Coupons, Groupons and Daily Deals for Casinos – Which one works best?
In today’s economy it’s tougher than ever to acquire new players, re-activate old ones, and increase visitation to your casino. To stay competitive in today’s market, and to maintain and build your property’s “share of wallet” many casinos are anxiously trying to reinvent themselves, and evaluating new business development opportunities. So how do casinos find and develop new business in today’s fiercely competitive market? How do casinos retain their existing base without sacrificing the bottom line? And what is the best way to reactivate your existing base of customers who may be frequenting your competition?
One new tactic employed by businesses is the revolution of the “Daily Deal”. This recent phenomenon led by Groupon and Living Social has changed the buying process for budget conscience consumers. Many industries have adopted these models including the travel, restaurant, and salon and spa service industries. You can even buy a coupon for a discount sky-diving jump. So what they have proven is that with the right incentive, consumers are willing to try anything once.
With the overwhelming success of Groupon and Living Social, daily deal websites have popped up like wildflowers in the past two years. These sites offer a no-upfront cost advertising opportunity to businesses that are willing to provide discounted products or services to be sold on the daily deal website. They tend to focus on small businesses with small marketing budgets. Oftentimes, it’s the small business owner who is also the marketing director, the advertising manager, and the bean counter, so the opportunity to reach a wide audience of potentially new customers is appealing. […]