In today’s highly competitive world, attracting new customers and retaining your existing customer base is a challenge. Entertainment is one area where you can stand out and be creative and unique. It is also very misunderstood, confusing, and tricky, and can be expensive. It’s the one place where you can really make a huge difference with your brand.
Entertainment, many times, is given a back seat to all the other promotions and budgets. It is probably one of the most misused and misunderstood programs in casinos today. Think about what your casino environment would be like without music and entertainment.
The temptation is to book artists that have very current or recognizable names. These are the entertainers that you notice on social media, see on TV, and hear on various radio stations. These artists are in higher demand and consequently cost a lot more money. Many times, they are not even available to casinos because of the venue size and promoter-based tours that are involved, like LiveNation.
The next temptation is to book artists that you (the casino talent buyer) are more familiar with or grew up listening to. This can work sometimes, but that is not the best way to approach your program and casino needs. The key is to find artists that are going to appeal to your customer base. Each segment of your customer base has musical tastes, typically depending on when they went to high school and college since this is when most people regularly spend a lot of time in their lives listening to music and going to concerts.
Catering to each segment of your customer base is important because you need to be attentive to each demographic. There is a lot of research that goes into determining the artists you are going to consider, and this is a good place to start.
Finding the artists that can distinguish your casino from the other casinos in your region sounds easy. Just do some research and book the entertainment. However, that is not the case.
In today’s economy, combined with the need to be financially accountable, one must be very aware of what an artist’s real price is and what kind of return on your investment (ROI) you can expect. This includes not only your ticket sales but also customer satisfaction, floor play, and the other incremental resources you have on your property that drive the bottom line.
It is essential to understand the value that entertainment creates for your property. All those other departments benefit from a great show, so make sure the credit gets placed accordingly. Your accounting people are very aware of your (entertainment) line item. Sometimes, they tend to think of entertainment as a separate expenditure and the cash from ticket sales as the only revenue generated. You also need to understand your region, the radius around your property, and what is going on both inside and outside your radius, but it should be close enough to take advantage of.
Where your players club comes into play
If you currently have a 1200-seat showroom or multipurpose room where you hold your concerts, you know how it can look when you are half-empty, and you haven’t sold enough tickets to even come close to breaking even. Each one of those “comped” seats has a value. The Average Daily Theoretical (ADT) gives a value to each of your players, so depending on the level of play, that seat may be worth anywhere from $50 – $500. If your entertainment is dialed into your player database properly, those people will come to your show, and that “free” ticket is worth considerably more when your customer comes in early or stays late to play.
Great entertainment will give your property a real edge and status in your region
Imagine the impact of being the first to book the well-known psychic Theresa Caputo or Tyler Henry. Or to be the first on board for the trend of branded game shows like Wheel Of Fortune or The Price Is Right Live. Think about the impact of having American Idol winner Iam Tongi or Cesar Millan, The Dog Whisperer, at your property. Or what about the hot new country artist with a number-one song, like Shaboozy or Zach Top? The packages that are being put together by some creative agencies include grouping together eighties rock acts. These packages bring several well-known older stars to your property for a more reasonable price point. These are surefire winners.
The choices out there today for entertainment and concerts are unlimited
The challenge is budgets, routing, and days of the week. Just like your internal challenges with staffing, artists are having the same issues keeping crew people and the expenses that come with travel, bus and truck rentals, and drivers.
There are always some hits and misses, but if you don’t “look outside the box” and get creative and aggressive, where does that leave your brand and your program? A consistent and solid entertainment program that can be focused on your different demographics will be a winner every time.
