The Raving Next Conference may be over, but now is the time to start implementing key insights and takeaways learned from industry leaders. Our very own VP of Casino Services & RECON Systems Tara Ezzell-Clark attended, not only to remain up-to-date on Indian Gaming Analytics & Marketing, but also to represent Red Circle as a featured speaker on player reinvestment in today’s competitive and entitled market.
This hot topic is one many of us discuss with our teams when considering how to set goals and evaluate performance against the overall objective. Targets are needed to measure success, but what is considered a “normal” rate, how is it measured, and what factors directly influence metrics?
The conversation doesn’t stop there — with so many methods to reach players, what is the best way to reward and increase loyalty and trips, and how do we accurately align specific purposes/goals with our reinvestment efforts?
If you were unable to attend the conference or be present for Tara’s discussion, we’ve included some key highlights and takeaways:
Definitions of reinvestment can vary — e.g., overall, player by tactic (direct mail), etc. It's imperative to set reinvestment models and goals for your property accompanied with an ongoing system of measurement, and to ensure the team understands and is working toward that same objective. Each property and market will have their unique player profile, competitive set, and business goals, further stressing the importance of each property having a tailored reinvestment plan.
Once reinvestment goals are defined, work toward creating a team understanding of what those goals are, how the tactics chosen affect those goals, and how they will be measured. This is key to secure a successful result.
Start simple and monitor efforts closely while allowing time for thorough analysis to make informed decisions on if adjustment to initiatives is necessary. As traction is gained, build complexity over time, while continuing to measure performance.
Not only is Red Circle experienced in rising trends in Gaming Analytics & Marketing, including those specific to player reinvestment, but we work closely with our clients to help create targeted goals and initiatives tailored specifically to their property.
Ready to chat? Contact Walter Boyd at 405-585-9028 or at firstname.lastname@example.org.