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IGaming is a highly competitive industry. The competitive nature is often why large investments are enacted to attract new players. This ensures they will remain loyal to the casino for the long term. The majority of casino startup costs are spent on marketing, this is more than 50%. This shows the importance of promotions, advertising, and marketing. Costs for marketing online casino vary, depending on many factors, such as market size, goals, and strategy.
To develop a marketing strategy and gain recognition, you need to do a lot of strategic planning. Nonetheless, getting recognition from marketing communications is not always easy. The marketing strategy usually consists of multiple parts. These include awareness (AKA Recognition), transformation (more users registered, more deposits, etc.), and retention (did users revisit your website, or did they go elsewhere? In summary, marketing is a major expense (on average, 11% of your initial revenues) that you must spend to increase awareness, attract new users, and keep them coming back.
It is almost impossible to get a complete analysis of online casino marketing costs. Many variables influence the cost of your marketing activities. Online casinos often reflect other industries' advertising models, such as e-commerce and online services. However, iGaming ads are regulated. Because of this, online casino advertising costs more and is harder to execute. Before we discuss the different advertising channels, strategies, and methods, it is important to mention that offline ads can be overlooked because they are more costly, making it difficult to calculate ROI and measure KPI. Finally, they may not even reach the target audience. Thus, when we discuss marketing in the field of iGaming, we always mean digital marketing.
Around 80% of marketing expenditures are spent online. SEO optimization, affiliates and advertising network are the primary channels to promote your online casino.
SEO is still a key part of digital marketing strategy. It will allow you to make long-term profits. How quickly you rank will depend on how much you spend each month, quarterly, or annually. However, spending a budget will not be the only thing that will make your website rank higher. While you might be able to pay for backlinks or create websites to rank your website, the first step should be to do technical and on-page SEO.
How much money you spend on ranking your website depends on where you operate, how many keywords you want to rank, and on the keyword difficulty rating.
Keyword difficulty (KD) indicates how difficult it is to rank for certain keywords compared to others. If you are trying to rank for "Online casino" (KD=90), this might be more difficult and cost more than "Real money online casino" (KD=72) and "Online bonuses"(KD=69). Nevertheless, there are over 58 000 different keywords (In English) about the iGaming industry users search on google. Initially, you might want to choose the least difficult and competitive keywords. It all depends on the criteria you are trying to rank for.
Affiliate software is required to execute an affiliate marketing strategy. You can track, manage, and pay all your affiliates through one platform. After you have purchased the software, you will need to set up an affiliate network to attract people who are willing to share your products and promote them. It is important to find trustworthy partners on reliable websites and not start collaborating with untrustworthy sites.
Affiliates are paid for the results they provide to online casino websites. There are many types of commissions available for affiliates. It is important to pick the right commission type and pay fair prices to your partners. The various commission types include revenue sharing, pay-per-acquisition, and hybrid models.
Affiliates earn a portion of the casino's net revenues from referred players with the revenue-sharing model. You can choose to negotiate with an affiliate with a rev-share model with or without negative carryover.
For a pay-per-acquisition strategy, the payment rate depends on specific activities, such as registering at a casino website or depositing to begin wagering.
Hybrid is a combination of both approaches. You may pay 50$ for each acquisition plus 10% of your total revenue.
Blogging is also a very profitable, cost-effective, and efficient action that can bring players to your online casino. By creating a blog, you can increase organic traffic and provide information and analytical articles to your users.
Online casino marketing is incomplete without bonuses. They allow you to acquire new customers and keep them on your platform quickly. You should send bonus offers to players who haven't played in your casino in a few days. Players will be more inclined to wager if they have a bonus on their account. If you plan to open an online gambling site, developing a strong bonus strategy is important to attract users.
For more information about the online casino marketing costs keep reading the article at https://blog.upgaming.com