5 essential ways to benchmark your iGaming brand in a crowded market

Dec 17, 2024 — Blask Team

In iGaming market, standing out isn't about luck—it's about data. While thousands of brands compete for player attention, only those who master strategic benchmarking climb to the top. From competitor analysis to player engagement metrics, discover five proven strategies that transform market intelligence into measurable growth

Understanding benchmarking: a blueprint for iGaming success

What is benchmarking and why does it matter in iGaming?

For iGaming brands, benchmarking provides a crucial edge, offering a structured approach to evaluate performance, refine strategies, and outmaneuver competitors.

Benchmarking, at its core, is the process of comparing your brand's performance, processes, and strategies against others in your industry—or even beyond it. It’s about identifying what works, what doesn’t, and, most importantly, what can be improved.

“Leaders who fail to monitor industry benchmarks risk falling behind in a market that never stops evolving,” says Max Tesla, CEO of Blask. “The cost of ignoring the competitive landscape is often irreparable.”

The stakes for iGaming brands

The iGaming landscape thrives on innovation, but it’s also riddled with challenges:

Fierce competition: With low barriers to entry, thousands of operators vie for player attention. Benchmarking helps identify your unique value proposition in a crowded field.
Player retention: Statistics reveal that many players churn after their first deposit due to subpar experiences. Effective benchmarking can highlight gaps in customer engagement and loyalty programs, turning one-time users into loyal patrons.
Regulatory pressures: Compliance with regional laws is a moving target. By benchmarking competitors who succeed in regulated markets, brands can avoid costly missteps.

Beyond the numbers: why it’s a strategic imperative

By leveraging benchmarking to align with emerging trends—be it mobile optimization, influencer partnerships, or gamified experiences—iGaming brands can secure their place at the forefront of a rapidly evolving industry.

In an arena where only the sharpest strategies thrive, benchmarking isn’t just a tool—it’s the playbook for lasting success.

Stay ahead of the pack: mastering competitor tracking in iGaming

Not all competitors are created equal, and the key to climbing the industry ladder lies in focusing on the players closest to you. With a strategic approach to benchmarking and the right tools, such as Blask, brands can turn data into actionable insights and outmaneuver their rivals.

The importance of knowing your competition

In iGaming, the temptation to emulate the industry giants—those with massive sponsorship deals and ubiquitous ads—is strong. However, as the adage goes, “run your own race.”

For brands with smaller market shares, directly competing with the top-tier players can lead to wasted resources and frustration. Instead, success is built by understanding and outpacing your closest competitors.

“Comparing yourself to a top-tier operator with a 35% market share when you’re at 0.5% is like an indie artist trying to compete with Taylor Swift,” quips Max Tesla, CEO and co-founder of Blask. “The path to the top starts with winning on your own level.”

How Blask revolutionizes competitor tracking

With Blask, operators can identify their nearest competitors based on metrics like Relative market share, estimated Gross Gaming Revenue (eGGR), or First-Time Deposits (eFTD). This precision allows brands to focus their resources where they matter most: outmaneuvering rivals within reach.

Here’s how Blask can transform your competitive analysis:

Precise competitors identification: Blask identifies your closest competitors, ensuring you’re comparing apples to apples. For example, if you’re 45-th iGaming brand in Brazil, Blask will show how you stack up against 42—47-th brands, offering a clear view of your standing.
Data-driven insights: With Blask’s real-time charts and tables, you can monitor changes in Relative market share, eGGR, and eFTDs. It’s like having a dashboard for your brand’s competitive landscape, updating as fast as the market evolves.
Actionable metrics: Beyond rankings, Blask allows brands to track key indicators like MoM and YoY growth and marketing effectiveness. Did a competitor’s flashy new campaign move the needle? Blask provides the data to separate game-changing strategies from costly mistakes.
Growth opportunities: By highlighting underperforming areas or identifying rivals excelling with fewer resources, Blask helps you uncover growth potential. For instance, if a smaller competitor is generating higher GGR with fewer players, their marketing or product strategy could hold valuable lessons.

"Blask isn't just about watching your competitors—it's about understanding them," says Max Tesla. "Every misstep they make is a chance for you to leap forward."

Climbing the ladder, one step at a time

In a landscape where a single mistake can ripple through the market, having the right intelligence is crucial. Blask empowers brands to make informed, strategic decisions, focusing on incremental victories over unattainable leaps. By tracking the closest competitors and staying grounded in real data, iGaming operators can carve a clear path to growth and success.

Winning the players’ hearts: measuring engagement and experience

In the iGaming world, success isn’t just about flashy bonuses or cutting-edge features—it’s about creating a seamless, enjoyable experience that keeps players coming back.

Player experience and engagement are the lifeblood of sustainable growth, and tracking these metrics can reveal the difference between fleeting interest and long-term loyalty.

Why player experience matters

Today’s players expect more than just games; they want a personalized, frictionless journey that caters to their preferences.

Studies show that 90% of jackpot players reinvest their winnings to keep playing, underscoring the importance of creating experiences that resonate with them. Gamification tools, personalized rewards, and a user-friendly interface are no longer optional—they’re essential.

iGaming brands that prioritize engagement and experience stand a far better chance of retaining players. It's about understanding the psychology behind why people play and catering to those needs.

Tools for tracking engagement

To measure and enhance engagement, brands need a multi-faceted approach:

Key metrics to watch: Track metrics like daily active users (DAUs), session lengths, and return rates to understand player behavior.
Feedback loops: Use surveys and social listening to gauge satisfaction. Players who feel heard are more likely to stick around.
Real-time insights: Platforms offer analytics to monitor how players interact with your games.

The path forward

Player engagement isn’t just a metric; it’s a barometer of your brand’s health. By leveraging tools and insights to optimize the player experience, iGaming brands can transform casual users into loyal advocates, turning engagement into a competitive advantage. In this game, the house only wins when the players do too.

Dominating the digital arena: strengthen your SEO and online presence

A strong SEO strategy ensures your brand not only gets noticed but also earns the trust of players by appearing at the top of search results. After all, as the saying goes, if you’re not on the first page, you might as well not exist.

Why SEO is non-negotiable

The stakes are high: 75% of users never scroll past the first page of search results.

For iGaming brands, this means the competition for top keywords like "best online casinos" or "no deposit bonuses" is fierce. Yet, targeting broad, highly competitive keywords might be less effective than focusing on niche, long-tail keywords relevant to your audience and market.

The key is balancing visibility and relevance. With the right keywords and optimized content, even smaller brands can carve out a significant digital presence.

Steps to audit and improve SEO

Keyword precision: Use tools like Semrush or Google Analytics to identify high-value keywords. Focus on GEO-specific terms to ensure relevance in regulated markets.
Technical SEO: Optimize for speed, mobile compatibility, and crawlability. Compress images, ensure quick load times, and make navigation intuitive—players won’t wait for a slow site.
High-quality content: Consistently publish engaging blogs, game reviews, or industry insights. Google rewards freshness and relevance, so update your content regularly.
Backlink strategy: Invest in credible backlinks to boost your domain authority. Partnerships with reputable industry platforms can amplify your credibility.

In the world of iGaming, social media serves as both a megaphone and a microscope. It amplifies your brand’s voice while giving players a lens to scrutinize your reputation.

Social media plays a dual role in iGaming.

On one hand, it amplifies your brand’s voice, giving you a platform to promote campaigns, share updates, and engage directly with players. On the other, it allows players to scrutinize your brand, sharing their opinions and experiences openly.

This means social media isn’t just about broadcasting; it’s about listening and responding. Research from ESPN highlights the power of these platforms, showing that 65% of gamblers are more likely to bet on events that are trending on social media.

“Social media is no longer just a promotional channel,” says Sarah Johnson, a trend analyst. “It’s where brands build their communities and distinguish themselves in a crowded market.”

Influencer partnerships: Collaborate with streamers or content creators who resonate with your target audience.
Interactive content: Polls, quizzes, and live events encourage participation.
Hashtag campaigns: Create trending hashtags to amplify your reach and visibility.

Measuring what matters: assessing financial performance and ROI in iGaming

Revenue figures may paint an attractive picture, but true success lies in knowing how effectively you’re converting investments into returns.

Evaluating your financial performance and return on investment (ROI) is not just about crunching numbers—it’s about understanding the story those numbers tell.

For iGaming brands, the financial ecosystem is multifaceted. Key metrics like Gross Gaming Revenue (GGR) and First-Time Deposits (FTD) provide a snapshot of earnings, but deeper insights come from dissecting these figures.

What percentage of revenue stems from repeat players versus new ones? How does each dollar spent on marketing contribute to player acquisition? Without clarity on these questions, growth strategies risk being based on assumptions rather than facts.

ROI is a vital tool for measuring efficiency.

Whether you’re investing in a new feature, launching an influencer campaign, or expanding into a new market, the question is always the same: are the returns worth the resources?

For instance, an influencer partnership may generate impressive engagement, but does it translate into higher deposits or sustained player activity? Pinpointing the relationship between expenditure and outcomes ensures that every strategy contributes to your bottom line.

Blask offer a competitive advantage in this domain. By providing estimated metrics like eGGR and eFTD, Blask enables brands to benchmark themselves against competitors in real-time. Tracking monthly or yearly growth trends, or even identifying opportunities through discrepancies in revenue-to-player ratios, gives brands the power to fine-tune their approach.

By consistently evaluating ROI and leveraging tools like Blask to keep a finger on the financial pulse of your operations, iGaming brands can ensure sustainable, data-driven growth in an ever-demanding market.

Why benchmarking matters: driving growth and staying ahead

By consistently measuring and comparing your brand’s performance against others, you gain insights that drive decision-making, foster innovation, and solidify your position in a competitive market.

Here’s how benchmarking helps iGaming brands thrive:

1. Identifying opportunities for improvement

Benchmarking reveals gaps in performance, whether it’s lagging player engagement, underperforming campaigns, or inefficiencies in operations.

By understanding where your brand falls short compared to competitors, you can take targeted action to close those gaps. This proactive approach ensures you stay relevant in an industry that evolves daily.

2. Building data-driven strategies

In iGaming, intuition isn’t enough.

Benchmarking provides the data needed to make informed decisions, from optimizing marketing spend to enhancing player experiences.

Tools like Blask empower brands to analyze market trends, monitor competitor strategies, and fine-tune their approach with precision.

Armed with real-time insights, brands can pivot quickly and stay ahead of the curve.

3. Strengthening competitiveness

By keeping a close eye on your nearest competitors, benchmarking ensures you’re not just keeping up but outpacing others.

Whether it’s identifying a successful feature to replicate or spotting a competitor’s misstep to avoid, benchmarking gives you a strategic edge.

It allows smaller brands to compete intelligently, focusing on achievable wins rather than chasing unattainable goals.

The bottom line

Benchmarking transforms guesswork into actionable insights, enabling iGaming brands to innovate, adapt, and grow with confidence. In an industry where the stakes are high and the competition fierce, it’s the secret weapon that ensures you’re not just surviving—but thriving.

By leveraging benchmarking as a core strategy, brands can unlock their full potential and secure a winning position in the market.

FAQ:

1. What is benchmarking in the iGaming industry?

Benchmarking is a strategic process of comparing your brand's performance, processes, and strategies against others in the industry to identify opportunities for improvement and growth. It’s a way to measure success, refine strategies, and maintain a competitive edge in a crowded market.

2. Why is benchmarking important for iGaming brands?

In a highly competitive industry, benchmarking helps you:

Identify gaps in performance and areas for improvement.
Understand market trends and stay relevant.
Optimize strategies for player engagement, marketing, and financial growth.
Compete effectively by focusing on your closest rivals rather than unattainable goals.

3. How can I identify my closest competitors for benchmarking?

Tools like Blask allow iGaming brands to pinpoint their nearest competitors by market share, revenue (eGGR), or player acquisition metrics (eFTD). This targeted approach ensures you’re comparing your performance against brands operating at a similar level.

4. What metrics should I track during benchmarking?Key metrics include:

Player engagement: Daily active users (DAUs), session lengths, return rates.
Financial performance: Gross Gaming Revenue (GGR), First-Time Deposits (FTD), and ROI.
Market share: Relative market standing and growth rates.
Marketing effectiveness: Monthly and yearly growth trends, campaign performance.

5. How does benchmarking help improve player engagement?

By analyzing engagement metrics like session duration, feedback, and return rates, benchmarking identifies what resonates with players. Tools like Blask provide real-time insights to optimize user experience, loyalty programs, and gamification strategies.

6. How does SEO factor into iGaming benchmarking?

SEO benchmarking allows brands to evaluate their online presence by comparing keyword rankings, search visibility, and domain authority against competitors. Optimizing technical SEO, content quality, and backlink strategies ensures your brand stays at the top of search results.

7. Can small iGaming brands benefit from benchmarking?

Absolutely. Smaller brands can use benchmarking to focus on incremental improvements and achievable wins. By tracking their closest competitors, they can identify effective strategies, avoid costly mistakes, and carve out their unique market position.

8. What role does financial benchmarking play in growth?

Financial benchmarking evaluates how well your investments translate into returns. By analyzing metrics like eGGR and ROI, brands can fine-tune strategies to maximize revenue and identify opportunities for cost-efficient growth.

5 essential ways to benchmark your iGaming brand in a crowded market