What can Entrepreneurs Learn From the Casino Industry?

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If you’re a budding entrepreneur, chances are that you’re constantly looking to gain more insight into how to succeed from studying the world around you. Opportunities to expand your knowledge are everywhere, and often unexpected. This is why today we look at one of the world’s most successful industries – the casino industry, to see what lessons can be learnt from everywhere from the Bellagio, to online casinos like Caesars Casino.

Customer loyalty pays dividends

You’ve probably noticed that casinos do all they can to earn customer loyalty. They’ll offer upfree food, drink, chips, and even accommodation. We’re not saying you need to offer these things, but it’s important to understand the importance of attracting repeat business. The customer has found you, now you want to give them reasons to keep coming back, whether that’s through rewards, discounts, or loyalty programs.

Make things easy for your customer

You’ll find that real-life and online casinos are both very intuitive, making it easy as pie for people to continue playing. You should look to make things as easy as possible for your customer, even if you only offer limited options. No matter what you’re selling, make sure the process of obtaining it is as straightforward as possible.

The customer should feel like they’re winning

Next time you’re in a casino, stop and listen to the noise around you – can’t you just hear people having fun, and most importantly, winning? The same goes for online casinos where you see league tables of others reaping cash prizes. You can apply this to your business by always making sure that you give off a positive impression, even if something should go wrong, and don’t be afraid to offer up small tokens to soften the blow when something does go off track.

Cut down waiting times

It’s happened to us all – we’re in the casino, or playing some online poker and before we know it, we’ve completely lost track of time. In most casinos it can be hard to determine whether it’s day or night, especially as drinks, food and so on, all seem to appear in your hand almost immediately. Service is fast, which means you never get impatient. Human beings by nature hate waiting, so where possible hone your customer journey to reduce wait times.

Appearance is everything

Casinos are flashy, colourful, and fun, and people undeniably react to things when they like the look of them. It piques their interest, and then once they’re there, that’s when they can be sold a product or service. You may think that the appearance of your website, or your business cards doesn’t matter but it is vital. You have one chance to give off a first impression – always use it wisely.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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