At iGP, we have a full plan in place for our clients when they are building up to the launch of their product in any particular market. We can empower iGaming operators to push boundaries with unparalleled flexibility, innovation and speed, enabling them to launch their online businesses quickly and efficiently, while matching them up with the partners that are right for them.
Here, we outline in five steps how we would advise our partners all the way through their journey of growth.
1. Strategically define and refine your objectives
Before operators begin the search for a new iGaming partner, it is vital they have first defined their vision and goals. Once your core objectives are identified, it then becomes easier to nail down specific goals, such as geographic focus, customer acquisition targets and revenue projections.
The next stage is to establish quantifiable success metrics, which will measure the effectiveness of any potential partnership. This could include KPIs like customer retention rates, market share growth and profitability.
Essential qualifications for potential partners should be identified, such as their experience in the sports betting and/or iGaming industries. Your prospective partner should have cutting-edge technology that can support a seamless user experience and robust backend operations.
Another strategic plan to put in place is regarding market reach. Detailed research should be conducted on potential partners that already have a presence in your target markets, and you should judge whether they have the ability to help you expand your geographical footprint.
iGP works with partners on refining this stage to ensure there is a shared vision. Both sides must align on business strategy and strategic goals in both the short and long-term.
2. Market exploration and selection
Industry networks must be leveraged to make sure potential partners are identified and that you are in the best possible position to build your operation ahead of the launch. Utilise any connections you have in the market, and you should do your best to attend industry conferences, seminars and networking events.
Online resources, including industry publications, forums and social media platforms like LinkedIn, should be used to discover and evaluate potential partners.
Competitive analyses should be carried out, where the aim would be to ascertain which service providers your competitors are using. You can then assess the benefits that stem from such partnerships, and what exactly you can learn from these partnerships when setting up your own.
With regards to the selection process, you should send out requests for information (RFI) to gather preliminary details about potential partners. The next step is to follow up with detailed requests for proposals (RFP) to shortlisted candidates, ensuring they understand your strategic objectives.
Strategic pitch meetings will be organised, where candidates can present their strategic plans, allowing you to assess their vision, capabilities and cultural fit. Thorough reference checks with those companies’ existing clients should then be carried out to validate their performance, reliability and strategic impact.
The iGP team have the necessary experience and contacts to make sure you will have plenty of choice available, and we have through processes in place to help you settle on the right partnerships for you.
3. Develop a strategic partnership
One of our ideals is that teamwork is essential to success. We encourage open communication, collaboration, and knowledge sharing. With this in mind, we advise you work with the chosen partner to develop a detailed strategic plan. This should include shared goals, key performance indicators (KPIs), and a roadmap for achieving your objectives.
The roles and responsibilities of each party should be outlined to ensure accountability and smooth collaboration. When you reach the process of operational integration, you should plan for how the partner’s services will integrate with your existing operations. This includes the alignment of technology systems, processes and teams.
Aside from the technical aspects, it is also important to foster a culture of collaboration and mutual respect between both parties. Both teams need to understand each other’s working styles and values, so that they can work together seamlessly.
After partnerships are agreed, a clear plan for success must be defined, and this is something iGP can assist with from the outset.
4. Comprehensive launch plan
The launch can take place when agreements are finalised. The partnership will be solidified with a detailed contract outlining deliverables, timelines, performance metrics, and governance structures. This will ensure both parties are clear on expectations and responsibilities. Service level agreements (SLAs) will also be established to ensure high standards of service delivery and accountability.
The full launch will often be preceded by testing and validation. If applicable, you can initiate a pilot project to test the partnership’s effectiveness, validate assumptions, and make necessary adjustments before the full-scale launch.
The launch will be accompanied by a marketing strategy which will create a buzz and attract customers. Multiple channels should be utilised, including digital marketing, PR and partnerships.
All operational aspects must be ready in time for the launch, including customer support, payment systems and compliance processes. Customer engagement strategies will be planned so that together, you can build a loyal customer base from the outset. Systems must be implemented to continuously monitor performance metrics and customer feedback.
Our advice would then be that the client should be prepared to make quick adjustments based on performance data and market feedback, making sure they can optimise the partnership’s success. All aspects around a launch must be considered, and every single base can be covered by iGP.
5. Long-term growth planning
Following the launch, regular strategic reviews should be established to ensure the partnership remains aligned with evolving business goals and market dynamics. You should continuously look for ways to innovate and adapt to changing market conditions and customer needs.
After launch in one market, the plans for growth do not have to stop there. The aims can then expand to exploring new markets and extending your geographical reach.
The product itself can also still be developed. Both sides can collaborate on developing new products or services that can enhance the customer experience and drive growth. Following this, scalability plans can be put in place, with the aim to scale efficiently as demand grows. This will ensure the partnership can handle increased volumes without compromising quality.
We will not leave you to our own devices following a launch, and our team can use their experience of long-term success to make sure you can build sustainably.
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