EvenBet: “When entering a new market, it is essential to fully immerse in the local culture”

Alexandra Voronetskaya and Julia Panina, CMO and head of product marketing at EvenBet, reflected on the key factors that should be taken into account when expanding a business’s operations to a different geographical area.

Exclusive interview.- Two experts from EvenBet Gaming, Alexandra Voronetskaya, CMO, and Julia Panina, head of product marketing, discuss the peculiarities of entering new markets, why email newsletters still work in the USA, the importance of local partnerships and why it is so important to pay special attention to business localisation.

What key factors should be considered when entering a new market in the igaming sector?

Alexandra Voronetskaya: Entering any market begins with analysis and understanding the environment: what is available here, and how is everything structured? Of course, the process starts with an analysis of political and economic factors. When a country is stable, that’s one thing; when it’s not, that’s another. Here is an interesting point: for our business, if a region is facing a difficult economic situation, it’s not always a bad thing. igaming is closely linked to the psychology of individual users at a specific moment in time. During a crisis, people often seek ways to compensate for negativity and stress, looking for positive emotions, including from entertainment industries—such as casual games on their phones, films, or outings to restaurants and casinos. Is this good or bad? It’s a borderline situation, but this context cannot be overlooked.

The second area that is very important to study is cultural characteristics, as in some cultures, for example, the idea of a perpetual celebration is ingrained, as it is in Latin America, while in others there may be a widespread sense of guilt. In my opinion, it is ideal if you can establish a team within your company that will focus on product development in the new market, and send these specialists to the market before the product launch to immerse themselves in the local happenings and truly understand what is going on. Based on that experience, you will subsequently be able to advocate for strategies effectively. Ideally, you should test the perception of the product through surveys (which can be quantitative or qualitative) or conduct in-depth interviews with local opinion leaders. You can also test the product through focus groups that are organised in that market.

All of this aims to gather feedback from the market and, based on that, develop an understanding of how you will operate there. But overall, I would emphasise focusing on the customer. By simply talking to the customer, you can obtain answers to all questions regarding the economic, political, historical, and cultural contexts. It is very important to understand who will be speaking to the customer to ensure that this initial screening is as comprehensive as possible.

Julia Panina: Firstly, it is important to understand whether igaming is regulated in the country where you are starting your business. Secondly, you need to take into account any marketing restrictions, such as in advertising and influencer activities. You must know exactly how you can promote yourself within the law. Thirdly, you should consider your budget and how long you can sustain yourself in this market without making a profit. In other words, for the first 2-3 years, you can hardly expect any return on investment or profit. It is also crucial to understand who your key competitors are, as you will need to align your budget primarily with theirs.

“Entering any market begins with analysis and understanding the environment”.

Alexandra Voronetskaya, CMO at EvenBet.

How do differences in legislation and regulations across various countries affect companies’ marketing strategies?

Julia Panina: The requirements for responsible gaming are quite stringent, particularly regarding the tools that must be integrated into the software to prevent gambling addiction. This is why each regulator has its specific requirements on this matter. Many require operators to conduct training and establish support centres, ensuring that there is always a phone number available for assistance (as is the case in the USA, for example). All of this impacts the marketing strategy. Operators must understand how and where they will communicate about responsible gaming. This, in turn, leads us to advertising and restrictions, which also fall under regulation. For instance, if advertising is prohibited at sporting events and you offer sports betting, you need to carefully consider how to attract people who attend matches. In this case, we see a limitation on marketing channels. Alternatively, if local legislation prohibits contracts with sports clubs, this immediately reduces the audience and the scope of the marketing channel. Consequently, the strategy must also adapt accordingly.

Alexandra Voronetskaya: The gaming industry is evolving very rapidly; it is flexible and changeable. The source of this volatility lies in regulation, and it is essential to keep a finger on the pulse, monitoring the news agenda to understand where we stand and what is happening with specific countries and regions regarding regulation. How deeply can we engage with the specific products we have? The second aspect is the creativity of the marketing and business development teams, which is directly linked to regulation. You always need to find a way out of a situation, even when there are many rules and barriers. This presents a unique communication challenge that must be addressed elegantly.

What market research methods do you use to assess the demand for the company’s products in different regions?

Alexandra Voronetskaya: Research can be either field-based or desk-based. The former involves going into the market and conducting interviews, while the latter entails gathering existing information and analysing it. Based on this data, you formulate hypotheses and subsequently develop a strategy. Typically, both methods are employed simultaneously. However, it is essential to continue this process even after entering the market to understand what is happening. Our team, for instance, has been working quite seriously for the past two years on measuring brand awareness levels. We recognise that competition in the gaming industry is increasing, and it is no longer just a competition of products but of brands and company reputation. At this stage, conducting brand awareness research is crucial. We conduct in-depth interviews and surveys. All these studies provide numerous insights, which we rely on as part of our communication marketing strategy.

How do you adapt your marketing approach to the various cultural characteristics of target markets?

Julia Panina: It is essential to fully immerse oneself in the culture. Companies entering a new market typically seek partners who live there. These individuals can explain the cultural code of the region: how gambling is perceived, what the appropriate tone of voice should be, which colour palettes are acceptable, and what musical themes are popular. Therefore, it should be someone from that locale. Sometimes, a company may look for an immigrant or a cultural expert from their own country who specialises in the region of interest—be it Asia, Latin America, etc. Such specialists are invited to the company to give lectures to the team, clarifying which ideas and images resonate in those countries. It is crucial to understand all the nuances—there are no trivial details. For instance, if a company needs to survey its audience and the questionnaire includes: “Please rate the quality of service from 1 to 10,” this is all well and good, but in some countries, the highest score might be 10, while in others, it could be 1. The company may simply be unaware of this! Moreover, any advertising imagery should be vetted by a local—someone who knows everything about that culture.

Additionally, when the company receives initial data and feedback after launch, this analysis should be conducted by a resident. Sometimes, a non-local may not fully grasp what was intended. Furthermore, any product-related queries are best clarified with locals. For example, in some countries, dark tones are generally not accepted, yet your product might be entirely black. Naturally, the product needs to be adapted. The same applies to sound elements and language. It is best to present everything to the end consumer who lives specifically in that country. Sometimes, even the names of buttons can confuse. Everything may be translated correctly, but if it feels unfamiliar, the user may not like it! This is why collaboration with local representatives is ongoing at all stages.

Alexandra Voronetskaya: EvenBet recently launched a new feature – Dealer Tips. We know that it will work for the Asian market because such things are popular there. When entering a particular market, it is important to be aware of these nuances. In Asia, for example, push marketing is also highly developed, where the brand is heavily emphasised – everything is bright, flashy, and large. This is a characteristic of the region, and if you want to resonate there, you need to take it into account.

I also like an example we encountered while working with the Latin American market: people there do not accept negative connotations, and we did not realise this immediately. The concept of “10 mistakes when launching a poker room” does not resonate there; instead, you need to focus on “10 steps to a successful business in gaming.” Latin Americans simply do not engage with the first topic. Only by shifting from negative connotations to positive ones were we able to connect with the audience.

Therefore, in markets that differ significantly from what you are accustomed to, it is essential to have a sort of local brand ambassador who can help you understand what is happening in that region’s market. This serves as a unique marketing channel through which you can present your product and convey your company’s values in the language of the local audience.

What marketing channels do you consider the most effective for promoting igaming products in new markets?

Alexandra Voronetskaya: You can’t say that when you enter a market, you have a magic pill that will make everything go super well and correctly. For example, in Poland, Facebook is an excellent channel. Many companies use it as a platform to build relationships with customers. However, for the USA, email is key. The costs for this channel are minimal for the company, but it not only generates leads, but also those leads convert at the level of personal meetings. It’s quite an amazing story. It all depends on how skillfully you present the content at each point of contact. If you are working in a B2B company, it is essential to consider two contexts: where a person is looking for work-related information and where they are personally, because, one way or another, people work with people, not with companies as such. These aspects can vary in each region, so no recipe will work the same way in every market. In some places, influencers are trusted, while in others, they are not liked. Yes, they are currently at the peak of their popularity and are quite expensive. This channel is so overheated that it is evident that changes will come soon. Therefore, if, for example, last year you could say: “Use influencers, and you will be happy,” this year I would say: “If you have enough budget and understand how to make this channel as effective as possible, then go for it, but I wouldn’t bet everything on it.

Julia Panina: There is currently a boom in the use of brand ambassadors, influencers, and streamers. With the rise of video content on platforms like TikTok, Twitch, and YouTube, many countries are seeking well-known personalities for promotion. For instance, in Brazil, even dancers have been considered to represent igaming industry brands. These aren’t just any bloggers but popular figures from unexpected fields. However, this strategy doesn’t work everywhere.

In Africa, for example, mobile penetration is not as high or stable, leading to different marketing approaches. Sometimes, simple roadside advertising is more effective; businesses paint roadside shacks in their brand colors, and the local audience responds positively to that. It’s important to consider local characteristics when planning advertising strategies.

In Latin America, sports are particularly popular, making advertising on jerseys and in stadiums very effective—provided it’s allowed. The budget also plays a significant role, as such initiatives require considerable financial investment. When Brazil announced it would start accepting regulation applications, the number of operators doubled in just three months. Many of these companies turned to streamers, bloggers, and celebrities, leading to a surge in income for these influencers.

At this point, igaming companies began to assess their budgets: whether they could afford such expenses or if they were willing to take the risk of investing large sums. Thus, each country has its specifics and channels. And everywhere, I reiterate, there are unique limitations. For example, in Brazil, a blogger in an advertisement by a blogger cannot claim that gambling contributes to financial prosperity. It’s crucial to keep all these factors in mind.

What are the main risks associated with entering new markets, and how can they be minimized?

Julia Panina: In some countries, physical presence is mandatory. For example, consider the situation with support in Latin America: in this region, people want to talk to other people! If they cannot call directly to complain about something (for instance, if they are unable to withdraw their winnings), they will not only leave but will also tell everyone else that it is a bad company. They enjoy interacting with people, so it is essential to provide them with that opportunity. This is something that needs to be understood. There can also be technical risks (in Africa, for example): for instance, poor internet connectivity or a website crash. In such cases, players will not care about the reasons why they cannot withdraw their money. Therefore, it is always necessary to have specialists on-site who can address these issues in the time zone where the business operates. In other words, it is impossible to run a business in Nigeria while supporting it from the USA. Time is money. If you do not resolve a problem quickly, you may lose a customer forever. Additionally, the gaming community is very well-connected: one mistake, and everyone knows about it. Trust is paramount here; it cannot be lost. It is crucial to understand what risks you may face and what is necessary to avoid them. To do this, you should analyze the market and assess what budget you will need to service it.

Alexandra Voronetskaya: Here, it is very important to have a team at the start that knows how to work with a comprehensive marketing strategy; this way, you will have a risk management component in place. In a competitive environment, a strategy for addressing risks should be an integral part of the overall strategy, and this needs to be considered right from the beginning. If you do not do this, you will still encounter these issues and end up spending more time and resources on problem-solving. Additionally, when entering new markets, it is crucial to build a reputation, which requires a significant investment of time, money, and effort.

Why is a comprehensive marketing strategy that includes risk management so important? Because you have very few opportunities to start from scratch. Therefore, it is better to calculate all risks and the strategy for managing them in advance.

How can partnerships with local players or influencers impact a company’s success in a new market?

Julia Panina: Partnerships with local players or influencers can directly connect you to your target audience, especially younger demographics. Video content is currently at its peak popularity; people want to see visuals, not just hear about products. Influencers are indeed the best tool for this, but several considerations arise.

Firstly, it is essential to continuously monitor the activities of influencers, as they must adhere to all the rules of engagement. Their behavior should not harm the brand’s reputation. It is crucial to clarify what is expected from the influencer, how they should conduct themselves, what they can say, and what they cannot.

Additionally, there is a risk that the influencer may simultaneously promote a competitor who has not yet obtained a license, which could negatively impact your reputation. Therefore, when utilizing this channel, it is important to remain aware of all the risks, which can sometimes be challenging to control.

For instance, when you place an ad on a website, you can ensure that all dimensions and colors are correct. However, how can you adjust the behavior of an influencer who is showcasing something live on TikTok? Each platform has its nuances.

Partnerships with local players or influencers can directly connect you to your target audience, especially younger demographics.

Julia Panina, head of product marketing at EvenBet.

What metrics do you use to evaluate the effectiveness of marketing campaigns in different countries?

Alexandra Voronetskaya: I don’t believe in ROMI within the framework of B2B marketing, PR, and brand marketing. In my opinion, anyone who claims that it can be calculated is frankly lying. You can calculate ROMI from a marketing perspective through return on investment – that’s true. You can also get ROMI if, for example, you have a digital campaign and the entire digital journey is digitized, and you clearly understand how the consumer behaved within that specific campaign, how much money you spent on it, how many leads you generated, and how many deals were closed. But even this metric won’t be entirely clean, as all the actions you take in PR and brand work are very stretched over time. Plus, there’s the period of closing deals and production until the project goes live, and if you overlay all these different types of activities on top of each other, it’s practically impossible to see a clear result.

We have developed a model for ourselves to assess effectiveness: we have metrics that work for individual exhibitions, and some metrics work for advertising campaigns. We compare performance and planned versus actual results monthly. According to our metrics, we can not only monitor ourselves but also see how the industry is performing as a whole to understand at what stage of the journey we are. Therefore, I would say that there isn’t a unique methodology – each company should develop its approach. We have our own story. That’s precisely why ROMI, which many companies rely on, is, in my opinion, just a pretty indicator to create an illusion.