Appealing to the masses: How to expand your product portfolio with SOFTSWISS
“No longer can operators rely solely on specialisation within a single vertical to sustain relevance and competitiveness.”
In the igaming industry, giving players a wide range of different content from live casino all the way through to sportsbooks is the only way to maximise player engagement and most importantly, revenue.
Finding a platform provider that allows for both a vast product offering, but also has the skills and expertise to help operators, is an ongoing challenge. For Matsukevich and the rest of the team, strategising for the ideal product catalogue for players is the only way to fully embrace evolving igaming demands and that’s why SOFTWISS has gone far beyond ‘traditional limits’.
“At the core of our approach is building a vast ecosystem that goes beyond traditional limits. We provide our clients with a comprehensive toolkit to navigate and thrive in the ever-changing igaming industry.
“Through strategic partnerships and continuous innovation, we have put together a range of solutions covering everything from essential gaming platforms to additional services designed to boost player engagement and retention.”
Limiting potential with a single product focus
“Failing to offer a complete product ecosystem entails several risks that can significantly impact an operator’s bottom line.”
For operators focused on offering a single vertical, or supporting content from an individual provider, Matsukevich believes they’ll find it difficult to maintain player engagement and this limited strategy will ultimately stifle potential growth.
He explains, “This strategy will not only lead to lower overall revenue but also increases the risk of losing customers to competitors who provide a more comprehensive gaming experience.”
This challenge is particularly evident during major sports events, such as the FIFA World Cup, when SOFTSWISS noticed a significant drop in casino revenue. For an operator relying entirely on casino content, this sudden shift to sportsbooks showed a downturn in revenue and an almost impossible challenge of encouraging players onto their platform during that time.
“Without a diversified product offering, including casino and sportsbook options, operators miss out on the opportunity to capitalise on this shift in player behaviour and maximise their earnings potential.
The same element of risk can be seen with supporting content from a single provider. Not only will this attract a smaller number of players who enjoy this type of game, issues around how often, and when, games are released may have operational implications. This vulnerability is something that Matsukevich feels will “limit the ability to adapt to changing market dynamics and consumer preferences”.
Efficiency in providing targeted products
Providing a comprehensive product selection that marries up with the diverse requirements of a player base is, to Matsukevich, a key priority for operators. Remaining competitive requires a shift away from a single vertical reliance and the introduction of complementary products to target the evolving demands of the industry. But how to successfully achieve this can depend on the expertise on which an operator relies.
“At SOFTSWISS, we recognised the significance of this paradigm shift five years ago, embarking on a mission to redefine the traditional notion of a “one-stop shop” solution.”
How to reach a targeted and diverse portfolio requires strategic thinking. There’s no contesting that slots games are the leading casino preference, with the Gambling Commission reporting a gross gambling yield increase to £589m in 2023 for this igaming vertical alone. However, operators should avoid selecting new content and products through such broad metrics. Ensuring content is targeted for the audience is imperative. For those lacking experience in other verticals, it can prove challenging to successfully recognise the ideal option that will complement a current format or suit player preferences.
A key starting point in successful strategising is research.
Matsukevich explains SOFTSWISS’ approach, “First and foremost, we prioritise a deep understanding of our partners’ businesses, conducting thorough analyses to identify their specific needs, challenges, and goals. Armed with this insight, we provide comprehensive support at every stage of the partnership journey, offering tailor-made solutions that align with their objectives and budgetary constraints.
“In our quest to lead our clients to success, we remain vigilant in tracking emerging trends within the igaming market and forecasting their development trajectory. Leveraging cutting-edge artificial intelligence-based tools, we proactively adapt our offerings to meet evolving industry demands, ensuring that our partners remain at the forefront of innovation and competitiveness.”
Regulation at the heart of all development
These evolving demands are mirrored by frequently updated regulations. With operators continuously looking to expand into emerging markets, they will need to gain relevant licences and abide by the varying rules and expectations of each one.
“We recognise the importance of regulatory compliance in accessing key markets and expanding business opportunities. With our deep expertise and experience in navigating complex regulatory landscapes, we assist our partners in entering regulated markets by providing proper certifications for our products and sharing invaluable insights and guidance every step of the way.”
Crossing products – Helping players recognise their next move
“Cross-selling is indeed crucial for operators aiming to guide players through their ecosystems, and SOFTSWISS has implemented several strategies to facilitate a transition between products.”
Operators lacking a robust management software solution can find themselves in a conundrum when it comes to choosing the most suitable products to manage content and customise a gaming experience.
Using advanced analytics and behaviour tools is key to fully understanding player behaviour and engagement across a platform. Tracking movement, betting patterns, shifts in player preference and time spent on particular verticals provides valuable context with which to cross sell products.
Operators unable to access this level of data, or those who rely on guess work may fall behind the competition.
Matsukevich believes that SOFTSWISS has the solution, “Our Game Aggregator team conducts regular market analyses to identify emerging trends. This proactive approach enables us to anticipate shifts in player preferences and adjust our offerings accordingly, ensuring that our clients have access to a diverse and engaging selection of games.”
The ultimate igaming solution
“In essence, SOFTSWISS serves as a trusted partner to our clients, offering not only a diverse portfolio of high-quality products and solutions but also the strategic guidance and support needed to navigate the intricacies of the igaming industry efficiently.”
After biting the bullet and deciding to branch out with multiple verticals, it can be easy to sit back and rely on player engagement and retention levels to prove that it was the right decision. However, Matsukevich’s advice is that operators should be continuously looking for ways to develop and improve their offering to keep up with industry trends and ever-changing player preferences.
“While launching all verticals simultaneously may seem challenging, operators can mitigate risk by connecting products incrementally and gradually expanding their offerings over time to meet evolving market demands.”
Matsukevich explains that building a product base does not need to happen all at once. In fact, he feels it potentially beneficial for operators to take their time in building a unique space for their unique players. Allowing for future adaptations as player preference evolves. He explains how SOFTSWISS allows operators to combine and adapt multiple products with ease.
“First and foremost, we have developed a seamlessly integrated ecosystem that enables
operators to connect multiple products through a single integration. This means that operators can start with one of our products, such as the casino platform or sportsbook, and easily expand their offerings by integrating additional solutions, such as the jackpot aggregator, without the need for extensive reconfiguration or redevelopment.”
Updating ecosystems alongside emerging trends
For Matsukevich, this consistent market analysis and collaboration with game providers is paramount and helps to not only establish partnerships but also stay abreast of upcoming releases and emerging trends in the gaming industry.
“By fostering close relationships with game developers, we ensure that our game aggregator consistently offers the latest and most relevant games to our clients.”
Matsukevich feels there are two key elements that are paramount to an operator’s strategy for success. Firstly, ensuring a reliable and engaging platform that will attract and retain your target market. And secondly, the utilisation of a leading game aggregator to provide a convenient and efficient way of managing thousands of games from leading developers.