A simple strategy to simplify and improve your CPA
As iGaming professionals we understand that there is no magical formula to converting free players to depositing customers. However, focusing on the metrics that matter can really help us make a big difference in driving a positive ROI for our business.
Knowing the average NRC to NDC conversion rate across all traffic sources, mainly affiliate, organic, digital media and offline, is a good first step. No matter what vertical you’re dealing with, paying attention to the right strategies and metrics will undoubtedly improve your results over time.
Player Acquisition Through Affiliates
Affiliates are the lifeblood of many an iGaming operator. Keeping an eye on the data from affiliates can be key for growth. You first, however, need to understand which affiliates, and which of their traffic sources are bringing in more players that have the potential to turn into higher lifetime value players.
We recommend the following flow for ensuring all key metrics are being covered.
First you create a clear scoreboard that monitors and shows you which games create the longest lifetime value in your niche offering. Next, you pin-point which game is bringing in bigger, better, profitable clients that are a great fit for your brand. Finally, shift your attention to working with those affiliates that are bringing you the best customers for that game.
Sure it sounds like a very specific – almost minimal strategy – but if you can get the figures to work, you will be able to replicate it time and time again. The fewer metrics you focus on, the more space you create to develop relationships and strategies that will boost those key statistics for your iGaming operation.
Affiliates also love custom bonuses that differentiate from the competition. Once you know which affiliates are your best partners, you can create bonuses specifically designed to build on that relationship and get you even more traffic.
Focusing on the metrics that matter can really help us make a big difference in driving a positive ROI for our business.
Keep an Eye on Multiple Traffic Sources
Affiliates use multiple sources to drive traffic to an operator’s website. These sources are often Email, SMS, PPC, online media and SEO strategies that create organic leads from their websites. Look at the conversion metrics and value metrics from all of these channels and work closely with the affiliate to either shut down the non-performing channels or re-optimise the non-performing channels.
Cost Per Acquisition (CPA)
Calculating CPA is a no-brainer on every marketeers lips in the iGaming industry. However, do we really understand how to simplify the measurement of such an important metric?
There are two main meaningful figures here:
- The amount of money that is being spent on acquisition?
- How many players has that budget managed to acquire?
There are many variables and data points between these two figures, that can make your statistics incorrect or imprecise. The solution is to understand (and therefore connect the data points between) the CPA and Player Lifetime Value.
In order to clarify and understand the correlation between the two, it is important to apply some filters. The cost per acquisition needs to be broken down by game and geographical area. Each game then needs to have clear data regarding the average Player Lifetime Value it creates in each jurisdiction.
Once you have this data you can test different methods to activate more of these player to make a deposit. If you’re in a jurisdiction that permits this, you can offer a bonus, make a direct support outreach call, send an email, create new jackpots or prizes that work in your sector.
At Enteractive we can help re-engage players and help you turn free players into depositing customers through our unique (Re)Activation Cloud product click here to read more
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