“It’s all about continually adjusting the amount, the frequency, combination, and targeting of all these strategies we deploy to know what’s the right mix. And quite frankly, I don’t believe we’ll ever be at a steady state.”
Three purposes of the talk:
- Introduction to Caesars Entertainment & Total Rewards Program
- Share challenges to better understand customer behavior
- Discuss tools to optimize marketing reinvestment
The Caesars network is wide and expansive – they have 52 global properties in seven countries and four continents. This gives an opportunity to really know about world markets. They have a number of different brands, all of which use the same loyalty rewards program. There are 40 million customers, and 80% of revenues is tracked in the loyalty rewards system.
The Marketing Optimization Challenges
- It is imperative to further customize marketing practices to match customer preferences.
- Are our marketing programs and offers driving incremental revenue?
- Better predicting customer behaviors will enable marketers to augment revenues and contain costs.
Tools to Optimize Marketing Reinvestment
Having the data points means that you can know what the customer prefers, down to what his favorite drink is. It’s important to know how well offers and events play out. Sometimes, they are profitable, but not incremental. They use a closed loop process to determine if an offer gives value.
The Marketing Optimization Process
- Hypothesize/predict
- Segment/test
- Marketing activities
- Customer activities
- Analyze
After analysis, they create a new hypothesis based on the acquired data in the most recent test. Marketers need to assess the form of reinvestment, by learning which strategies were successful, and what the right mix is.
Jeffrey Boorjian, Vice President, Marketing, Caesars Entertainment
Jeffrey Boorjian is currently the Vice President of Marketing and responsible for influencing customer behavior resulting in increased revenue and profitability for the world’s largest provider of branded casino entertainment, Caesars Entertainment (formerly Harrah’s Entertainment). Jeffrey has been with Caesars for over five years in marketing, previously working at multiple advertising and branding firms spearheading projects across diverse industries including hospitality, consumer goods, automotive and healthcare.