Don't take on DraftKings. And don't even think you can out-scale Playtech anymore; just abandon that idea now. The issue with many smaller operators competing is that they assume competition is based solely on features and budget, compared to larger operators. Wrong approach. Here's what you need to do if you want your company to be successful.
The Positioning Problem
Most of the time, when a smaller B2B iGaming branding strategy is created, they fall short in execution because they only try to position itself as "the same as the large guys, but cheaper," which is very passive marketing for your competitors. It puts you in direct competition with larger operators, which aren't usually fair because they will always have superior resources and capabilities than a smaller operator would ever have. A successful promotion cannot be based on just being better at everything because that may mean being better at something individuals actually will use; it can be done by serving customers based on a specific operator's need.
Don't Compete on Size — Compete on Specificity
Large iGaming platforms are designed to serve all different types of customers; thus, no one is served specifically by any of the major iGaming platforms (a casino software providers, such as Playtech, must build their platform so its functionality supports their land-based and internet gaming functions in many markets, both regulated and unregulated. They also have the ability to meet all of the functional requirements for both high-volume and low-volume sports-related betting operators. There is no way for any iGaming vendor to be able to optimise their offerings to meet the full complement of operators.
You are able to possess a much narrower piece of the puzzle:
Specifically designed for Latin American operators
Specifically developed for Crypto Native Operators
Specifically designed for "underdog" affiliates trying to grow rapidly
Specifically developed for operators working in highly regulated markets
When you identify the specific Operators that you want to work with, you will stop competing with all of the rest and begin winning only with the people you identified.
Build Authority in Your Niche
Once you have chosen your niche, dominate your niche. A Sportsbook Platform Providers that focuses on emerging markets should be the recognised authority on Compliance in Emerging Markets. A Casino Software providers that focuses on "Mobile First" should rank highly for all mobile casino keywords. A Growth Strategy Consultant who focuses on iGaming business growth strategy. Affiliate Operators should be the first resource for affiliates.
The Execution
Select your niche and become a recognised authority in that niche.
You write about your niche obsessively (SEO, LinkedIn, Content)
You have public speaking events within your niche
You successfully built a community in that niche
You provide a best-in-class product in that niche, not best overall
By selecting your niche and being recognised as an authority in your niche, smaller operators will choose you over larger competitors because you speak their language and understand what is unique to their pain points. You are not "process" – you are the ONLY choice for what they need!
Conclusion
Do not attempt to compete against larger companies on their terms. Create your own game so that larger companies will need to come to you to play. Dominate your chosen niche so completely that companies that operate in that niche will pick you based on your expertise instead of price. This is how smaller companies scale with an iGaming business growth strategy.
FAQs
1. What is the 95 5 rule for B2B?
Currently, 95% of potential customers are not interested in purchasing from you. Concentrate on that 5% of the market that is ready to buy right now. In iGaming, it means you should dominate your niche by targeting the operators who are actively attempting to find solutions in your niche, versus pursuing the 95% of operators who are not looking for anything now.
2. What is the 3 3 3 rule in marketing?
For awareness efforts, you will spend 33% of your budget. For nurturing efforts, you will also spend 33% of your budget. For conversion efforts, you will spend 33% of your budget. When positioning your niche, you need to reverse these categories and percentages. You should allocate 50% of your budget to build authority within your niche through content, events, and thought leadership. You should allocate 30% to conversion and 20% to general awareness.
3. What are the 4 C's of brand positioning?
In B2B iGaming, you will be able to create all four of these criteria more easily if you position your product or service in a niche. Clarity, Consistency, Credibility, and Connections.