SBC News Adi Dagan: Beehive - An intrinsic link! Redefining industry retention & intelligence values

Adi Dagan: Beehive – An intrinsic link! Redefining industry retention & intelligence values

SBC News Adi Dagan: Beehive - An intrinsic link! Redefining industry retention & intelligence values
Adi Dagan

Ahead of ICE 2017, Adi Dagan CEO & Co-Founder of Beehive software, speaks to SBC on the changing industry landscape with regards to customer retention and business intelligence.  

 Leading Beehive operations which in 2016 won numerous industry clients, Dagan tells SBC readers that placing data first industry stakeholders can no longer afford to be ‘stabbing in the dark’ when planning and strategizing their retention goals.  

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SBC: Hi Adi thanks for the interview. Amid a growing focus on data and intelligence, how is betting and igaming retention changing?

Adi Dagan: The two – data and retention – are now intrinsically linked. For a retention strategy to be effective and efficient, it must be powered and supported by data – if not marketers are very much stabbing in the dark. By using the right data in the right way, operators and marketers can target players with the right communication at the right time, offering them the incentives and rewards they need to keep returning to their brand time and again. In the past, it has not been possible to deliver such an individual and tailored approach, but data has changed that and will continue to force a shift in the landscape as we develop the technology that allows us to collate and analyse it.

SBC: Dealing with multiple verticals and products serviced by the majority of operators, what is Beehive’s core approach to industry retention practices?

AD: Regardless of whether you are a casino, poker, sportsbook, bingo or lottery operator – or all of the former – the same approach to retention applies. First and foremost, it is about adopting a data-led strategy and using the information you gather to shape core marketing practices. But it’s not just about gathering as much data as possible; the information needs to be properly segmented – our platform allows our partners to cluster players under hundreds of different factors – and presented in a way that makes for easy and efficient analysis. This should be accessible 24/7, 365 days a year so that marketers can instantly react to any emerging trends.

SBC: From a retention perspective, what new core values are Beehive witnessing in industry clients?

AD: It’s up to seven times more expensive to acquire a new player than retain a current customer, so operators are dialling in on how to reduce promiscuity and churn. They also understand that a loyal player offers far more long-term value than a player who takes advantage of a bonus offer, plays for a day or two, then goes elsewhere. In fact, loyal players are worth up to ten times their initial deposit. With this in mind, retention is overtaking acquisition as the core purpose of marketing efforts; that’s not to say operators are not looking to acquire new players because they are, but keeping hold of their customer base is very much front of mind.    

SBC: Can the industry learn effective retention processes from outside sectors or companies…who should industry stakeholders follow?

AD: They can, but the online gambling industry offers some unique quirks and foibles that don’t apply to other industries. That is why we established Beehive in the first place – to offer gaming operators a marketing platform designed specifically for the sector. If anything, we believe the online gambling industry is pushing the boundaries when it comes to effective retention process and the way data is being used to strengthen strategies and foster new approaches. Keeping hold of customers is more of a challenge in our industry than most, and that is why we have had to develop a platform that is innovative and ground-breaking. 

SBC: Can industry operators gain differentiation from new retention processes? Does retention reflect individuality for bookmakers?

AD: Operators approach retention differently, from the way they segment data, read into what it is saying, and act upon it. That is why they need to work with a marketing platform that is flexible and can be moulded to their individual needs. By taking an individual approach to retention, operators can have a point of difference in the way they communicate with their customers, and the messaging and bonusing they offer them. A one-size-fits-all mentality does not work with retention, meaning bookmakers can take the approach that suits them best and reflects their wider branding and voice.

SBC: Coming into 2017 how will Beehive continue to grow its services and operations within the betting/gaming sectors?

AD: We have ambitious plans to grow our geographical footprint, particularly in emerging markets. The gaming industry is growing at a rapid rate, with new regions licensing and regulating the activity. It presents a huge opportunity for companies such as ours to enter these markets and help operators make the most of the big data from the outset. We are excited by the prospect of building a truly global business, and racking up some serious air miles in the process.

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Adi Dagan – CEO & Co-Founder – Beehive B.I.

SBC News Adi Dagan: Beehive - An intrinsic link! Redefining industry retention & intelligence values

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