The World Cup may be behind us, but the betting shop business never really slows down.
However, betting shop customers can frequently get slowed down by the long procedure between actually entering a shop (or website) and placing the bet. And what happens then?
With so little time today, customers often just leave without actually doing any business with the shop. But the thing is — this procedure doesn’t have to take long.
You should aim to have customers in and out of the shop in no time, and this is done through modern user verification solutions that help streamline the experience.
Sounds exciting? Read up…
Online betting shop security and experience crucial for increasing sales and retaining customers
UX design has become a science of its own — and with good reason.
In fact, 43% of users simply abandon an onboarding process when they are met with friction related to proving their identity and/or verifying their phone number.
That’s a huge customer drop off and small improvements to your process significantly increase your revenue. One of the biggest opportunities lies in the way you manage their digital identity.
To illustrate, 87% of people feel either neutral or dissatisfied with the way their digital identity is managed. That’s a huge market that you could tap in and win over.
And this would not only benefit your customer acquisition, but also customer retention, which very well may be even more important
Did you know that retaining an existing customer is 5 to 25x cheaper than acquiring a new one? On top of that, a 5% increase in customer retention increases company profits from 25 to 95%.
What does your onboarding process currently look like? The specifics will depend on your location, but typically, you’ll have to prove your identity as an of-age person through a process that includes submitting your ID number, address, or similar information.
It all takes time and can cause your customer to become frustrated, causing them to leave.
Now imagine all it took was one click. That’s the way in which IPification works. It uses a user’s device, phone number and telecom data to assign them a unique Mobile ID key which it verifies them against.
For mKYC specifically, it leverages direct connections with Telecom operators and their CRM systems, and our APIs, upon explicit user consent, to pre-fill users’ KYC data stored on the telecom side, thus identifying them upon verifying their phone number. Additionally, the solution can match the data users input manually against the data from the telecoms.
I’m sure you’d agree that’s a whole different story. But it shouldn’t end with your online shop.
Aligning the brick-and-mortar betting shop user experience for maximum impact
In the era of the digital, user experience in the context of brick-and-mortar locations isn’t nearly as talked about, but it’s just as — if not more — important.
In the olden days, do you remember the various discussions around product positioning strategies in stores and their effectiveness? The same tactics hold true today.
With that in mind, bettings shops too (and any other businesses that require customer identity verification before purchases) could seriously benefit from aligning the brick-and-mortar experience with the online user experience.
Not only would it mean a more unified, branded experience, but it would also make it faster and easier to convert customers thereby resulting in a higher number of customers.
We’ve recently partnered with BalkanBet and MeridianBet, the leading betting companies in the Balkan region, on both in person and digital identity verification.
For example, BalkanBet users can now verify their identity by scanning a QR code at the front desk after which they’re verified in milliseconds.
As described above, this is done through verifying the users’ unique Mobile ID key. It is composed of the user’s device, phone number and telecom data, and the data itself is never transferred to ensure maximum data privacy.
In cases when the user isn’t using a SIM card from one of our many mobile network operators (which is a requirement of using the flagship IPification solution), IM auth jumps in as backup.
To verify their identity or phone number, users choose an IM app, WhatsApp, Viber or Telegram, send an automated message to IPification, and they’re instantly verified. It’s three easy steps!
In both cases, the user’s identity is verified with no friction, and with maximum security and data privacy, and they’re ready to place the bet right away, putting an end to the potential customer drop-off — and even helping you attract customers that may otherwise choose your competitor.
Of course, the exact implementation of IPification solutions would depend on your mobile app and other systems that you use. But we’d love to talk about that with you and come up with a great strategy.
Contact us today to schedule a free consultation.
