Turn your churn into return!
Customer attrition often referred to as customer churn, is the rate of turnover of players that defect to a competitor or simply never return to your website. Most operators define a customer as ‘churned’ or ‘dead’ after a specific amount of time. In iGaming, this usually happens after a period of 6 to 12 months.
At 6 months the player is considered still salvageable and therefore placed on the churned list. Once on the churned list, your CRM team will have a strategy to bring them back. Often however this strategy is careful and non-invasive. It’s almost as if we want to keep these churned customers on our lists so we’re just trying to avoid them clicking that unsubscribe button.
List size is, of course, an asset, but once people go onto this churned list, an email every few weeks is hardly enough to bring them back. So being careful by sending infrequent emails, may not be the smartest thing you can do. Often up to 98% of this list will become completely inactive and considered ‘dead’. So is being ‘careful’ with emails the best strategy?
Research and best practice carried out by customer service and reactivation companies such as Enteractive have proven that going all out to (Re)Activate these churned players can have a big impact on operators’ profitability and P&L, by bringing back a sizable percentage of these customers.
(Re)Activation services work on achieving that. A team of trained outbound agents reaches out to every contact on the email list with the goal of re-engaging them. Often this results in amazing conversion rates. Up to 300% return on investment for companies outsourcing this.
What’s the secret?
Agents are trained specifically for (Re)Activation. It takes a different set of skills to connect with customers and create interactions and offers on the fly for them. Making people feel ‘served’ and special is not a job any customer support agent can do easily. It takes a different personality and specialised training. This is why the service is often outsourced.
It also takes a deep understanding of the products and the dynamic of the industry and its customers. Reactivating your list is an important task that is ideally left to specialists, especially for that portion of your list that has been inactive for 9 to 12 months. This is, in fact, the portion of our customers’ lists that we usually work with, producing excellent results, that results in a boost to the P&L.
Want to know more?
To find out more, contact our Head of Business Development, Andrew Foster, at email@example.com.