Inside Asian Gaming

inside asian gaming November 2016 20 “When social media gained a strong foothold, many referred to it as free. Lo and behold, now we realize it wasn’t so free – like public and media relations, it took the investment of time and effort.” you that you may fall short of revenue even before you look at your flash report. Conversely, if you go over that foot traffic number, you start counting the seconds before you can get your hands on that flash report because you just know it’s going to be great. In this scenario, foot traffic is the middle of the funnel – your leads and everyone who comes through the door who may or may not spend money. Marketing’s job is to develop a large enough audience (top of the funnel) to generate enough leads (middle or people coming in the door) so that operations can convert some or all into customers. If you’re measuring your marketing efforts purely in terms of revenue, you’re measuring it all wrong. You’re measuring the effort at the bottom of the funnel (the operations side) rather than at the top (which is where marketing builds the audience). So the question becomes how do you measure your efforts at the top of the funnel? ROI is a simple formula – net profit divided by total investment. Now, let’s think about a very simplified situation. Say you want to make $100 profit from each customer. Your analyst has reviewed headcounts, revenue, actual profit and much more. She tells you that for every 10 people that come into the casino, you make an average of $100 profit. Now you know you need 10 people to walk in the door in order to make $100. That means that each person that walks in the door is worth $10. Next, you know based on past marketing efforts that you need to talk to 10 people for one of them to walk in your door. Now, you realize you need 100 people in your audience (10 will walk in to give you that $100 total profit). You can now infer that each audience member is worth $1, and you have a point of reference to understand what you could spend to build the audience you need to generate the revenue you want, based on your reinvestment and marketing strategy. If you spend $100 for a total audience of 100 which nets you $100 profit … well, you may want to rethink that, but if you spend $50, you may have an acceptable ROI. From here, it’s easier to manage your ad budgets and reviewing web analytics suddenly has more of a story for you than just traffic. How many new visitors are you getting to your website (building your audience)? Are you tracking earned media placements in relation to traffic to your site in addition to the traffic you’re driving through e-mails, social and paid online media? Are you using unique URLs for your media efforts? LINKING EFFORTS TO THE BUSINESS There are a number of things you can measure in each PESO media category. However, it’s important to understand which ones are actually linked to your business: Paid – Depending on the tactics you use, you could look at social media ads and sponsored content and the ability to create traffic to CASINO MARKETING