By Tom Osiecki, Raving Partner, Advanced Operations and Marketing
Goliath blocks the sun.
You stand staring into the sun shining from behind golden mirrored hotel windows.
The buildings stretch out forever. Casino building, multiple hotels, golf courses, spas, tennis courts, restaurant complex, entertainment center, pools … even a wedding chapel.
You’re the VP of Marketing for a smaller competitor.
You think ... how are you going to compete against Goliath? Throw a rock?
Almost every market has its Goliath property. And yours is the competition.
Small to mid-sized properties compete in every possible setting. Your competition could be newer, closer to the market, or a gigantic, amenity-rich, resort destination. While the size of a Goliath property varies by market, the problem is the same.
How can small to mid-sized casinos compete against Goliath casinos that have bigger budgets, bigger staffs and bigger amenities?
In casino competitive strategy, there’s always a market you can make your own.
- Know What You Are … Know What to Become
The defining step in competitive strategy is to know your property. You should know the key market differentiators that set your casino apart and create a competitive advantage.
First step, understand your brand using surveys, guest/team member interactions, focus groups, competitive analysis, social media research, and your own observations. Once you understand your brand, you can select the deliverables and key elements that offer an advantage over the Goliath property.
There are millions of strategic variations that can make your property competitive against Goliath. Here are some of the most pertinent strategic niches: