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- The online gambling industry is one of the most revenue generating branches of the entertainment business, resulting in fierce competition and saturated markets. Therefore it is essential to efficiently retain gamblers. Churn prediction is a promising new alternative in customer relationship management (CRM) to analyze customer retention.
- Customer retention is highest at online casinos that give out various bonuses. Often, these bonuses are cash rewards, but there could be other rewards such as coupons. Bonuses are such a deciding factor for casino players, these majorly feature in advertising for these sites.
Customer Retention Programs
With increased competition and decreased revenues in the gaming industry, casinos have developed and modified their loyalty programs to attract new customers and build customer loyalty. However, often loyalty programs are not evaluated for their effectiveness. Using data from a Las Vegas casino resort, the effectiveness of a new casino loyalty program on gaming volume was examined. The study used time series multiple regression analysis with autoregressive and moving average terms to analyze the effect of the new program on slot coin-in and table game drop. The results indicated that the loyalty program variable significantly increased slot coin-in at a rate of $302,455 per day, but did not significantly affect table game drop. With the findings and model developed in this study, operators can examine whether loyalty programs are producing the desired effects and develop strategies to improve their effectiveness.
This makes it possible to hold customer satisfaction programs accountable, in the way that other business programs are held accountable, by forcing them to demonstrate their benefits with respect to bottom-line profitability. We use an individual-level model of loyalty and retention, and then build up to market share by aggregation.
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Customer Retention Services
Building and maintaining service quality is one means of retaining casino customers, and thus establishing competitive advantage. https://championlucky.netlify.app/load-gba-games-from-slot-1.html. Conducted in Asia, the current study investigated the relationship between casino service quality, player segments, and customer retention using tiered segmentation. The research involved the conduct of 40 in-depth interviews with gamblers from different segments. The results provide insights into how the various tiers of casino player perceive the key dimensions of service quality and how such perceptions affect future purchase intentions. A number of significant implications are identified for casino managers.