Casino stocks dropped depressingly in 2008, but even in the despairing economy the casinos themselves were still trying to sell thrills, fun, excitement, non-stop action and “hot” slots. Those terms continued to run through much of their advertising. Hyperbole never had it so good.
Values in the Thalmann Gaming and Casino Investment Fund dropped from $12.28 in October 2007 to $2.78 on November 17, 2008, a 77 percent loss. That compares to the 5.74 percent loss that gamblers can expect on a roulette wheel, which probably offers the worst odds of any casino table game
The 2008 casino losses run counter to the traditional thinking that the gambling business is recession-resistant. Of course, today’s gambling industry is heavily integrated with hotel, resort and food operations, making it difficult for outsiders to see where the biggest decline is occurring.
Dice Table Excitement
Perhaps the most typical scene of VegasPlus in casino television commercials is a group of attractive women and men laughing, cheering and having a great time around a dice table. That’s probably because, as the Harrah’s Tunica website points out, dice tables normally attract “very gregarious” players. They generate the most interaction between players and the loudest cheers, as well as the loudest groans.
The dice table scene has become a casino advertising stereotype because although it is not always a jolly place, it comes closest to reflecting the fun and excitement that casinos try to market. One is less likely to find much excitement at the poker and roulette tables or along the long lines of slot machines that seem to simply mesmerize most players.
Nevertheless, casino ads and websites are filled with lines such as:
“The excitement stretches out across 75,374 square feet.” (Atlanta City Hilton.com)
“You can’t help but get swept away by the pulse-pounding excitement.” (Bally’s Atlantic City.com)
“We bring excitement to the table” on “the most thrilling gaming tables. (Harrah’s Tunica.com)
“Caesars Palace creates the ideal ambiance for an exciting evening of gaming.”
Non-Stop Action
The Atlantic City Hilton also promotes “non-stop action” and Harrah’s Tunica says “there’s never a dull moment on our lavishly decorated gaming areas!” Ameristar in Kansas City says “let the fun begin.” The Green Valley Ranch Casino.com refers to its “intimate in feel,” which apparently means something to some gamblers.
No casino, however, tops Trump in promoting excitement. The Trump casino website talks about “The Electricity. The Excitement” and “gaming that exhilarates.” It describes Pai Gow and poker as “exotic” and talks about “the thrills and chills of a baccarat or blackjack tournament.”
In their efforts to impress gamblers, casinos also stress big numbers. Trump trumpets its “nearly 80,000 square foot casino,” which apparently is a bit larger than the Atlantic City Hilton’s 75,374 square feet. Boulder Station boasts of its 8,000 square foot bingo hall. But do gamblers bring tape measures?
3000 Slots at Ameristar
Ameristar in Kansas City talks of its 3000 slots and video poker machines, edging Boulder Station’s 2,900 slot and video poker machines in Nevada and easily trumping Harrah’s 2000 in Tunica, Mississippi. But who’s counting beyond the few dozen a gambler is likely to use?
The casino companies today also heavily promote their hotel, entertainment and food offerings, since they are more likely to be treated as profit centers rather than the loss-leaders they once were.
Again, Trump shows the ways, promoting its “Trump lifestyle” and “unabashed luxury,” as well as “Dining that satisfies. Spas that soothe. Accommodations that inspire.”
Hot Slots and Loose Slots
For many reasons, casinos still tread lightly around the gambler’s chances of winning. The closest they seem to get is their promotion of “hot slots,” which sounds exciting, and “loose slots,” which convey some vague promise in gambler lingo. Harrah’s Tunica refers to its “big-money progressive slots” without saying whether that’s big money going in or coming out. Trump talks about “a lot of different ways to win at our slot machines.”
Bally’s Atlantic City says it “has your number,” which may be the most telling line of all.
Marketing a Business
Most of the research done for a marketing plan can be found in the situation analysis of a plansbook. A table of contents and executive summary typically start the book off. After the research has been completed, a creative strategy is developed. This article will discuss the research portion of a plansbook. The data collected in such a project is invaluable to a successful marketing campaign.
The Front of the Plansbook
An IMC is typically presented to a client in the form of a plansbook, and because these books are lengthy, they should always have a table of contents, allowing readers to easily navigate through various aspects of the plan. The table of contents should be specific and include sections and sub-sections.
If the IMC is to be presented to a client, it should contain an executive summary. This is a short synopsis for a busy executive who might not have time to read the entire proposal. The executive summary is a sales pitch of your campaign, highlighting its unique selling propositions: i.e., the creative strategy and why it is best for the company. Keep this summary to one page, and write it straightforwardly and consistently. Remember that executives don’t have time for a history lesson; they’re interested in what the creative campaign will do for them.
Situation Analysis and Major Research
The next section of the IMC is the situation analysis, and it can be broken down into five subcategories: industry information, client background, problem statement, target market, and competition. The situation analysis is where the research begins, and it’s the essential foundation on which the creative strategies and tactics are based. Whatever the reason for an IMC, the situation analysis makes the argument for creative marketing convincing.
Industry information is research obtained by identifying market opportunities. It’s areas where there are significant demand trends; where consumer needs are not being satisfied; and where the company can be competitive. Also include events that affect the industry, statistics; and use graphs to show the current state of the industry.
Another important task of researching the industry is to determine where the client stands in the said industry. The client background should state information about the business in relation to the industry in which it is targeting. Included could be interviews with employees or customers, news articles, and awards that the clients have achieved. With such information a relevant creative strategy can be established.
When the industry and client background research are concluded, the client’s marketing pitfalls will become apparent. A problem statement is a paragraph discussing the current state of the client’s marketing and what it lacks. This is the heart of the project—the reason why marketing is needed.
Now that the problem is clear, it’s time to identify the target markets. These are the people who are going to buy the product or service. The target market must be identified and segmented. The five ways of segmenting are by geography, demography, psychographics, behavior, and benefit. It’s important to support the proposed market with numbers in this section, including age groups, percentages, and sexes. Not only does the target market have to be pinpointed, it must be proven to exist.
The competition should be outlined, detailing key competitors in the industry. In addition, there should be a summary of the secondary competition. Such research is important, because it allows the product to be marketed against other known products with market share, allowing a niche to be established.
Benefits of a Marketing Strategy
A comprehensive plansbook is a vital part of a marketing campaign. Research obtained in the situation analysis is beneficial to a company whether done by a marketing agency or by an in-house marketing manager. From such research a creative strategy can be determined and implemented with carefully chosen tactics. Using this strategy will result in a comprehensive marketing campaign that will yield the results that a company expects when it invests in marketing.
