As a sportsbook solutions provider, Altenar understands the value of instituting the correct betting business KPIs to ensure that you’re keeping in mind some vital metrics and keys to success for your blooming iGaming business.
This article will take a look at how betting business KPIs and keeping them in mind can help to promote player retention rates and boost your current operations.
If you’d like to learn more about Altenar’s sportsbook solutions, technologies, features and betting content contact the team today!
So, without further ado let’s take a look at what KPIs betting businesses should keep in mind when building their companies.
Customer Acquisition Cost (CAC) | Track Your Results
CAC is at the forefront of betting business KPIs and is something that should be kept in mind when beginning your business in the sports betting and iGaming industry. The CAC refers to the process of measuring the costs associated with gaining new customers, from marketing and advertising and similar expenses.
Maximising profit is the aim of the game and so here are some key aspects to focus on when you’re thinking about customer acquisition costs and how to ensure your money is being spent correctly and with results.
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Optimise your website
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Choose the right marketing channels and strategy
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Define your target audience
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Focus on customer retention
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Track your results
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Trail and test your marketing strategy to find out what works best
With Altenar, a sportsbook solutions provider, your sports betting business will benefit from a host of must-have technologies and highly competitive sportsbook features!
Customer Lifetime Value (CLV) | Identify Patterns & Trends
Measuring the total value of your customers during their lifetime with your company. Tracking and focusing on this KPI can increase your CLV through cross-selling, upselling and offering great customer service to your customers.
So, how can a betting business achieve this?
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Personalise communication with your customers
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Use analytics to identify patterns and trends
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Increase upselling and cross-selling
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Always strive to improve your products and services for your customers
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Potentially offer loyalty programs
With CLV in mind, you’ll be able to bolster your betting businesses’ KPIs and ensure that you’re retaining your new-found players and bettors.
If you’d like to discover what types of content, markets and features your players will interact best with contact Altenar a sportsbook solutions provider today!
Gross Revenue | Streamlining Your Operations
This KPI measures the overall revenue generated by your business before any and all deductions. Tracking this metric can help to ensure that you’re generating enough revenue to cover costs and produce profits.
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Diversify your products
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Focus on sales and marketing
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Streamline your operations
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Improve your customer experience as new and different clients join your betting business
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Set revenue goals and targets
Ensuring that your gross revenue is increasing year-on-year is a must for any betting business in such a highly competitive market, and this is achievable through providing your players and bettors with tier-one products and services.
Altenar, a sportsbook solutions provider, offers a plethora of content, services and state-of-the-art technologies to ensure your betting business is always improving, contact the team today!
Gross Margin | Controlling Costs & Pricing Predictions
Gross Margin KPIs measure revenue after deducting the costs of all sold products and services, with this in mind it’s important to track this metric to ensure that you’re generating profit and covering any overheads.
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Focus on productivity and efficiency
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Control costs and pricing aims
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Always improve supplier relationships
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Manage inventory
Customer Retention Rate | Enhancing Product Quality
Measuring the percentage of customers who return to your business is a must, especially in understanding what products and services have worked well to keep this customer a returning client.
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Providing amazing customer service
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Focusing on communication
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Enhancing product quality
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Asking for customer feedback
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Increasing levels of personalisation for your customers
Average Revenue Per User (ARPU) | Focus On Your Customers
This metric measures the average revenue generated by each customer. Tracking this metric is essential to identifying opportunities and increasing revenue.
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Use Dynamic pricing
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Focus on customer retention
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Offer bundle packages
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Create and offer relevant products and services
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Experiment with pricing models
With this in mind, contact Altenar today to begin your sportsbook journey with one of the best solutions on the market today!
