Modern casino operators process a colossal amount of data daily. There is so much information that some industry brands find it rather challenging to structure and use traffic effectively.
The iGP team has conducted extensive research and identified 6 of the most critical indicators influencing any gambling startup’s success. Luka Markota, the company’s Head of Product, shared thoughts about the KPIs in the gaming sector.
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Most Significant iGaming KPIs
iGP’s experts highlighted the following 6 parameters:
- Deposit Conversion Rate. The indicator measures the percentage of visitors who turn into paying players. According to Mr Markota, it is one of the most significant metrics in the online gambling segment.
- ARPU. This figure gives the operator an understanding of how interesting and profitable their product is. The number is often seen in business areas related to subscription services. It evaluates user behaviour when purchasing a specific product.
- CLTV. The parameter helps calculate the long-term benefit of attracting and holding one consumer. It is a convenient and valuable indicator for analysing marketing strategies and making decisions about future investments in promotion.
- Retention. The index shows the total number of gamblers who continue to visit the platform and place bets over a long period. This metric best reflects how well an operator’s offer resonates with their audience.
- Monthly active players. Regular reports on client behaviour are crucial to determining the overall health of a gaming manager’s customer base. To be considered loyal, a user must perform some in-app wagering action within approximately 30 days.
- Average deposit. This indicator gives operators an understanding of punters’ behavioural reactions when replenishing accounts. Tracking and evaluating the coefficient allows for organising more rational and effective promotion.
Barriers to Performance Growth
Major iGaming businesses are very reluctant to share their strategies and metrics with other sphere representatives. Therefore, when conducting a comparative analysis, smaller brands may encounter an issue with the availability of easily accessible data.
iGP’s team has achieved great success in benchmarking despite the lack of ready-made solutions from leading gambling corporations.
Mr Markota voiced 2 thoughts in this regard:
- feedback from partners plays an essential role in developing effective strategies;
- the industry should be more transparent regarding data exchange for shared prosperity.
The expert is convinced that openness and friendliness between competing organisations without disclosing confidential information will contribute to the segment’s growth. This attitude will also positively affect the activities of all gambling representatives.
The Main Things About the Top iGaming KPIs in 2024
The digital entertainment sector is one of the most flexible and rapidly changing economic markets. To operate successfully in this niche, entrepreneurs must process a massive amount of data.
Fundamental notions from the article:
- The Deposit Conversion Rate is the 1st indicator of a gambling project’s prosperity and profitability. Based on even one account replenishment, a platform administrator can predict each punter’s lifetime value.
- The retention parameter often helps reduce operating costs. Its analysis shows that granting regular incentives to existing customers is much cheaper than attracting new ones. Such a strategy can yield significant results in the long term.
- Tracking monthly active players gives an idea of how gamblers actually interact with a particular product. Comparing this KPI with daily metrics is recommended for a more detailed and in-depth analysis.
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