So you don’t have to attend more of “those meetings”
We’ve all been in that meeting.
Burning the midnight oil trying to address where the property has gone off course.
The GM is puzzled. The Vice President of Marketing is disappointed. The Operations team feels out of touch. Food & Beverage is bewildered. Human Resources reports morale is down.
Finance validates it all by showing margins are going negative.
Your small to medium-sized casino is facing increased competition from a larger resort casino with bigger budgets and tons of amenities.
The issue might be loss of revenue, shrinking margins, or dwindling market share.
Service benchmark results are dropping like an anvil. Team members sense the confusion.
Worst of all, guests are vanishing. The top players are seen at the competition more frequently, and the middle market is nowhere to the found.
As a leadership team, everyone is working harder, and everyone is feeling more baffled, mystified and stumped.
Casinos and casino markets are complex organisms that bob and weave like MMA fighters. The challenge of casino competition never stops.
Compete Like a Boss
Introducing Raving Competitive Strategies, a unique, multi-step review of competitive strategies created to help recover lost revenue, increase market share, and improve margins. Raving Competitive Strategies is a comprehensive program designed to help casino marketing teams apply best practices for a better return on marketing dollars.
Raving Competitive Strategies Delivers Three Powerful Results
- Understand your property through research and analysis
- Find your competitive niche
- Develop competitive strategies that regain revenue and market share
“At Raving, our research indicates that competitive issues are a leading concern, especially for small to medium-sized casinos,” said Deana Scott, Raving CEO.
“The goal of Raving Competitive Strategies is to evolve existing casino marketing programs into a powerful competitive strategy that will grow revenues while targeting the right guests at the right time,” Scott said.
“Competing in today’s casino environment by using gut reactions and intuition is risky. Once you understand where your property fits, you are better able to develop programs that use unique market niches to generate additional share of wallet against a competitor,” Scott added.
Raving has teamed up with Raving Partner Tom Osiecki, who knows a thing or two about regional casino competitive environments and strategies.
Tom Osiecki gained years of strategic competitive experience as a former corporate marketing executive for the Isle of Capri Casinos. “I earned an amazing education assisting up to 16 casinos experiencing competitive issues. One thing I came to understand is that every casino market is different, and every competitive challenge is unique,” Osiecki said.
That education grew as Osiecki spent years leading a regional casino company in New York facing heavy competition from category killer properties with extreme competitive advantages.
“Our competition had every amenity and massive budgets. While operating highly regulated, restricted properties, we had to dig deep to generate market share and understand the differences that made our properties appealing over large competitors,” Osiecki said.
Deliverables that Deliver
You’ll Know Where You Stand
Raving Competitive Strategies will review the overall market to ascertain a property’s position and review existing market analysis to understand share of market and share of wallet.
The availability of a wide selection of Raving Consulting analysis creates a clear path to decision making. The starting point is a market analysis and market share analysis. Understanding total markets and where a property stands in the market defines overall competitive strategies.
You’ll Know Your Strategy
Raving Competitive Strategies will review key existing company strategic documents and business plans to ascertain the present direction of the company and determine baseline criteria for the competitive strategy.
You’ll Know What You Are
Using research techniques, Raving Competitive Strategies will identify the key differentiators that create a competitive strategy.
The defining step in competitive strategy is to understand distinctive property brands. Knowing the key market differentiators that set casinos apart creates a competitive advantage.
This method helps reduce wasted, off-target spending and program execution. Brand position sets a clear direction for developing a strategy and allocating revenue and expense in the competitive landscape.
You’ll Know Your Niche
Raving Competitive Strategies will discover unique niches that define competitive strategies.
From there, properties can concentrate efforts on the niche that characterizes a competitive advantage.
Once a unique property niche is defined, properties can select the deliverables and key elements that offer an advantage over competitive properties.
You’ll Know Your Tactics
Once strategies have been developed, Raving will guide casino properties toward appropriate tactics. Tactics used in the battle against the opposition are varied and wide-ranging. The Raving team has deep experience in competitive markets and can help develop tactics that are effective and efficient.
A New Plan to Stop Category Killers Cold
Raving Competitive Strategies is a unique, multi-step program using research and analytics designed to help properties understand their competitive environment while applying best practices to regain revenue lost to larger, better funded competitors.
Understanding Brand and Market Position
Step one is to know where a property presently stands in the market and understand how a brand is perceived. Reviewing market research, analysis and strategic marketing documents will determine current strategies to understand future directions.
Drive a Wedge into the Competition with a New Market Niche
Every property has a competitive niche. Research and analysis will uncover advantages that can be applied to new competitive marketing strategies used as leverage against bigger, better funded competition.
Provide the Tactics to Compete
Raving Competitive Strategies will deliver solid, proven programs based on years of competitive experience. Using competitive niches, the tactics developed will help move the needle against larger competition.
To find out more about Raving Competitive Strategies, contact Amy Hergenrother, Raving’s VP of Business Development, at 775-329-7864 or [email protected].