Casinos are a place to bet money on chance and often offer a variety of other amenities. They may be glitzy with stage shows and dramatic scenery, but they also have less-lush offerings like restaurants and free drinks that draw people in and keep them coming back.
Whether they’re counting winnings in the money room or comparing statistics with investment banks, it’s not hard to see that casinos are a cutthroat industry. The most successful ones can make a bundle, but they have to compete with other casinos, non-gambling resorts, on-line gambling and an illegal gambling business that dwarfs the legal one.
The sunk cost fallacy is alive and well in casinos. Losing bets don’t sting as much when you are betting with tokens instead of actual cash and can rack up points to earn free meals and hotel rooms. Then there’s the euphoric atmosphere that’s created by pounding music, flashing lights and the sound of coins clinking. The joyous environment, coupled with the desire to win, can easily lead to addiction.
Understanding your casino audience’s motivations is the key to your marketing strategy. Knowing what job they’re “hiring” you for will help you craft messaging and promotions that speak to their true needs. For example, a group of women on a bachelorette party could be looking for a great mix of gaming, food and drink, and entertainment. Alternatively, they could be in town for a conference and want flexible meeting space with quick and easy logistics.