Retail to online: top five considerations to power your online business

Retail to online: top five considerations to power your online business

Land-based operators trying to quickly transition to a digital space may find it more difficult than anticipated. Ivo Doroteia, Sportingtech CEO, discusses the top five considerations when moving a business from retail to online.

The omnichannel experience

The omnichannel experience is now paramount to long-term success in the betting industry – a presence both on and offline is key to attaining a high level of player engagement and retention. There are major opportunities for online betting in emerging markets, such as in Latin America, and committing to a digital presence can result in serious gains. Through the next-gen capabilities of Quantum, operators can evolve their offering – giving customers more options and providing players with a greater level of engagement through the medium of multiple channels.

Choosing the right platform to build from

While the opportunities for diversification can be tempting, the move from bricks and mortar to online can quickly fail if the migration of content from a physical space to a cloud-based one is not approached with a practiced hand at the helm. A high-quality platform like Quantum allows the freedom to explore the possibilities of a vast regulated market, with the platform’s unprecedented speed to market allowing the smoothest possible transition. Additionally, Quantum’s flexibility allows for the integration of a variety of content, dependent on the demands of a particular market, easing integration further.

Communicating with new and existing players

Land-based operators and bettors are accustomed to interacting in person; connecting with players provides a different challenge online, as does CRM communication, customer support and maintaining VIP relationships. Well-designed software like Quantum allows for seamless integration into new markets with true localisation. By keeping the channels of communication open with Quantum, operators can retain an existing player base while boosting the acquisition of new players.

Is the technology scalable?

The decision has to be made whether a new digital offering will differ, or whether it will translate well as is to its new environment. With the online space ever expanding and customer bases expected to grow, scalable technology is a must to ensure your business can cope with increased pressures and demands. Platforms such as Quantum have been developed with the specific intention of easing this transition, with scalable tech that can adapt to any and all of an operator’s needs, whether this be accurately transposing an existing land-based model to digital or building a brand new online identity from the ground up. Having a diverse platform like Quantum in place that can handle a number of iGaming verticals at once, including mobile, web, and POS for retail, streamlines the process for an operator and allows them to integrate themselves quickly into markets that are frequently changing.

Risk mitigation

Any attempt at expansion is inherently a risky one, as any company’s growth is, and to efficiently migrate a company to an online space, the risk must be acknowledged. Utilising a tried-and-trusted platform like Quantum mitigates a lot of the risk involved in the retail to online move. Quantum is able to employ a Risk Management Toolbox to ensure customers enjoy a safe and secure payment experience without adding unnecessary hurdles to the betting experience and payment process. The road to creating and maintaining an effective online presence is fraught with difficulty, but a lot of the danger can be removed if you partner with a robust solution like Quantum.

Want to find out more about how Quantum can power your new online business? Get in touch at sales@sportingtech.com and experience a demo of services.

Keep up to date with the latest developments

News & Featured | Events | About once per month