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Six Ways to Grow Player Revenue in a Fiercely Competitive Environment

Player Revenue
Posted on May 7, 2015 in Casino Marketing Comments

With consumer spending down and gaming industry competition up, many casino operators are finding that the tactics and techniques that have worked for years no longer seem to be increasing player revenue. Has it become more challenging to capture the attention of your target market? It may be time to rethink your approach and begin investing some time, resources and creative thinking to spark your next growth spurt. Following these tips can help you stay ahead of your rivals despite a strained economy and saturated marketplace.

1.  Invest in aggressive player development departments. To jumpstart growth and build both revenue and market share, enlist your player development staff to create player appreciation events. Use personalized campaigns to target your inactive premium level players and any defecting customers. It’s relatively inexpensive, and since the results can be measured in as little as a few weeks, there’s not a lot of risk. Personal touches are powerful loyalty builders, and your property can use the slower midweek space to lavish benefits on these player segments.

2. Research your better players. It’s important to understand what keeps bringing them back, and it’s helpful to know what it would take to bring them in more often - especially since it’s a safe bet they’re sharing their gambling dollars with your competition. You may be surprised how few of them are driven solely by comps. Sometimes they just like to feel “safe” and the difference can be your entertainment, dining options, or even a favorite server or dealer.

3. Step back and take a fresh look at your brand positioning relative to your competition. It’s important that your message and services are different.

Your brand needs these three components to stand out:

a.    Uniqueness from your competition in the market
b.    Relevance to the gambler audience you want to attract
c.    Clearly defined service and product benefits you can deliver on

A great position defines your brand so precisely that it simultaneously defines you from your competition. We once ran billboards that read:

                  “Sure you could earn a comp someplace else,
                      but then you’d actually have to eat there!”

                                                   or

                        “Nowadays every casino has a theme,
                                     Ours is gambling!”

Our client indisputably offered both the best dining and gaming differentiation in all categories. Understanding the market starts with thoroughly understanding your players and casino.

4. Use social and mobile media to accelerate your brand exposure. Mobile apps and websites can deliver clear calls-to-action considerably faster than mail and more personally than advertising. Not only does it keep your customers informed about coming attractions, but the applications give players instant point redemption, event registration, offer redemptions and more.

One of our regional casino clients did away with mailers entirely in dealing with their most important gamblers. The same information was delivered instantaneously through applications. They drew higher response rates, eliminated print and postage expenses, and could be tracked instantaneously. Granted, we tested this shift prior to making wholesale changes. I’d recommend you proceed cautiously as to avoid disenfranchising existing players who prefer traditional mail. Also, consider the benefits of geo-fencing, which is emerging as a powerful tool to reach gamblers precisely when they’re most susceptible to your message.

5. Plan mass-market events that support your position and attract new players with big purses. Tournaments targeted at slot and table players can be very effective. Events should be designed to entice the three big markets: past players, current players, and prospects who gamble with your competitors.

6. Prospect to ensure a future with fresh players who will counter those you may lose to competitors or strains in the economy. Fish for new players using third-party databases with specific player information. Big data enhancements can increase targeting accuracy and response, but beware of the tendency to over-reward, as creating unrealistic future expectations is ultimately damaging to the brand.

While each of these strategies, in the right circumstances, can be a powerful revenue builder, the optimal choices for your casino will depend upon your understanding of the customers you want to attract. Successful casinos continually reinvent themselves by talking to their target customers and adapting their processes, products and player development strategies to meet players’ ever-changing needs.

At Marketing Results, we lead in database services with a proven ability to convert casino data into loyal, repeat players. When you are ready to attract and retain the best players in your region, talk to us to find out more.

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