Industry: Gaming, Hospitality & Entertainment
Company Size: 3,000 rooms, 95,000 square feet of gaming space, 38 table games, 10 poker tables, 17 F & B outlets, a spa, a showroom and a race and sports book.
Location: Las Vegas
Focus: Data Driven Marketing, Market Research & Business Intelligence
A large Las Vegas casino property with over 3,000 rooms was in a substandard market position and unable to make a large investment for an upgrade to get its product in alignment with its competitors. Response rates from the existing consumer analytics marketing program were significantly below industry standard, and revenue and profit driven by these campaigns were low. A high volume of the consumer database was inactive. Property systems and technology were archaic and limited with a minimal financial ability to invest in an upgrade.
An high value systems solution was put into place that allowed the ability to leverage maximum data for minimal cost. The RFM model for the property’s loyalty program and marketing program was evaluated. A competitive market analysis was conducted. A new RFM formula was developed that offered slightly more than competing properties to compensate for the lower product quality offered. Customers were re-segmented using multiple variables. An audit of offer tracking accuracy and breakage was conducted. An aggressive turnaround data-driven marketing strategy was developed that included improved results tracking methods and procedures to minimize offer breakage as well as consumer reactivation tactics.
A boost in analytics marketing revenue of 57% with a profit margin of 49%. An increase in overall casino revenue by 18%.
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