Casino loyalty programs have long been seen as key tools to drive patron engagement and traffic growth, but today gaming enthusiasts are more informed than ever and must be communicated with through various methods of communication.
Casinos must use customer behavior data to create targeted and tailored offers to attract new players. They do so via various strategies, such as:
Precision Bonusing
Casino players want to feel valued for their patronage and that’s why loyalty programs are such an essential component of casino brands’ strategies to reach new audiences and build loyalty among existing patrons.
Finaccord’s market research firm estimates that more than 650 million consumers worldwide belong to at least one loyalty program – representing an enormous potential consumer spending amount.
Technological advancement has provided casinos with many innovative strategies for optimizing their loyalty programs. One such casino, mBit Casino, recently redesigned its rewards system so players could exchange CP, or Bitty Coins, for valuable merchandise and cash prizes – this marks an immense step forward for rewarding loyal customers by casino operatorss.
High-Aspirational Merchandise Rewards
Retaining customers costs more than acquiring new ones. A well-thought out player rewards program can foster loyalty, promote playfulness and help a casino stand out in the eyes of their VIP customers.
Merchandise rewards offer greater perceived value than cash and are proven to increase program participation. Products featuring aspirational brands like Michael Kors handbags or Breitling watches provide strong engagement while hastening loyalty life cycles. By working with third-party manufacturers like Rymax, this incentive can be offered at reduced costs to your property.
Sephora’s program is an example of an aspirational merchandise program that provides a sense of membership within an exclusive community. Such emotional benefits are more effective than typical cash-back offers that create short-term gains but quickly devalued by competitors. Utilizing merchandise-based incentives and loyalty events as ways of increasing revenue while rewarding VIP players with desirable items is an effective strategy for increasing revenue while simultaneously rewarding your VIP players with desirable merchandise.
Streamlined Services
Casino loyalty programs allow customers to earn rewards that they can redeem at the casino, from complimentary rooms and shows to food and drinks or high roller perks such as personal assistant services and dedicated limo transportation. To join one, visit a Rewards booth or ask an employee where it is located; to complete an application you will also need proof of identification.
Market research is essential in understanding which rewards your loyal players want and require, whether you are starting up a casino loyalty program from scratch or expanding an inherited one. With the right technology in place, market research can transform data into genuine loyalty experiences tailored to each customer and ultimately become more valuable than any perks you might offer in exchange for their business.
Personalized Rewards
Casinos should take advantage of data to enhance their loyalty programs, such as player demographics, purchase patterns and engagement levels to drive long-term revenue growth.
As an example, casinos often reward high rollers with free rooms, food and shows as an incentive to bring repeat visits. This is an effective way of rewarding them while driving repeated visits and maintaining return visits from players.
An alternative strategy involves merchandise rewards. Although freeplay can serve as an incentive, tangible items provide much greater motivation. By partnering with Rymax to offer brand name merchandise rewards at factory direct pricing, casinos can increase spend while creating an engaging loyalty story with their players and driving repeat visits as merchandise provides more incentives to return. Communicating the options to guests so they can select those which work best for them is the key step here.
