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Playmeter Articles by Steve McCaul
Making Strategies proven to Increase Revenue
Many variables influence redemption game revenue potential. The following are a few points to pay attention to:
Giving bonus tokens when a customer spends $20 in the bill
changer is an excellent incentive. With the influx of fast-coin games, this $5
to $7 bonus is a tremendous perceived value to the customer. The benefit to you
is that you will see an increase of $20 bills in your changer.
GREATER TICKET AWARDS
Be creative and generous with ticket awards. Doubling ticket payout has a tremendous perceived value to the customer.
Remember, when you increase ticket awards, in order to keep the same profit margins, you must increase your ticket value on each item. Don't get greedy if you increase the ticket value too high, you will lose customers. This won't happen immediately, but it will affect you over time.
Always reinvest in the same quality prize merchandise. Don't be stingy and buy inferior prizes just because the price seems right. Customers will realize this and take their business elsewhere.
Once you have your game selection, prize merchandise is your number one priority. This is what drives game play. Customers want the "biggest bang for their buck!" It will be a win-win situation for all.
You never have enough display area. This summer, several operators have noted a dramatic increase in business since they enlarged their display area of prizes.
Operators must keep in mind that they are not giving up valuable game space in doing this. Prize display is what drives customers to play the ticket games in the first place.
LOCAL CABLE ADVERTISING
If you contact your local cable company, they will come in and shoot a video of your location and put it to music for a very reasonable price. Depending on the deal you make, these ads will appear during children's shows, sport shows, and local programming.
I have had fantastic feedback from operators who have used this medium. Some operators have stated that they are getting telephone calls to book birthday parties immediately after the ads have run.
DISCOUNT GROUP RATES
Discounted group rates increase revenue during off-times (weekdays). You can offer an incentive package, since this is new business that otherwise would not be visiting your site at this time.
You have to be aggressive with your pricing in order to entice them. Discounted pizza (for example, all-you-can-eat for one price), double ticket values, double token days, one discounted price for the day, are all examples of promotions that have worked and have been successful. Get creative. Customers are always looking for a deal.
Mail-order coupon value packs and sales receipt coupons are relatively inexpensive ways to target the public. You can go to your local supermarket and advertise special bonus giveaways on the back of the store's register receipts.
Schools and other non-profit organizations are always looking for ways to raise money. This can be done through your location by offering a percentage of your proceeds on a particular day or night, which will support their group. Your reputation will benefit greatly, and this is revenue you would not have received otherwise.
Offer something unique, such as a group photo, birthday person photo with a mascot, or discount passes for a return visit. Have a raffle with the birthday group, and give away a T-shirt, stuffed animal, more tokens, etc.
By doing this, you get a mailing list of potential future customers and will be able to send out reminders that they can have their birthday parties at your establishment.
Put money back into your business. It can range from new games to a new rug or new furniture, a change to freshen up your game room. Merely moving the same equipment around in the room will give it a new look.
Don't be afraid to part with old equipment (They have done their Job!). There's a place for "oldies but goodies;" however, our business thrives on the impact of new equipment and new game challenges.
Make sure you have quality maintenance personnel. Out-of-order signs are not acceptable. There is a serious need in this industry for good technicians. Having a qualified technician is not a luxury; it's a requirement.
Putting the financial package together to achieve the opening of your facility is one thing, but ongoing service is a very important factor in the overall success of your location. Part of that service involves a maintenance plan. I can't stress this point enough.
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|Global Coin-Op Equipment|
|Amusement Arcade Redemption Game Specialists|
|Contact:  617-688-6889|
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