Hitting the Millennial sweet-spot
Millennials are fast turning into the dominant consumer group, but sportsbook operators and marketers are finding it hard to tap into this increasingly key revenue stream.
Sabrina Solda, chief marketing officer at BtoBet, looks at what sets this demographic apart and suggests ways in which these players can be effectively targeted.
Millennials’ influence is growing and soon they will turn into the dominant consumer group in the gambling industry. The most important thing for this group is the ability to express themselves.
Sometimes that means tattoos or podcasts, while other times it means finding a hashtag for themselves and sending hilarious emoticons.
It has, however, become an increasingly difficult challenge for sportsbook operators and marketers to tap into this key revenue stream.
Millennials want to enjoy action through technology, and the gambling industry certainly has the potential to provide this and therefore attract and retain them. It can make Millennials’ betting experience a new source of entertainment, fun and also income.
Technology has played a crucial role in the advancement of sports betting, and Millennials tend to adapt to it faster than older generations. Betting from phones or tablets has become the norm nowadays, and it is a must for the younger generation.
Offering new side bets and exciting games is the way to appeal to this Millennial audience, with unique and seamless experiences.
Numerous studies have identified that Millennials prefer playing and betting when an element of skill is required.
Land-based shops should also consider diversifying their offer; not just in terms of gambling options, but also creating a comfortable and entertaining atmosphere where they can meet with their peers; for example, digital and interactive zones with Wifi and phone charging facilities that make the environment more attractive and fun for this particular demographic.
Here are a few of my own suggestions:
- Provide the opportunity to wager money ($10) and have some hours of action experience to share with friends;
- Enable new audiences to earn points and compete against fellow punters;
- Combine the excitement of sports betting with the interaction of social media to create the ultimate social betting experience;
- Create a social network for the sports betting community, allowing users to stay connected while betting;
- Add the best-performing tipsters so that the player can choose the one that best suits their needs, subscribe to him and bet on his tips, also receiving an email alert once he has picked new bets. The player’s betting account will grow monthly, depending on the tipster’s performance;
- Include DFS (daily fantasy sports), a product that retains the attention of the new growing audience and requires skills and creativity in picking their own team, therefore providing that blend of commitment, challenges and fun that young players like.
It is vital that bookmakers are aware that this new prospective young target likes to feel special, and for this reason they are particularly attracted by personal and personalised offers.
Advanced technology and artificial intelligence allows operators to register Millennials, monitor their behaviour and verify their preferences to provide them with the ultimate personalised experience.
For this, we have developed an intelligent recommendation engine to personalise the gaming offer according to each individual player’s needs and requirements, giving them a truly personalised gaming experience.
Millennials were born in a time where technology has enabled them to socialise and connect with friends through the digital realm, with technology playing a fundamental and fully integrated part in their day-to-day lives.
They access their entire world through technology; whether it’s for work or play. By choosing an omni-channel platform, an operator can offer Generation Y the opportunity to choose what they want and how they want it, which will invariably lead to an increase in customer loyalty.
Millennials are tech-savvy, natural-born multi-taskers, and they consider self-expression extremely important, which is why operators need to make venues more relevant to them, giving gamification and social gaming the special attention they deserve.
As BtoBet Chief Marketing Officer, Sabrina Solda plans and implements BtoBet’s inbound marketing strategy to drive awareness and demand in the global market.