It is ironic that last week's blog centered around my love of all things Apple. A brand for which I am a cult follower. This week in class we discussed those consumers like me, who blindly followed a brand regardless of trial and tribulation, success or failure. The discussion of cult brands intrigued me and led me to read up more about cult branding and how to enable ANY brand to become a cult brand.
As someone who is actively trying to enter the marketing world, specifically casino marketing, I am eager to take the knowledge and information that I garner from class and translate it to real life strategies. In cities such as Las Vegas, Reno, and Atlantic City casino options are many and "whales" (high limit gamblers) have many choices were to gamble. Like the rare mammal they are named after, the amount of true whales in the world is limited. Yet there are some whales that will only play a specific game, at a specific casino, with a specific dealer. Some would assume that the choice of casino, game, or dealer was because the whale had routinely won at that property under those circumstances. That is not the case.
In my quest for more information, I came across a graphic that I think describes me as a cult follower so I have included it here and will relate a few to casino whales.
Rule 1) "Consumers want to be a part of a group that's different." - Gambler-created casino forums and websites appeal to the need of the average gambler to reach the coveted status of "whale".with their own executive casino host. They discuss tips, tricks, and short cuts to that elite status. Comped prizefight tickets, complimentary five star stays around the world, free play money, and yacht cruises through the Greek Isles to name a few are just some of the standard offerings for whales.
Rule 3) "Cult brands sell lifestyles." Las Vegas is all shining lights, fluffy interiors, and grit. Arrive at the airport in your casino's private jet courtesy of your casino host. A pristine limo of your preference waiting patiently to escort you anywhere around the city. This weekend, the 5 star villa that houses 20? Yours. Whales are extremely motivated to come and gamble, simply because the perks outweigh the costs (in their eyes.)
Rule 7) "Cult brands promote personal freedom and draw power from their enemies." A popular incentive to international whales in the early 2000's was a discount on their losses. A whale from Dubai who lost $250,000 would be entitled to the casino's standard international whale discount. Say that discount was 15% , the international whale would only be responsible for $212,500. A domestic whale in the same time period could lose $500,000, He was responsible for the full $500,000. A well-known casino host, Steve Cyr was the first to exploit this flaw. By simply offering domestic whales the same comps offered to international whales he was able to lure some cult brand followers away from their casino of choice to his employer. Casino's can't see their money walking out the door and not implement a change. As a result, discounts on losses is perk that is now offered to all whales regardless of their country of origin.
In an era where competition is stiff and consumers can be fair-weather, it has become increasingly crucial to a business's bottom line to retain their current customer base. It is easier to retain an existing customer than to find a new one.
Graphic obtained from: http://cultbranding.com/ceo/seven-rules-of-cult-brands/
Information about Steve Cyr, Casino Hosting & Whales: Whale Hunt in the Desert by Deke Castleman
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