Five important issues igaming platforms can solve for market entrants
For any new operator, the standout challenge when entering a new market is trying to cover every angle before launching.
The best way to tackle this is to break down each task one by one. Operators need to ask themselves what the market is looking for, and if their portfolio marries up player demand. Alongside some tougher questions – Is the tech up to standard? Should we outsource any of this tech or purchase it from a third party? Have we tested these products enough to ensure they withstand the challenges they will encounter after we go to market?
It is the answers to these questions that leads to iGP’s five-point plan that helps operators have the strongest possible platform that caters to the needs of the market and achieve sustainability in the long-term.
As Markota explains, it’s best to start with the basics. “The overarching challenge is to launch with the right technology, people, and partners in place,” he says. “If you set this up correctly from the beginning, then you will have a tier one offering.”
By following a few simple steps in partnership with a leading platform provider like iGP, he believes an operator can propel itself ahead of the competition.
Markota explains, “These steps are standard procedure at iGP. From first contact to successful delivery, we work with both operator and player in mind. By keeping the player experience at the forefront, we ensure the platform backend and technology stack can fully support a successful and adaptive performance that provides a world-class experience.”
Player research and analysis
“It requires an experienced team who understand what it takes to implement the technology which will allow the platform to thrive.”
Even if you go into the market with a relative understanding of the technology required to be successful, player behaviours can change at any time. It is key to avoid rushing to market without a clear strategy for that chosen market and acknowledging what will work for those specific players.
The best place to start is by conducting comprehensive market research as cultural nuances play a major factor in determining what players want and don’t want from their gaming experience. At this stage, there are a number of questions operators should look to address. What types of games do players like to play? What kind of user interface do they find easy to use? What would make them likely to continue to use one particular site?
These questions are only one part of the jigsaw, getting to grips with the complexities of compliance and regulations is next on the list.
“You have to be very diligent,” Markota says. “It requires an experienced team who understand what it takes to implement the technology which will allow the platform to thrive. From that point, it is essential to know your customer and make sure you are adhering to the needs of the market. You have to look at the data in front of you and work out which particular products will match perfectly with different player demographics.
“The research and analysis is conducted by compiling data from our audience. We operate globally, so we have many data points to harvest information from and work out an effective strategy for each market based on the data we have.”
Boost your brand’s capabilities
“Our core offering touches on many areas and we have built reliable, sustainable products and features that are designed to stand the test of time.”
So now you know which particular products the market is asking for, but you’ve got to build your portfolio from the ground up. This is the part where your market research has to be put into action.
The next stage is to bring to market a diverse offering that encompasses all the relevant needs of the player base. In iGP’s case, it’s not claiming to have revolutionised the industry, but instead focusing on making sure the vital products and features are all being provided to the highest possible standard. iGP can help here with iGaming Platform, iGaming Labels and iGaming Deck.
Within the white-label iGP platform, it provides a range of services, including: advanced reports, a vault engine, a content management system, a bonus engine, and a fraud and risk management.
iGaming Labels presents a product offering of ready-to-launch templates for online casinos giving partners the chance to make the most of a seamless transition from concept to operator.
Markota explains iGP’s latest release, “The most recent addition is iGaming Deck, our single API aggregator. iGaming Deck delivers a fully intuitive UI through a centralised hub. The enhanced promotion tools within iGaming Deck give operators more control of how they deliver promotions and bring the action to life for their players.
“The action can be controlled via a live dashboard. From promotions to risk limits to game configuration, operators can take control at a brand and player level.
Markota says, “By having a clear understanding of requirements and dependencies of the personalised features, we then develop a structured roadmap for a smooth integration.
“Our core offering touches on many areas and we have built reliable, sustainable products and features that are designed to stand the test of time. It is key to cover all bases, and this is something we will have to remain on top of as the industry continues to develop.”
The mix of in-house and outsourced tech
“When it comes to the issue of developing in-house versus outsourcing, there is no obvious answer, but it’s about utilising the best of both sides.”
The next challenge is one which applies across the industry. Operators will often deviate between developing products in-house and outsourcing to third parties. It may take some time to establish which areas of the business would benefit from external support, and that can depend on the expertise of the team you have around you.
“At iGP, we decided against taking a one-size-fits-all approach to this area. Last August, we partnered with CRM specialist Fast Track, a player engagement platform created specifically for the igaming industry that pioneers CRM digitalisation. This helps us to give our partners the opportunity to roll out hyper-personalised marketing campaigns at scale.”
Partnering with Fast Track allows iGP to focus on a suite of products and features. The key is to work out which areas where it would be more beneficial to outsource your operation, both from a budget point of view and an expertise point of view.
Markota says, “When it comes to the issue of developing in-house versus outsourcing, there is no obvious answer, but it’s about utilising the best of both sides.
“If you weigh up the time and cost it will take to build a particular product against bringing that tech in from outside, while of course taking into account the needs of your partners and the quality of product required, you can work things out on a case-by-case basis.”
Bringing sportsbook and casino together
“If you can find a solution to bring both verticals together, you can make the best of both and offer something even better for the player.”
There are many nuances within each gaming vertical and looking at sportsbook and casino, these are two very different audiences which need to be catered for.
iGP has tried to address this with the introduction of Tropicana; a template it has made specifically to target the Latin America (LatAm) market.
When the player is navigating in the casino, iGP will deploy a sportsbook widget which will present a list of ongoing matches, which can generate a payslip in one tap, without moving away from the online casino.
Similarly, the widget can show online casino offers and games while the player is using the sportsbook. Aside from that, there are targeted promotional and loyalty programs that we are building, which will encourage players to engage with multiple product lines between the verticals.
Markota explains, “Eventually, we plan to personalise Tropicana further and vary the content from one player to another. This will be very important in our plans for growth in LatAm, but the basic principle can be applied across the market.
“If you can find a solution to bring both verticals together, you can make the best of both and offer something even better for the player.”
Before you launch, test for success
“We monitor client adoption of the new product or feature and its impact on processes as well as what the product has contributed to our learning and improvement.”
After everything is put in place, the last challenge before launch is to ensure an operator will encounter as few problems as possible when deploying the products.
Product testing offers an essential benchmark of success following research, analysis and launch. Testing isn’t only impactful on external improvement, iGP’s team utilises the testing process as a way of driving forward internal learning and performance.
“Technical performance is always critical. We monitor client adoption of the new product or feature and its impact on processes as well as what the product has contributed to our learning and improvement.”
Why this makes a difference
There are many operators who find it difficult to challenge their elite competitors in their target markets, often as a result of failing to ensure their technology, product, and ultimately their platform, are up to scratch. Getting on board with a supplier that has carefully taken all five of these steps into consideration can make all the difference.
“Partnering with a supplier that strategically pinpoints gaps in the market and diligently considers all aspects of operation, making sure you have a fully-functioning and reliable platform, is one of the key steps to sustained success.”