Business reputation is a by-product of what people think and feel about a business. It is based on what they’ve heard, the facts they have gathered, and most importantly, their experience.
Unfortunately, many gambling operators believe that how they think their business appears to others is the “be all and end all” of building a business reputation.
Conny Dorrestijn of Holland Fintech pointed out that the gambling industry can learn a lot from the banking industry when it comes to building their business reputation.
She recalled that people lost faith in the banking system in the aftermath of the 2008 financial crisis, which hit Europe and the United States. Banks, the primary holders of sovereign debt, faced huge losses. Smaller banks collapsed, while people lost their jobs and homes as a result of the crisis.
The banking industry has since gained back its sterling reputation simply by putting a great deal of thought and effort into ensuring a great experience for their customers.
“First of all, I think they [banks] have accepted that they played a dubious role and they said, ‘You know what, we have a crisis, we have to sit on the blisters—as we say—and now we are going to change and really open up the banks to our customers,’” Dorrestijn told CalvinAyre.com. “Listen to our customers. And we will use a new technology to build a landscape.”
She emphasized the importance of gaining customer feedback in improving business reputation. In the gambling industry, operators should ask people about what makes them dissatisfied about their offerings, according to Dorrestijn.
“Say to somebody, ‘Forget about the facts and just tell us about how you felt doing business with us.’ Particularly physical casinos or online casinos, they should say, ‘Forget about whether they took the game technically, tell us how you felt,’ because this is such an experience,” the Holland Fintech executive said. “Very important as well, ask people where they are truly dissatisfied. Because you will learn so much more from the pains sorted before you move to the game.”
To boost their reputation, Dorrestijn also reminded operators to invest in making innovations. She lamented that most operators nowadays are too protective of their existing revenue that they forget to improve their products and services.