How to Grow a Casino Using Demographics and Other Marketing Data
Casinos combine 2 aspects that people are most excited about — entertainment and money. They are successful because they deliver a unique experience that draws in a diversified crowd. This makes the business model sustainable. Casinos need to be able to identify and target the right people for their business. Demographics are a great starting point, but they need to be supplemented with other marketing data like pain points, wants and needs.
As a result, focusing on gaming demographics alone is not enough to grow your casino. It is important to have a holistic approach that includes dining, entertainment and other amenities as well. This is especially true for casinos that want to promote themselves as a place for events and group business.
Whether it is a weekend bus trip for your grandmother, or a bachelorette party for your friends, casinos need to focus on attracting the right guests and driving them to their property. This requires a deeper understanding of the audience beyond their age, income, and education.
Aside from a strong foundation in gambling and hospitality, casinos also need to understand the business model and have a good grasp of what their competitive advantage is. The best casinos know that it is not simply luck or chance that determines their profitability, but rather a combination of several factors including game selection, player skill and the house edge.
Another thing to keep in mind is that casinos are not charitable organizations that give away free money. Each game in a casino has an expected profit or a mathematical expectancy, and it is very rare for a patron to win more than they spend. Casinos know this and use their competitive advantage to lure big bettors with free spectacular entertainment, hotel rooms, limousine transportation or other inducements.