How to Increase Retention, Improve Customer Lifetime Value and Drive Efficiencies from CRM Budget.
By leveraging VAIX’s Player Marketing AI, theScore Bet mobile sportsbook was able to identify users at risk of churning. Identifying this cohort enabled the timely targeting of specific campaigns to retain at-risk users while also reactivating users who had already churned.
theScore empowers millions of sports fans through its digital media and sports betting products. Its media app, ‘theScore’, is one of the most popular in North America, delivering fans highly personalized live scores, news, stats, and betting information from their favourite teams, leagues, and players.
The company’s sports betting app ‘theScore Bet’ delivers an immersive and holistic mobile sports betting experience and is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa. Publicly traded on the Toronto Stock Exchange and the Nasdaq Global Select Market, theScore also creates and distributes innovative digital content through its web, social and esports platforms.
Accurate churn prediction and prevention is an increasingly vital consideration within the gaming sector, with operators focused on growing their player base through new player acquisition while simultaneously keeping existing players engaged.
With heavy competition, a decline in brand loyalty, and increased player attrition and churn rates increasingly impacting revenue stability, identifying and preventing churn sits front-and-centre on every igaming marketing team’s radar.
“When our betting business first launched, the lack of first-party data made it challenging to implement predictive processes to improve user retention. By partnering with VAIX, we’re able to leverage third-party data and transfer learning to jump-started these initiatives at theScore Bet.”
The VAIX Solution
VAIX uses deep learning AI to assign a churn score, identifying the probability of a player not being active in the next 7, 14 & 30 days. This is produced for all players who have been active in the last 30 days, with each player being scored a percentage chance of churning. This drives informed decision-making, determining the ideal bonus amount for each specific player and the optimum time to credit them, as well as the ability to run multiple A/B tests to refine results.
Armed with this data, theScore was able to test, refine and optimize their campaigns, targeting users with a 50% or higher predicted churn score. In just 14 days, this led to a 66% improvement in re-engaging at-risk users, allowing resources to be focused to further drive efficiency from the CRM budget.