Before you can begin a journey, you must have a destination in mind. Sure, we’ve all jumped in the car and driven aimlessly on a journey of discovery, but usually if you’re going someplace, you are, well, going to some place. In Casino Marketing and Player Development, the same is true. In order to get somewhere, you have to know where you’re going.
So how does this relate to the title? Well, this is a blog about goal positioning, after all, and usually the biggest component of casino hosts’ goals is related to their players and the revenue those players generate. It follows, then, that finding the right players makes it easier to set the right goals. Right? Right.
Take a look at the profile of your hosts’ player lists. Is the average trip frequency pretty high? Is the average ADT on the higher end of your target range? Do you (and more importantly, do your hosts) know enough about these players to put faces to the names when you see them on the lists? If so, to some degree, this is a good thing because it means you know your players. But, if most of your coded players are known to you and your team, there are probably players in your database who are underserved and worthy of your hosts team’s attention. Assigning those players to your hosts instead will drive increased revenue.
Look next at your host team’s theoretical targets for the last few quarters. Has there been growth or are they struggling to achieve? If there has been some growth, from where did the growth come? Prospecting worthy new and unknown players is key, and I suspect that you have some hosts who are aces at finding and activating those players…and some who aren’t. Identifying the sources of additional revenues will allow you to target similar players and increase your team’s growth even more.
You can give those hosts who are skittish about prospecting a nudge in the right direction by providing prospective players for them. Do some digging and determine what kinds of players are in your database who offer some potential for increased visitation and/or play, then assign them to your hosts for contact and activation. We call them “players of interest,” and understanding the typical player of interest in your database (particularly in terms of potential worth to your property long term) is the first step in turning those folks into loyal patrons.
Look for players of high worth and low trip frequency first and foremost. Odds are they’re playing someplace else and your host team can steal a trip or two simply by establishing contact and starting to build a relationship with them. Scoop up players with a minimum of two trips in the recent past and whose ADT is promising. The specifics are going to be unique to your property and market, but don’t shoot too low.
Do you have some numbers in your head already? Good! Now decide how much activity the hosts have to generate from these players in order to have them coded. How many trips must they make in how much time? What must their ADT or cumulative theoretical or actual loss be in that time?
Once you’ve done that, you can set new theoretical targets for the team based on the activation of these prospect players and drive more revenue for your property. That is, after all, what your host team is supposed to do.
Harvest Trends can help you with this task, particularly if you are short on database resources. The HostMAPP dashboard and the Daily Action Plan will allow you to identify, assign and track the activity of these valuable guests from beginning to end. Our new host-dpecific DRM (named BoB, for BOok of Business) enables you to see in real time whether or not your hots are contacting the players of interest you’e assigned for them. It alerts you and your hosts every day to their success and pace to achieving the goals you’ve set for them.
Contact Amy for a 30-minute demo (or to ask questions) today!