For many businesses, it can be difficult to differentiate your product from others that are already on the market. It’s a constant challenge to set your goods or services apart, and the likelihood is that you’re always in search of ways to stand out from the crowd.
What’s interesting is how competently certain industries approach such an issue. Online bingo and, more widely, the online casino sector as a whole, are one example of those who do this particularly well.
In part, this is because of how competitive this market is. With so many different providers out there and vying for custom, it’s imperative that businesses who wish to profit can offer something that sets them apart from their rivals.
One tool that’s used more frequently than any other is special offers and bonuses. We take a look at how such businesses use these promotions to best effect and the lessons you can learn from their approach.
Special offers as a way to stand out
As we touched on above, businesses that operate within competitive industries will find that their greatest challenge is differentiating themselves from their rivals. They need something that sets them apart from those they’re competing against, whether this is the quality of their products or their pricing.
The latter, in particular, can be a major selling point, especially when the financial situation is not as healthy as usual. Those who can appeal to a seller’s purse strings, therefore, stand a strong chance of being ‘the chosen one’, and special offers can most definitely be used as such an enticement.
We can see this in action when we look, for example, at providers like Paddy Power, who have a page specifically dedicated to sharing their bonus at bingo options. These include, importantly, both welcome bonuses and referral incentives, both of which we’ll touch on below.
Special offers to attract new customers
Special offers are a wonderful way to set your business apart, as is so amply demonstrated by the bingo industry, and they can be used in two primary ways: either to attract new customers or to retain existing ones.
With regard to the former, it’s important to understand that, to new customers, your business is an untried entity. This means that you have to find some way to make yourself seem like a better prospect than your rivals, whether this is by building a strong reputation for customer service, developing a premium quality product, or being the most economical option on the market.
The latter approach is often the most successful with regards to attracting new customers, with special offers being an incredibly effective way to achieve your end and encourage consumers to shop your wares.
Special offers to retain customers
Once you have gained a sufficient following, it’s also important to work on retaining your existing customers, which is why special offers and promotions should not only be aimed at attracting new custom.
Rather, they can also be utilised to encourage loyalty, as demonstrated by the referral incentives that are often found within the bingo industry. These are likely to provide a strong nudge in the right direction, even for those who might otherwise be keeping a tight grasp on their purse strings.
When it comes to setting yourself apart, as well as retaining and attracting customers, the bingo industry is an ideal example of how to use special offers and bonuses to your advantage. Could you use the lessons it demonstrates to the benefit of your business?