Industry analysts estimate that it costs almost five times more to acquire new players than to maintain your current loyal players.

While casinos may feel they are already sufficiently catering to their most loyal players, the importance of being on-trend and taking new approaches to your player loyalty program cannot be understated and is imperative to the future of your business. Keeping these customers loyal to your brand has a direct impact on your ROI. This makes a strong case for a casino to put energy into improving the morale of those clients and in turn keep revenue trending up.

One area to focus on first is perceived value. High perceived value of a gift is extremely important to players; especially to the VIPs that are already spending a great amount of time and money in your casino. VIP players are continually looking for the latest and greatest collection of brands and products that encompass technology, jewelry, handbags and cookware. These players recognize name brands and associate them with high quality, which in turn creates a perception of high quality for your brand. Rewarding players with an aspirational brand item quickly increases a gift’s perceived value. There is still value in recognizing top performers with, what some may feel, are “lower-end” items such as a pen or leather-bound notebook. However, it’s essential to determine what items are most appropriate for the players and at what time.

More so, traditional methods of promotional gifting are also growing extremely unfavorable, as casinos around the country are creating unique events they hope will create a lasting impression on their respective group of VIP players. The most important consideration for anyone creating a VIP experience is determining the behavior you want to reward to attract the target VIP audience. Remember, you are rewarding their value and time. As a result, you’d like these players to be “wowed” by an event whenever possible. The easiest way to keep someone coming back for more is repeatedly and creatively finding new ways with which to engage them.

As some of the most important customers, VIPs need to feel acknowledged and recognized for their efforts. The tangible treats can often times be the most rewarding. Create a welcoming area right in the middle of the action that’s gated off by a velvet rope. Any effort that makes these players feel coveted or valued is going to produce results for your property while simultaneously catching the eye and commanding the attention of everyone else in attendance. This type of designation showcases the VIP benefits to other players and often prompts them to reignite their spending potential in order to reach that level. It goes without saying that this type of incentive benefits both the player and the property.

While they can become daunting at times, the proper implementation of an event will make all the difference when engaging with VIP players. Create surprise with a new experience they weren’t anticipating. In addition to innovative and desirable brand name merchandise, players will most often find favor with an event that lands firmly within their sweet spot, whether that may be by modeling a popular television game show or incorporating a favorite hobby into a fun new activity. Be creative, but more importantly make sure your VIPs walk away thinking, “Wow, that was different.” Nothing stands out more than ensuring the event will not only appeal to the particular audience, but leaves them breathlessly anticipating the next event, whenever that may be.

Keep events in-house to drive traffic and increased spend to your casino. VIP players are more likely to attend an event if it’s in a familiar setting, a place where they feel valued and comfortable. The best tool for getting your VIPs to continue to engage in your brand is to remove the obstacles not related to having fun. Decrease wait times and be punctual.

Finally, adding some interactive mechanisms through their favorite social media channels such as Instagram, Facebook or Twitter allows VIP players to take their experience to a whole new level. What player wouldn’t want to share an elite event experience with their network?

The old business adage claims that “the customer is always right.” For properties that have a proven ability of delivering unique, one-of-a-kind VIP events, they’ll soon find that engaged and motivated customers will know you’re doing something right.