Moving Forward

Kochan & Company

More Competition? Time To Get Competitive!

Nov 18th, 2011 • Category: Casino Marketing, Featured

It seems like the casino industry is expanding by leaps and bounds. Areas of the country with no casinos are scrambling to get them approved and open, while established markets are adding properties and fueling the fight for market share. Either way, 2012 is going to see your casino’s competition increasing. The challenge, then, is to keep your casino’s revenue from decreasing.

So….what’s the plan?

 

Add some sizzle to your customer loyalty programs

Your best players know you care. And you’re probably already working hard to keep them happy. So think about adding a tier or increasing amenities to your “next-to-highest” rollers; these are the people who aren’t receiving your best benefits yet, so other casinos’ offerings could really impact this target.

 

And consider adding some local partners, with off-premise deals, to add value to your program overall (think of the popularity of Groupon!). Every time someone gets a discount on an oil-change, or a free doughnut, or saves money at the hair salon, you’re building customer loyalty even when your customers are elsewhere.

 

 

Spice up old promotions and programs

What’s worked before? Take a look at your most popular and profitable promotions from the past, and re-introduce with a new twist or prize upgrade. Revisit your Seniors’ program – add a breakfast deal, or a seniors “happy hour” or a Seniors-Only Slot tournament to increase visits and participation. If you have a Frequent Diner program (and you should!), offer a prize drawing or contest for qualifying guests. Freshening up your successful programs gives your guests fresh reasons to visit.

 

 

Revisit your entertainment offerings

Of course, your “star power” name entertainment is going to generate new trial, and bringing in the “tried and true” acts again and again will increase visits from those fans….but that’s just a few nights a month. You’ve probably got a nice empty room the rest of the time, so why not plan some weekly events? You could book local bands on Thursdays (and let the band do the promoting). Or karaoke on Tuesdays — add a contest, and create some buzz. Try speed-dating, country line-dancing, dueling pianos, jazz….anything that will build traffic. Just be consistent, and make sure you tie the event to your card program in some way so you can track play and measure the event’s success.

 

 

Get a second opinion

A little research and a little perspective can go a long way in keeping a competitive edge. Base your plans on what you KNOW (through web and phone surveys, focus groups and on-site interviews) not what you think you know. Properties change…and so do your customers. And remember that it’s as important to talk to people who aren’t your customers as those who are. Ask your competitors’ customers what they think of your casino…then be prepared to act accordingly.

 

Challenge a marketing firm to bring fresh ideas, industry insights and proactive thinking to your property….along with a clear expectation for measurable results. Even a short-term partnership can reap benefits that will give you and edge over the competition.

 

 

Need more tips?  Got a question?  Ask Bob Kochan for a FREE consultation.

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