As a sportsbook solutions provider, Altenar understands the value of establishing the right betting business KPIs to ensure you're tracking essential metrics and success drivers for your growing iGaming business.
This article explores how aligning your strategy with key performance indicators (KPIs) can promote stronger player retention and enhance your operational performance.
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 look at which KPIs betting businesses should monitor when building out their operations.
Customer Acquisition Cost (CAC) | Measure What Matters
CAC sits at the heart of sportsbook business KPIs and is crucial when entering the sports betting and iGaming industry. CAC refers to the total cost of acquiring a new customer—including marketing, advertising, and other related expenses.
Maximizing profitability is the end goal, so here are a few key focus areas to consider when reviewing customer acquisition costs to ensure your budget is generating a return.
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Optimize 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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Test and refine your marketing strategy to discover 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
CLV refers to the total value a customer brings to your business throughout their relationship with your brand. By tracking and focusing on this KPI, you can improve CLV through smart cross-selling, upselling, and delivering excellent customer service.
So, how can a betting business accomplish this?
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Personalize 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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Consider offering loyalty programs
With CLV in mind, you’ll be able to strengthen your betting business’s KPIs and ensure you're retaining your newly acquired players and bettors.
If you’d like to discover what types of content, markets, and features your players will engage with most, contact Altenar, a sportsbook solutions provider, today!
Gross Revenue | Streamlining Your Operations
This KPI measures the total revenue generated by your business before any deductions. Tracking this metric helps ensure you're generating enough income to cover costs and achieve profitability.
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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 increases year over year is essential for any betting business in such a competitive market. This is achievable by offering your players and bettors tier-one products and services.
Altenar, a sportsbook solutions provider, offers a wide range of content, services, and state-of-the-art technologies to help your betting business continuously improve. Contact the team today!
Gross Margin | Controlling Costs & Pricing Predictions
Gross Margin KPIs measure revenue after deducting the cost of goods and services sold. It's crucial to track this metric to ensure you’re generating profit and covering any overhead costs.
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Focus on productivity and efficiency
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Control costs and pricing goals
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Continuously 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 essential—especially for understanding which products and services have been successful in keeping those customers coming back.
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Providing exceptional customer service
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Prioritizing communication
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Improving product quality
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Requesting customer feedback
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Offering greater levels of personalization 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 for identifying new opportunities and increasing revenue.
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Use dynamic pricing
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Focus on customer retention
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Offer bundled packages
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Develop and offer relevant products and services
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Experiment with different pricing models
With this in mind, contact Altenar today to begin your sportsbook journey with one of the best solutions on the market today!
