LOST ALL THE MONEY AT THE CASINO!
But gaming customers are very different in one major respect.
Can casino owners more accurately identify and predict which of their regular customers will lose the most money?
How often will these customers visit?
How will they allocate their bets among slots and tables?
By targeting those players, can casinos follow up with a more effective direct marketing campaign?
The three researchers — marketing professors andand Sam K.
Hui, a marketing professor at Stern — say that the answer is an unqualified yes.
The data suggested, for example, that women devote more of their spending to slot machines than to table games like blackjack, and that men have a higher level of skill at the gaming tables than women.
Iyengar and Eliashberg suggested that more useful information could have been gathered if they had been given more specific when people spend all their money in casinos data.
For instance, they noted that better modeling of customer when people spend all their money in casinos might help hotel managers to more intelligently market the use of mini-bars or business centers, or allow car-rental firms to target extra-cost products like GPS units or satellite radios.
But it is the sheer size of the casino industry in the United States that makes it such a strong candidate for this kind of individualized predictive modeling, more commonly known as database marketing.
Americans spend more money on gaming than on trips to the cinema by a 10-1 ratio, and more money is lost during a typical casino visit than is spent in an average visit to a mall.
Unique aspects of the casino industry suggest that casino operators should be developing different tools for customer relationship management than, for example, mall operators — who analyze how much customers spend on a typical visit to a store and what products they purchased.
Through the use of gaming loyalty cards and other tools, casino executives have the ability to more closely track the performance of individual gamers.
Does the customer wager more on slot machines or at the tables?
You also have to look at the skill level.
You need a model for human beings.
It provided when people spend all their money in casinos authors with detailed information — gathered through the use of loyalty cards — on more than 1,500 customers who made a total of about 9,000 casino visits from December 2004 through April 2007.
The gaming company also offered age and gender information for about 400 of those customers.
Beyond that, they also urge additional research on casino promotional activities — such as complimentary hotel stays or cash-back awards — in order to see more a better sense of how marketing efforts affect high and low revenue gamblers differently.
In addition, they note that the customized data could help operators as they weigh how to better design when people spend all their money in casinos casino floor space to increase revenues, such as the use of environmental cues to encourage gambling or altering the ratio of table games to slot machines.
In future research, the authors note, they would like to examine more demographic data such as relationship status, home address, profession and education level to gain even more insights into gambling habits.
According to Iyengar, the research has implications in other industries.
The Wharton School, University of Pennsylvania, 13 May, 2009.
Knowledge Wharton 2009, May 13.
Is there a middle ground that will work for regulators and auto companies alike?
But many businesses, especially when people spend all their money in casinos burdened by legacy systems, still struggle to transform their operations to cater to the increasingly empowered digital customer.
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LOST ALL THE MONEY AT THE CASINO!
How Casinos Enable Gambling Addicts. Modern slot machines develop an unbreakable hold on many players—some of whom wind up losing their jobs, their families, and even, as in the case of Scott.
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