With the economic climate still trying to get back on its feet, businesses are finding these times of austerity extremely difficult. However, one industry which is surprisingly thriving and bucking the trend is the casino industry and more specifically the online casino industry with websites such as Bet Safe offering a wide range of services. Businesses can learn a lot from the casino and online casino industry and implementing the strategies used, could benefit businesses during today’s difficult financial climate.
Attract new customers and encourage customer loyalty:
The casino industry is extremely competitive and like businesses, casinos rely on repeat business to gain the upper hand on the competition. Casinos use marketing strategies to keep their customers entertained and entice new customers with promotions and discounts. These marketing strategies create the impression that something is always happening and keeps customers coming back for more whilst alluring new customers. This can be implemented into business such as, legal firms that could provide monthly offers or repeat business incentives on conveyance work.
Exciting the customer’s senses:
When entering a casino, your senses are overwhelmed and the design is such that you are drawn towards spending your money. By concentrating on the customer’s senses, it betters customer retention and is a way of engaging and drawing in customers. The senses or feelings that customers get in relation to your business are important as this will be the deciding factor in setting you apart from your rivals within crowded industries. By concentrating on your brand image and adding aspects to add to the customer experience will aid the growth of your business.
Accessibility is vital:
Casinos attract an extremely wide and varied demographic as they provide something for everyone with games ranging from strategic poker games to more relaxed slots. By providing other amenities within or near to the casino such as restaurants and drinks whilst you play, they ensure that when the customers do spend their money outside of the games, they are doing so within the establishment. Make sure to self-critique your business to see if you can offer any extra services or amenity that can separate you from your competitors.
Know your business’s end goal:
The end goal of a casino is to ensure that they keep their customers at the tables, slots, machines, bars and restaurants and use some psychological tactics in order to achieve this. Upon entering a casino you will notice that there are no clocks meaning that a customer’s concept of time is reduced and as the casino offers other services such as drinks and food, the customer stays for longer than anticipated. By providing complimentary products in your business, a customer can purchase everything they need under one roof. Customers are therefore helpfully guided into buying the accompanying or complimentary product with consumers who would normally shop at your competitors coming to your business for the complete experience.
Understand your market:
The art of up-selling is essential with casinos being designed around the customer and making them spend as much as possible both online and offline. Casino layouts are based around the consumer and their movements with each chair and table being carefully positioned for the customer. This usability factor keeps the consumer entertained and with each movement around the casino floor or online, they are guided towards another chance where the casino can sell them something. Understanding the business’s customer is vital and by concentrating on up-selling, means that your business will be able to boost its sales.
Casinos understand their clients and in doing so are able to offer them what they want and need as well as provide a wider, more complete service. Customer loyalty and retention is vital to the survival of any business and by implementing some of the above strategies, you could be on the way to putting your business back on track during these times of austerity.