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GSN Games business model


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Nick Bogovich discussing GSN Games business model

Nick Bogovich discussing GSN Games business model

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  • 1. Monetizing in Social Casino & Skill Games MassTLC2014MobileSummit Nick Bogovich (@nbogovich) Executive Director, Mobile July 22, 2014
  • 2. o Two Models o Social Casino o Skill Games o Making The Most Of Your Opportunities Agenda 2
  • 3. 3 Two Models: Social Casino & Skill Games MassTLC 2014 Mobile Summit
  • 4. 4 GSN Games is a leadingproviderof socialcasinoand cash games 2013: Top 10 Grossing iPad app 2013: #2 skill gaming site
  • 5. GSN Casino 5 GSN Casino on iPad • Games: Slots, Video Bingo, Video Poker, Blackjack • Players buy and earn virtual currency to place bets in games of choice • Available on mobile, social and Product Overview
  • 6. GSN Cash Games 6 • Games: Card, Arcade, Strategy, Word, Game Shows • Players compete in practice & cash tournaments • Available on web and mobile web Product Overview
  • 7. Socialcasino,skillgames and gamblingare not the same 7 CONSIDERATION (entry fee) PRIZECHANCE Sweeps Gambling How to make sense of it all: o No prize = Social casino o Little or no chance = Skill games o Entry fee, chance & prize = Gambling
  • 8. 8 Making The Most Of Your Opportunities MassTLC 2014 Mobile Summit
  • 9. o The mobile landscape is crowded o There are over 1 million apps on iOS and Google Play o The odds of success are against you o 80% of apps don’t generate enough revenue to support a standalone business. 59% don’t even cover development costs. o If success is defined as your app’s profitability, how do you succeed? 9 How Do YouMake The Most Of YourOpportunities?
  • 10. o Before anything else, do your homework! Identify your vision, mission and corresponding strategies o Validate the business model – if you can’t figure it out on paper, you won’t figure it out after launch 10 Tip#1: Form an EffectiveProductStrategy
  • 11. o Spend ample time planning a UX that supports your app’s mission and strategies o Focus on the MVP: Minimum Viable Product 11 Tip#2: CarefullyManage BuildCosts
  • 12. o Be mindful of how your product will evolve o Prototype and test, early and often o “Look through the turn” – don’t be too short-sighted o Listen to your users! o Know what you know and what you don’t know o Play to your strengths; everything else can be outsourced o There’s a fine line between leading edge and bleeding edge o Keep 3rd parties honest 12 Tip#2: CarefullyManage BuildCosts
  • 13. o Cost-per-acquisition (CPA) is just as important as lifetime value (LTV) o LTV helps you measure the quality of your acquisition channels o The sooner you optimize your acquisition funnel, the quicker your business will grow 13 Tip #3: Understand your useracquisitionfunnel
  • 14. o “You never get a second chance to make a first impression.” o 26% of app downloads are used 1 time o 3 ways to keep users coming back 1. Optimize your acquisition spend 2. Effectively onboard users 3. Measure and improve your retention rates o Remove unnecessary transactional friction 14 Tip #4: Make a good firstimpression
  • 15. o Before launch, identify KPIs that represent success o How many DAUs do you expect? o What % of DAUs represent paying users? o What’s your target ARPPU? o Establish target values ahead of launch to better identify where to improve your product 15 Tip #5: Identify KPIs that representsuccess
  • 16. o Boost revenues or lower cost of sales or operating expenses to increase your profitability. o Be careful! Keeping costs low because you made the right decisions along the way is not the same as artificially cutting costs to maximize profitability. o Making the most of your opportunities involves more than just what drops to the bottom line. It requires proper planning. 16 The Bottom Line:How Does It AllAdd Up?
  • 17. Thanks for listening! 17 Contact Nick Bogovich | Executive Director, Mobile | @nbogovich