Prior to joining TransAct Technologies, I spent 22 years at Xerox Corporation in a variety of technical, sales, and marketing roles. At the time of my departure, I was Worldwide Marketing Manager for Production Color Marketing. Talk about a dramatic shift in happy-hour conversation topics. I went from chatting about the impact of color printing versus traditional black and white to debating the customer retention benefits of offering slot players free play coupons versus contest entry tickets.
While the types of products we market and sell at TransAct are obviously different from those I was involved with at Xerox, there are certain core sales and marketing strategies that remain constant regardless of the product suite in question. Here are some fundamental tenets I’ve assembled over time to keep in mind as you market to your current and future casino customers:
1. People do business with people they know and trust
Are you making the right efforts to let your players get to know you? The comfort factor is huge when it comes to building a level of familiarity with your players. A monthly mailer simply isn’t enough to establish a solid trust relationship. Consider a strong multi-pronged communications plan that speaks to the player from the various media that you have in your portfolio – Facebook, Twitter, email, print etc. Let the player get to know you and their fellow players through pictures, updates, and offers.
2. Don’t expect your prospect to do all the work!
From a data and analytical standpoint, how well do you “know” your casino players? What does the data you have on hand say about their habits and trends? Before you extend an offer or promotion, take into consideration what you know about your players and what motivates them. Doing so allows you to create more relevant offers. More relevant offers = better redemption rates. Don’t expect your player to wade through a myriad of offers to find one that is right for them – extend a few highly-tuned, well-crafted offers instead.
3. Understand player pain points and address them with your offer
Be strong where your competition is not. Understanding your competition’s weak spots and putting yourself in the place of the player who has been playing with “the other guys” can help you make a compelling offer to the player. What strengths can you proclaim to the prospective player that will compel them to leave the competition and come over to your side of the fence?
4. 80% of success is just “showing up”
To put a twist on a common saying – repetition is the mother of retention. It’s true, perseverance really does pay off. Stay in front of your prospect by being methodical and diligent in your communications – one touch and gone is not going to win you a loyal player. Likewise, not staying in front of an existing customer can be detrimental as well. Implement a relationship marketing plan that includes regular, timely touch points for both prospective and current customers.
5. No doesn’t mean no, it just means you have not made the right offer yet
So keep fine-tuning, measuring results and churning out new offers to your prospects and customers. Not all the offers you create are going to hit a home run the first time at bat. Expect to go through several iterations of a particular offer or promotion before it starts to deliver the magnitude of response you’re seeking. Relevant, personal and timely offers can quickly turn a “no” into a “yes”.
Tracey Chernay, Executive Vice President, Casino, Gaming and Lottery is responsible for developing and executing TransAct’s global business strategies for TransAct’s Global Casino, Gaming and Lottery sales division. Ms. Chernay is responsible for managing and directing the Global Sales Team and the Epicentral® Software Development and Technical Team worldwide.