Let’s face it, here in the digital age there’s a seemingly endless supply of trends that we, as business owners, should be embracing. While many of these trends will come and go, social media is a trend that is well and truly established here in 2022. If your business doesn’t have a social media presence, you’re missing out on one of the easiest and potentially most lucrative ways to communicate directly with your customers.
Knowing where to start with creating a social media strategy can be a bit of a minefield, so in this article, we’ll be sharing some social media lessons all business owners can learn from the world of casino gaming.
Steer clear of Novelty Strategies and Platforms
In this lesson, we’ll be learning from the world of online roulette. As with all iGaming verticals, the internet has given players unbridled access to knowledge about different strategies, some of which, like the Martingale strategy, date back to the 1800s.
However, while this classic strategy seems like a novelty to modern players, it doesn’t necessarily mean it’s the most useful one to adopt. In fact, leading operators in the industry actually advise players against using it in gameplay, since in inexperienced hands it leaves too much margin for error.
We can say the same about all the novel social media platforms and techniques that are flooding the internet. While trial and error is an integral part of developing the right strategy for your business, flitting from one technique to another simply because they’re new won’t lead to long-lasting, measurable results.
Take Calculated Risks
Ok, going all-in on your Facebook strategy is a little different to playing a multi-million dollar hand at the final table of the WSOP, but the methodology that pro poker players use to make such crucial decisions can be applied regardless.
Ask any top-level pro and they’ll tell you that a large driver behind their success is the ability to take calculated risks. They don’t avoid risk, instead, their focus is on figuring out which risks are the ones worth taking.
In some respects, as a business owner, you’re actually in a much more informed decision about which risks to take than pro players, who only have a limited amount of information to guide them at the table. You understand your target audience, you’re well informed about the products or services you provide and, if the risk in question involves collaborating with a new or controversial brand, you still have the opportunity to test the waters before making any firm commitments.
Identify the Platforms with the Best RTP
Now that you’re much better informed about how to go about developing your social media strategy, and you understand that taking risks is all part of the process, you can start to think about which platforms you should focus most of your efforts on. For a little helping hand with this, let’s look to slots gaming for some inspiration.
Savvy slots players know that if they want to maximize their bankroll and generate a profit, they need to stick with the games that offer the highest Return to Player (RTP). You can apply this approach to social media platforms. In this instance, your time and effort is the initial outlay that you’ll be investing, so you need to concentrate the majority of your strategy on the platforms that will provide you with the most returns – whether that be in the form of user engagement, click-throughs or new sign-ups.
Know your Strengths and Weaknesses
If there’s one thing that unites all types of successful casino gamers, it’s the fact that they are all aware of their strengths and weaknesses as players. Being armed with this knowledge allows them to create effective strategies for gameplay that both maximise the elements they’re best at and provide backup for those scenarios in which their weaknesses might be exploited.
As with the other lessons in this article, we can easily apply this approach to social media marketing. In this instance, identifying your strengths will in turn help you identify those platforms that are the best fit.
Say, for example, that you’re a natural with video content, you don’t have much of an advertising budget and you have a lot of engaging knowledge to share with your target audience. YouTube would be the platform to choose to maximise your strengths.
Similarly, if your target demographic are professionals and high-earners, you provide business services or products and you’re adept at writing smart, long-form content, establishing a presence on LinkedIn would be the best direction to go in.