Unfortunately, nowadays, modern society faces problems connected with COVID-19. A lot of businesses can not maximize their efficiency that will allow them to generate as much revenue as possible. Luckily, the gambling industry can significantly decrease player abandonment and increase overall conversion by implementing the right tools.
The key aspect for online casino owners is payment proven technologies and means to enhance conversions, increase the registration amounts, and improve loyalty.
The experts from Casino Market are eager to talk about foolproof innovations and techniques that operators may find profitable for enhancing their payment schemes.
Building Trust between the Operator and Customers
An essential component of a trust-building process is localization. While you, as an operator, are in charge of international business, you need to keep a local look and feel of your website.
In a process of localization you must stick to a few crucial components:
- Language. You should be interacting with your customers in their local language to set up positive communication, streamline the deposit process, and reduce users' confusion.
- Local payment methods. It is of utmost importance to support the financial systems in your addressable market. Also, you might as well find it useful to prioritize the most popular ones to find them easily.
- Local currency. It is essential to ensure that you support the local currency. First of all, it will increase the average deposit amount, reduce user friction, and generate extra revenue streams by using dynamic currency conversion.
- Currency symbols. It may seem like an unimportant thing, though it has a substantial subconscious influence on the clients. Euro and dollar signs are located on the left side of the amount. Also, in English-speaking countries, a comma is used to separate thousands while a period — to show a decimal point. Ensure your approach is professional.
- Quick withdrawal. In the gaming industry, it is vital to use such a payment method as Visa Direct. Since it is one of the most widely applied and quickest withdrawal means, users appreciate its presence on your gambling platform.
Minimizing User Friction
Proper internet tools that you implement in your online gambling platform can maximize your conversion by 5%.
«Usually, you face the highest acquisition at the deposit stages. Therefore, it is of utmost importance to make this step as effortless to your customers as possible»,
— specifies the SVP business operator at SafeCharge.
You can maximize your conversion by implementing some best industry practices:
- Quick deposit. It includes only the payment method that the user has already been successfully using to receive a fast deposit experience.
- Reverse withdrawal. It gives a user a chance to cancel the withdrawal transaction before it has been processed instead of performing an additional deposit.
- One-click payment. This straightforward payment method allows players to save a lot of time on depositing their money.
- Platform agnostic cashier. Support all devices and provide your clients with the best user experience on each operating system. Therefore, it is essential to adjust the cashier design accordingly.
- 3D management. You can balance between the conversion and user friction by processing the transactions with 3D.
Certain functionalities and products can also improve the user experience:
- Account updater. This product exists with both Visa and MasterCard, allowing the operator to receive notifications when users change their card details. The system will then update the financial information automatically instead of asking users to do it manually.
- Scan card. Instead of asking a user to enter all card details, you can instead offer them to take a photo to transfer the details to the system instantly.
- PayLink. This convenient tool allows sending a user a link to the cashier. It is particularly useful when declines happen, meaning instead of retyping all information again, you send a user to a place where the reject occurred.
- A/B testing. It is the best tool to improve the user experience. At the same time, you must remember — what works for one country, can not work for another. Therefore, you must be able to evaluate which solution works better in a particular location.
Reducing Player Friction at Post Deposit Attempts
Not only the right tools can help you maximize the conversion rates but also achieve up to 8% increase in acceptance rate via decline recovery systems. Among the variety of available means that can reduce payment declines and improve deposit volumes, a few ones are particularly efficient if you implement them accordingly:
| Traffic management | It will allow you to send the transaction to the acquirer with the most probability of getting this process approved. 3D management will help you optimize the performance significantly here |
| Partial approval | It is the ability to have an interaction with the issuer (Visa, MasterCard) that is unlikely to approve the initial transaction, but if you ask for a lower amount, the operation can be successful |
| Decline recovery | It is essential to provide an alternative method to recover the decline and complete the transaction. Ensure that you offer the payment means that will be the most successful for the chosen country |
| Detailed decline reason | In order to develop the trust even further, you must provide information on the possible reason for a failed transaction (insufficient funds, suspicious activity, CVV mismatch, hold on a card, etc.) |
On average, the increased values and recovery volumes are quite impressive if you do implement the tools and systems mentioned above.
The VR product manager at SafeCharge further explains:
«You will be able to increase your revenue by up to 8% with decline recovery tools on payment pages and up to 15% via cart abandonment reduction. On top of that, you will receive up to 5% of sales volume increase via partial approval and an additional 3% boost by correctly managing the traffic between different providers».
Enhancing the Cycle of Improvement and Efficiency
Having the right monitoring tools will ensure that you are confidently on top of your performance, given the systems that you have installed. The critical component is to have the ability to track the performance of each feature.
- Look at error messages you are getting at different payment methods. A complete understanding of the issue will allow you to eradicate the problem to enhance the user experience even further.
- Monitor traffic at the issuer and bin levels to ensure you are performing to the best. In order to do this, you must ensure that you are getting the right reporting from your partner that will allow you to address any issues and problems with your traffic.
Boosting Conversions with Professionals
Sometimes, even experienced operators find it challenging to implement all the necessary processes for increasing their revenue efficiently. The amount of workload is enormous, and a single person just can not handle everything at once. Moreover, if you are a new operator, the situation gets even tenser. With this in mind, you are highly recommended to order professional online casino marketing services from Casino Market.
We are ready to provide you with a wide range of various services that include the most efficient foolproof strategies for boosting the conversion rate.
Our first task is to let you understand the importance of:
- building trust between the operator and customers;
- minimizing user friction;
- reducing player friction at post deposit attempts;
- enhancing the cycle of improvement and efficiency.
It is highly beneficial for any operator to resort to turnkey solutions as they do improve your productivity and save a lot of resources. All you should do is to contact our responsive support team to inquire about any details that you might have come up with. We are waiting for your orders!
Contacts:
- Skype: support.casinosupermarket
- e-mail:manager@casino-market.com
- the feedback form.
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