Download Turnover Among Marketing Executives

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Turnover Among Marketing Executives
By Dennis Conrad
I have never seen any statistics on turnover rates for executives in the gaming industry.
There probably are some executive search firms that specialize in the casino biz that
could shed light on this matter and how it compares to other industries. But based on
the casino company contact database that my company updates every few months, I do
believe that turnover among senior marketing executives in the gaming industry is
inordinately high. Heck, some of my best marketing friends and associates in gaming
change jobs and companies every couple of years or so.
Some might argue this high marketing turnover rate is a good thing, you know, to keep
marketing fresh with new ideas from new people. But I’m not buying it. Except for
situations where an unskilled or ineffective casino marketing executive really needs to
move on, I believe that high marketing turnover causes mostly increased organizational
costs and decreased organizational efficiency.
If I am right about this (no matter what the variety of reasons behind it are), then I think
it would be a worthwhile discussion to have on what could be done to minimize the early
departure of otherwise talented senior casino marketing executives, whether it happens
as a firing, or as a quitting in frustration, or for a marginally better marketing job.
So from this consultant’s chair, here are some thoughts on how to reduce turnover in
the executive marketing ranks of the gaming industry:
1. When Hiring a Senior Casino Marketing Executive, Clearly Articulate What
Skills and Experience You are Looking For – the best way to reduce executive
turnover is to hire better in the first place. And from my experience, casino
organizations don’t always make it abundantly clear exactly what they want. Is
experience in Player Development essential? Is it expected that the Senior
“Marketing Exec To-Be” have numerous skills in database advertising, social
media, casino promotions, research and the like, or does your casino really think
a couple of these skill sets are the most important for your competitive
circumstances? And are you interested in quality candidates from other
industries, or is gaming marketing experience the only thing you are looking for? I
have seen a number of really smart, eager, non-gaming marketers struggle (and
soon leave) because the Head Honcho never really fully believed such a
“newbie” could ever understand the gaming biz.
2. Have Clear and Measurable Goals for Senior Marketing Leaders and Don’t
Micromanage – this sounds pretty elementary, but I have seen many situations
where an organization didn’t clearly articulate what success would look like for a
Marketing Leader, or changed those goals over time based on the perception of
those with the “biggest sticks” or just had the CFO hand the Marketing Leader a
budget they were expected to follow religiously, with no opportunity for input or
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flexibility. Sure-fired ways to get Marketing Execs walking out the door
prematurely.
3. Have a Process to Get All Senior Executives on The Same Page About
What Is Effective Casino Marketing – I have seen this a lot. The GM believes
in heavy-duty brand advertising. The next GM believes in aggressive database
marketing. The Slot VP believes in showering slot players with Free Play
coupons. The HR VP believes in great customer service as the best marketing
tactic. The Tribal Council Members want to see high-profile, catchy billboards.
The (young) Corporate Marketing VP wants to jump on social media tactics
NOW. You think a senior property marketing leader doesn’t get whip-sawed by
all these various preferences and beliefs? It would be money well spent to get an
entire Executive Team in a room together and agree on a Strategic Marketing
Plan, in which all had input, a consensus was reached, and everyone left the
process arm in arm, walking to the same drummer.
4. For Casino Companies New To Gaming, Get Some Solid Training For All of
Your Marketing Leadership – marketing (or casino operations for that matter) is
not rocket science and does revolve around some basic marketing principles and
best practices. And there are several places where your marketing team, whether
experienced or not, can learn them or enhance them. Pay attention to this
professional development and I’ll bet your good marketing execs will get better,
and probably stay longer.
5. Make Marketers and Regulators Be Best Friends – we all know casinos are
highly regulated, that’s probably a good thing. But the tension that usually exists
between Regulators and Marketers is not productive. Regulators say Marketers
are “inattentive, negligent about deadlines, and always coming up with crazy
ideas that make our jobs challenging.” Marketers say Regulators are not flexible,
they’re heavy-handed, and they never look at the guest experience. But of
course, they need each other, so get them together having coffee or eating in the
EDR. You’ll help lessen some of the frustration that makes Marketers exit or
Regulators stiffen their necks.
If you want to lessen turnover in the Marketing arena, pay attention to what is making
these leaders jump or get pushed. And you might try asking them a simple question,
“What do you need to do your job better or help our property be more successful?” They
may just stick around to show you.
------------------------------------------------------------Dennis Conrad is the President and Chief Strategist of Raving Consulting Company, a full
service marketing company specializing in assisting gaming organizations. He can be reached
at 775-329-7864 or e-mail [email protected]. Visit Raving’s website at
www.ravingconsulting.com.
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