Given how saturated the iGaming market is, the only way to stay at the top is to outperform your competitors in as many aspects as possible. You need to understand your strong and weak points to be able to work on improvements.

This process starts with the platform analytics, which allows you to identify the core points, see how they perform, and provide insights on how to improve them. As long as you use cutting-edge software from Soft2Bet, this analytics is provided to you. The only thing left is to analyze the performance and draw valuable insights. KPIs play a crucial role in it, so we have a list of the indicators that cannot be ignored.

Core KPIs for Operational Success

The successful analysis and modeling start with the basics — the KPIs that should be taken into consideration. The following 7 metrics cannot be ignored if you strive for platform success and customer retention:

1. Gross Gaming Revenue (GGR) — the total player spend minus winnings.
2. Net Gaming Revenue (NGR) — GGR with bonuses, fees, and taxes subtracted.
3. Average Revenue Per User (ARPU) — total revenue divided by the number of active players.
4. Conversion Rate — the percentage of registered users who make a deposit.
5. Daily/Monthly Active Users (DAU/MAU) — users that bet regularly on a daily or monthly basis.
6. Session Frequency and Duration — a player’s interest and engagement.
7. Deposit Frequency and Average Deposit Size — a user’s spending habits.

Those KPIs form the basis that can be used for analysis and insight compilation.

Measuring True Player Worth

Player Lifetime Value (or LTV) is a powerful metric that shows the projected net revenue a player generates over their lifecycle. The software at the core of the casino platform helps operators decide on the player acquisition strategy, bonus allocation, and VIP segmentation. These metrics are a strong source of information for budgeting, personalization of services, and risk management.

Soft2Bet provides advanced LTV analytics that incorporate factors such as acquisition source, geography, and game preferences. Its platform also supports deeper forecasting models that help operators understand likely future player value based on behavioral trends.

What data inputs are necessary? Software takes into account deposit history and frequency of balance top-ups, gameplay patterns, session data, and behavior with bonus offers. Sometimes, support interactions and sentiment analysis are also included.

Keeping Players Engaged

Player retention strategies are not always successful, so gamblers might become inactive at any point in their gambling journey on your platform. It is much easier to predict the upcoming inactivity and try to reimburse player interest in your platform than to try to return them to the website when they are already inactive. Thus, make sure your software can recognize the following churn signs:

• decline in session frequency or deposit activity;
• reduced engagement with promotions or emails;
• negative sentiment in support tickets;
• shortened session duration.

As soon as you can indicate those, you can start taking action for player retention.

One of the most effective strategies is trigger-based reactivation. Those are automated campaigns launched when a player shows signs of inactivity. Some of the examples of such campaigns are: “We miss you” bonuses, personalized game recommendations, or time-sensitive offers designed to encourage players to visit the website and place bets.

It is also worth sending communications about promotions and bonuses via multiple channels to make sure that the message actually reaches a player. Use email, push notifications, and SMS in such cases. This approach increases visibility and responsiveness.

In order to track your retention efforts and see if the actions taken bring a desired result, the following KPIs are used:

• 30-day and 90-day retention rates;
• reactivation rate;
• churn-to-retention ratio;
• ROI of retention campaigns.

Make sure to partner with a professional software provider, like Soft2Bet, to be certain that its solutions for your platform can track such metrics.

Conclusion

Tracking performance is key to the long-term success of a casino or sportsbook. Given this, your platform should have cutting-edge software that allows for tracking of all the essential metrics. Once you see the numbers, you are able to analyze them and get the insights that allow you to form an efficient and cost-effective strategy.