Tiger Woods and ROI in Gaming
Tiger Woods is a shining example of how casinos can generate a solid return on investment (ROI) from internal improvement programs aimed at boosting the property’s performance and profits.
Tiger Woods has spent hundreds of hours practicing to get his game to the level where it is today. He is the best golfer in the world, and sports experts predict he will be the first golf pro worth $1 billion. That is one amazing ROI from the effort he has put into the game. All casinos have to do is look at Tiger to see how to create their own strong ROI.
Following are some insights on Tiger Woods and ROI.
Focus On Advocacy. Casinos first should concentrate on turning guests into advocates for their property. Guest advocates will generate growth down the line. Advocacy is the way of the future.
Research Proves the Importance of Advocacy. Research published by Harvard University found that by tracking customer advocate levels, a business can arrive at a very high correlation to the future growth of the company. Researchers reported a correlation as high as 98 percent. In gaming, it is in the mid-80s, but that is still an amazing measurement tool. Advocacy has a high, measurable correlation to future growth.
Tiger Creates Fan Advocates. Tiger Woods is a fan advocate juggernaut. Tiger’s ROI comes from more than lots of practice and his reputation as a fierce competitor. He has a system that has created thousands of adoring fans. People stand five to eight deep just to see him putting on the practice green before a tournament round. You can’t get anywhere near him when he is on the driving range because there are so many people. And they follow him like a human tide after he tees off. Tiger knows these fan advocates demand his best effort and he gives it to them in spades. That contributes to the driving force that makes him so successful.
Give Casino Guests What They Demand. Casino guests demand an outstanding gaming experience. Give it to them in spades like Tiger and you will have your own driving force that will create ever increasing numbers of guest advocates. That will translate into growth and an ROI that can actually be measured.
What Can Casinos Do to Create Advocates? What are casinos doing to make sure people stand five to eight deep at their tables, even if their property isn’t the biggest or best in the area? What are casinos doing to make the gaming experience better today so they keep player excitement alive at their property even if the competition wins a few rounds?