In a recent discussion with IGB, Yoel Zuckerberg, the product director at leading gambling platform provider Soft2Bet, shed light on a transformative trend in the industry: operators are now seeking ready-made solutions from their suppliers. Drawing from invaluable insights gleaned from B2C operations, Zuckerberg has revolutionized the traditional development approach. By collaborating closely with partners, he ensures a thorough understanding of operators' precise needs, delivering comprehensive solutions to the market.
One such innovation is the Motivational Engineering Gaming Application, designed to offer operators deeper insights into player preferences. This enables more effective onboarding for each gamer, directly influencing retention rates. Zuckerberg's primary objective is clear: to minimize player acquisition costs while maximizing gamer engagement and minimizing churn. Thus far, the MEGA products and other components within Soft2Bet's 360 igaming solutions have proven highly adept at achieving these goals.
– What challenges do gambling operators encounter when attracting gamers, and how do the new generation of ready-made solutions address these issues? How does Soft2Bet assist its partners in player acquisition?
– One of the primary hurdles operators face is the steep cost of customer acquisition and the subsequent return on investment (ROI) from their marketing endeavors. This is compounded by industry-specific hurdles such as outdated platforms, antiquated design and gamification strategies, bonus exploitation, intense competition from other operators, and regulatory constraints, particularly concerning marketing and welcome bonuses, such as those in Sweden. Off-the-shelf solution providers must take a comprehensive approach to tackling these challenges, encompassing everything from offering cutting-edge software aligned with the latest technological advancements to enhancing user interface (UI) and user experience (UX) design and introducing novel player engagement methods. Providers need to be agile in meeting the ever-evolving demands of operators, whether in technology, compliance, gamification, or supplementary services.
– Can you elaborate on the development of ready-made solutions? What research has informed your approach, and why do you believe this type of solution is crucial for the industry now?
– The foundation of our turnkey solutions largely stems from our extensive experience as a B2C operator, which has provided invaluable insights into the desires and expectations of industry operators. Leveraging this expertise, we've crafted a suite of solutions for the gambling sector that promptly addresses operators' pain points while offering comprehensive solutions to prevalent issues simultaneously:
· Swift market entry: Our platform is fully compliant with regulatory standards in over seven countries, enabling our B2B partners to swiftly penetrate the market.
· Premium design and branding that distinguishes us from competitors.
· The Motivational Engineering Gaming Application (MEGA), our leading gamification solution in igaming, fosters engagement, mitigates churn, and boosts ROI.
We supplement these functionalities with a comprehensive array of managed services, empowering our operators to concentrate on their branding, marketing, and business development endeavors. Furthermore, our deep understanding of gamer expectations, garnered from our B2C endeavors, has equipped us to meet and often surpass demand as our B2B activities evolve, offering tailored and off-the-shelf options to our partners.
– Why does your solution emphasize personalized gamification, and how does tailoring the approach to individual gamers impact player acquisition effectiveness?
– Personalized gamification is a crucial component of our tool because it fosters motivation and curiosity among players, encouraging them to take on challenges and progress to new levels. When we effectively motivate and engage users through our MEGA solution, they exhibit heightened participation and engagement, resulting in increased conversions, sales, and returns on investment for our partners. This is achieved by optimizing player acquisition and retention metrics.
Our personalization features facilitate a targeted, content-driven approach utilizing storytelling-driven gamification mechanics, enabling players to forge deeper connections with our brands. This drives engagement while simultaneously reducing marketing expenditure and churn, while enhancing metrics such as Lifetime Value (LTV), loyalty, screen time, and revenue.
Through features like our City Builder and Stadium Builder products, players embark on virtual construction ventures, exploring various game types that align with their preferences and habits. This level of customization is made possible by the wealth of user data generated by MEGA, enabling personalized recommendations, targeted promotions, and incentives tailored to each gamer's individual behavior.
All our Customer Relationship Management (CRM) strategies and UX-UI endeavors are geared towards maximizing player retention and fostering long-term engagement with our offerings. A prime example of this is evident in the success of Soft2Bet's Betinia brand in Sweden and Denmark in 2023, where MEGA facilitated a remarkable 65% Gross Gaming Revenue (GGR) and 70% Average Revenue Per User (ARPU) growth. This exceptional performance was driven by personalized player retention campaigns, targeted communications, and continuous optimization of the user experience to enhance satisfaction and loyalty among acquired players.
Moreover, the social and casual aspects of MEGA cultivate a sense of community among users, leading to organic discussions and word-of-mouth recommendations. This transformation of players into advocates for the operator significantly augments player acquisition and retention rates across all verticals.
Furthermore, MEGA's emphasis on responsible gaming is paramount. By fostering engagement through social and casual gaming content rather than solely relying on bonuses or promotions, it promotes a positive and sustainable gaming environment.
– How does Soft2Bet leverage data analytics and user behavior analysis to refine and enhance its turnkey solution? Why is data and user behavior tracking critical for operators seeking to attract new players?
– Utilizing data analytics and user behavior analysis is integral to our approach at Soft2Bet for adapting and improving our turnkey solution. Understanding user behavior allows us to tailor and optimize the promotion of various gaming verticals for individual gamers. Through segmentation of players into target cohorts and tracking the dynamics of their Lifetime Value (LTV), we can personalize promotions and bonuses to maximize player revenue.
We offer a "flexible option" within our turnkey solution, where MEGA's gamification and personalization features are seamlessly integrated into the platform or can be added as a separate API. This facilitates swift and effortless integration into an operator's existing platform, ensuring a seamless user experience.
– How do you assess the effectiveness of such a product? Are you actively collaborating with partners to adapt and refine your solution based on their feedback?
– The success of our product is gauged by key metrics such as customer feedback, engagement levels, and revenue growth. Equally important is our firsthand experience with our own B2C portals, which provides valuable insights into how our products perform in the market and enable real-time improvements. We prioritize direct collaboration with our partners, continuously gathering feedback to adapt and evolve our solutions to meet their evolving needs. This iterative process ensures that our B2B partners benefit from the ongoing development and modernization of solutions tailored to their advantage.
– How does Soft2Bet ensure that its ready-made solutions are customized to meet the unique needs of each region in terms of gambling legislation and geo-preferences?
– Operating on a global scale, our primary focus is on ensuring that our ready-made solutions are adeptly adapted to the diverse regulatory frameworks and geo-preferences prevalent in each region. Our strategic approach emphasizes continual but measured expansion, with the acquisition of licenses in over seven markets in recent years serving as a testament to this strategy. Presently, our operations span across territories such as Greece, Romania, Italy, and most recently, Ontario, Canada.
However, what truly sets our products apart is our unwavering commitment to localization, tailored to the specific preferences of players in each country. For every geographic region, we meticulously craft the most suitable registration processes, payment methods, and, crucially, gaming products, aligning them with regional preferences and regulatory requirements.
Furthermore, our flagship product, MEGA, embodies the essence of gamification, ensuring that players' preferences are consistently at the forefront. Through personalized user journeys tailored to individual habits and desires, MEGA enhances engagement and satisfaction, thereby enriching the overall gaming experience for players across diverse regions.
