Addressing Player Retention Challenges in the iGaming Industry

Styliana Kalogreadou, the Head of B2B iGaming at Soft2Bet, sheds light on the critical issue of player retention within the iGaming sector. In a conversation with the manager at SiGMA Malta Europe, Kalogreadou delves into the strategies that operators can employ to attract and retain customers. She also discusses how Soft2Bet contributes to the industry through its product development and global expansion efforts.

The iGaming industry's yearly calendar is filled with numerous conferences and events globally. Why is attending SiGMA Malta Europe important for your company?

Soft2Bet has robust global expansion plans, having acquired multiple licenses this year with more in the pipeline. As a result, having a strong presence at major international conferences is crucial for us. There are several events throughout the year that are essential for reaching the international market, and SiGMA Malta Europe is always a top priority. Malta, being a global iGaming hub, makes this event particularly significant, and we were excited to participate once again.

We are navigating a new digital era. How has this impacted the mindset of the average consumer, and how can Soft2Bet assist operators in adapting to the new generation of players?

Soft2Bet is attuned to the shifts in the current consumer mindset influenced by the ongoing digital transformation. Continuous analysis of industry trends and changes is paramount, considering the evolving expectations of bettors. By closely examining and tracking the customer journey, we aim not only to meet but to surpass player expectations. Introducing innovative elements across all our brands, one noteworthy product is Motivational Engineering, our gamification technology designed to enhance key industry metrics for operators. This groundbreaking technology, highlighted by our CEO Yuri Polyavich in his SiGMA speech, focuses on the significance of screen time, demonstrating how our MEGA (Motivational Engineering Game App) can substantially boost scores, nearly quadrupling the average.

In the face of escalating market competition, addressing player churn poses an ongoing challenge for operators. How can innovative gamification-based products play a role in attracting and retaining customers?

At Soft2Bet, we term this approach "motivational engineering," aligning with the industry's conventional understanding of gamification. We have dedicated substantial effort to this initiative, crafting a product that enables players to engage in activities like collecting cards, participating in hourly tournaments, and even constructing virtual cities or stadiums. Through the implementation of motivational engineering features, we have observed a consistent trend where players deposit more funds and actively strive to attain specific levels. Social factors play a significant role in enhancing this gaming experience, further facilitated by our player-to-player messaging systems.

Our commitment extends to closely monitoring key industry trends, providing us with a nuanced understanding of critical key performance indicators for both our existing clients and potential partners. The transformative impact of motivational engineering on customer retention is evident in the success story of our Betinia brand in Sweden. The gamification features implemented at Betinia have yielded impressive outcomes:

• A noteworthy +65% increase in average Gross Gaming Revenue (GGR) in comparison to non-gamified brands, capturing 60% of players.
• Active participation of 52% of Betinia players in embracing gamification.
• A substantial 50% contribution from players in terms of significant amounts.
• An observable surge of 30% or more in the frequency of deposits.
• A commendable increase of over 70% in Average Revenue Per User (ARPU).

In which regions are you most excited about market growth? What do you see as the main growth drivers for the iGaming industry in the future?

The pursuit of effective customer retention methods, such as motivational engineering, aligns with the industry's constant quest for new markets. Competition serves as a driver, compelling us to prioritize innovation. We've acquired licenses in Romania, Greece, and Italy, and we plan to enter North American markets as part of our expansion strategy. Major industry players seek insights into future iGaming trends, prompting our continuous analysis to anticipate shifts and meet evolving player needs. Soft2Bet is committed to acquiring local licenses in Europe, adapting its platform to dynamic regulatory requirements.