Winning New Customers Without Losing Your Shirt!

If you have been following the business pages lately you cannot help being struck by the huge changes underfoot in the online gaming industry with mega-mergers between Betfair and PaddyPower and GVC beating 888 Holdings to acquire Betwin.

These gaming behemoths have sought scale as a response to spiralling customer acquisition costs, as well as increased tax and regulatory burdens. A profitable customer can often cost hundreds of dollars to acquire.  It is refreshing to see a leading online gaming business like Welton Holdings’ Fun88 take an innovative approach to reducing customer acquisition costs.

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Why You Need To Start Building Up Your Black Friday Sales Channels Now!

 

As we are now officially in Autumn (a.k.a. ‘Fall’ for our US readers), you are probably starting to turn your attention towards this year’s Black Friday and Cyber Monday promotions.

With so much riding on these key sales dates, as well as meeting with your IT team to make sure your site stays up and external courier companies to ensure parcel deliveries, you will be probably also be firming up your advertising budget and deciding on the key messages you want to get across. 

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Seven Reasons Why You Should Outsource Your Refer-a-Friend Scheme

 

WHY YOU SHOULD OUTSOURCE YOUR REFER-A-FRIEND SCHEME

When looking at Refer-a-Friend or ‘RAF’ schemes, potential clients often ask us: ‘Why should we not just build this ourselves?’

Or, where a brand or retailer has already built a simple invite-a-friend scheme in-house, the question is often: ‘Why should we not just add these features to our existing RAF scheme?’

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Black Friday Sales: Getting the most out of the inevitable bargain hunters

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Sales exist for a good reason!

While clearing out last season’s left over stock frees up warehouse and display space and provides cash to reinvest in your business, the main reason you, as a retailer, sacrifice short term margins is in the hope that deep discounts will tempt good customers into your stores to begin a long term and profitable relationship. Of course everyone knows that sales also attract price sensitive bargain hunters with little notion of brand loyalty, but as long as there are enough good customers to compensate for the bad, sales make economic sense.

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The Web Changed. We Changed. So why are Retailers stuck back in 2003?

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Time for a little history lesson.

If you are old enough (Millennials excused here!) to remember the first retail websites in the mid ‘90s, they were pretty boring, basically online versions of print brochures that took ages to download on your dial-up modem. It wasn’t until companies like Amazon, eBay and Pegasus realised the potential to disintermediate traditional retail, that ecommerce was born. But that didn’t bring much interaction beyond ‘people who bought this also bought that’.

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What influences the influencers?

Right. Elephant in the room time. You know those influencers you’re getting to plug your products? It’s not your brand they’re attracted to – it’s your wallets.

Your big, bulging wallets, as it turns out. Now that influencer marketing is the fastest-growing method of customer acquisition, it’s become a big-money game. Twenty-five percent of brands are spending over half a million dollars on it every year. Five percent are spending over $5m. That translates to about 200 bucks for every half-arsed “Hey, guys – check out this amazing thing I’ve discovered” and ten grand for every “I just spent a day testing the latest doo-dah from thingumabob.”

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