According to Harvard Business School, a five percent customer retention improvement can easily lead to a 50 percent increase in earnings. Amazing isn’t it? Just imagine what a 20 percent customer retention improvement would do for your earnings. And with over a decade of experience with player behavior, helping you to maximize player retention is something Royal Panda’s retention team knows a lot about.
What is retention?
If you’re wondering what retention is, businessdictionary.com defines it as “the condition of keeping something”. In relation to the online casino business, it means to keep your players playing; to keep them loyal. By giving online casino players the feeling that they will miss out if they play somewhere else, Royal Panda ensures their loyalty. In addition to its distinguished customer service, one of the cornerstones of the in-house developed retention strategy is Loyal Panda, Royal Panda’s loyalty program.
Royal Panda’s loyalty program "Loyal Panda" was launched with one basic principle in mind: that success is getting the right players, and keeping them. Loyal Panda helps to serve those players in a manner befitting the loyalty they show.
The idea is simple: a loyal player is entitled to more bonuses, and better promotions and perks than a player who simply joins Royal Panda to get the ten free spins given to new players. Everybody is welcome, and everybody will have a royal good time at Royal Panda. But thanks to Loyal Panda, loyal players will be given an experience unlike that of any other online casino. And you will see that reflected in your monthly commission statements. That’s a promise.
You want proof? We’ll give you proof!
Still not convinced about the importance of loyalty? Read the following five mind-blowing retention facts that will undoubtedly win you over.
- 81% of consumers are more likely to give a company repeat business if they receive good service. (source)
- Loyal customers are worth up to ten times as much as their first purchase (source)
- Companies that prioritize the customer experience generate 60% higher profits than their competitors (source)
- It costs five times more to acquire a new customer, than it does to keep your current ones (source)
- 17.1% of all customers name good loyalty rewards as a means of keeping them loyal (source)