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 business can improve and in return, become part of the move to online. Some of the 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 via retail? Let your agents get a cut of the pie by onboarding online users for you, therefore, serving as an affiliate.
Your agent shop can also be the point of deposit, they can also serve as a payment channel for withdrawal and deposit. Give them the 1.5% you currently give to banks for accepting deposit on your behalf. These are parts of our efforts at betBonanza.
I'm of the opinion that retail can do a lot of good more 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, first, your product (platform) needs to be robust enough to accommodate your creativeness.
I know for sure 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 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 in the now. If tomorrow retail is no more, I'm going to be the first person to make noise about online in Nigeria or West Africa.
My Plan as always been to be where my customers are and understand where they are going, I'm not delusional. If you get romantic about what's going on now and not thinking about the future, you’ll be left behind.
Just so you know, if you are looking to grow a sports betting company in Nigeria, you are going to 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!