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Posts Tagged ‘marketing’

4P’s of Marketing Play Part in Gambling

Wednesday, December 1st, 2010

One of the biggest elements of any business is the market research it does to better identify who is buying its products. It is clearly one of the most important research activities a business can do. The key to any business is to identify its customers, those who value its services and products, and finding out how to spur them to buy the service and product. Every first year marketing student has heard of the 4 P’s of marketing—product, placement, price and promotion. In order to use these though, companies need to know who their direct customers are. One way to do this is to study who is currently buying the product and that is exactly what gaming companies are doing now. The newest wave in the market is for casinos to keep track of what gamers are doing when they are in the casino. The market research here is that casinos can find out what demographics are playing what games. So for example, if the casino is running a poker special, they can hone in on who their average poke player is, and then market directly to them. In addition, they can keep those customers up on what is happening in poker gaming regarding scheduling and events.

The thing to remember about online gambling is that it still is a business. Though it is in the form of entertainment, it still runs by the same rules as a “normal” business. There are expenses, revenues, deficits and things to manage just like any other sector of business. This is how gambling operators look at their market. They know that to build a business they have to follow the norms of what other businesses do. Finding customers is one of the key elements of building business and more gaming companies are aware of this than ever. The good news is that more and more customers are entering the online gambling market. Plus with the pending legalization of gambling in the US, gaming companies expect an even bigger market to open up to them in coming months. The growth should be huge and time will tell how much gaming companies can benefit and how well they will build their own businesses.

Marketing in 2011 for Gaming Companies

Sunday, November 14th, 2010

There was a time when gamblers were new to the online market. They were dazzled by the limited possibilities and didn’t yet know where technology would bring them. It was hard for gaming companies because they too were still toying with the possibilities out there. The market had not yet leveled itself off. Sure, gaming companies were able to come up with good games, but they weren’t necessarily coming up with games that expanded the gaming market. The games were basic at best and offered a limited way of wagering. In fact, some of the first casinos didn’t even take “real” money. The technology needed for a real money account was not yet there. Soon though, the market took over and gaming companies changed- they suddenly were able to take on the real money accounts. They also were able to create the best games for gamers. No longer were people timid in asking for what they wanted either– they found it easy to demand what they wanted and take a chance at a company that offered it.

The good news though is that as technology grows, so do the capabilities companies can offer gamers. No longer do gamers have to settle. The possibilities are endless. So what does this mean for gambling companies in terms of marketing? No longer are gaming companies keeping their marketing efforts insulated in the gambling or gaming markets. Now, you can find mainstream advertisers venturing into the world of gambling and vice versa. More and more companies are accepting big name companies in terms of sponsorship dollars. You don’t have to wait for new companies anymore– there are plenty of them around to take care of whatever your preference at gambling is. Marketing is something that companies are doing in mass numbers and spending billions of dollars on. The market for gambling is now growing all over the world and it is no longer the top dollar countries that are benefiting. If you want a great casino, it isn’t going to take a whole lot to find it. Test your own luck at gaming and see for yourself how much is out there in terms of games and promotions. Things are going to continue getting better as the market grows and why shouldn’t you take advantage of that?

Gaming Companies get more Innovative

Friday, October 15th, 2010

One of the things that is quickly happening in the market of online gambling is that gaming companies are getting more innovative and dynamic with their promotional efforts and advertising. Gaming companies no longer rely on everyday marketing on TV and radio, or magazines and newspapers. The world of advertising has gotten much more complex than that and a lot of it revolves around the internet. Companies everywhere are moving to change things quickly. They want to capitalize on gaming, but have to think of new ways to do so. Recently the Ryder Cup 2010 showed proof of how different advertising is these days.

Betfair.com is a sports betting website that is probably at the very top of its game right now. The company takes wagers of all kinds on a wide variety of games and sporting events. If you like gaming, then you most likely have at one time or another placed a wager on the outcomes of sporting events. Betfair.com made waves recently when it decided to set birds of prey loose over audiences of the recent Ryder Cup. They set off eagles in their majesty to fly over the banners and golf participants in the event. Part of the purpose was to show their continued support for Team Europe in the competition. It was a sight to see the eagles take to the air and symbolize loyalty to one team. Betfair.com is hoping that it is a sign of how far the casino is willing to go to promote all big sporting events in the community. It already has taken in millions-worth of wagers on various top profile events. If you love online sports betting, then visit Betfair.com. The casino is sure to make it simple for gamers because of all the tools they offer in addition to just the lineup of events. You can read past performance records of teams and individual players at this casino. You also can use that information to tell you what may happen if you wager in certain ways for other events. Overall it is a premiere sports betting website that is sure to continue pushing the face of sports wagering, but also changing how online companies market and show support in the future.

Another Casino in Nevada Shuts its Doors

Thursday, April 1st, 2010

In olden days the Cal Neva Lodge was one of the most popular handouts for the Rat Pack. Sinatra, Sammy Davis Jr. and many others frequented the location, wanting to take a chance at the gambling hot-spot. Now things are changing. It seems that the recession got to even this landmark location and it closed down last Wednesday. The resort is owned by Canyon Capital Realty Advisors and the company announced that it would be closing the casino to look for a new third-party operator to handle the casino. In essence, what Canyon Capital did was cut all ties with Luna Gaming Tahoe.

The closing of Cal Neva Lodge is just another example of how problems have arisen due to the recession of 2008/2009. Casinos that once were strong and buzzing with excitement are now on the decline. Their patronage is slowing down considerably and making it difficult for the facilities to manage. Most problems began when the unemployment rate began to skyrocket. It caused potential and annual visitors to stop their trips to Las Vegas. Most people were forced to completely cut out their discretionary spending, in an effort to cover necessary bills.  A record number of two-income families, evolved into single- or no- income households. This is where much of the problems for Las Vegas began. Add to the issue the lowered home values and bursting credit bubble, and you have a recipe for financial disaster.

In the past year, things have not gotten much better. Operators are hopeful, but they know that the road to recovery for the city will be hard. The plan is to create specials and bonuses that attract more customers into the gambling hotspot. Many industry insiders believe that the market is turning around, but much slower than anticipated or hoped. It will take months, maybe years for Las Vegas to return to its old state of operations. Until then more casinos like the Cal Neva Lodge may be lost. It is a history of tradition that is being eliminated, but the economy is unforgiving. Only time will tell how long it will take to change things around and bring Las Vegas back to its old days of glory.