The period between the end of the Thanksgiving weekend and the start of the New Year’s holiday is traditionally one of the slowest periods in the casino industry. As such it is the ideal time for leadership to focus on the preparation of the property’s annual marketing plan. What better time to focus on the plan’s preparation than during a naturally slow period that precedes the New Year?
The importance of preparing the annual marketing plan must be underscored. First, the total sum of marketing and advertising activities can easily consume in excess of 20% of the property’s revenue. As such, there must be a plan in place that details how the casino will be marketed, which markets it will target and a forecast of the expected returns from those activities. The plan details realistic objectives and strategies that the casino will employ to achieve them and how much it will spend to reach those objectives..View Full Article Read More