Agreeably, the general sports betting industry has been making significant advances, making it more competitive than ever before. In fact, just recently, a prediction by Grand View Research revealed it had grown to $100.9 billion and could continue growing by a CAGR of about 11%. But as the industry expands, bookmakers often face the challenge of standing out from the crowd.
Thankfully, effectively targeting emerging markets like college sports can actually improve your competitiveness. Interestingly, Marketing Brew recently reported that about a third of the US population supports this sport. Of the country’s 340.1 million population, this is around 113 million, which can be an excellent opportunity for sportsbooks like Hollywood Bet app targeting new markets.
But how exactly do you reach this population effectively? Well, keep reading to find answers.
Align with increased mobile usage
We are in a time when we are using our mobile devices to do almost everything, including betting. In fact, in some regions, more than 80% of sports betting happens on these devices, which might not be any different for college sports fans. And as a forward-thinking brand, you wouldn’t want to miss out on this population just because your website misbehaves on mobile phones.
This explains the rise of responsive platforms like the Hollywood Bet app, which ensure bettors can have seamless experiences, even when using smaller screens. Of course, no one wants to keep pinching or zooming websites because they switched to smaller screen sizes. With responsive designs, sportsbooks can adjust their platforms automatically to fit different gaming devices, guaranteeing great betting experiences.
And the outcome of such designs can actually be mind-blowing. Studies show they can improve conversion rates by 11% more than non-responsive ones. Plus, more than six in ten businesses have witnessed increased sales after implementing them, further highlighting how beneficial responsive designs are for online businesses.
And since 74% of customers are more likely to return to mobile-friendly sites, ensuring your platform is responsive can improve your retention rates. We have already hinted at how competitive the general sports betting industry has become, meaning you may need to do more to attract new customers than to retain existing ones. As such, tactics that help increase retention rates, like adopting responsive designs, are usually welcome.
Prioritize customer experience
Did you know that, according to Contentful, great experiences increase the likelihood of up to 87% of customers buying more? As if that’s not enough, just a single negative experience could affect the buying behavior of about 97% and even cause some to switch to competitors permanently. And, of course, you don’t expect this to be very different with college sports fans.
Modern bettors have become more aware and intolerant of platforms that don’t prioritize their experiences. It is no wonder that platforms like Hollywood Bet app are working hard to ensure bettors have seamless payment experiences, can receive immediate feedback on queries and so on. Take payment methods, for instance. According to Testlio, adopting effective payments can actually raise retention rates by 15-20%, highlighting the importance of reducing friction in these systems.
You don’t want your payments failing every now and then for any reason because that may cause up to 40% of consumers to abandon their purchase. Plus, consider implementing instant payments as another way of improving your competitiveness. According to statistics, you may increase your appeal to about 70% of users who expect payment processing to take no more than 2 seconds. Thankfully, platforms like the Hollywood Bet app are already doing that.
Immediate feedback also comes in handy, given that many people today are fast-paced. According to Convin, 70% of consumers want that. Since this may not be different for this target audience, providing immediate feedback can really be helpful.
Don’t ignore online security
With the number of cyberattacks increasing, it makes sense that almost everyone is paying attention to their online security, and you do not want to seem indifferent. In fact, research shows that about 85% of individuals want to strengthen their efforts in protecting their online privacy.
Things could even be more serious in the sports betting industry, where security incidents have become very common. That’s why adopting more robust security measures could actually be a marketing strategy. Remember, a good number of bettors will often survey platforms’ security before engaging, explaining why Hollywood Bet app and other reputable sportsbooks can’t ignore online safety.
So, to cater to this security-conscious audience, consider implementing features like 2FA and SSL encryption. Although it may sound so simple, 2FA can actually prevent harm from over 99.9% of targeted attacks. On the other hand, SSL encryption ensures secure internet communications between clients and servers.
Having such security infrastructures on your platform sends the impression that you care about bettors, which can encourage exploration and loyalty.
What is our last word?
It’s actually true that targeting the college sports market can set you ahead, given its expansiveness. In fact, the sports betting world has become super competitive, and targeting diverse markets can really help ensure long-term success.
And a good place to get started would be ensuring your website is responsive to cater to the growing number of mobile users. Another thing platforms like the Hollywood Bet app are doing to guarantee great betting experiences is implementing seamless and instant payments.
And since online security has become a critical concern, adopting more advanced measures can really put you ahead of competitors.
