Making odds comparison more personable
Cutting through the choice to find the odds and bets people want is becoming harder, meaning odds comparison sites need to do more, says Henrik Lykkesteen, chief commercial officer at Better Collective
One of the great things about the betting industry is that there is something for everyone. Punters can place bets on everything, from the weekendâs big football match or next major transfer, to political decisions and TV shows.
However, the beauty of the industry’s variety also provides a challenge for odds comparison sites and other affiliate services. An overabundance of choice can lead the consumer to an overloaded mindset with too much to pick from, users can become frustrated and pick nothing at all.
Punters are coming down with a case of “Netflix Syndrome” - a term coined to describe a person unable to make an active decision when faced with too much choice. It’s a decidedly modern affliction, which is present in many areas of modern life, whether it’s phone choice, app decisions, broadband deals Netflix Syndrome can strike anywhere.
Netflix itself is looking to new algorithms that improve the intelligence of its personalisation mechanisms, in order to tackle the onset of clutter that can come with larger offerings. Using past viewing habits, the technology listens to what the viewer wants, and aims to put the most appropriate choices in front of them. Taking into account what a punter prefers is something that our industry also needs to better consider.
The personal touch
Odds comparison sites have long been one way for bettors to view large swathes of pan-industry data in easy-to-use, bitesize pieces. When stripped of their flashy components, they are fundamentally basic; they pull information from a variety of sources and present it to their users in easily digestible ways.
Traditionally, the order with which events and markets are prioritised is an editorial one. However, user requirements are changing. As with the Netflix example, people want data that’s specifically relevant to them, and odds comparison sites are beginning to take notice.
Better Collective’s SmartBets, for example, was designed as an odds comparison product with this very much at the forefront of our minds. The site has user preference at its heart, including the ability to create custom profiles that let users pick their favourite teams, leagues, betting markets or operators. Beyond the profile, SmartBets offers personalised accas, as well as the option to receive mobile notifications in real-time to let users know how their bets are getting on.
There are a number of clear advantages to this personalised approach. For odds comparison sites, revenue results from completed user journeys when a bet is placed. Simply presenting the odds works for a one-off transaction, but affiliate services can provide an entertaining and enjoyable betting experience which keeps users coming back to their site. It’s no good viewing ourselves as simple mediators between punters and bookmakers. Odds comparison services have a major influence on a punter’Â betting experience. That’s why it’s imperative that services do more to make sure that the experience is personal.
Improving and extending the personal touch drives up user engagement, return rate and chance of continuing their onward journey to an operator and making a bet. Additionally, helping users more easily get to the markets or events that they want adds another layer of engagement that helps them mould and maximise the experience for their own benefit.
Imagine that a user is an Arsenal fan and likes to bet on goal scorers. The likelihood is that the fan may not see a need to look at outright betting markets for, say, Chinese football leagues. Betting odds are an extension of their fandom, and it is their unique fandom lifestyle that odds comparison sites must cater to. Not only does it make the experience easier for the user, it shores up the relationship between user and affiliate.
It may be that the site understands that a user is new to the service. In that case, walk-through demonstrations can be introduced, or how-to guides that clearly explain how to make the most of the odds comparison products. The punter’s perception of their odds comparison site or affiliate should not simply be an extension of how they see the bookmakers; it should be a place where they can discover helpful information and guidance.
That guidance can be through editorial, such as blogs, analysis and imagery, or instructional, through how-to guides. The point is that every piece of the puzzle is of use to a punter. If it isn’t, then they will soon switch off or move elsewhere.
Evolve or die
The next step is building and strengthening that relationship. We’ve looked to give our site a personality, something that users can relate to. On the user experience (UX) front, the design and site functionality must be well put together. If the product is well-made and well-presented, then it engenders trust in its service.
One of the key pillars of Better Collective is transparency and it becomes natural to create an interface that allows us to explain the state of the markets directly to them. It’s important to facilitate conversations, and this can be done by creating a digital mouthpiece that can project our voice. This led to the introduction of BetBot, an automated chat mechanism that operates on the site and through Facebook Messenger. It gives the site a voice and more personality again.
BetBot is able to interact with users and answer questions they may have regarding the odds. It’s another product that looks to achieve the goals of creating a personal relationship with each of our users. I see this as the next step in personalisation; the site talks to individuals, listens to their wants and needs, and ensures that they are given the best possible service that suits them.
The result is beneficial for all parties: the user, the odds comparison service and the operator. If odds comparison sites can extend the level of interaction they have with their users, they will increase the average time those users spend on their site and provide more opportunities to increase revenue.
Proof is in the pudding
Critically, the symbiotic benefit of personalisation products is that the more they can interact with the user, the more personable the product becomes, and thus the better it can cater to the users’ needs. It’s an upward spiral of understanding that achieves results.
Targeted markets, bookmaker offers or editorial pages can be used to provide customers with the best possible experience, opening up the way to new markets within the same sports or further. Technology will continue to advance, becoming more intelligent and interactive. Today, it might be helping a football fan to delve deeper into match markets. Tomorrow, it might be having completely unique conversations with users based on their betting habits or interests, helping them find specific markets suited to their desired experience. There really is no limit to how personalisation can make fans’ experience of affiliates and betting even better.
As odds comparison sites look to the future, the services they offer will become more diverse, wide-ranging and at the same time, intimate. As the relationship between punters and operators becomes diminished, bettors now show little loyalty to bookmakers, and tend to go in the direction of the best prices. It’s the relationships between the odds comparison sites and the punter that will become ever more important, for both operators and punters.
While odds comparison sites musn’t lose sight of their core purpose, which is presenting the odds in a stimulating and easy-to-navigate way, what’s exciting is that sites are stepping up to the challenge. They’re making use of the technology that is available, exploring new technologies and innovations, and ensuring that we stay front and centre for punters looking to make the best bets.
Henrik Lykkesteen, chief commercial officer for Better Collective, is an expert in marketing with more than 15 years’ experience in digital sales and strategic management. He has been with Better Collective since 2014, with his main focus being developing the commercial side of the company’s global sports betting portals and concept sites.