Promotions offering your customers something free like shipping, discounts, or a loyalty program might at face value like you are spending and getting very little in return.
Yet, many companies find that those offers bring in new clients and increase the loyalty of current customers.
In 2018, more than 50% of 18-39-year-olds thought coupons and discounts were necessary for digital purchases.
Coupons, free play, discounts, and loyalty rewards encourage customers to spend their money on your goods and services.
Shoppers actively seek out discounts so that they can maximize what they get for their money.
Which Industries offer the best Promotions?
Several industries offer incredible promotions to market to a broader audience.
The gambling industry is incredibly competitive so online poker providers offer free play, sign-up bonuses, no-sign-up play and deposit matches, all of these promotions are available to claim for mac poker players, as well as all other platforms.
Educational establishments offer promo items at workshops, expos, and more to entice new learners to sign up.
The financial industry offers discounts on products, introductory rates, and loyalty rewards.
Government bodies offer goods to the community like flags, ice scrapes, and decals.
The food industry offers BOGOF, significant discount subscription boxes, and even toys to children with meals.
Taking a look at the list, the casino and gambling industry appears to be taking a gamble of their own – offering multiple free options to players.
So How does that Work?
What are the most Popular Casino Bonuses?
Online casinos are competitive; they compete for new sign-ups, retention and to provide the best games.
The competitiveness in the industry has produced some of the most enticing rewards for new and loyal customers.
No deposit bonuses
No deposit bonuses let players experience the games without spending their own money. Customers are free to choose any game they like, and they may even be able to cash out after play.
By signing up, customers get a welcome bonus of cash into their account. It allows people to play immediately, and often their deposit is matched up to 200%.
Regular promos and bonuses
To reward regular customers, monthly bonuses and promos are typically offered. This encourages regular spending and staying loyal to one online casino.
Some casinos offer loyalty points, so the more you play, the more you earn. You can put these towards casino cash, free play, jackpot entries, and more.
High Roller bonuses
High-roller bonuses are usually a tier system that offers big games to big spenders. Exclusive prizes, gadgets, and holidays.
Rewards that are linked to a specific game like free spins, or VIP points.
To encourage players to play via mobile apps or tablets in both Android and iOS, incentives are offered to the specific device.
What do Players Gain from these Promotions?
The range of bonuses allows for many different demographic players to enjoy their game of choice.
Free play is immediately enticing, and within a few games, most people will sign-up to enjoy the next bonus on offer.
Getting the opportunity to test a game and website out to see it is the right one for you is crucial for player happiness.
The more they play with the same casino, the better rewards they get. So it builds a sense of loyalty for the customer.
Free play, bonuses, deposit matches, and other casino bonuses are all designed to give the player as much for their money as possible.
What do Companies Gain from these Promotions?
Promotions aren’t true promotions unless each party gains something from them. Promotions can be generous, and have a proven track record for customer acquisition and retention.
Here is how the Promotions can be categorised:
- Customer acquisition: no sign-up, deposit bonuses, free play, device bonus
- Customer retention: regular rewards, VIP option, high-roller games
A quick look at the growth of the online gambling industry in the last few years shows that the promotions available are working.
Grand View Research testified that by 2027 the online gambling market would be worth 127.3 billion.
In 2019 that value was just 53.7 billion.
Within the report, it states, “Numerous online casinos are offering a free play version of some of their games, which is creating growth opportunities for the market.”
Showing that free play promotions are a critical factor in market growth.
Why should you offer Promotions?
Promotions are a simple and yet effective way to encourage spending. Most industries have multiple companies offering the same thing, so competition is crucial for providing great promos.
Promotions are a great reason to create a brand new marketing campaign, and create a buzz around your business.
At face value, it can feel like your business will lose money by offering these great incentives. Or that perhaps your product appears cheap.
History shows us that there is a direct correlation between plummeting sales and businesses ditching discounts and coupons.
Removal of sales and discounts can make you more appear exclusive, but it can also make you appear inaccessible to the masses.
User-generated content and word of mouth are two of the most powerful marketing strategies you can hope to get, and discounts work in your favor to secure them.
A great sale or discount will likely be shared with friends and family, as well as social media. Increasing your visibility.
- What are the benefits of offering promotions and discounts?
- Moving old stock quicker
- Encouraging hesitant buyers to make the commitment
- Create demand for a product
- Improve cash flow
- Free advertising on discounts, coupon, and sales websites
- Increase loyalty of current customers
- Move inactive customers to active
The impact on a company’s bottom line is considered when offering discounts, coupons, and free items.
Discounts and promotions are a great way to grab the attention of consumers quickly.
Shoppers are more likely to increase spending to meet thresholds for discounts and free shipping, even if they don’t need the items.
One study by Paul J. Zak found a 38% increase in oxytocin, with a $10 discount. This study directly linked deals and promotions to your customer’s happiness.
The evidence is clear: when factored into your marketing plan, promotions and discounts can benefit both the business and the customers in equal measures.
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