Retail Sports betting is not Dead
What's up, professionals! Obviously, times are hard right now. That’s why it’s important now, more than ever, for us to empathize with one another and stay positive. Nothing good comes from dwelling--if anything, it often leads to unhappiness and anger.
While Covid is giving retail sports betting a run for its money, Retail IS NOT dead, as showcased by recent data from Nigeria's top gaming companies. In fact sales in shops are back to pre-covid figures.
Of course, similar to many other verticals, There are many ways that retail businesses can improve and become part of the move online. Some ways include data-driven decision-making, customer-centric brand efforts, omnichannel growth strategies, timely operational processes and unconventional creativity, to name a few.
How about growing your online channel via retail? Let your agents get a cut of the pie by onboarding online users for you, therefore, serving as an affiliate.
Your agent shops can also be the point of deposit, serving as a payment channel for withdrawal and deposit. Give them the 1.5% you currently give to banks for accepting deposits on your behalf. These are parts of our efforts at betBonanza.
I think that retail can do much better than it's currently doing, and instead of us running away from it, maybe we should look at how we can get more out of it.
Listen, there are many ways to make this work, but Obviously, your product (platform) needs to be robust enough to accommodate your creativity.
I know that companies running retail or agency systems must continue to evolve and get comfortable in the ‘new’ and ‘unknown’ or face certain closures.
I'm not all about retail, as many people think, as I have been asked many times, but My operational strategy is also to be where the customers are and understand what is working now. If tomorrow retail is no more, I will be the first person to make noise and campaign about it.
My Plan has always been to be where my customers are and understand where they are going; I'm not delusional. You'll be left behind if you get romantic about what's going on now and do not think about the future.
Just so you know, if you want to grow a sports betting company in Nigeria, you will need an element of retail, I could go on and on about the benefits of having shops, but I don’t have to. It’s been documented repeatedly in my previous articles. I agree it's a hard pill to swallow, and its harder to do operational-wise than online, but it works if done correctly.
Online growth is coming, I can see it coming, but we are not fully there yet!