Andrei Aleksandrov, MEGAPARTNERS’ CPO, spoke about what a product-oriented approach in the iGaming industry is, answered the question what product issues and challenges he faced when he joined MEGAPARTNERS, and shared the company’s immediate plans and updates in terms of product in 2024.
What is a product-oriented approach?
The product-oriented approach focuses on aligning all aspects of the business with the product’s strategic goals. It takes a holistic view of the entire product lifecycle, from idea to realisation. It emphasises customer needs, market trends, and iterative development.
I chose this approach because it fosters a deep understanding of customer pain points, enables rapid adaptation to market changes, and promotes a culture of continuous improvement. It brings cross-functional teams together to achieve a common goal, ensuring that product development is synchronised with user needs and industry dynamics.
My arrival at MEGAPARTNERS
I can’t say that I immediately faced the challenges directly. The issue was that a deeper understanding of the problems was required. First, I was closely involved in analysing our internal products — we conducted audits of each product separately and identified their strengths and weaknesses. Then, we started a long process of improving them and worked in parallel on product and behavioural analytics. It’s crucial to remember that we have many brands; even though they may not be market leaders, the approach to each is unique — we have different licences, platforms, and strategies.
In this regard, we also rolled out work to analyse the traffic ROI and better understand its vulnerabilities and shortcomings. We have also started building product and project processes in the company. Today, we are close to creating a convenient and efficient internal system for controlling, analysing, and launching products, and we plan to grow and develop further.
Whereas we used to have one project in the setup, we now have five, while our legacy projects continue to increase their performance and improve. This year, we will be able to compete boldly with many other products, both in terms of innovation and metrics.
How do you get a player to “fall in love” with your product?
Creating an immersive experience for players is the key to winning their favour. The secret lies in a simple user interface, personalised interaction through data analytics, and constant innovation in features. We can create a solid emotional connection with players by providing a product that meets and exceeds user expectations, nurturing a sense of community, and offering exclusive rewards or experiences. Add to this a regular incorporation of user feedback and adapting to changing trends, which also helps build long-term loyalty.
The role of UX/UI design in product development
UX/UI design plays a vital role in product development by influencing how users interact with the product. User-friendly design is critical to creating a positive and engaging experience, but does not guarantee a warm welcome. While intuitive navigation, aesthetically pleasing interfaces, and efficient workflows increase user satisfaction, overall success depends on delivering features that match user needs and preferences.
Achieving a balance between functionality, aesthetics, and usability ensures that the product looks attractive and provides real value, contributing to a positive reception from the audience.
Gamification in an online casino product
Gamification of an online casino product involves incorporating gaming elements and mechanics to enhance the overall user experience. It goes beyond traditional gambling by offering exciting features such as rewards, challenges, and interactive elements that mimic the excitement of gameplay. This approach aims to create a more immersive and exciting environment for players.
By integrating features such as loyalty programmes, achievement badges, and interactive tournaments, the product becomes more dynamic and evokes a sense of progress and achievement for players. Gamification is not just about winning or losing bets; it’s about making the entire gaming experience more enjoyable, social, and rewarding.
How will AI impact the development of online casinos as a product?
AI will profoundly impact the development of online casinos, improving personalisation, security, and the overall user experience. For example, AI-powered recommendation systems can analyse player behaviour to offer personalised game selection, promotions, or even betting strategies, creating a more individualised and engaging experience.
In addition, AI algorithms can play a significant role in fraud detection and prevention by identifying unusual patterns in user activity and ensuring a safe gaming environment. Moreover, chatbots driven by natural language processing can provide instant customer support, answer queries, and guide players seamlessly.
This not only improves customer satisfaction, but also optimises operations. The integration of artificial intelligence technologies will continue to evolve, offering innovative solutions to improve player engagement, security, and operational efficiency in the online casino industry.
Retention and product interaction
Retention and product development are inextricably linked, and internal retention is paramount to building a solid product. A robust retention strategy involves understanding user behaviour, analysing data, and continually optimising the product to meet growing expectations of users.
By carefully monitoring user interactions and addressing pain points through product improvements, internal retention efforts help build a loyal user base. A strong product attracts new users and retains existing ones through a continuous and evolving experience. Regular feature updates, personalised content, and targeted promotions based on internal retention information are crucial in driving user engagement and satisfaction.
The feedback loop created by in-house retention efforts ensures that the product remains adaptive and relevant to user needs, fostering long-term loyalty and success.
Measures to increase a player’s LTV
I will name five, in my opinion, of the primary measures that contribute to increasing a player’s LTV:
— Personalised rewards: implementing a dynamic reward system based on player behaviour and preferences provides a personalised approach. These can be bonuses, exclusive promotions, or loyalty programmes.
— Data analytics: using data analytics to understand player behaviour enables the identification of high-value segments. This information helps personalise marketing efforts and refine products to meet specific player needs.
— Retention-focused features. Implementing features designed to increase player retention, such as personalised recommendations, social interaction, and regular content updates, helps increase player lifecycle.
— Cross-selling and add-on sales. Strategically promoting additional products or features to existing players can increase their overall spending and engagement with the platform.
— Regular product iterations based on user feedback and industry trends ensure the offering remains attractive, reducing player churn and maximising LTV.
The combination of these measures maintains a holistic approach to player engagement and satisfaction, ultimately increasing their lifetime value.
Plans and updates of MEGAPARTNERS in 2024
We have a lot of changes ahead of us; apart from launching new projects, we have established processes to improve the current ones. Consequently, we are preparing a major update for Betsomnia: we have entirely redesigned our front end, organised a global brand concept, and a new loyalty programme, and are already drafting the layout.
Among other things, we have changed our approach to creating new brands, and all our new brands will be able to compete with the market leaders regarding functionality and visuals. We are also expanding our presence in different geographies and restoring mass traffic purchases of old brands, so that we can confidently say that we are increasing our turnover, workload, and expanding our team.
As part of the team expansion, we are also planning to create our own retention and support departments, and we are already working on developing our own analytical tools to compete with other offers on the market.
