The betting market is developing rapidly, thus increasing supply and demand. It is no longer enough to use traditional tools to improve marketing results, so companies need modern marketing solutions, and MarTech is one of them.
The Eye of Sauron, Monitorro – nope, these are not supervillains, these are the names of our MarTech tools for the betting market. Let’s dive into what MarTech is, its development features within the betting market, and Parimatch Tech’s tools as examples of unorthodox solutions for online gambling and betting companies.
What is MarTech
MarTech describes a range of technologies designed to manage marketing operations and achieve marketing goals.
In 2020, the number of Marketing Technology solutions reached 8,000. Among the most popular are Digital Asset Management, Analytics Tools, Lead Management, Customer Relationship Management, Marketing Automation, Content Management systems, and Social Media Management.
The results of an annual study assessing the state of marketing technologies around the world show that the number of MarTech solutions is constantly growing. In 2021, the MarTech technology market was estimated at $350 billion, while in 2019, the estimated value was $121.5 billion.
Statista: Growth in the number of marketing technology solutions available worldwide in 2020, by functionality
Traditional technology marketing tools are not suitable for all business areas, especially for companies in the betting market. We share our tools with the gambling market and emphasize what is important to keep in mind when implementing technology marketing.
The results from MarTech are impressive, even though it’s understood that the exact numbers remain behind company walls.
MarTech Stack for betting companies
The gambling market requires unorthodox marketing solutions, even for MarTech because traditional Marketing Technology tools are often irrelevant in this market. So, realizing that the market didn’t have the tools required to achieve our goals, we at Parimatch Tech began to develop our own solutions. Therefore, we developed MarTech Stack, with tools combined into a single ecosystem:
MarTech has been actively developing for the last 1.5 years and has already proven its effectiveness in the betting market. Parimatch Tech develops technology marketing in 3 ways:
- Developing in-house tools;
- Connecting third-party tools such as SaaS;
- Combining: finding partners to build tools for the company through industry and marketing team expertise. Partners can subsequently resell these tools to other consumers – thus, the company gets a tool developed for itself without spending developer resources, but investing in the market expertise instead.
List of tools to optimize and improve performance MarTech developed by Parimatch Tech
Prism — online betting Traffic Delivery System (TDS)
Prism helps distribute the consumer's path properly: by clicking the link, the client goes immediately to the desired page. This is due to various scenarios, such as geolocation, device type, customer status (newbie or regular customer), language, and more. From 150 to 190 million clicks pass through Prism per month.
PM Offers is referral Marketing Technology software. The platform has two parts: the affiliate manager module and the affiliate partner. You can set and create tracking links in the platform attached to their clients. You can also track statistics in real-time in the admin account.
Before we created PM Offers, no other tools could handle data loading, and delays could be up to 8 hours. In marketing, the winner is the one who gets information as fast as possible and can make quick decisions and optimize established campaigns.
In-house service AdPool for online betting
Despite the wide range of programs available on the market, as a betting company, we were not satisfied with any of them. So, Parimatch Tech joined forces with our partners to develop an in-house AdPool service of our own.
AdPool is a complex solution that helps build a system within the company for purchasing traffic and analysing the data obtained from this traffic. Currently, the main task of AdPool is to gather the entire process of purchasing advertising in one place. In essence, this is the deprivation of hundreds of different advertising offices, replacing them with one. This creates order in the traffic purchase and a single entry point with a user-friendly interface.
In addition, the service provides technological changes in the purchase of traffic – the transition from direct purchase to auction: when the purchasing process becomes automatic, AdPool selects traffic that meets the specified parameters. It also controls and optimizes targeting to reduce the cost of purchasing traffic, and monitors and systematizes networks to detect fraud. The tool also helps launch remarketing, target users, and substitute relevant advertising.
The Eye of Sauron
This service directs notifications to Slack and helps find errors in online betting advertising campaigns. For instance, Eye of Sauron checks that there are no more than three ad formats on one site page. Thus, this tool notifies the employee in Slack that this site uses excessive advertising, and therefore the money is wasted. The Eye of Sauron monitors the first impressions rule every 10-15 minutes. The service has a statistics module that allows you to see the placement of advertising by Parimatch Tech and competitors – their media activities and messages. In essence, we use the service to monitor the quality of advertising space and a certain spying tool.
The Monitorro service checks the availability of all marketing projects and, in a separate chat, notifies the marketer of errors or long connections. Monitorro also checks availability from different geolocations and devices, so marketers check which devices and country links are open.
How else is it possible to develop MarTech in the company?
MarTech is about technology, tools, and other equally important aspects that marketers should consider. The development of the technology marketing ecosystem is followed by implementing it in business and ensuring a quality work process: freeing employees from operational work and freeing up time to test designs, generate ideas, and validate them. Below, we answer some frequently asked questions and discuss barriers that marketers may face.
Employee technological mindsets
Adaptability and the desire to develop are two of the most critical soft skills of technology company employees. Implementing technology marketing is not just a technical process. One of the key components is training employees to use new tools. In most cases, this requires a radical change of mindset.
To be honest, this is not an easy process. Sometimes it is difficult for people to change the workflow and implement new processes because they are accustomed to how it’s always been done. Especially with the pandemic and remote work culture, onboarding people on projects with high-level entry points isn't easy. There’s also the fear that technology will push them out of work, thus their resistance to learning something new. Accordingly, the task of Parimatch Tech is to make internal services as simple as possible, to teach employees how to find the right solution that’s also the best.
Technology vs. Creativity
It's an age-old comparison that confuses many. Technologies are more critical in the company's further development. It's wrong to say creativity is unimportant, but technology plays a more crucial role because it allows you to increase the multiplier of every dollar invested.
There may not be enough time for creativity without technology because when working with different segments, we want to personalize communication and apply the most relevant strategies. However, it turns out to be the best mix if we discuss creativity in technology and do what no one has done before. Creativity and technology are synergies, and they must go hand in hand. But then the company grows huge, and it becomes harder to modify old approaches. In that sense, the distribution of the changes is no less critical than the changes themselves.
Personalized approach to clients
Marketing Technology directly influences the personalized approach to consumers. Given that tools such as retargeting and personalization are not available to companies within the two largest advertising networks – Google and Facebook – we have built an in-house ecosystem where we can develop. We connect customers in different advertising networks thanks to our technology. MarTech helps us select personalized advertising suitable for the client.
For instance, we know that online betting consumer loves hockey, so for him, we choose an advertising banner about hockey games (DCO). So far, this is quite basic, but of course, we’re expanding our expertise to generate a highly relevant personalized banner in the future as soon as the customer visits any website.
If we mention the future of the operational part of marketing — it's MarTech. It facilitates the marketer's work by automating processes that take too much time. Marketing Technology tools efficiently process, analyse and interpret customer data while maximizing company profits and marketing team performance. Most likely, the question is not whether to develop MarTech in your business or not, but what tools you need. Because without MarTech, the future profitability of the business remains in question.