Many bookies leave at random the generation of new customers for their betting site and believe that it is enough to place a few ads on social networks to attract customers.
Place the ads is only the first part of the process of generating new customers, this process also needs control and manage to ensure that is working in the best way. That is why is ideal to have a measurement funnel.
A funnel is a tool used to determine the percentage of losses that occur at each stage of the client’s journey since he saw the advertising of our betting site until he managed to fund his account on the site. A funnel is an excellent tool to measure and control the effectiveness of marketing campaigns, in addition to identifying possible areas for improvement on the functionality of the betting site.
The best way to understand how a funnel works is through an example:
A bookie launches a social media ad campaign offering $ 50 bonus to those who fund their account for the first time on the betting site. The campaign generates 1000 visits per day to the betting site, of those visits only 2 on average are claiming the bonus. That is, the conversion rate is very low of just 0.2%. Which indicates that something is not working well. A funnel can help determine what is failing, to generate a funnel for this case, first we need to identify the steps that the user needs to perform from the moment he sees the ad until he claims the bonus.
1. Enter the website and click on the button to claim the bonus
2. Complete the form with the user’s data and the funding method and click on the submit button.
3. Confirm the creation of the account
Once the steps and pages through which the user must pass have been identified, the drop-out rate must be measured in each of the steps, here we present the same example with drop-out data:
1. Enter the website and click on the button to claim the bonus. Drop-outs: 850
2. Complete the form with the user’s data and the funding method and click on the submit button. Drop-outs: 147
3. Confirm the creation of your account.
As we see in the example, more than half of the visitors are leaving the page at the beginning of the process, that is, they are not even clicking on the button to claim a bonus. This can be an indicator that you have to improve the design of this page and that the button is not being very visible to users.
In the case of dropouts on the page of the form, this may indicate that the form is very difficult to complete or the experience of completing it is not very user-friendly.
A funnel can be very useful to improve the profitability of the betting business.