- Influencer marketing strategies for virtual sports betting businesses
- Published 06/07/2023
- 11 min Read
- Written by Julia Shandrokha
Table of contents
The virtual sports betting industry has surged in popularity over the last decade. As technology advanced and the internet became ubiquitous, it transformed how punters place their bets, shifting from physical bookmakers to online platforms. The rise of virtual sports betting has paralleled these developments, allowing enthusiasts to bet on virtual games from football to horse racing, all from the comfort of their own homes. Today, this market isn’t just a niche corner of the gaming world; it’s a flourishing industry teeming with potential, with billions of dollars flowing through it annually.
This boom hasn’t gone unnoticed. The entry barriers to setting up an online betting platform have reduced, leading to a surge in competition. Businesses in this sector now jostle with hundreds of other similar platforms to attract the attention and engagement of potential punters, making the digital marketplace an intensely competitive space.
This intense competition is where the power of marketing, and more specifically, influencer marketing, comes into play. As the virtual sports betting industry continues to expand, it’s becoming increasingly clear that conventional marketing techniques are no longer enough.
Businesses need innovative strategies to rise above the noise, to reach their target audiences and convert them into loyal customers. Influencer marketing, with its focus on leveraging popular figures who already command the trust and attention of your potential customers, provides an exciting and effective solution to this challenge.
Influencer marketing is transforming how virtual sports betting businesses attract, engage, and retain customers. By combining the trust and reach of popular influencers with strategic marketing initiatives, businesses can tap into ready-made audiences, driving visibility, engagement, and ultimately, revenue.
As we delve deeper into this article, we’ll explore the power of influencer marketing in the virtual sports betting industry and provide insight on how to leverage it effectively to thrive in this rapidly evolving digital landscape. The Famesters influencer marketing agency experts are ready to share their 6+ years of experience in promoting virtual sports betting brands with the help of influencers with you.
WHAT INFLUENCER MARKETING IS; WHY AND HOW IT WORKS
Influencer marketing is a powerful form of marketing that leverages endorsements and product mentions from influencers — individuals who have a dedicated and engaged following on platforms like Instagram, YouTube, TikTok, Twitch, and Twitter. Influencers are viewed as experts within their respective niches, and their opinions hold significant weight with their followers, hence the term “influencer.”
At its core, influencer marketing is about building relationships — between the brand, the influencer, and the influencer’s audience. It revolves around finding influencers whose followers align with the brand’s target demographic, partnering with these influencers, and creating content or campaigns that promote the brand’s products or services in an authentic and engaging way.
In the context of the virtual sports betting industry, influencer marketing can be particularly effective. Sports betting, by its nature, is a community activity. Punters love to share their betting experiences, insights, and tips with others, and many look to experienced bettors for advice and recommendations. This makes the betting community highly receptive to influencer marketing, as influencers in this space are often seen as knowledgeable insiders who offer valuable insights to their followers.
Influencers within the sports betting industry — whether they’re experienced punters, sports analysts, or even former professional athletes — can provide your business with a unique and impactful means of reaching potential customers. They can share their experiences using your platform, offer tips and advice on how to use your services, and even host betting events or challenges to engage their followers and encourage them to try out your platform.
Moreover, influencers have the power to humanize your brand. Through their authentic interactions and relatable content, they can build trust and foster a sense of community around your brand. This can lead to increased brand loyalty, higher customer retention rates, and ultimately, more revenue for your business.
In essence, influencer marketing works in the virtual sports betting industry because it combines the persuasive power of personal recommendation with the wide reach of social media. It allows you to reach a larger and more engaged audience, drive more traffic to your platform, and increase conversions, all while strengthening your brand’s credibility and reputation in the industry.
THE ROLE OF INFLUENCERS IN VIRTUAL SPORTS BETTING
Influencers occupy a unique position within the virtual sports betting ecosystem, bridging the gap between businesses and punters, providing authentic content, and cultivating a sense of community.
Influencers in the virtual sports betting industry are often experienced punters, analysts, or even former athletes with a deep understanding of the industry. Their audience trusts their insights and recommendations, not only because of their knowledge and expertise, but also because they are viewed as fellow punters who have been through the same journey as their followers. This makes them uniquely effective at endorsing betting platforms, as their endorsements are seen as credible and relatable.
In addition to endorsing products, influencers also create and share engaging content around virtual sports betting. This might include tips and strategies, reviews of betting platforms, or even live-streams of themselves participating in virtual sports betting. This content serves to entertain and educate their followers, which in turn drives engagement and boosts the visibility of the platforms they endorse.
Now let’s take a look at a few examples to illustrate the impact of influencers in this industry.
- Live streamers on Twitch and YouTube. Live streaming has become a popular form of content within the gaming and betting communities. Influencers on platforms like Twitch and YouTube often live stream themselves placing bets on virtual sports games, offering commentary and sharing their betting strategies along the way. This not only entertains their viewers but also offers valuable insights into how to use various betting platforms and what to expect from them.
- Sports analysts on social media. Many sports analysts have significant followings on social media platforms, where they share their insights and predictions about real and virtual sports events. When these influencers endorse a virtual sports betting platform, their followers take notice, often leading to increased traffic and sign-ups for the endorsed platform.
- Affiliate marketers. In the virtual sports betting industry, many influencers participate in affiliate marketing programs, where they earn commissions for referring new users to betting platforms. This provides an incentive for influencers to promote the platforms they’re affiliated with, and because these recommendations come from a trusted source, they often lead to high conversion rates.
These examples highlight the powerful role influencers play within the virtual sports betting ecosystem. By leveraging their credibility and reach, virtual sports betting businesses can utilize influencers to drive traffic, engage users, and boost conversions, thereby maximizing their marketing efforts.
Also, there are numerous influencers who create content that is not directly related to betting, but they still have the audiences that can be interested in it. These creators help you attract the users that may be completely new to virtual sports betting, the ones that are open to fresh experiences and are eager to try new ways to entertain themselves and get some money.
FINDING THE RIGHT INFLUENCERS FOR YOUR BUSINESS
Choosing the right influencers for your virtual sports betting business is pivotal. It not only amplifies your brand reach but also builds trust and credibility amongst potential customers. Here’s how you can find suitable influencers on platforms like YouTube, TikTok, Twitch, and Instagram.
- Identify your audience. The first step in finding the right influencers is to understand your own audience. What are their interests? Which social media platforms do they use? Which influencers do they already follow? By understanding your audience’s demographics and preferences, you can find influencers who are likely to resonate with them.
- Search for relevant influencers. Once you have a clear understanding of your audience, begin searching for influencers who align with their interests and preferences. Each platform has its own search functions and tools to help businesses find relevant influencers. For example, you can use YouTube’s search bar to find influencers in the virtual sports betting industry, or Instagram’s “Explore” feature to discover influencers based on your audience’s interests. Or you can use influencer marketing platforms like BuzzGuru that allow to weed out irrelevant influencers at once using filters:
Evaluate their engagement rates. While an influencer’s follower count is important, the quality of their engagement can be even more telling. High engagement rates (likes, comments, shares) indicate that an influencer has a strong connection with their audience, which can translate into higher conversion rates for your business. Tools like BuzzGuru can help analyze an influencer’s engagement rate.
- Assess content quality and authenticity. Review the influencers’ content to ensure that it is of high quality and aligns with your brand values. Influencers who produce authentic, relatable content tend to build more trust with their audience, and their endorsements will thus be more effective.
- Check for values alignment. Lastly, ensure that your potential influencers share the same values as your business. This alignment will lead to a more genuine partnership and make their endorsements more credible to their audience. It also reduces the risk of reputational damage due to association with influencers who may not uphold your brand’s standards or values.
Finding the right influencers can be a game-changer for your virtual sports betting business. Influencers who genuinely connect with their audience, share the same values as your business, and can provide valuable and engaging content will be your strongest allies in capturing your audience’s attention and converting them into loyal customers.
IMPLEMENTING INFLUENCER MARKETING STRATEGIES
Once you’ve identified the right influencers for your virtual sports betting business, it’s time to implement your influencer marketing strategy. This involves approaching influencers, negotiating promotional agreements, and setting clear expectations and deliverables for the influencer partnership.
- Reaching out to influencers. The initial contact with influencers is critical. Ensure your outreach message is professional and personalized. Explain why you believe there’s a potential fit between their brand and yours. You could reach out via email, direct messages on their social media platforms, or through influencer marketing platforms that facilitate connections between brands and influencers. You can also delegate the task to influencer marketing managers that already know how to approach influencers, or even have a base of reliable ones, like at Famesters.
- Negotiating promotional agreements. The negotiation phase is where you’ll define the terms of your partnership. This includes the type of content the influencer will produce, the number of posts, the timeline, and the compensation. Be clear about your budget and what you’re willing to offer, whether it’s monetary compensation, free products, or other benefits.
- Setting clear expectations. To ensure a successful partnership, it’s crucial to outline your expectations clearly. This could include specifics about your brand messaging, the use of certain keywords, hashtags, or links, or the disclosure of the sponsored nature of the content. Providing the influencers with a creative brief can help guide them in creating content that aligns with your brand and campaign goals.
- Defining deliverables. Clear deliverables make it easier to measure the success of the campaign later on. These might include a certain number of posts, mentions, or a specific type of content like videos, photos, or blog posts. The deliverables should be agreed upon upfront and included in your contract or agreement with the influencer.
- Monitoring and evaluating the partnership. Once the campaign is live, keep track of the engagement and performance metrics. Use these insights to evaluate the effectiveness of the partnership and make any necessary adjustments. Regular check-ins with the influencer can also help maintain a positive relationship and ensure the campaign is progressing as planned. The Famesters agency keeps you informed at all stages of the campaign and provides detailed reports.
Implementing a successful influencer marketing strategy requires clear communication, well-defined expectations, and continuous monitoring and evaluation. When executed effectively, it can significantly enhance the reach and visibility of your virtual sports betting business, driving more traffic and conversions.
MEASURING THE SUCCESS OF INFLUENCER MARKETING
To evaluate the effectiveness of your influencer marketing strategies, it’s essential to have a clear understanding of how to track and measure their performance. Without this, you will have no way of knowing whether your strategies are yielding the desired results or need adjusting.
- Setting up tracking. Prior to launching your influencer marketing campaign, establish tracking mechanisms. This could involve creating unique tracking links or promo codes for each influencer, which will allow you to track the traffic and conversions that they generate directly.
- Key metrics to consider. The specific metrics you’ll want to track will depend on your campaign goals, but some common ones include:
- Engagement rate. This measures the level of interaction (likes, comments, shares) that the influencer’s content receives. It can give you an insight into how much the content resonates with the audience.
- Conversion rate. This measures the percentage of users who take the desired action (like signing up or making a purchase) after interacting with the influencer’s content. It’s a key indicator of the effectiveness of your campaign in driving sales or other conversions.
- Reach and impressions. Reach refers to the total number of unique users who have seen the influencer’s content, while impressions measure the total number of times the content was displayed. These metrics can help gauge the visibility of your campaign.
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- Return on investment (ROI). This measures the financial return from your investment in influencer marketing. To calculate ROI, subtract the cost of the campaign from the revenue it generated, then divide by the cost of the campaign and multiply by 100 to get a percentage.
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- Analysis and optimization. After gathering data, analyze the performance of your influencer marketing strategies. Look for trends and patterns that can inform your future strategies. Was one influencer particularly effective at driving conversions? Did certain types of content receive higher engagement? Use these insights to refine your influencer marketing strategies moving forward.
COMPLEMENTING INFLUENCER MARKETING WITH OTHER STRATEGIES
While influencer marketing strategies for virtual sports betting businesses can be powerful tools for driving awareness and conversions, they are most effective when they are a part of a larger, multi-channel marketing strategy. Here, we explore some other marketing strategies that can complement your influencer marketing efforts.
Online marketing strategies
The digital sphere offers a multitude of channels and techniques that can enhance your influencer marketing.
- Search engine optimization (SEO). This involves optimizing your website and content to rank higher in search engine results, increasing your visibility to potential customers. Influencer-generated content can be a valuable resource for SEO, as it may generate backlinks to your site and improve your site’s authority.
- Social media marketing. This involves using social media platforms to connect with your audience, build your brand, increase sales, and drive website traffic. You can leverage influencer-created content on your own social media channels to further engage your audience.
- Email marketing. This is a powerful tool for nurturing leads and converting them into customers. Sharing influencer content in your email newsletters can be a great way to build credibility and engage your subscribers.
- Programmatic advertising. This form of marketing uses AI to automate the buying and selling of online ads, which can significantly increase your ad’s efficiency and effectiveness.
Offline marketing strategies
Traditional marketing methods still hold value in today’s digital world and can supplement your influencer marketing efforts.
- Print advertising. This can include anything from flyers to billboards. You could, for example, use quotes or testimonials from influencers in your print ads to enhance their credibility.
- Broadcast media. Advertising on TV or radio can be used to broaden your reach. Influencer content or endorsements could be incorporated into these adverts to maximize their impact.
- Events and sponsorships. These can be powerful ways to increase brand awareness and engage potential customers directly. Influencers can be invited to these events to boost their appeal or can promote these events to their followers.
The key to a successful multi-channel marketing strategy is integration. Each channel should support and reinforce the others, creating a seamless and consistent brand experience for the customer. By integrating influencer marketing into your broader strategy, you can amplify its effects and drive more meaningful results for your virtual sports betting business.
FUTURE OF INFLUENCER MARKETING IN VIRTUAL SPORTS BETTING
As we look ahead, it’s evident that influencer marketing in the virtual sports betting industry is poised for significant evolution. With shifts in technology, consumer behavior, and regulatory frameworks, the role of influencers is set to become even more critical.
- Advancements in technology. The digital landscape is continually changing, and with it, so does the way we interact with content and advertisements. Emerging technologies like augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) will provide new avenues for influencers to engage their audiences. Influencers could leverage these technologies to create immersive experiences, leading to more authentic and impactful brand endorsements.
- Changes in consumer behavior. As audiences become more skeptical of traditional advertising, they will increasingly turn to trusted figures – influencers – for recommendations and reviews. Additionally, as betting becomes more interactive with features like live betting, influencers could play a crucial role in guiding their followers through these real-time betting experiences.
- Regulatory frameworks. Given the monetary aspects involved in sports betting, the industry is subject to strict regulations that vary by region. As these regulations evolve, influencers will need to adapt their content and promotional methods accordingly. This might include more transparent disclosure of partnerships and adherence to guidelines around responsible betting promotions.
- Rise of micro- and nano-influencers. As businesses recognize the value of high engagement over high follower count, there will be a growing trend towards partnering with micro and nano influencers. These influencers, while having fewer followers, tend to have a more engaged and loyal audience. In the virtual sports betting industry, this could mean partnering with influencers who have a niche following of dedicated punters.
- Increased focus on measuring ROI. As businesses invest more in influencer marketing, they will require more concrete ways to measure the success of their campaigns. This could lead to the development of more sophisticated metrics and analytics tools, enabling businesses to better assess the return on their influencer marketing investments.
The future of influencer marketing in virtual sports betting is dynamic and full of opportunities. It’s an exciting time for you to leverage influencer marketing strategies for the virtual sports betting business.
IN CONCLUSION
Influencer marketing has firmly established itself as a powerful tool within the marketing strategy of any modern virtual sports betting business. Its rise to prominence in such a competitive landscape is indicative of its effectiveness and ability to reach and engage audiences in a unique and authentic way.
Alongside identifying suitable influencers, understanding how to implement and assess the success of these marketing campaigns is key. Considering other complementary strategies, such as SEO and social media, can further enhance these efforts.
Keeping a close watch on future trends and changes in influencer marketing will help businesses adapt and thrive. The Famesters influencer marketing agency is here to help you with this: contact us to plan and start your next successful campaign with influencers!
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