Competition is fierce in the gaming sector and player loyalty is not a given. Players are targeted with a huge range of incentives, bonuses and offers to switch to different gaming platforms, no doubt your company is part of the problem for your competitors!
While a certain amount of customer churn is to be expected, when VIPs switch loyalties the impact is more deeply felt. That’s why many gaming operators invest in VIP management programmes – to protect revenue streams and retain VIP players.
In gaming where there is no guarantee a player will win, VIP programmes actually give them some certainty. Getting invited to join a VIP programme is a reward for putting the time (and money) into the brand. Players can clearly see how they can qualify for larger benefits by earning points or rewards for simple things like a daily sign in. These motivators are not down to luck, they’re earned or can be bought to increase the chances of a win.
Of course VIP programmes come at a cost. While operators can quickly see excellent ROI, investment is needed to implement or develop programmes across all gaming brands and products. If your budget for customer retention and loyalty is already spent, where can you generate further revenue to invest in programmes that will keep VIPs loyal?
We’ve got a suggestion.
We can give operators access to a new revenue stream that could be reinvested in a VIP management programme, or invested elsewhere. It’s a way of saving substantial amounts of money on payment processing costs by switching VIP players from traditional payment companies to MuchBetter.
Annually, 5% of revenue generated by a VIP player via traditional payment companies is actually payment processing costs. Typically operators will give back 5-10% of that revenue as VIP benefits. However, if your VIPs use MuchBetter, you could reinvest 25-50% in a VIP programme while at the same time reducing payment processing costs by 50-100%!
Our app-based wallet has been developed specifically for gaming operators, addressing their key challenges such as fraud, bonus abuse and the negative side effects of money churn.
Reducing the effects of money churn is where savings can be made and money reinvested into your VIP programmes. While traditional payment companies charge fees on every transfer to the operator, as well as transfers from the operator to the player, we don’t.
Instead we use a unique Net-Deposit Pricing model that assesses the transaction activity for each player within a calendar month for each gaming operator. Fees are only charged on the Net deposit amount of each player during that calendar month.
This commercial model can reduce payment processing costs by 100%! If that seems hard to believe, download our VIP case study which demonstrates exactly how these savings are made – click here.
Even when players are winning, operators can save money and not just on VIP activity. Any player using MuchBetter to transfer to and from the operator can save you money on processing costs.
Now your VIP manager can have his cake and eat it!
To understand in more detail our value-based pricing model and the savings available to gaming operators like you, download the VIP case study.
Or to discuss how to integrate MuchBetter with your platforms and get those savings right away, get in touch with our team.