Brand awareness and customer loyalty can often go hand-in-hand and as a result, bolster your current operations to ensure you’re making the most out of your products and services, and how the solutions, content and more that your business creates can also increase your revenue and customer loyalty in more ways than you may have previously thought.
Altenar, a sportsbook solution provider, understands the prevalence and importance of brand awareness and how it can drastically impact customer loyalty amongst other important factors like the quality of your product. Ensuring your sports betting products and services are well-taken care of, Altenar has decided to detail just how this link between brand awareness and customer loyalty can positively impact and benefit your iGaming business.
So, without further ado, let’s begin.
What Are the Benefits of Brand Awareness in Customer loyalty?
Understanding the benefits of brand awareness can help iGaming and sports betting businesses to fully harness the implementation of brand awareness and customer loyalty contributors like public relations and content marketing.
The list below demonstrates how your iGaming business can benefit from increased brand awareness and the level of importance that can be attributed to this method of attaining customer loyalty.
- Customer Retention: Brand awareness could increase customer loyalty, and this is the product of keeping your customers engaged and satisfied by your products, services and sports betting content. This can also reduce the need of finding new customers.
- Higher prices: Brands increasing its awareness and positive notions can often increase its prices for its products and services in the iGaming industry.
- Repeat Business: With positive attitudes towards your business and all time high thanks to brand awareness, customers are more likely to repeat their patronage to your services and products, especially in the iGaming and sports betting industry.
- Brand Equity: Over time, the value of your brand to your customers will increase and as a result will increase revenue potential for your business as your customers are adding inherent value to your products.
- Word of Mouth: With a host of your bettors and players having positive experiences with your iGaming brand word of mouth marketing can help to increase brand awareness and even attract new customers/bettors, as players who have a positive attitude toward your brand will likely recommend this brand to their friends and family.
- Competitive Advantage: Brands with high levels of awareness will likely be some of the most successfully competitive in their respective markets. Positive brand associations can make your iGaming and sports betting services and products stand out against competitors in the minds of potential consumers.
Contributing Factors of Brand Awareness that Helps to Build Customer Loyalty
Implementing some of the below listed contributing factors can increase your brand awareness and how your current and new customers/bettors interact with your brand over time.
Assigning your brand and your products and services as a go-to product for your customers' needs is a must, and can be achieved through the following.
- Content Marketing: In creating valuable and informative content iGaming and sports betting businesses are able to engage and educate their players and customers. This can be achieved through the publication of regular high-quality content that allows your business to position itself as thought leaders and in turn, increase brand awareness.
- Public Relations: While building brand reputation is an invaluable contributor to the overall brand awareness recipe, PR ensures the management of brand reputation and the promotion of the brand through media, events and similar avenues. With a healthy plethora of positive coverage in relevant areas, topics and events brand awareness and credibility can increase 10-fold.
- Advertising: This contributing factor is one of the most effective methods to increasing brand awareness, which can include the promotion of your iGaming brand through different forms of media like TV, radio, online and print enlarging your brand’s reach and potentially increasing its audience and recognition.
- Social Media: LinkedIn, Facebook, Twitter and Instagram are incredibly powerful tools at your businesses disposal. In sharing content and engaging your audience directly you can increase brand loyalty and new customers with ease.
- Influencer Marketing: Partnering with large-community influencers can drastically increase your brand’s reach and as a result, your brand’s customer loyalty and revenue.
Implementation of Brand Awareness Strategies | Altenar & You
- Customer Engagement: Ensuring the frequent engagement of your customers is a must and this can be achieved through social media and different types of marketing content and strategies like email marketing.
- Consistency: This is key in building brand awareness. This means keeping your messaging, branding and imagery consistent across all of your brand touchpoints that are customer facing.
- User-Generated Content: Having your audience create content related to your brand can benefit your brand awareness drastically.
- Partnerships: Building connections in the sports betting and iGaming industry is a must, and can increase brand exposure while reaching new audiences and helping to retain current customers that see your brand increasing in popularity.
If you’re looking to add Altenar’s sportsbook solution to your current iGaming offering and want to benefit from the sports betting solution provider’s industry knowledge, contact the award-winning team today!