GGR, or Gross Gaming Revenue, is an important indicator for iGaming merchants when it comes to determining the success of their business, and when deciding whether their business strategy needs changing.
If you’re an online gaming business and your GGR is healthy, you can rest assured that you are successfully attracting and entertaining enough players to make a good profit. Alternatively, with a poor GGR, you might realise that you need to shake things up or face having a diminishing business with low or no profits.
There are a number of key tactics that iGaming businesses can use in order to grow their GGR and help their business to turn a greater profit. Different strategies will suit different businesses, but there are certain ways that all merchants can improve what they’re doing to achieve greater business success.
Here are five ways that you can grow your GGR:
Offer a wider gaming portfolio
Visitors to your platform will have different interests, skills and attention spans. This is only natural - it’s human nature. What’s more, people’s interests change over time and they can easily tire or get bored of games. This is why having a wide selection or games - and frequently adding new games to your platform - is absolutely essential to make sure you continue attracting new players, as well as retaining your existing customer base.
When building and maintaining your gaming portfolio, it’s very important to diversify. This means having different types of games that require different strategies, with varying difficulty and different aesthetics. If you ensure that you do this, you can be certain that your gaming platform will be fresh and exciting to new and existing players alike!
Get smarter with your marketing
Marketing within iGaming is evolving all the time, and you need to stay ahead of the latest marketing trends so that you know how to attract customers. Whether it’s podcasts, influencers or paid social ads, you need to know the best marketing channels to take your brand global.
There are plenty of online resources to help you do this (take a look at Malta Profile for an example) and you should also consider taking on board an agency to help you with their expert insider knowledge of the industry.
Upgrade your software
Every iGaming business relies on having fast and responsive software to power their platform and make sure that their players can feel immersed within the gaming atmosphere. If they don’t, they will face a multitude of problems, including glitches, lag times and many other types of software failure. Completing regular software audits will mean that you’ll always be on top of what software you’re running and how it’s performing.
It’s also important to have the right team of software developers to make any necessary requirements and to keep your iGaming platform running smoothly. You may have an in-house developer, but you should also consider outsourcing your software development as you may be able to save yourself a good deal of money, time and stress. Outsourcing your development with an agency that has plenty of experience in the iGaming sector is essential.
Personalise the experience
The more you can personalise the gaming experience, the more involved in the game your players will feel. This will keep them coming back again and again, and you will be able to boost your profits from their loyalty. Customers expect to be remembered and recognised, and you should create this experience on your online gaming platform.
The easiest way to create a personalised gambling experience is by leveraging as many data points as you possibly can. Whether your data collection happens during the sign-up process or by linking with social accounts, having data about age, occupation, geographical location and interests can help you to market different products more effectively, as well as adding unique personal touches to each player’s gaming experience.
Offer greater payment flexibility
A simple way to boost your revenues is by making it easier for your customers to make payments. The more seamless you can make the checkout process, the longer your players will be locked into the excitement of your games, and the more likely it is that they will keep coming back for more.
Try to make sure that you have local payment methods, a variety of card and bank transfer methods, and fast payouts, so that players always feel like they are in control. A single bad experience with one of your players’ payments could easily result in losing that customer for good.