Running an online casino or a sportsbook requires much more than just offering games and access to betting lines to your players. Like any other business with customers, iGaming operators need to have tools that allow them to attract, retain, and manage their players. This article will explore the different features that PAM software includes to help online casinos and sportsbooks succeed in the marketplace.
What is PAM software?
To start, PAM software stands for Player Account Management software. Other industries often use the term CRM, which stands for customer relationship management. By extension, a CRM platform is a type of software that helps businesses manage their relationships with their customers. PAM software allows online casinos and sportsbooks to better manage the relationship with their players.
PAM software and CRM platforms organize customer data and connect the relevant information of leads, prospects, and customers with different departments in an organization such as marketing, customer service/customer success, sales, and management. Salesforce, one of the biggest providers of CRM software in the world, insists that CRM software is key to the success of any business in any industry.
Why is PAM software important for iGaming operators?
As mentioned above, PAM software helps companies manage and organize their data all in one place. With a PAM system, the different functions and departments of online casinos have access to the same data, and don’t need to rely on different sources of customer data. This allows teams to collaborate, coordinate, and streamline processes within an organization all in real-time.
Beyond the internal benefits of better organization and consistent data, PAM software also gives your leads, prospects, and players a better experience with your company. Here are a few reasons why player account management software can play an important role in your player journey and experience.
Better player segmentation
iGaming operators know that there are different types of players that visit their websites. Some players may prefer playing different table games like blackjack, baccarat, or roulette. Other players might prefer playing slot and arcade style games. Other players might only be interested in betting on sports. And among those players who only bet on sports, some may only like betting on certain leagues such as the NBA, NFL, or on certain sports like tennis or soccer. Once you start to get more granular with your data, the differences between players become apparent. It’s important to segment your players as much as possible to be able to deliver highly personalized marketing communications to them. For example, with a PAM system it is possible to create bonuses for specific segments of players. You can offer players who have only played casino games a special credit to lay a bet down on a sporting event. Or, you can offer players who only bet on basketball games a special credit to bet on the World Cup. Player segmentation is critical to cross-sell and retention initiatives once you start to realize the power of it.
Better communication with your players
When data lives in different systems, or it isn’t up-to-date, it’s hard to know what to say to your players and when to say it. Player account management software gives you real-time access to your player data and allows you to personalize your communications with those players. If a player submits an inquiry or complaint, all of that player’s information is available within your PAM software. You can see what games they have played, when they’ve deposited, or how often they bet when you have interactions with them through chat, email, or phone. It gives iGaming operators all the data they need to have an informed conversation and steer the discussion in the right direction. The last thing that an operator needs when talking to a player is for them to say, “How do you not have this information about my betting activity?” By equipping yourself with all the relevant data, you can have strong conversations with your players.
Data-informed decision making
Robust player account management software gives you everything you need to know to make decisions about your online casino or sportsbook operation. At a high-level, it allows you to see data like total players, new player registrations for a given time period, total deposits, deposits for a given time period, pending withdrawals, casino or sportsbook profits, affiliate traffic, your most profitable casino games, how often players are logging in, and much, much more. All of this data can be used to guide your marketing, customer service, and capital deployment efforts. With all your data in one place, PAM software serves as the central hub of your iGaming operation’s activity.
Lion Gaming’s PAM software
At Lion Gaming, our white label casino and sportsbook solutions are complete with robust player account management software that includes all the features and benefits that have been mentioned in this article. We believe that our PAM software is among the best in the industry. If you want to start an online casino or sportsbook, or are evaluating other platform providers that have better player account management abilities, contact us today or request a demo below and we’ll show you how our PAM software can turn your iGaming operation into a success.