Betting Retention Specialist - Early Churn Specialist

If you have worked or currently working within the betting sector then this will come as no surprise.

If you do not work in the betting sector then this will be a new challenge for you to solve.

One of the key strategies to acquire new customers is to offer a free bet to entice them to play. Customers will have to meet the wager requirements of course, but if they do that and continue to play - then the likelihood of them becoming a longer term customer is improved.

The reality?

Customers do not stay and anywhere from 40-70% of them will churn within the first 4-6 weeks. That is a lot of lost revenue!

HERE IS THE CHALLENGE:

This is a highly competitive market with everyone offering similar free bets.

The betting sector has a fairly unique model - free bets, high number of betting savvy customers take it up, make a bet and move on.

The products that are on offer cannot be easily or quickly changed - in most cases they simply will not change, therefore there are fewer levers to pull

Let's be honest - the short term acquisition model probably won't change.

However, how can we find the right balance of acquisition and retention strategy so that we can reduce even a small percentage of the current churn?

THIS IS WHAT (WE THINK) WE NEED:

We are looking for someone to design a specific retention strategy for customers who churn within the first 4-6 weeks, then run pilots to see if there is a tangible improvement of retaining more customers.

You will need to have a mixture of analytics, marketing and customer experience skills to reduce churn, such as:

- Proven experience of identifying earlier churners
- Multiple customer strategy - not all customers who take up a free bet want the same experience.
- Look at customer behaviours through predictive analytics, frequency of usage, active days, spend and bet type etc.
- Look at journey analysis and possibly simplifying wager requirements to make it easy for customers to understand and more user friendly.
- Provide personalisation to help with a unique customer experience.

Ideally - you have already done this before and have some proven metrics to talk to my customer about.

We are holding interviews this week with a likely workshop with my customer next week to move forward.