We are fortunate in the casino industry to have access to tons of data about our players. Here are the five additional metrics to consider:
Visit The Casino
Predicting value is very difficult, if not impossible, especially when evaluating just one casino visit. Most databases are full of players with low frequency of casino visits and although casino visits are considered in the player evaluation, they are generally used to exclude players from receiving an offer rather than using it. as an opportunity to attract additional play.
The next step is to find out why people pay a visit to the casino in the first place. By understanding the motivation behind a visit to the casino, marketers can customize the offers based on the individual player. Is the casino visit for games, entertainment, dining, or a special occasion? This information can help us better understand the gambler on a casino visit and the overnight gambler.
Loss Of Tolerance And Pooling
We all know that our players have an amount of money that they are willing to spend or lose during a visit to the casino.
By understanding portfolio elasticity or loss tolerance, we can begin to recognize and reward players for their unique gambling habits, which means an increase in play per casino visit.
Using a loss tolerance scale, we can begin to build rollover models handed to a player while they are in the casino. For example: a player’s experience depends on whether the game works for or against them.
Once we start to understand casino visits and potential casino visits, along with the driving factor of a casino visit, we can begin to dig into the demographics.
Relationships / Influencers
If you’ve worked on the floor, you quickly discover the guests influencing the “regulars.” They are in charge of the self-imposed complaints committee. They are the ones who advocate for the casino or influence players to riot at another location. Once we identify the value of these individuals, we can avoid a rating that could send a group of players home.
Assessing a player’s total worth should be a consideration to ensure that we are not missing anything. Although you cannot change the investment in the player, it could allow us to significantly improve the personalization of the offer, which improves engagement and potentially increases visits. This can also help us maximize low occupancy days at the casino or bring retail revenue to other forms of entertainment such as restaurants.
Basically, we can have it all if we take the time to create a more complete gamer model.
Luck really has little to do with driving additional games in today’s competitive market. Casinos that understand your product and your data will improve revenue.
One last warning: don’t get lost in the numbers. Remember, we are talking about real people. The way we communicate the offer is as important as the offer itself. The magic happens when we can deliver the right offer at the right time. And a little luck can’t hurt.