On a typical monthly casino mailing, that’s up to $3,500 in cash gets flushed down the drain.
Not sure how deliverable your casino database is? Let’s make you the hero with your CFO this month, and save you some money on your next mailing.
First, how did I come up with the number above?
Printing for 30K $0.18 each
Postage for 30K $0.26 each
Mailing Services $0.06 each
Average Cost Per Piece $0.50 each
Second, where did I get the 76.5% number from?
Third, the ugly truth
Multiply total cost per piece (.50 X 7,050) times the 23.5% that did not get delivered. This is how much money you can then be flushing down the drain that month: $3,525, which totals to $42,300 per year. This is high-value, low-hanging fruit.
Finally, the SOLUTION (and you become the HERO)
How hard is it to clean up your database BEFORE you mail? Not hard at all. As a start, you need to enlist your direct mail provider by cleaning up your database through NCOA quarterly updating. Seventeen percent (17%) of the US moves each year. The real trick is to get that data back into your player tracking system.
How much your direct mail provider will charge you for this always depends on the size of your database and if you want it uploaded back in to your system. It can typically range from $80-$1,800.
While they are scrubbing your list, have them run an off-property “near-duplicate” report to help you find the Mikes, Michaels, and other obvious duplicates.
Bonus ways to save even more
The 76.5% number above just includes errors in your address database. It does not take into consideration internal database maintenance practices you can be doing now:
Appropriately code all returned mail in your database so that you don’t continue to mail and waste resources. Make efforts internally to get correct information.
NO MAIL requests
ALWAYS respect your guests’ requests to be removed from your marketing distributions. THEY WILL STILL PLAY!
86’d client lists
You don’t want them in your property. DON’T INVITE THEM! Code your database appropriately. You can always change it if you have made amends with the previously barred guest.
Install procedures at point of intake to make sure duplicate accounts are not added. Ask questions …
~ Ask if they have ever visited before.
~ Ask if they have ever had a club card before.
~ If the same name appears, check the DOB.
~ If the same name and DOB appear, ask if they have recently moved.
Two people living in the same household may share one disposable income. Do they get separate offers or one offer together? Establish a policy and make it clearly known. Don’t waste resources — make a plan that works for your guests.
Bottom line, be sure you are not flushing money down the drain, when the “fix” is pretty simple.