How You Can Use the Online Bingo Industry to Inform Your Own Business Model
If there’s one industry that has undergone an impressive evolution in recent years, it’s bingo. Formerly a game enjoyed only by housewives and OAPs, it was associated with dingy bingo halls and an aged demographic, and held little appeal to those who fell outside of these parameters.
Naturally, this limited its market, and in turn, its earnings. But that all changed when some savvy entrepreneurs came along and revolutionised its image. Changing the way we perceive bingo within mainstream society, these brands managed to make it cooler, more popular, and more profitable than it had ever been before. Here are just a few of the lessons that clever businessmen and women can learn from their example.
Your online brand is important
One of the biggest cultural shifts in the way modern audiences view bingo relates to its transposition onto the internet. A large part of the industry’s initial problem was tied into the stereotype that had built up around it, which involved dank bingo halls with threadbare carpets and aged attendees. This all changed when it went online. Allowing the game to shed its former connotations, it was instantly transformed into a form of entertainment which was marketed at and visible to a much younger audience – an audience it quickly gained.
For those watching from the sidelines, the takeaway is simple: the way you present your product and brand online is fundamental to the sort of audience you will attract. Therefore, knowing who it is you’re targeting with your marketing is vital to your products long-term saleability.
You must always remain competitive
One of the things that’s unique about the bingo industry is how highly saturated it is, especially online. A quick Google search will reveal hundreds of hits, which means providers need to know how to really stand out.
We have selected an online bingo site in the UK as an example. A quick glance at the Betfair’s website instantly reveals that it understands what will appeal most to its audience – in this case, a sense of variety and competitive prices. This is demonstrated in numerous ways, from sharing how little it costs to play (ticket prices begin at just two pence) through to showcasing an extensive list of the many titles that are available to pick from.
Recreate such an approach when designing your own business and website, and you’ll instantly increase your appeal to any potential customers.
Tap into contemporary trends
As part of remaining competitive, bingo providers also recognise the importance of capitalising on contemporary trends. This is demonstrated by the plethora of titles that are available from them, many of which link into popular franchises, such as Deal or No Deal and Grease.
As these hold some pre-existing appeal, they’re essentially tapping into an interest that is already there on the part of the consumer – a tactic that businesses in other industries can easily replicate to achieve the same results i.e. increased profits, an enhanced brand profile, and greater popularity.
Tell us, could you put some of these lessons to work with regards to your own business venture?
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