Affiliate marketing gained massive traction this year. Nearly any business in different industries keying into the referral-type of business model operated under affiliate marketing. This business model is not limited to tech giants or the likes of Amazon alone, because Interactive Gaming (iGaming) platforms can also take advantage of it.
As a sportsbook or online casino operator, you want to get insights into how to build your iGaming affiliate marketing network. We will share these ideas so you can start maximizing other forms of marketing to attract new users to your iGaming platform.
What is an Affiliate Marketing System?
An affiliate marketing system is a system that is configured to handle referrals of new users to an iGaming platform. It is based on the affiliate marketing business model, whereby third parties are empowered to introduce new users or customers to service and earn commissions for doing so.
Your affiliate marketing system will do the same thing, with the addition of automating the player acquisition and retention process.
Advantages of Affiliate Marketing Network
Here are some of the benefits of integrating an iGaming affiliate marketing software into your online gaming platform:
Reach More Targeted Audiences
No matter the location you are targeting or expecting your users to come from, it may be impossible to cover them all at once. Employing the services of affiliate marketers would help you reach more people.
Besides, these affiliate marketers have been in the industry for a while. So, they understand the needs of the clients and know how to attract new users to those gaming platforms.
Greater Returns on Investment (ROI)
It doesn’t matter if you are just starting or if you have been operating the iGaming platform for a while. One of your major goals is to get new users while saving costs.
Well, you can kill both birds with the affiliate marketing network. A majority of the affiliate marketing models require the client (you) to pay the affiliate marketers only after they must have completed an action, such as generating new leads (attracting new players) or getting those players to create an account on the gaming platform.
More Exposures for your Gaming Platform
Most of these affiliate marketers have an extensive network that stretches as far as the international market. This tends to give your online gaming platform more exposure, as you can now promote the platform beyond the jurisdiction where you started it.
Steps to Building Your iGaming Affiliate Marketing Network
These are the things you need to do to build an affiliate marketing network for your Interactive Gaming (iGaming) platform:
Decide on the Type of Software to Use
The affiliate marketing network you want to set up would run on software. Two kinds of software exist:
- The White Label software: This type of software solution is provided by the iGaming software provider, with the functionalities already customized. Also, some affiliate marketing networks must have been integrated into the software. So, all you have to do is to pay for it and start deploying.
- Turnkey software: However, you may want to be a part of the development process – and even select the type of affiliate marketing network to be added. In this case, your iGaming platform would be an independent turnkey iGaming platform with the addition of being a part of an affiliate marketing network under the control of a third-party partner.
Make the Affiliate Marketing Network Compatible
Another thing you want to do is to make the affiliate marketing network compatible with some of the other integrations on your platform.
The compatibility of the software should focus on the following areas:
- Flexible tracking of the primary and sub-iGaming platforms.
- A unified affiliate marketing system that tracks everything from one interface, without the need for additional integrations, plugins, and extensions.
Develop the Affiliate Marketing Models
Another thing you want to do is to develop the models for the affiliate marketing network. This has to do with the types of commissions and how they are shared.
These are some of the popular affiliate marketing models used by iGaming platforms:
- Cost-Per-Lead: Lead generation is one of the marketing models used in iGaming affiliate marketing networks. In this case, affiliate marketers are paid for attracting the lowest costs for each lead generated – players that sign up at the iGaming platform.
- Revenue Sharing: This is both one of the best affiliate marketing models and the most sustainable. Affiliate marketers are paid a specific commission out of the total net profit generated by the gaming platform operator from each punter that was referred by the marketer.
- Tiered Hybrid: In this type of affiliate marketing model, the affiliate marketer earns both from the Cost-Per-Action (CPA) and Revenue Sharing model. To put it in perspective, the affiliate marketer earns a commission for generating new leads, as well as receiving payments for every deposit made by the punters.
- Cost-Per-Acquisition (CPA): This is the type of iGaming affiliate marketing model that pays the affiliate marketer only after the referred users take valuable actions, such as adding money/bankroll to their betting wallet or wagering on a game.
Invest Heavily in Marketing
You also need to invest a lot of time and money in marketing your iGaming platform’s affiliate marketing network. This is done to recruit more affiliates to be a part of the network. This can be done by:
- Placing banner ads on iGaming platforms, such as blogs.
- Driving traffic (both organic and paid) from social media platforms, such as Facebook.
- Doing Business-to-Business (B2B) marketing.
You can start building a viable iGaming affiliate marketing network for your online gaming platform using the tips we shared in this article. It will be difficult at first, but once you gain traction in the market, every other thing will be easier, as the affiliates would do the major job of marketing while you consolidate on developing the platform more.
Related post: How Technology Shaped the Gaming and iGaming Industries
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