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This essay explores why GRP is outdated and advocates for a targeted 360° approach to increase brand awareness and customer acquisition. This modern strategy integrates all touchpoints and channels, providing a comprehensive view of the customer journey. By leveraging advanced data analytics, real-time responsiveness, a focus on customer engagement and trust, a targeted 360° approach aligns with contemporary marketing needs. Through a detailed examination of this approach and a case study comparing an iGaming company’s multichannel strategy with a traditional GRP buying focus, we will demonstrate how a holistic and targeted 360° marketing strategy can drive significant growth and market leadership in the iGaming industry.
The iGaming industry has seen remarkable growth over the past few decades, driven by technological advancements, regulatory changes, and the rise of online platforms. Companies have capitalised on these trends to expand their reach. However, this expansion has intensified competition, requiring more sophisticated marketing strategies.
Traditionally, the Gross Rating Point (GRP) metric has been a cornerstone of advertising measurement, especially in the television and radio eras. GRP quantifies the reach and frequency of an advertising campaign, offering a straightforward way to gauge potential exposure. While once effective, GRP is increasingly insufficient in today's complex marketing landscape, where consumers interact with brands across multiple channels and platforms.
Relying solely on GRP can lead to a fragmented understanding of campaign performance. The metric fails to account for the quality of interactions, customer engagement, and the nuanced ways audiences connect with brands. As a result, companies that solely depend on GRP risk missing deeper insights and more meaningful connections with their target audience.
The Gross Rating Point is a traditional metric in the advertising world that quantifies the total reach of an advertising campaign. It is calculated by multiplying the number of impressions by the frequency. While GRP was useful in the era of television and radio advertising, it falls short in today's multichannel marketing environment. It is an easy way for media agencies to generate revenue and a convenient, though less strategic, way for operators to allocate their budgets. Although this approach delivers some results, a more targeted 360° marketing strategy will lead to significantly better outcomes.
- One-dimensional Measurement of Reach: GRP only measures the number of impressions and the frequency of ads without considering the quality of interactions or the engagement of the audience.
- Lack of Granularity: GRP provides no insight into the demographic or behavioural characteristics of the audience, which is essential for targeted marketing.
- Not Suitable for Digital Platforms: GRP lacks the ability to measure the complexity and dynamic nature of digital interactions, such as social media engagement and website user behaviour.
- No Insight into ROI: GRP does not provide direct information about Return on Investment (ROI), which is crucial for determining the effectiveness of marketing expenditures.
A targeted 360° strategy for customer acquisition leverages every available touchpoint and channel to gain a complete understanding of the customer journey. This method offers a thorough and nuanced perspective on how customers are engaged at each stage, from initial contact to conversion. Below, we delve into the essential elements of a targeted 360° approach and how they contribute to a successful marketing strategy.
Multichannel Integration: In a targeted 360° approach, all marketing channels are integrated, including:
- Traditional Media: Television, radio, print advertisements.
- Digital Media: Search engines, social media, display advertising.
- Owned Channels: Website, mobile apps, email marketing.
- Physical Channels: Betting shops, sports events.
By combining these channels, iGaming companies can provide a coherent and consistent brand experience, regardless of where customers interact with the brand.
Advanced Data Analysis: A targeted 360° approach utilises advanced analytical tools to gain deep insights, including:
- Customer Profiling and Segmentation: Creating detailed customer profiles based on demographic data, behavioural data, and purchase history.
- Behavioural Analysis: Analysing how customers interact with different marketing channels and their interaction patterns.
- Predictive Analytics: Using predictive models to anticipate future customer behaviours and trends.
These analyses help iGaming companies develop targeted and personalised marketing campaigns that resonate better with specific customer segments.
Real-time Data and Responsiveness : A key advantage of a targeted 360° approach is the use of real-time data, enabling:
- Immediate Adjustments: Adjusting marketing campaigns on the fly based on real-time performance data.
- Customer Interactions: Monitoring customer interactions in real-time to quickly respond to changing preferences and needs.
- Continuous Optimisation: Continuously optimising campaigns to maximise effectiveness and ROI.
ROI Measurement Systems: A targeted 360° approach includes comprehensive systems for evaluating the ROI of marketing activities:
- Conversion Tracking: Measuring the effectiveness of marketing campaigns by looking at actual conversions, such as registrations, FTDs, depositors.
- Customer Value and Retention: Analysing the lifetime value of customers and their retention rates to assess the long-term impact of marketing efforts.
- Cost-Benefit Analysis: Comparing the costs of marketing campaigns with the generated revenues to identify the most profitable strategies.
Better ROI comes from more effective budget allocation, ensuring resources are invested in strategies that yield the highest returns by targeting the right audience.
Enhanced Customer Engagement: A holistic approach ensures that customers are engaged in multiple ways, fostering a deeper audience connection, which can include:
- Personalised Offers and Rewards: Tailoring offers and rewards based on customer preferences and behaviour. For example, special bonuses for loyal players or exclusive access to new games.
- Interaction and Community-building: Encouraging interaction and building a community around the brand through social media and sports events. Active engagement fosters a sense of belonging and loyalty.
- Content Marketing: Creating and distributing valuable content that informs, entertains, and engages customers. This can include podcasts, videos, and other forms of content that are relevant and appealing to the target audience.
Sponsorships play a crucial role in a targeted 360° marketing approach, especially for iGaming companies. They provide numerous benefits that enhance overall marketing strategy and foster deeper customer connections.
- Increasing Brand Awareness: Sponsorships of sporting events, teams, or athletes significantly boost brand visibility. By associating with popular sports events, iGaming companies can reach a broader and more diverse audience. These events attract millions of viewers, ensuring extensive and prolonged exposure.
- Improving Brand Perception: Sponsorships help build a positive brand perception. Involvement in beloved sports events and teams strengthens an iGaming company's image and builds trust with potential customers. Aligning with respected sports entities enhances the company's reputation and showcases its commitment to supporting community and sportsmanship.
- Direct Customer Engagement: Sponsorships offer direct interaction opportunities with fans and customers through promotional activities at events and exclusive offers for fans, among other engaging methods. These engagements foster deeper emotional connections, encouraging longterm loyalty and increased customer retention.
- Long-term Relationships: Sponsorships contribute to building long-term customer relationships through consistent brand messaging and presence at key events. Regular support of popular sports events or teams maintains brand recognition and loyalty, solidifying the brand's market position and demonstrating a sustained commitment to customer interests.
Embracing a targeted 360° approach offers numerous advantages that can significantly elevate an iGaming company's marketing strategy and overall performance:
- Greater Customer Satisfaction: Providing a consistent and personalised experience across all touchpoints can greatly enhance customer satisfaction and foster long-term loyalty. By understanding customer preferences and behaviours through data-driven insights, companies can tailor their offerings and communications to meet individual needs effectively.
- Higher Marketing Efficiency: Utilising data-driven insights enables iGaming companies to optimise their marketing efforts. By targeting the right audience with the right message at the right time, companies can improve campaign effectiveness and maximise return on investment. This approach ensures budget efficiency through careful budget optimisation, making sure that marketing resources are used effectively and strategically.
- Stronger Competitive Position: In a fiercely competitive market, adopting a targeted 360° approach allows iGaming companies to differentiate themselves effectively. By offering a seamless and integrated customer experience, companies can stand out from competitors, increase brand awareness, and enhance brand consideration. This approach helps attract and retain customers more effectively. Moreover, the ability to quickly adapt to market changes and consumer trends ensures sustained relevance and competitiveness.
- Strengthened Audience Connection: Deepening engagement and personalising interactions with customers build a stronger emotional connection between the customer and the brand. This emotional bond fosters trust and loyalty, encouraging customers to choose the brand consistently over competitors.
- Maximisation of Sponsorships: Effectively leveraging sponsorships is a key advantage of the targeted 360° approach. By strategically partnering with sports events, teams, or athletes, iGaming companies can enhance brand awareness, improve brand perception, and amplify marketing efforts. Sponsorships provide valuable opportunities for direct customer engagement and community involvement, further solidifying the company's position in the market.
- Challenge: An iGaming company faced the task of increasing brand awareness, market share, and turnover in a competitive sports betting market.
- Traditional (GRP) Buying: This strategy emphasizes GRP (Gross Rating Points) purchases, with a primary goal of maximizing ad impressions. While this approach can increase reach, it often leads to poor ROI due to high budget expenditures. Additionally, it lacks the ability to foster engagement and build deeper connections with the audience. The stagnant market share further indicates that this method may not be enough to drive substantial growth.
- Targeted 360° Approach: This strategy transitioned from relying solely on GRP purchases to adopting a multi-channel approach that integrates sponsorships and various media outlets to activate deals. This shift aimed to boost brand awareness (Top-of-Mind) by leveraging diverse touchpoints, resulting in higher consideration, improved conversion rates, and stronger acquisition efforts. The focus centered on fostering trust and transparency through a more natural and targeted approach, allowing the quality of sports content to take center stage.
- Results: The iGaming company achieved a 75% increase in registrations, 85% increase in turnover, and a 65% increase in Top-of-Mind awareness in just 3 years. This exceptional growth demonstrates the effectiveness of a targeted 360° marketing approach vs. an outdated traditional GRP buying plan.
- Conclusion: This case study highlights the potential of moving away from traditional GRP-focused strategies. By implementing a multi-channel strategy and targeted 360° marketing approach, that builds trust and brand identity, the iGaming company achieved significant growth and became the #1 Top-of- Mind brand in many countries.
Benefits of the Targeted 360° Approach Over Traditional GRP:
- Comprehensive Strategy: Integrates multiple channels (traditional, digital, owned, physical) for a holistic view of customer interactions.
- Advanced Data Analytics: Utilises real-time responsiveness and detailed analytics for better decision-making.
- Enhanced Engagement: Focuses on personalised offers, content marketing, and community-building to deepen customer connections.
- Improved Results: Case studies show significant increases in registrations, turnover, and top-of-mind awareness.
- Stronger Customer Relationships: Builds trust and fosters long-term loyalty through strategic sponsorships and personalised engagement.
- Marketing Efficiency: Optimises budget allocation and improves overall marketing effectiveness.
- Sustainable Growth: Drives sustained success and helps companies secure market leadership.
