las vegas - a look behind the curtain of data
DESCRIPTION
This was a presentation a gave to the Puget Sound Research Foundation. The overview gave a look into the data the Las Vegas Visitors and Convention Authority leverages to better understand visitor behavior.TRANSCRIPT
What’s the big deal about Vegas?
How does Vegas think about owning market share?
Who goes there anyhow?
What do those people do there?
How do casinos leverage insight about their guests to make more money?
Ok, what are the big take-aways?
6.2 14.9 13.1
Las Vegas Amazon.com
Boeing
Gross Income
Fun Facts!
• 39,727,022 visitors• 17 of the 20 largest hotels in
the world• Nation’s 5th busiest airport• 14 implosions since 1993• 200,000 slot machines• 315 weddings a day
Caesar's Palace has used 2 million plus maraschino cherries, 11 thousand ounces of caviar, 2million ounces of tomato juice, and close to 600,000 ounces of vodka in a year's time.
How do casinos compete for market share?
AttractionLoyalty
Relationship
Market Research Summary
Most are coming to gamble
They tend to keep coming back
It’s all about having a good time…
They’re spontaneous and easily distracted.
It’s really hard to hold a captive audience…
There’s a big segment of higher end customers.
Slot machines are dominating.
What are the best games to play?
Casinos gamble too…
If everyone is losing money, how do they feel about their trip to Las Vegas?
We know….
People love Las Vegas,Why they’re visiting,How many times they visit, What they’re doing when they’re
here,
And, that they’re hard to control.
How do we use this market research data to increase revenue and loyalty?
A personal relationship is the stickiest thing on the planet.
Attraction
Loyalty
Relationship
Unparalleled luxury and service.
The loyalty systems behind the service
Calculating Theoretical Revenue
How long did they play?
What was the average bet?
What game were they playing? (house win %)
= Theoretical revenue metric
Once you’re tracking everything, behavioral segmentation is easy.
Theoretical revenue per
trip.
M-Life tier
Number of trips per year
Type of gaming preferred.
Show and concert
preferences
Show and concert
preferences
Comping transaction
history. Likes & Dislikes
Lifestyle preferences
Income potential
Macro transactional
history
Enhanced demographics
Major life events
Competitor Analysis
Internal External
You can play better defense…
Number of trips per year
Competitor Analysis
Theoretical revenue per
trip.These are our most valuable customers
We know they come every three months. Why don’t they have a trip on the books?
Our competitors are running their credit? Red alert!
Resonate with a customer ina meaningful way.
Transactional history
Type of gaming preferred.
Some people love to mash the buttons on a slot machine. If we identify a pattern of behavior, we can infer information about their personality. Slot machines are designed with different personalities in mind. There’s a reason they’re themed.
Marketing Offers
Offers are personalized for relevancy. Superstitious players get “luck” based offers that’ll expire fast to nurture a spontaneous response.
Find new gamblers…
Type of gaming preferred.
Lifestyle preferences
Build a profile of your most desired customer segments.
Append 3rd party data to identify commonalities with regards to demographics segments.
We found that high risk / income potential vocations correlated with our ideal gaming customers; Car Dealership Sales Managers, Debt Collection Agency owners, Real Estate Brokers, Day Traders. We worked with the convention sales department to pursue these industry gathering aggressively.
Other Marketing Opportunities.
Marketing Automation
Risk Profiling
Hospitality
The most important thing
Strategy Customer Experienc
e
Design
