03 Oct Casino Marketing for Millennials
The target generation for most commercials and marketing campaigns are for Millennials: the age group born between 1980 and 2000. This is because there are currently 80 million Millennials in the U.S making up one-fourth of the total population. This age group has an annual buying power of $200 billion and considered the most lucrative market. However, there are many reasons for conducting marketing research when it comes to targeting Millennials. Millennials differ significantly from Baby Boomers and Centennials in what they are looking for when it comes to any product or service. For some companies such as restaurants and fashion brands, this comes easy. Amongst a generation that plays games on their cell phones and tablets with people online and indulges in Airbnb destinations as their choice for a vacation: Casinos and Resorts have to rethink their marketing strategy.
Authentic content empowers Millennials. Millennials are spending around 25 hours or more on the internet each week, and they crave content driven media. They aren’t just hanging out on social media: they are scouring websites, blogs, and video content. Millennials are also sharing, liking, pinning, tweeting, snapping, forwarding and commenting on their findings to become empowered in this online community. 20 years ago, you may have seen an infomercial for a mattress where people would give their reviews of the mattress while laying on it. Baby Boomers trusted these strangers’ reviews and would more than likely purchase the moment it went on sale. Millennials are inspired to purchase by people they know online or strangers who share their interests on social networks. Taco Bell has successfully created a way to reach Millennials by implementing the “Millennial word of the week.” tactic where they incorporate lingo of their young consumers. Successful Casinos and Resorts have opened up communication on their website and social media so that people can leave reviews and have a conversation about them which drives millennials to them.
Millennials like to feel directly involved in their purchases, and traditional marketing does not cultivate this train of thought. Outbound marketing utilizes methods like magazine ads, direct mail campaigns, and radio spots. The Millennial consumer demands more personalized marketing. For example, a millennial will more than likely X-out of a pop-up ad without even reading it when visiting a website. Millennials will watch youtube video reviews, blogs, and forums instead of trusting a pop-up or a radio ad. Since outbound marketing is out, inbound marketing is on the rise. Millennials support businesses that are exhibiting leadership and expertise. The makeup industry is setting a perfect example of inbound marketing by promoting their products in makeup tutorial videos by makeup artists. For a Casino, including tutorials on poker strategies is an excellent example of how to implement inbound marketing to their millennial audience.
Have you seen that Lay’s brand chips roll out new flavors every year through a flavor contest? This is because Millennials are interested in having a say and become product co-creators. 42 percent of Millennials said they are interested in helping companies develop future products and services. Starbucks also used this tactic by creating a “design your cup” contest which gave each consumer the opportunity to submit their design. Casinos and Resorts often feature musical acts and creating an entertainment contest for millennials to be able to vote on what entertainment act they would like to see would prove successful.
Berning Marketing and Production knows the reasons for conducting marketing research and has created strategic marketing plans for Casinos and Resorts that have successfully helped them to become the top destinations on the gulf coast and beyond. Millennials are not ethically opposed to the concept of gambling, but they are not enthusiastic about most current casino games and are turned off by the layout of the traditional gaming floor. The casino industry mainstay demographic, Baby Boomers (ages 52-70), will eventually age-out and growth for the gaming industry will rely on their ability to adjust to generational preferences, especially the Millennials.
Only 14% of millennial gamers are in casino loyalty programs, but they are very loyal when they sign up. Keeping messaging simple and direct with less text and more relevant images has proven significant when reaching millennial consumers. For example, using text messaging instead of E-blasts. This plan can also benefit from giving rewards that evolve with more choices. When direct mail is integrated with email, social, and mobile channels, casino marketers will have the most flexibility to communicate relevant personalized messaging that attracts millennials to their property. This will allow each casino to gauge their success and modify their actual casino to become more successful amongst the Millennial generation. There are many reasons for conducting marketing research, but Berning Marketing knows that not everyone has the time to invest in this critical component of their marketing plan. If you need help finding reasons for conducting marketing research, call us today for a consultation!