The ‘need for speed’ and instantaneous gratification for today’s Digital Natives is paramount for brands operating in today’s Digital Economy.
Digital Natives are tethered to their devices and enslaved to technology that the device delivers. Just like your coffee first thing in the morning, everything in day-2-day life is connected, and always on. This digital universe is about instant gratification and instant real-time communication, for our still digitally connected and demanding digital society. This, of course, has had a polar opposite reaction to the accessible information technology delivers to our fingertips. It has resulted in the goldfish effect, where the average attention span is said to be 9 seconds or as some pundits coin the phrase 'D.A.D' - Digital Attentive Disorder.
In short ‘D.A.D’ is affecting our willingness to be patient and dare; we say wait in either a physical line or a digital virtual one at the checkout page, the registration page, in fact just about anything that takes more than a tap, pinches or swipes to complete on the mobile haptic screen.
Instant digital communication pervades everywhere, from messaging apps like WhatsApp, WeChat, Facebook Messenger and Telegram to productivity tools such as Slack. Digital Native consumers now measure communication responses in minutes sometimes seconds and not hours or even days anymore. With the likes of Uber we track our taxi in minutes, with Tinder and Bumble, let’s say well we even locate potential partners to 'date' without a preamble courtship or wasted time.
Why is everything instant? It’s all about time. Time, of course, is our mortal enemy, in the sense that not one of us humans, have enough time, nor can we buy more of it, as it isn’t a commodity, that is until the time machine is invented or biogenetics to extend the human lifespan!
So let’s take a look at the online gambling industry. Before cryptocurrency, casino or sportsbook players had limited choice with traditional fiat based payment methods to fund their online betting accounts. Now, cryptocurrency’s offer near real-time deposits, and more importantly, if your bet wins and you request a refund, withdrawals are made near instantly removing the pain point of having to wait days for a withdrawal to be processed.
However, while the usage of payment methods such as Bitcoin has removed a lot of friction from the deposit and withdrawals process, it’s fair to say that satisfaction levels fall short on new players creating betting accounts with operators. It’s too long, too many steps in a digital economy were satisfaction or the customer experience, is measured in the time it takes for a service provider to complete a customer's request.
Step forward the growth in ‘no registration casinos’ which allows the player to make instant deposits and play instantly. Pay and Play models shall continue to grow in market acceptance as they allow new players to on-board quickly to the casino platform and at the same time operators can still identify and verify players when they make a deposit, ensuring all regulatory compliance requirements have been and continue to be adhered.
Our belief at Finnplay is that this digital time metric shall be the measure of a prospective and existing player’s digital customer satisfaction levels and rating towards an iGaming brand. Therefore if operators don’t consider this as a central component of their customer experience strategy both at a platform and product marketing level, shall undoubtedly struggle to recruit and retain players in the digital gambling economy, where attention spans continue to spiral downwards and whereby gratification and satisfaction shall be measured in seconds, soon to be Nano seconds and not minutes.
If this article has inspired you to contemplate ‘time’ as a success metric and you wish to learn more about how Finnplay can help, then reach out to us today, don’t delay.Tags: Erkki, Gaming