Best Market Moves Done by Casino CEOs

If you can’t beat them, join them! At first, the emergence of online casinos seemed like a threat to physical casinos. But in recent years, it’s become increasingly clear that physical and online casinos have found a balance. After all, even physical casinos are now using technology found on online sites. So, how can casinos leverage these new platforms to better their reach and revenues?

• Bonuses and Rewards

The competitiveness in the casino industry begs for incentives. You must convince players that you are the best bet. And how better to do that than offering them bonuses and rewards? The following incentives have been beneficial:

• Signup bonuses: You can offer new players free credits or spins when they join the site,
• Deposit bonuses: You can offer free money to players when they add money to their accounts. Some operators match the deposits to a certain amount, while others offer a fixed fee. Depending on your audience, you can decide what best augurs with your site.
• Loyalty bonuses: Retaining clients is a challenging job. But you can increase your retention and lower player churn by appreciating loyal clients. 
• Referral bonuses: Client marketing is a great way to spread the word; people will believe their peers over companies. And when you offer players an incentive to share your site, you can look forward to more signups.

So, how do these bonuses attract clients? First, they help players reduce their playing capital which helps them boost their earning capacities. Secondly, they help them reduce their risk exposure as they wager less of their capital and more of the bonus. These perks encourage them to sign up and play on a site. And to attract even more players, you can offer ongoing promotions so players keep coming back. Of course, you should have reasonable wagering requirements that keep you from losing money while ensuring players get a good deal. It’s a balance!

• Corporate Social Responsibility

What are casinos often known for? If you look at most perceptions, they are not entirely nice. People believe that the house always wins and that casinos are only after money. This attitude can threaten your marketing efforts as players may view you suspiciously.

A great way to change this perception is to engage in social contributions targeting issues people care about. Some common causes are combating adverse climatic changes, easing access to better schools, and improving healthcare. You can also introduce programs addressing problem gambling to give back to the community.

Why do such programs matter?

• They show that you care about the community, which helps players relate to your cause,

• They attract big spenders who care about philanthropy, widening your audience, and

• They help you build a positive CSR profile which builds your reputation.

You can get more out of these efforts by partnering with players and the local communities. When people participate in such positive changes, they often embrace the organization’s goals even more.

• Market Segmentation

Do you know your clients? Any CEO must know their target market. You should know things such as:

• Who are they? What do they make? What are their interests?

• How much money do they spend on casinos?

• How much time do they spend on games?

Such attributes help you understand your buyer personas even more. And this enables you to launch games and marketing efforts that relate to their needs. Else, you will launch marketing campaigns that do not have positive results.

Once you have your buyer personas down to an art, the next step is to launch marketing campaigns through:

• SEO marketing,

• Paid ads on search engines and social media platforms, and

• Email marketing.

Since you have already segmented your audience, your ads will perform much better, and you can incur less ad spending with higher engagement!