It’s no secret we’re all looking at the most effective ways to maximise gaming revenue.
And we’d all like to know the “secret formula” for attracting more “high value” members to our venues, and attracting them more often.
We know these high value/low visitation gamers often play at five different venues on average – and if we could find a compelling reason for them to choose your venue, more often, it would have a massive impact on your bottom line.
Different venues tackle the issue different ways – some look to attract through high level service, some through rewards, some through a range of promotions and some through a combination of all three.
I personally think there is a place for all options, with the mix depending on your venue, your market and your end strategy, but I have never really come across a promotion with the ability for sustained attraction for gamers.
Under current legislation (especially in NSW) where you are restricted by the amount and type of prize you can offer, a gaming promotion really only assists in “holding” a player who is already at your venue. It does little to “attract” a gamer to come to your venue for that particular promotion, especially a high value gamer.
That’s why many clubs look to major member promotions – often giving away cars, cash and holidays – on a regular basis. It is a way to put some “wow” in a promotion with the “hope” that it will incentivise gamers to come to your venue more often.
Again, laws restrict venues from offering extra or bonus entries to tiered patrons and really rely on any revenue boost coming from the major draw date. Some venues offer minor weekly mini-draws in association with the major promo – but they usually have a relatively low return when it comes to leveraging that extra high value visitation.
But that may be about to change.
The Drop has joined forces with Australia’s leading “repetitive trade” marketing expert to present a very clever “member repetitive visitation promotion” that is based around members being invited to visit your club or casino each day for a free spin of an electronic wheel – for their chance to be in the draw for a $1 Million prize.
You may think you’ve seen this kind of promotion before – but this one is different in a lot of ways.
The creator of this concept, marketing guru, John Dwyer, has a long and very successful history in devising “repetitive trade” promotions for a number of different businesses …and with spectacular results. We’re talking about results that have doubled, tripled and even quadrupled trade in the promotional period.
His concepts are designed to stimulate what he calls an “avalanche response”, and I know from first-hand experience, that they certainly do.
For example, one of these repetitive trade promotions resulted in a massive 800,000 phone calls to a contest line in one week – a world record by the way!
Where this one is different, is that this concept has been specifically tailored for the club and casino industry with strategic emphasis on attracting high value members. And it is not a promotion that runs once a week – but can run every single day– and at those times that might suit your “VIP” members.
HIGH VALUE GAMERS ARE ATTRACTED BY ONE THING – MONEY!
Let’s face it – the lure of A MILLION DOLLAR PRIZE is a pretty powerful incentive for any member to start visiting your club more often – but when it can be tailored and targeted to incentivise high-value customers to visit your venue more often, instead of your competitors – then you will see REAL value.
Oh, and did I tell you that the promotion is fully measurable and controlled, every step of the way?
Let’s look what just a small increase could mean to your gaming revenue.
The first example is a small/medium club with a weekly gaming turnover of $2.5m and a 9.2% theoretical hold. If this promotion just increased your gaming revenue by 1% over a 20-week period – that would be an increase of $46,000 extra net gaming revenue. Or look at 2% over a 16-week promotional period – that would be a $73,600 boost to your bottom line.
|1%||2%||5%||1% x 20 wks||2% x 16 wks||5% x 16 wks|
Here’s a second example: a larger club with a $4 million weekly turnover and an 8.6% theoretical hold. 1% over a 16-week period shows a $55,040 increase and 2% results in $110,080.
|1%||2%||5%||1% x 16 wks||2% x 16 wks||5% x 16 wks|
And these are minimum projections that don’t take into account your major draw date which we know, that if managed properly, will more than pay for all the set up costs for a promotion of this sort.
The figures also don’t reflect any other potential incremental income from non-gaming member visitation and attraction – all just extra cream, and considerable cream at that.
You do the math for your club, and keep in mind John’s promotions have a track record of results in double and triple digit percentage figures.
If you’d like to know more about the MILLION DOLLAR WHEEL promotion and show you how to best tailor it to get the maximum return for your club, please don’t hesitate to contact me on 0419 954 999 or email me at firstname.lastname@example.org
Or visit our Stand 343 at the A.G.E. and see the Million Dollar Wheel in action.
MILLION DOLLAR WEBINAR
If you can’t make the AGE or would just like to know more now, John Dwyer will be hosting a 20 Minute webinar – any day over the next week at either 11am & 8pm – simply click here to register.
Article by Linda Joannides
Your Marketing Mentor and
Editor, The Drop