My name is adekunle adeniji, A gaming professional and an entrepreneur. Here i write what's on my mind about the gaming industry which is my first love, i write about business because its my passion and hobby. Welcome to my corner!
how punters choose where to bet and how betting companies can tap in to them
The year 2016 is coming to an end in some few weeks. In the Nigeria gaming industry, we have seen a lot of ups and down...the good the bad and the ugly Few companies continue to soar up both in sales and profits. We have seen new businesses launched and closed.
When I see betting company start operation and closed in Nigeria I begin to wonder what they are getting wrong in this 1 billion Naira a day gaming industry. Definitely, it's not sales or profit.
As a gaming professional, I have seen many companies make poor decisions when it comes to products, staffing, and business strategies.
Well, it's not looking like it's not going to change soon, but as a stakeholder in this industry, I wish we had a very competitive industry where betting companies compete with each other for customer retention. Instead of a 1 or 2 horse race, we have now.
There are 4 key motivational principles for betting and how to tap into them, understanding these principles will continue to shape the industry, years to come as we see customers getting more enlightened about what they deserve and what they are receiving in regards to service delivery.
They’re familiar with the agent or the company: a company like bet9ja spends millions of Naira to acquire shops and equipment for their agents, to increase their reach and profitability. Customers trust them because they see them all around, there is the sense that for them to be all around, they must be very wealthy as a company. And that's the reason they became arguably the number 1 company in Nigeria.
Key takeaway: Companies looking to compete must first make sure they have excellent products and devise a strategy to spread and this can only be achieved by having good products in more agent shops all around the country.
2. They share values with what or whom they are listening to: it's the same as other business, let's take me as an example. I don't bet, but I like sports and reads sports newspaper every day, I will be more convinced to take a bet one day with a company that keeps promoting sports news in the paper I buy every day.
Key takeaway: betting companies should break their story down into different elements that people might actually want to listen to.This will help to draw in a diversified audience, it will not only keep your existing customers but attract new clients who like the content you are sharing.
3. Someone told them to I have been convinced to buy many things in life by my friends so many times, now I have to wonder how many people have played games with bet9ja,supabets or nairabet just because people recommended them as the best companies around. We call this social proof. The theory that people will adopt the beliefs or actions of a group of individuals they like or trust.
Word of mouth has six essentials qualities as explained by author Jonah Berger in his book 'contagious'. Social currency, Triggers, Emotion, public, practical value. These are the qualities that get people to keep listening or betting with your company.
key takeaway: keep your current customers glued to your firm by continuously updating your products, give them right incentives, be true to them, illustrate your business strategies through emotion, teach them what they need to know like responsible gambling, something they would love to pass to friends or co-worker. position your ads in a way that it's impossible not to tell someone.
4. They think the value they get from you is the best in the market while you can't provide or please everyone, you can do your best to provide the best service and incentive. Remember to make it true to yourself and your brand. Be it a bonus, odds or game selections. A Lot of companies take advantage of the poorly regulated gaming industry in Nigeria to under pay punters and their agents. You could set your business apart by operating according to the international gaming standard.
Key Takeaway: Find out what matters to your company and use what I have covered here today to know what is important to punters out here. You will be surprised how great your business will do in 2017.
what are your best tips for betting companies to catch the attention of the audience? share them with us in the comment below