After EdTech and OTT, the one sector that hugely benefited in the pandemic-stricken year of 2020, was Gaming. More precisely, Real Money Games (RMG). The expected YOY growth in market size for RMGs is said to 50-55%. A major portion of this can be accredited to user retention.
Did you know the weekly duration of gameplay for those aged between 26 to 35 years is 7.5 HOURS?
A report stated that India’s games market is generating between Rs 7,500 to Rs 10,000 crores in revenues. More than half of this revenue comes from card-based games, and another quarter coming from fantasy games.
Real Money Games (RMG) is a very different consumer business. The user’s lifecycle doesn’t start when they register, unlike other common B2C apps, but after their first deposit.
Some players make their first deposit as soon as they register. For others, making their first deposit might take weeks or sometimes even months, if not intelligently nurtured.
What new questions emerge with a growing gaming fraternity?
- How to encourage gamers to continue making deposits?
- What should be the balance between player wins and losses?
- How to identify the most valuable depositors and keep them happy?
- How to increase customer lifetime value and fight churn?
The player journey for RMGs really only starts after making the deposit, and thus, these questions help you understand what makes your audience tick.
After scouring through our RMG clients, we found that on average 60% of casual players who convert (i.e make a first deposit), do so within the first two days from registration. After two days, there is a sharp drop-off in the number of casual players who make a deposit.
And this all boils down to just one thing – Better Retention!
Let’s look at what goes into creating “better retention” strategies for Real Money Games and how you can go about practicing it.