Five Tips for Casinos Targeting Boomers in the Millennial Age
For many gaming marketers, the millennial generation remains a top priority. With their influence on fashion, electronics, and pop-culture, millennials seem to be taking the world by storm. However, saddled by debt, they lack spending power and disposable income. The reality is that we should be paying more attention to a group that is more secure and even more attractive today: Baby Boomers.
Baby Boomers—defined as anyone born between 1947 and 1964—currently control roughly 70% of the country’s disposable income and represented half of the 101 million visitors to American casinos in 2016. They’re more active, living longer, traveling and spending money, which is good news for the gaming industry. But as casinos continue to sprout up in new markets throughout the country, how do you entice this generation to travel to your property specifically?
Paul Gordon, Senior Vice President of Sales at Rymax, recently shared his expertise on appealing to the Boomer generation in the September edition of Casino Journal. “Player loyalty programs are critical to engaging and retaining players, as well as creating a distinction amongst properties,” he shares. By implementing a player loyalty program with rewards that Baby Boomers desire, you will see an increase in repeat business and an uptick in spending.
Based on Paul’s insight, we’ve compiled five tips below to keep in mind when targeting the Baby Boomer generation:
- Quality is key
This generation has an appreciation for life’s “finer things”, so products in rewards programs need to be highly aspirational, on-trend and have a high perceived value.
- Offer product variety
Keep in mind that “re-gifting” to their grandkids is important for many Boomers, so include video games, consoles, toys, etc. to appeal to them.
- Make it exclusive
Players appreciate exclusivity and VIP access, so hold mini events that give them trophy value gifts and access to management. This will also allow you to gain valuable feedback!
- Include Full Entertainment Experiences
Casinos are no longer just for gambling, they now offer additional services including nightlife, live events and performances, dining and shopping. Integrate these services into your rewards programs to stimulate spending.
- Don’t forget about your employees
Implement a comprehensive employee recognition program, too. The combination of an effective player loyalty program and a well-crafted employee incentive program will drive repeat business and empower Baby Boomers to spend more and spend often.