Casino cards laid out – original image
Launching a digital business isn’t a particularly uncommon experience these days. A lot of people are eager to capitalize on the opportunity offered by the online space, and that means there are also a lot of people looking to better understand exactly how that can be done well. In fact, it’s thought that around 5.1 million new businesses are started each year, many of which will be predominantly or even totally online. Small wonder, then, that a lot will be trying to figure out the best ways to bring customers in.
And one of the best models of how to attract – and keep – customers? The online casino. Let’s figure out how their welcome bonuses work and why they are so attractive to customers.
What Is A Welcome Bonus?
If you go to claim a casino’s welcome bonus you’ll first need to read up on the offer, but in basic terms, these are special bonuses aimed at brand-new users. They’re usually awarded when a new customer successfully signs up and funds their account, ready to play the games on offer.
The specifics can vary, but most of these bonuses will offer cash matching of some description, as well as other benefits, such as free spins. For instance, if you look on Cafe Casino’s site, you’ll see matching of 200% on amounts up to $1,500 for fiat currency, or 300% on amounts up to $2000 for cryptocurrency. You’ll also receive free spins, which can be used on Cai Fu Dai Panda, Pearl Pursuit Hold & Win, or Sushi Wins Reels and Rolls. Again, the kind of money used to fund the account will determine how many free spins are received.
In short, the idea is to reward a player for signing up to the casino and encourage them to try out a few games at the same time.
Why Are Welcome Bonuses Effective?
The basic answer to this is that all offers have an inherent attractiveness because they capture attention and help a user to feel like they’re getting good value, but there’s something much more important that a welcome bonus is doing. It overcomes a real point of friction that all acquisitions tend to run into.
When a customer views a business’s product or service, regardless of what it is, they’ll feel a bit of hesitation. Is whatever they’re receiving going to be worth the money? What if they don’t actually like the product or service? Would they get a better deal elsewhere?
The welcome offer homes in on that hesitation and directly combats it by offering additional value and an opportunity to actually try the product (which is what makes free spins such an attractive option). They can find out if they enjoy the games the casino offers, both through the boosted funds, which let them try more games in a wide range of categories, and through the free spins, which let them explore a handful of games without putting any money on the line.
Both of those are attractive elements, and businesses should consider how they can apply them to their own areas. Ways to boost value might include additional matched funds, as with a casino, or reductions on certain products that the customer might like, or possibly a percentage off the customer’s whole order. Ways to allow a trial of a product might include a week’s free trial, some freebies alongside a purchase, or something similar.
Think about these in creative ways and try to find unique value to help your business stand out. Many casinos will have a few unique games that encourage users to select their site over another one.
What To Be Cautious Of
Of course, not everything belongs in a welcome bonus, and one pitfall to be very cautious of is excessive complexity. A welcome offer should not require in-depth reading and lengthy perusal to understand. It shouldn’t contain twenty different, very mixed rewards.
In most cases, sticking to a couple of simple, easy-to-understand options is the best way forward; it will let users understand what they are getting very quickly, and will avoid confusion that could lead to frustration. Tell readers plainly what they will be getting, use bullet points to clarify anything that might be confusing, and have an FAQ page or respond promptly to queries.
Include Other Offers
A welcome offer has one basic job: attract people to your business. However, there’s a whole lot more work ahead in keeping them – and that means you need to focus on offers beyond the sign-up page.
You should consider what ongoing customers are likely to value. For a casino, it could be things like:
Those elements obviously need to be adapted to suit your own business needs, but they provide a good starting point and can provide ongoing interest in a business. Don’t simply stop at the welcome offer; go a level deeper and ensure that you maintain customer interest going forward.
Increasing your retention by as little as 5% can boost your profit by as much as 25%, so this is highly worth considering!
