Loyalty Programs in gaming industry, how can it be secured?
Is customer’s loyalty really worth the effort?
No brainer, but many industries struggle with the same question. Customer loyalty is basically the measure of how likely a customer will repeat business with you. Every industry has different methods of computing loyalty. In fact, customer loyalty is one of the best ways to get countless referrals and sales.
One of the best tried and tested formula to retain customer loyalty is through ‘Loyalty Programs’. Many companies deliver their loyalty programs across online and offline channels. Engagement is a major sign of financial performance and customer loyalty.
Similarly in gaming industry loyalty programs are an effective way of retaining gamers and providing the highest satisfaction to the gamers.
Loyalty Programs for the gaming industry: Transforming the current gaming industry
In today’s world the gaming industry is one of the foremost markets of the digital economy. Therefore, utilizing loyalty programs for the gaming industry is a sturdy and robust strategy. The online gaming industry and casinos trend are bigger than ever now. This is due to more and more gamers indulging and signing up on daily basis. Many operators work by alluring different players through powerful marketing and quality promotions.
Gamers want to be rewarded and feel valued for spending money and their valuable hours in playing online casino games. If gamers already know that the more they play the more they will be rewarded with loyalty points which can be used in getting a bonus, free spins, or get free entry into tournaments. Then there are chances that they will retain and continue with gaming.
All in all, increasing gamers’ online gaming experience by universal loyalty programs will surely get the confidence of the gamers across the globe. It is also a sure shot way to ensure that patrons visit, engage and play more often on your platform.
The significance of the Loyalty Program
• Increase your user retention
User retention is one of the main strategies to attain gains. More gamers are important for the monetization of the games. In fact, by increasing the retention rate to 5% profits can be increased by 25–90%. This certainly means that ‘loyalty programs’ is the best solution that can increase gamers’ retention rate.
• Create gaming communities
Nothing delights a gamer more than an overall new gaming experience. More or less, it is more connected to the development of games, but, in today’s digital world, gamers are more connected than ever. For the same reason, if the right strategy is taken into consideration, then you can easily turn your gamers into gaming communities. Not just that, the gaming community can also help in attracting new gamers through the word of mouth.
The competition in the gaming industry is rapidly increasing. In this case loyalty programs can be used in offering gamers with digital goods, rewards, and prizes to turn core gamers into gaming communities.
• Decrease payment commissions
The development in the financial technologies has led to the use of advance monetization methods. Loyalty programs provide a variety of payment channels, and many of these are using the latest monetization channels.
You can prompt the gamers to choose your preferred channels for payment and effectively decrease your commissions. Furthermore, by choosing the correct loyalty solution, you can control your budget and payment process and at the same time make profits.
BigBang: A global gaming loyalty & reward network that is built for casinos and eSports industry
The effectiveness of any loyalty program is restricted by their separation from one another. Consequently, a single loyalty program cannot win over disfranchised online gamers, who may be a part of various other programs at the same time. These days gamers have more choices, a single game or service cannot entertain the gamers for a long time, even if the incentives are offered.
Nonetheless, the blockchain technology offers the potential to revolutionize the loyalty programs and transform the relationship between the operators, sponsors, and online gamers.
To do this BigBang offers an online gaming platform and BigBang Loyalty Token which will prove to be the ultimate solution for the online gamers and operators, and the unifying loyalty program.
BigBang offers an inbuilt mechanism that can effectively tackle frauds, incentivize the playing of various games and services, ensure privacy and safety, create new revenue sources and customer acquisition and retention opportunities. All this can be easily done through cross services loyalty token- The BigBang Token (BBT).
It is an ecosystem that aims at benefiting and serving the gamers, operators, and sponsors, with loyalty incentives. At the same time, it offers gamers an improved source of entertainment while reducing the cost to a great extent.
The BigBang Token
The BBT is a loyalty and utility token offered by the BigBang Platform. It is an ERC20 token (Based on Ethereum smart contract standards) that can be exchanged with various cryptocurrencies and fiat currencies. The BBT provides a universal reward token, that will be given on participation in different games and services which will be secured in the BB wallet.
Since BBT tokens can be exchanged with other cryptocurrencies and fiat currencies it gives an opportunity to the gamers to exchange the token at any point in time.
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