Opinion: Building brand has never been so important

The impact of PoC is beginning to be felt in the sportsbook sector. While a number of businesses withdrew their UK interests in 2014, some newer operators, undeterred by legislative changes, look set to take their place and make a push for market share this year and beyond.

Differentiators remain critical to success and concepts such as personalisation, product innovation and the omni-channel experience are now ingrained in development pipelines, and rightly so.

Cash-out aside, in my view a true example of innovation, the industry has failed to push product boundaries in recent years. Barring some exceptions, much of the internal focus has justifiably centred on keeping pace in the digital era.

In 2015, the very least a customer should expect is to be able to interact seamlessly with a business across any technological touch point of their choosing. Similarly, products and services are nigh on identical, so how else should a business seek to draw distinctions and outflank competition? A brand, particularly its identity, is one vital and often overlooked area.

Big advantage?

Listed companies with deep pockets so often refer to their brands as being strong. While that’s true, it goes further than having a deep-rooted presence in society. Research has shown a consumer needs to be exposed to a brand many times before a transaction is carried out. On a subliminal level, that does play into the hands of big organisations with their greater reach and larger marketing budgets.

However, while your brand may not be the biggest, and while it may not excel at everything, you still have a good chance of gaining market share so long as your audience can relate to your brand and have a good idea of what it stands for.

In different sectors there are far clearer distinctions between brands. Supermarkets and airlines are two good examples. We immediately have a perception of a company in those sectors, usually associated with quality and affordability. The difference in branding between, for example, British Airways and Ryanair is palpable. However, there aren’t many similar examples available in sports betting.

Brands can decay, go stale and seldom remain in the top spot. The recent derailing of the Tesco juggernaut, and the meteoric rise of taxi firm Uber would’ve been inconceivable to most, proving there are always opportunities even in seemingly sewn-up sectors.

It’s of course true that businesses evolve and flourish through a customers’ experience, perception and expectations, but you can’t hang your hat on that alone. And with third-party reliance in the ascendency in online gaming, brand-building has to be at the fore of strategic direction.

Getting it right

Two phenomenal sports betting success stories, bet365 and Paddy Power, have not only excelled on brand proposition and services, they have also excelled on brand. Paddy Power has brought fun, a persona and a personality to their brand, while Bet365’s shrewd use of brand ambassadors, individuals who we can readily relate to, etches a lasting memory in our psyche, engaging us, creating trust and buy in.

Sports bettors typically have accounts with a number of operators. Of course as consumers we don’t put our eggs in one basket but invariably we’ll have a preferred brand of choice. Equally though, we’re happy to jump ship at a moments’ notice.

When it comes to brand allegiances customers are fickle. Playing the ‘heritage’ and ‘established since the year dot’ card doesn’t cut it with younger, tech savvy audiences who are happy to embrace newer businesses that take fresher approaches and resonate.

Failure to create a brand identity, a promise and values in a congested market place is a precarious strategy. Without a holistic targeted brand approach, you leave the door wide open to random and sporadic consumer purchases and find yourself at an immediate disadvantage to other more brand-conscious rivals.