Making a wise investments and growing your small business is our business which is why we wanted to give you an insight into a growing virtual market: mobile trading.
Betfair is known as one of the largest sports betting exchanges in the world and since the provisions for online trading have grown so has the operator’s reach. Today Betfair’s trading app is one of the biggest in the world and members of the site are now able to choose from a range of resources to boost their profitability.
This move into a new market hasn’t been a simple transition but thanks to some in-house development and external brokering, the site is now an emerging force in the industry.
So what has Betfair done to make its trading app a success and what can you learn from it?
Diversification: Because Betfair didn’t start out as an investment and trading form (in the strict sense of the term) it’s had to enter a new market blind. However, thanks to relationships with industry experts this journey into the unknown has been a lot smoother. Indeed, with the joint development of mobile trading apps such as Taderline, MarketFeeder Pro and Fairbot, Betfair has been able to build a useful toolbox of mobile resources. Thus, if you want your business to grow then don’t be afraid to looking into connected markets and forge relationships with established players in order to expand your brand.
Quality: Since its inception Betfair has been known for its quality and this has transferred through to their mobile products. The trading apps are built by experts with real market knowledge and that’s the key to pleasing users. While you may not have the same sort of capital as a company such as Betfair, you can still make your products as good as they can be. Keep things simple, do it well and add functionality as your budget and resources grow.
Reputation: Without a reputation your business is worth nothing and Betfair has always worked hard to maintain its standing with its customers. Despite some knocks in the past (mainly related to legislation changes in various companies), Betfair has always redeemed its reputation with a continued commitment to quality and innovation. Very few small businesses will escape downswings so if you find your enterprise struggling then make sure you’re not afraid to change things up, offer something new and give customers something extra.