Brand Management
Gaming products are basically the same everywhere.
The environment where they reside is either
more or less desirable than their competitors,
and a function of capital investment. Value
is another key component of every casino brand.The
two most important components of a casino
brand are style and performance.
At the heart of
every branding formula lies a specific theme
which should also make a promise to your target
customers. By making that promise you create
an expectation. So it should be of no surprise
to you that the customers who respond simply
want that expectation fulfilled - every time.
Fulfilling it cements customer loyalty to
your brand. But fulfilling it is difficult
as it requires a precise combination of style
and performance – therefore, performance expectations
should be defined, taught and become part
of the standard operating procedures for every
employee and first introduced during the employee
orientation process.
When your brand
is consistently performed and promises fulfilled,
customer loyalty manifests itself through
an emotional connection that is personified
by your staff on every visit. Performance
is the most difficult component to compete
with. When competitors lose market share because
of their comparatively poor performance, they
often don’t acknowledge it because it means
they as managers may be doing a poor job of
meeting the expectations they created. All
too often, a popular remedy for their own
poor performance is to spend more promotional
dollars to get customers back which as most
of us know, is a very bad thing. It ultimately
erodes the profit margins of the entire market
as everyone moves to match the lower price
point set by the poor performers to protect
their market share.
A little foresight
can help you define desired style and performance
objectives that make up your brand. Hindsight
will tell you how successful you were and
what group you ultimately attracted because
the ones you want aren’t always the ones that
come back. If you can handle the reality,
ask your customers to define your brand. Your
brand is what 20% of your total customer base
says it is. If you don’t like who they are
or what you hear, you are faced with a huge
opportunity.
Buro Gaming, LLC
can easily identify opportunities in branding
and performance. We start by establishing
a profile of the customers who reside in your
better performing segments. Those profiles
can be analyzed and a model developed that
best represents the basis for their affinity
to your property and potential growth for
that segment. We can forecast growth for those
segments by determining how many more of those
customers are in the collective market. Revised
brand messages and brand specs are developed
that are specifically targeted for that group
along with revised performance standards for
your staff.
We can develop a model that serves as the
foundation for an aggressive marketing initiative
which highlights tactics to reach new customers
and woo them away from the competition. There
are a multitude of strategies and tactics
in branding. Let Buro Gaming, LLC help you
analyze those opportunities and refine a strategy
that ultimately translates into increased
market share and more bottom line dollars.