Are You Serving the Middle of Your Market?
Casinos have always taken care of their high rollers. They watch them closely, so if they have a bad night on the casino floor they can immediately do something like comp their room or give them free chance to a dream jackpot or tickets to a show. But with technology, the management can no do that for a much larger portion of their customers. Suddenly people who do not spend as much money in the casino are getting the royal treatment. As the CEO of Ceasar’s entertainment said, “You can’t just fail to service the tens of millions of people that constitute the middle of the market.”
And that middle of the market is coming to expect it now. We get customized recommendations and coupons right when we need them. The digital age has leveled the playing field.
So is that true inside your organization? First, have you figured out a way to serve the middle swath or your customers, or are you still disproportionately focused on the high end? And second, what about your employees? Are you focused on the stars? Are they the only ones who get performance reviews that actually focus on growth and development? This is traditionally how it’s been done, but in the next few years this is going to shift radically. The time to learn how to serve the middle is now.