Introducing our new VP of Operations, Lynette O’Connell
Please help me welcome Lynette as our newest Raver. She is a major addition to our advanced analytics, marketing, and loyalty teams. Plus, she’s a technology mastermind. As you can see, we’re pretty excited to have Lynette onboard and part of our leadership team.
In her role, she’ll be in the field assisting our clients to use their data to increase revenue. Her skills include deep-diving into the data to evaluate marketing and operations programs; pulling data using a large variety of diverse system software; and making strategic marketing decisions around that data with easy-to-utilize reports and visuals.
Her passion for learning has made her one of the industry’s top gaming analysts. Everything Lynette brings to our clients is based on this long-time passion; she’ll find a solution, guaranteed, just as she did when she was with Boyd, Caesars, IGT and VizExlorer. She’s a true advocate for our customers; giving them every opportunity to succeed. Her skills as a database marketing executive in gaming far exceed a typical analysis role from her 20 years of high-volume gaming operations experience in CRM, database marketing, analysis, and loyalty club development.
Needless to say, she fits right in with the Raving team with her humor and she makes the complicated easy.
PS – When Lynette was in junior high in Nebraska, she wanted to take wood shop to learn something new. She was told that she had to do home economics (even though she already knew how to cook and sew), she was a female, period, end of story. Keep in perspective that this was back in the early 1980s … not the 1950s. As a 13-year old, she appealed this on her own and still has the skills today that she learned from wood shop. She’s just as determined today to make sure our clients get exactly what they want and need.
We all know business intelligence will improve your marketing efforts. It can identify and focus on higher profit players, increase the accuracy of your forecasting, and measure the effect of your marketing programs. I want to spend this time to focus on how to identify the higher profit players.
Your best players might not be the ones with the biggest play, but rather those that play well and consistently. This includes those players that could become your best players. It makes sense to rank your players based on their value with you.
So where to start? Below are some basic guidelines. Implementing even one of these – if you are not currently using all of them – will make a difference in your marketing programs. As you add new strategy, make sure you are running test and control and measuring what is working best for your player database.
The message should align with where the player is in their lifecycle. You want to segment your marketing programs to meet the player where they are in their lifecycle with you so that your campaign and messaging are meaningful. Treat players in their first three trips like they are new, learning about your brand and property, and building loyalty. Talk to your loyal players like you have a relationship with them and know them. A player who is declining in play needs a different program and message including a change in reinvestment.
RFML (Recency, Frequency, Monetary, Location):
On top of the lifecycle and reinvestment, make sure you are including these key indicators to best segment your players:
Recency – When was the last time the customer was in your casino? Last 30 days, Last 1-3 months, last 3-6 months, etc. Moreover, to add another great layer, is this on par with their average trips, or are they inclining or declining in trips?
Frequency – Clearly how often does a customer play. Look at the averages within your database and identify how your trips group. i.e. 25% = 1-2 trips/month; 25% = 2-4 trips/month; 25% = 4-8 trips/month; 25% 8+
Monetary – What is their average spend in your casino? The best calculation would be to look at Net ADT is looking at a lower frequent customer and Net AMT if looking at a higher frequent customer. This goes to my point above that a good player that is consistent with a higher frequency can be better then a big spender that comes 1-2 times a month.
Location – Is the customer local, regional or national. This can impact the offer cadence and the offer strategy.
I would love to hear what is working for your property and what you are doing right. If you are interested in us evaluating your segmentation strategy or would like assistance from us to build one up for you, we can help.