4 Tips for a Successful Online Lottery Setup (From Scratch)
Online Lottery Setup seems deceptively simple, but don’t be fooled! Read on to see some of the key steps that must consider to do well in this line of business.
You need to understand the gaming climate and environment before you set up shop. A crucial element for success is to bring the right games to the market. You cannot simply replicate strategies across countries without understanding the dynamics of that particular country. If sports betting games are more popular, you may need to introduce and conduct fast-paced games. Maybe a simple online lottery setup might not work as well, in such a market.
Hire an Expert
To understand the market and to devise the right strategy and to define the operations going forward, you need an expert who understands this industry, especially so, if you do not possess the relevant domain experience. You may have the knowledge, but experience trumps knowledge!
An expert usually comes loaded with experience. They would ideally know the market like the back of their hand and possess the relevant experience. You can either hire a suitable COO on a full-time basis or recruit the consultancy services of technology providers and/or consultants with years of experience in the African continent like Dusane. These services could range from a short-term tenure for drawing up a roadmap for you to an extended contract period to hand hold and lead you to success. Do not make the mistake of being penny wise on this point- Expert knowledge and advice is a must before you invest. You can even hire an expert to re-launch or revive a failed brand.
Money talks, it gets a great deal done. But it’s not the end of it all. Along with money, you need to know where to spend it. Investing in the right infrastructure is crucial to your success and determines your optimal strategy. Along with investing in the right kind of terminals, also be aware of achieving the appropriate terminal density. If you have limited funds and can invest in only a smaller number of terminals, your strategy should reflect the same. You need to be more localized; your marketing and target focus should be concentrated in that area. Remember not to spend it all on physical infrastructure. You also need funds for marketing, sales, and human resources. Again, this is where an expert or a consultant can help you in exercising financial prudence.
The final and most vital topic of all: Can you think of a product that did not need marketing? Even a product like iPhone and a Company like Google spend heavily on marketing. Ignore this aspect at your peril! In fact, ignore it and guarantee heartache and a bigger possibility of failure. There are several aspects of marketing that you need to handle. First is brand building. Ensure that your brand is known to potential customers and enjoys a top-of-mind recall when they decide to bet. Avail of the various marketing mediums at your disposal. With good internet penetration rates in most markets, online marketing offers a cheaper and higher ROI option. Hiring a good digital marketing firm with a proven record in the African market to do it for you, would make for a lot of business sense. A firm like Paarami Digital Consulting with experience in the African continent and expertise in digital marketing could be a good solution for your needs.
Another aspect is building a retail and distribution chain. Invest in your distributors, as they are the ones who will finally get sales for you. They will be the champions of your cause and get you the daily gamers. Provide marketing collateral, branding support, sales training and open, clear lines of communication. Treat them as your partners and build your success with them. Choose the right distribution model- retail, online, app, etc. You can have more than one route but there will be one that drives the most customers towards your doorstep. Also, understand how the various channels interface with each other. E.g. customers may prefer to buy the ticket at the retail counter but view the results online.
Apart from terminals, cash mechanism and establishing ties with credit institutions for automatic credit approval for your customers is another area of focus. This will ensure a seamless and smooth experience for them and increase their confidence and enjoyment with your brand.
As with any business, online lottery setup and sports betting can seem very lucrative but without proper planning and implementation, success is difficult. Understand the market, take expert advice, build a concrete business plan and follow it religiously to ensure your success.
About Dusane Gaming
Dusane is an expert in lottery software technology solutions for the online gaming industry with almost 12 years experience of turnkey implementation of gaming solutions in 24 countries across 4 continents. Dusane provides comprehensive, robust and integrated consultancy services to its clients for lottery operational setup and roll out. Recognising the potential of African markets, Dusane has developed a specific focus on this region. Dusane has worked in most African markets, where gambling is prevalent. For example; Chad, Ghana, Kenya, Mauritius, Nigeria, South Africa, Swaziland, Uganda, and Zimbabwe. Dusane’s Online Keno System is built on its proprietary BATS betting system and has been successfully implemented for several satisfied clients.