If there is one industry that has undeniably had an image overhaul in recent years, it’s the bingo sector. Once seen as the reserve of old age pensioners and housewives, it might have been enduringly popular, but it was marketed to only a very limited audience.
As will always be the case with products that appeal to a niche demographic, this eventually led to a sense of stagnation within the industry, as well as capping many of the opportunities that might otherwise have been open to providers.
However, rather than accepting its seemingly slow decline, the bingo sector adapted, and became one of the most surprising and enduring success stories of 21st-century commerce. Here are just a few of the lessons that you can learn from it.
It’s important to have an online presence
A key factor in its overhaul was the willingness of the sector to embrace the advent of online technologies. Indeed, while bricks-and-mortar bingo halls continue to thrive, these are now supported by a host of internet-based offerings, which help to whet the appetites of players and give them a taste for the game from the comfort of their own home. This is an approach that can be applied to a whole host of other businesses, with consumers on the whole liking the luxury of being able to view, purchase, and test drive your products online as easily as they can in-store.
Variety is the spice of life
Taking inspiration from the wider casino industry, many online providers have either merged with a larger concern or increased their own offerings beyond mere bingo into online slots, scratch cards, and even live casino. And, whether they specialise in bingo or host multiple forms of entertainment, they all ensure that players have plenty of options to pick between. For example, those who play online bingo at Betfair have dozens of different rooms to choose from, from a Deal or No Deal-inspired game through to a Grease offering. This same tactic can be applied to almost all commercial ventures, with a greater range of products and services guaranteed to ensure a more broad-spreading appeal and a larger audience to tap into.
Offer options for every budget
While a strong online brand and diverse offerings are great ways to grow your business and take your entrepreneurial endeavours up a notch, it’s also a good idea to offer options for every budget. This is something online bingo providers do incredibly well, with lots of different ticket prices and prize pots available. What this means is that almost anyone can play, and this is something you ought to replicate with your business. That’s because providing products to suit every price bracket makes you accessible to a much wider audience, which should hopefully help your sales to snowball.
When it comes to improving your business and building your brand, there are lots of lessons to be learned from the bingo sector, and all of them could be of benefit to you. Why not put them into practice today to see your sales and profits soar?