10 Ways to Make Your Rewards Program More Successful
Casino player reward programs and the tools to identify and reward players have become the most important elements in casino marketing plans. Nevertheless, for most gaming operators, player reward program participation rates remain low relative to some of the most successful reward programs in the industry. Despite the importance of player reward programs, most operators fail to enroll the majority of players into their rewards program and give those players enough incentive to use their players club cards every time they place a wager.
When evaluating the success of player rewards programs, casinos often look at tracked or carded win as a measure of reward program effectiveness. Tracked win refers to gaming revenue that is generated by people using their reward cards while gaming. Tracked win tends to measure the usage pattern of the casino’s heaviest users (those people who visit most frequently and have the highest handle volumes). The tracked win rate refers to the ratio of tracked win to overall gaming win. Even so, most casinos’ tracked win rates are low, often hovering in the 25-35% range. Conversely, the most successful gaming companies, notably Harrah’s Entertainment and Station Casinos, have tracked win rates in excess of 80%. At the very least, a casino with a successful player rewards program should be enjoying tracked win rates in excess of 50%. Anything less indicates problems that may not be readily apparent to the gaming operator.View Full Article