Thursday, 11 December 2014

Lotteries: Marketing and Management

Usually a lottery generates the bulk of business from the same set of players. This makes ‘repeat business’ the key to success in the lottery business. A satisfied player is worth minimum 10 times of his/her first purchase. This makes marketing and player satisfaction all the more important. Lets have a look at various marketing and management strategies to attract more players, and make them happy.
Offer them Big:
The prize money in the lottery is the biggest driver of sales factors. A bigger jackpot attracts a lot of people to fantasise about their dreams. And in turn they buy more tickets to increase their chances of winning. The examiner data shows the lottery saw sales to increase since the jackpot hit the mark of $325M. A huge winning amount makes a greater impact on the mind of people to try their luck in the ball of fortune.

Host events regularly:
A happy interaction with players increases the chance of the player becoming loyal as well as bringing in more potential players. Relationship marketing results in most loyal players. When a player participates in any event hosted by the lottery operator, there are chances that he will know more and be more satisfied with the interaction with other players in the event. It is well known that a delightful event can turn your players into promoters.


Give away freebies:
The airlines industry and its frequent flyer programmes are one of the best examples of rewarding customer’s loyalty. Similarly, a loyal player should never feel left out even he does not win anything from the lottery. Mark your regular and loyal players and give the freebies like free tickets or goodies etc. This will make them stay in your court even if they are not winning.

Upgrade with the time:
The lottery industry is also being digitize as is every other industry. Although it might take time to go complete paper-less, it will happen eventually. And if the lottery operator is not riding on latest technologies and the innovations, there is a big chance of losing the players to other lottery operators with better digital lottery distribution channels. A VisionCritical survey indicates that online lottery is the #1 emerging trend in US lottery industry with 16 % players willing to play online. With this in the mind, no lottery operations would like to be left behind in business just because of not adopting to the innovation and technology of the current time.

Reach out to the players if they can’t reach you:
If your loyal players are unable to go to the store and buy tickets, reach out to them and provide them such services where they don’t have to roam around for tickets. Provide them with digital delivery. The player should feel that decision to purchase your lottery was good. Expand your business with the help of satisfied players.

Promote at your best:
People believe in what they see regularly. Advertise and promote your brand as much as you can. Be extremely creative and show what you are best at. Show your players what makes you better than other lotteries. Better the show, greater the impact.

No comments:

Post a Comment