Marketing 6.0: strategies for Latin America

Casino marketing constantly evolves, and operations must keep pace with innovation and trends to remain competitive.

In this dynamic landscape, Marketing 6.0 emerges, an innovative approach beyond simply selling. It focuses on creating immersive and meaningful experiences for customers and trying to build a positive impact on the world.

In this article, we will explore the principles of Marketing 6.0 and the various strategies casinos can use to thrive in the iGaming arena.

What is Marketing 6.0?

At the end of 2023, the renowned father of marketing, Philip Kotler, along with other authors, presented the book ‘Marketing 6.0’. The phrase ‘The Future Is Immersive’ stands out on the book's cover. Following this premise and summary, we can affirm that the renewal of marketing and our understanding of it is imminent. The key lies in understanding how this concept demonstrates the interconnection between physical and digital reality.

The concept of Marketing 6.0 is based on five fundamental pillars:

1. Technology and humanisation: Using advanced technology to understand and meet consumers' emotional needs.
2. Ethics and sustainability: Implementing responsible and sustainable practices in all marketing facets.
3. Advanced personalisation: Leverage big data and artificial intelligence to deliver hyper-personalised experiences.
4. Omnichannel interaction: Ensure a seamless and consistent customer experience across all touchpoints, seeking to make this interaction at least simulated and close to human contact.
5. Shared value: Create value for the company and society in general.

Marketing 6.0 Strategies in Latin American iGaming

Cultural Adaptation & Strategy Customisation

For online casinos in Latin America, it is crucial to adapt 6.0 Marketing strategies to the region's cultural diversity. Each country, and often each region within a country, has its own customs, gaming preferences and consumer behaviours. This means understanding local preferences and customising offers and promotions. Using data analytics to identify specific behavioural patterns and create targeted campaigns can significantly increase customer retention and satisfaction.

Customer Retention: a Fundamental Principle

According to the consulting firm Latam Entertainment, in an article for YogoNet, a company can maintain the stability of its customer portfolio in time and magnitude through quality and satisfaction. To work on this retention process, we use the concept of flow, developed by Mihály Csíkszentmihályi, which is precisely what we must do with customers so that the relationship does not end, and so that time passes into the background. The main objective is to generate a positive impact to retain users, creating moments of truth as the meeting point between what the platform offers (games, attention and service) and what the user expects. These encounters make it possible to connect the product with the customer's expectations.

To analyse this metric and calculate its scope in each step of the strategic process, we wrote an article on essential KPIs in the iGaming industry, which you can find here.

Based on statistical data from QuestionPro, acquiring a new customer is six to seven times more expensive than keeping an existing one. In addition, by simply increasing the investment in customer retention by 5%, a company can achieve a 5 to 95% increase. 

Four types of strategies must be considered to develop effective retention programs:

Provide Close, Personalised Treatment

Personalisation is one of the most powerful tools in the modern marketing arsenal. Delivering a seamless and enjoyable customer experience involves several strategies. Personalised interactions are crucial, as customers appreciate being recognised and treated as individuals. Casinos can leverage customer data and technology to personalise their interactions through customised greetings, personalised recommendations or targeted promotions. Quality customer care and service in customer service is another critical aspect, ensuring that every customer interaction is positive and memorable. From attentive staff to quick problem resolution, they build trust in the brand and leave a lasting impression.

Surprising Users in a Positive Way

Bonuses and surprise rewards can significantly improve customer loyalty, demonstrating that the company values its players and is willing to go the extra mile to deliver a superior experience.

In addition, diversifying entertainment is essential, which can extend to live shows, themed events, and exclusive VIP experiences. Offering various unique online and offline entertainment options will keep customers engaged and excited. These options provide additional value and create a sense of community and exclusivity.

Identify Repeat Customers

Recognising, analysing, and rewarding loyal players is essential to keeping them engaged and satisfied. This involves identifying repeat customers and providing exclusive benefits to reinforce their loyalty. For example, developing VIP and loyalty programs, including membership tiers that offer incremental benefits, such as higher bonuses, access to exclusive promotions, and personalised customer service, is essential. According to a ThinkImpact report, a 5% increase in customer retention through loyalty programs can increase revenue by 25-29%.

Consistently Building the Brand

Building a solid and consistent brand is critical to customer retention and to standing out in a crowded marketplace. Casinos must dig deep into their values, vision, and target audience to develop a brand that connects with customers. A compelling brand identity helps connect with audiences on a deeper level, fostering loyalty and generating repeat visits.

Omnichannel Experience

Modern casinos need to evolve into experience-based brands. Delivering an omnichannel experience is vital to iGaming operations. From mobile platforms to multichannel customer service, it is essential to ensure that players have a consistent and seamless experience across all touch points. 

New Audiences: New Strategies

Latin America is a young market where Generation Z and Millennials occupy an essential presence, producing a profound social transformation that reconfigures the essence of casino entertainment. These digital natives seek immersive experiences, authenticity and a sense of community far beyond the traditional appeal of casino games and slots.

Integrating digital platforms, social media, and interactive and personalised encounters marks the beginning of a revolutionary change in the industry. Also, the use of emerging technologies such as virtual reality, augmented reality and artificial intelligence, considered current tools that can significantly enhance the casino experience, offering immersive and personalised interactions, should be considered.

Source: LinkIn to Casino Marketing 

Responsibility & Fair Play

Ethics and sustainability in the iGaming industry are crucial to maintaining consumer confidence and complying with each market's regulations.

• Fair and transparent gaming practices: Casinos must ensure that all games are fair and regulated by independent bodies within each region. This includes using audited and certified random number generators (RNGs). Transparency regarding the odds of winning and the terms and conditions of promotions is critical to building a trusting relationship with players.
• Promotion of Responsible Gaming: This set of measures and practices seeks to prevent problem gambling and promote a safe and positive gaming experience for all users. They are implementing tools that allow players to limit their deposits, bets and playing time. It is also vital to offer self-exclusion options for those who may be developing gambling problems. Providing resources and support for responsible gambling, such as links to help organisations and awareness programs, also demonstrates a commitment to player welfare.
• Ethical communication: Avoid aggressive or misleading marketing practices. Advertising messages should be transparent and honest, well targeted and without exaggerated promises of profit.

Disclaimer: This article has been provided by Latam Entertainment for informational purposes and does not necessarily reflect the views of WA.Technology. Investments in any market, including Latam, should be made after thoroughly analysing and understanding local regulatory and market conditions.