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This essay explores why GRP is outdated and advocates for a targeted 360° approach to increase brand awareness and customer acquisition.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.
It's Time for a Change
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.
Gross Rating Point
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.
Disadvantages of the outdated GRP approach
- One-dimensional Measurement of Reach
- Lack of Granularity
- Not Suitable for Digital Platforms
- No Insight into ROI
The Need for a Targeted 360° Approach
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.
Core Components of a Targeted 360° Approach:
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 as a Key Factor of a Targeted 360° Media Plan
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
- Improving Brand Perception
- Direct Customer Engagement
- Long-term Relationships
Benefits of a Targeted 360° Approach
Embracing a targeted 360° approach offers numerous advantages that can significantly elevate an iGaming company's marketing strategy and overall performance:
- Greater Customer Satisfaction
- Higher Marketing Efficiency
- Stronger Competitive Position
- Strengthened Audience Connection
- Maximisation of Sponsorships
Case Study: Targeted 360° Approach VS. Traditional (GRP) Buying
- Challenge
- Targeted 360° Approach:
- Results:
- Conclusion:
Conclusion
Benefits of the Targeted 360° Approach Over Traditional GRP:
- Comprehensive Strategy
- Advanced Data Analytics
- Enhanced Engagement
- Improved Results
- Stronger Customer Relationships
- Marketing Efficiency
- Sustainable Growth
A targeted 360° approach is crucial for iGaming companies to excel in a competitive market, providing a more effective strategy than traditional GRP metrics.
