Fitzdares CEO William Woodhams thinks that operators are stuck in the “acquisition, acquisition, acquisition,” with their absence of creativity holding UK advertising agencies in company.
Fitzdares is a personal bookmaker that relies on high-spending bettors, meaning that the carrier does not target the mass market with its marketing.
But, looking at the remainder of the gambling industry, Woodhams found that there is “no investment” in customer retention and that too many funds are devoted to the obsolete medium of television advertising.
The CEO said at an industry conference: “The only people winning here are advertising agencies. Advertising agencies in the UK should be dead; they’ve not pivoted fast enough to consumer needs.
“All they want to do is make expensive television adverts. The only people that can afford to make expensive television adverts are the betting industry, so the hipsters in Soho still all have jobs.
“Bookmakers are taking up a huge portion of television advertising and it is a dying medium. It’s a much less effective medium because everyone’s online.
“We’re stuck in a rut of acquisition, acquisition, acquisition. If you look at this acquisition funnel and only the people coming in through the door, they are leaving in equal numbers out the other end.”
Woodhams also called for a rethink of traditional marketing strategies, which attributes a decline in customer loyalty to the static strategy of the industry.
He explained: “Why do we keep giving these people money? We’re showing no creativity. Are we really supporting sport by sponsoring a placard or shirt? I’m not sure.
“I think we should rethink that. There’s now no loyalty as there’s no investment in retention or reactivation.”