Mecca Bingo owners, the Rank Group, have had a tumultuous few months. They’ve recently announced their profits from the last year, which are massively down. As they attempt to turn things around, it seems they have a new strategy in place for the coming year.
A Four Part Plan
The new Rank Group CEO, John O’Reilly, is implementing a four part plan to turn the financial situation around. This will be in an attempt to claw back some of their market share after a less than successful year. He feels like the loss has been self-inflicted and it will be up to the group itself to change the tide.
They feel the change has come as a result of their own failings, rather than an external factor. In a meeting with investors, O’Reilly outlined a new strategy of marketing and new products that could bring life back into the brand. This was clearly in an effort to assuage any fears these investors had about continuing to support the group.
Part of the failings also came from a lack of diligence and planning around new regulations. While this is something that is affecting every site, with a site as big as Mecca Bingo, it’s essential to foresee these changes. With the bonus tax and restrictions on certain games, it seems like these were allowed to seriously impact these sites.
This group has the resources there to be able to anticipate these changes and adapt towards them. This is a task that many smaller sites have to deal with and some have done so in a more effective way than Mecca.
It was also noted by O’Reilly that marketing budgets had been reduced when he believed they should have been increased. Where the brand was beginning to struggle, this could have been a lifeline for new players.
More Modern Strategies
In the coming year, it seems like this group will hone in on more modern strategies to bring in their players. This includes more data driven acquisition methods, which will work in tandem with player information from their clubs. This knowledge is a valuable resource and something that could be put to good use when it comes to bringing these players online.
This could be a hint that Mecca Bingo will be placing less of an emphasis on games in clubs and more on online play. This makes sense as a strategy, as there are fewer overheads and costs to be aware of. This may mean that we see less advertisements for promotions in halls and more geared towards playing online.
The world of bingo is becoming more and more competitive, with plenty smaller brands nipping at the heels of the big dogs. This is a very clear warning for all of these larger brands that if they don’t find ways to stay ahead, they can still fall behind.