Hitting the Unknown Target
As we gear up to reopen the doors, how do we strategically target players based on what we believe will be the new normal? What does social distancing look like in our casino? How does this affect the outlets and amenities? These are just a few questions that everyone is asking. We live in a world that is driven by data and these answers are within the Player Development Teams grasp. How can they leverage data to answer these questions in relation to our VIPs? There are 3 main areas Player Development teams can focus on in preparation for the new normal.
The Low Hanging Fruit
Social distancing guidelines will be the main factor influencing how to reopen. These guidelines will minimize exposure and limit the number of games one would be able to play. We want to ensure our strongest and most loyal players have their first opportunity at them. In the process of targeting players, keeping the low hanging fruit in your back pocket is a Player Development standard. We use this as an opportunity to get across the finish line for revenue drivers and business recovery. These players are typically the ones that we know and speak to on a regular basis. The loyalty runs through their veins and now is the time to leverage this loyalty.
The phrase “Low Hanging Fruit” is typically defined as players that live within a close proximity of the property as well as, a high and stable worth value. Hosts are relationship driven minded people. They know these players as well as their own families. And as an extension of their families, the need to keep a pulse on where they stand through this crisis is part of leveraging that relationship. As the time comes to reopen the doors, these players need to be the area of focus.
Consistency vs Volatility
As we are aware player behavior can be all over the place. In the process of targeting players, focus on a player's consistency as this is more important than ever. What is meant by consistency? A player with the most stable recency, frequency and worth behaviors. If we are attempting to winnow the population, we want to be sure we are targeting clientele with the strongest player metric averages. Focusing on our top 30% consistent players would be a great launching point as you are rolling out your reopening strategy.
As you re-evaluate what the landscape will look like moving forward, just remember that you and everybody else are potentially hitting the reset button. This is the perfect time for some spring cleaning. Utilize historical data to reestablish relationships for the players that got away. This is a prime opportunity to reset and reestablish those defecting players. This also may be a good time to do a re-evaluation of coding thresholds or finding customers whose offer redemptions approach or exceed their out-of-pocket spend. As the industry begins to take on a new form, one of the things that every organization needs to do is prepare to be more fluid and agile throughout their reopening phases.