The online casino industry is one of the single most significant web-based sectors in the world, generating billions in revenue annually. What is even more remarkable is just how vast the online industry became in a relatively short space of time. The first online casino opened its virtual doors in the mid to late nineteen nineties, expanding rapidly to what it is today.
Yet, despite its size, it seems that many new online casinos are closing their doors before they’ve even made a hint of any profits. Many of them are not even lasting out their launch month; just when you see a new online casino pop up, within weeks, it has disappeared right off the internet radar, never to be seen again. But what could be the cause of this seemingly new phenomenon? Surely there is still more than enough room within the booming online casino industry to accommodate all comers?
Why Effective Marketing is Still King
Of course, it is not enough to expect that one of the biggest online industries in the world can simply accommodate by virtue of its size alone. In fact, quit the opposite is true, the bigger the industry, the more various entities are fighting for the same piece of the pie. The intensity of this competition relates directly to the frequency at which new online casino sites open and, with an average of around two to three every month, you could see easily where effective marketing comes in to play.
Effective marketing is really the difference between an online casino launching on the right foot, jumping out the starting gate like a rocket, and one that stutters, hesitates, and ultimately fails altogether. With new online casinos opening every month, it is no longer enough to look pretty or to offer a wide range of games; every online casino is already doing that! What it boils down to is who can catch the eye of the potential punter first and, not only catch their eye but hold their attention long enough for them to sign up and put some money into your online casino!
Give Them What They Want!
If you tried to compare the first generation of online casinos from the nineties with today’s online casinos, you almost wouldn’t be able to say they are the same thing, apart from the fact that maybe both offer slots, roulette, blackjack and so forth. Today’s successful online casinos are not only competing with each other; they are competing with online gaming and a new threat, the online social gaming casinos that you find all over Facebook and the like.
What are ineffective marketing strategies? Those that fail to recognise that the online casino gaming world has changed fundamentally. It is no longer just about buying a few casino chips to play digital roulette games that are vaguely realistic. Millennials (for example) are making up a considerable chunk of the online casino market. You need to bring something new to the table if you want their dollars rolling through your doors. This is why you will see more online casinos marketing from a social media point of view as well as combining gamification platforms with extended online gambling options such as ESports betting (betting on live games like DOTA) and much more!