betting industry.
The truth is that it is a practice that works very well for bookies to increase the action on their betting site; in the following, we explain the reason why:
It's something aspirational
A good VIP program is structured to allow any person to achieve the status if he performs the necessary actions, in this case betting enough to become a VIP of the betting site. In this way acquiring the status becomes somewhat aspirational and as small goals are reached that bring the player more and more close to the status, the player motivation increases, so they increase the frequency of bets and increase the level of retention of the player with the betting site.
Treat me well and I will return
We all like to be pampered, and we go back to the places where they treat us better, this is the second reason why a VIP program works great to increase betting action, because if you treat very well and you offer great benefits to your VIPs these will return and they will keep making bets, In fact, a Bain Company study shows that increasing customer retention by only 5% can mean increases in profits of between 30% and 50%.
It is an opportunity to make a difference
The world of betting is very competitive, so one of the best ways to differentiate yourself from the rest is with a good VIP program, the benefits you offer can make your betting site unique and if the benefits are really good players will spread the word.
Players increasingly value the type of VIP program than the registration bonuses when choosing a betting site. The bookies that want to grow their business must dedicate time and effort in building a good VIP program that will enchant their players.
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