One of the vital tasks for every sportsbook is creating an annual bookie marketing budget. If you want the bookie business to grow, you need to attract new players and retain existing ones. Thus, it would be best if you got the word out to achieve the goals.
A marketing campaign allows you to spread the word about your services. Also, it lets people know why they should choose your bookie business over competitors. Without sufficient funding, you can’t grow the sportsbook.
Becoming a successful bookie requires you to become a marketer on the side. The good news is that using a pay per head for bookies can help you save money running the sportsbook. Thus, you can use that money in the marketing effort.
Bookie Marketing Budget
According to a recent study, bookies spend around 12 percent of their budget on marketing. The marketing budget depends on several factors: business needs, sportsbook revenue, bookie software platform, and more.
Also, the marketing budget depends on your goals, strategies, and channels. For example, in most cases, bookies spend money on web optimization, digital search and media, and digital marketing. As a result, they increased their funds for digital marketing and reduced the budget for traditional ads.
Although 12 percent of the company’s overall revenue is the average allocation for marketing, you can get away with seven to eight percent for the marketing budget. It is enough to improve the sportsbook’s player base.
One way to stretch the marketing budget is through search engine optimization. SEO can work wonders even if you don’t spend a lot of money on it. Also, you can invest in pay-per-click ads. They are more affordable than traditional marketing.
That’s how you allocate money for the bookie marketing budget. Make sure you visit our bookie tutorial page to learn how to become a successful bookie in the long run.