What happens in Vegas, stays in Vegas? Let’s Hope Not!

I just returned from a short trip to Las Vegas.  Sin City.  Entertainment Capital of the World.  Capital of Second Chances.  Marriage Capital of the World.  They say “What happens in Vegas, stays in Vegas”, but for the economy’s sake, let’s hope that’s not true. 

For a late shoulder-season trip, almost off-season, I would describe the environment as very brisk.  Nearly every taxi line, lobby front desk, and the sidewalks of both the strip and downtown were flowing freely with visitors.  Granted I have seen it busier, but it was the 1st week of June and well over 100º by midday.   

Each casino I visited seemed to be brimming with consumers, joyfully throwing money down for a chance to make it grow.  As I watched (and participated) I thought to myself that it seemed a lot less risky than the market right now and was a welcome distraction from a) the situation in the Gulf as I live in SW Florida, and b) the situation in the NBA Finals as I am from NE Ohio – Go Cavs!   The pool scene was no different.  Dozens of cabanas lined the pool decks, fully sold out at more than $300 per day, not counting bottle service, water misters, TVs, or extra chairs.  What? People dropping $1,000 a day at the pool?  What recession?  What oil spill?  It’s Vegas baby! 

We have all heard that “noticeable” economic recovery trails the actual shift in fundamentals by about 6 months.  It appears to be that time in Vegas, and I’d say the rest of us are getting closer to actually seeing consumers freely spending everywhere.  

It is very important that marketers get positioned in the minds of consumers for the recovery.   It is crucial that you continue a dialogue with your customers even when they pull back spending or stretch the time between purchases so that you do not risk losing them to a timely offer from a competitor.  And prospecting in a down market can be very fruitful ground as many companies stop prospecting when the economy is in the tank, leaving the door open for you to be top of mind when the recovery takes shape.

So my advice is to double-down your marketing bets – then watch your business grow.

%d bloggers like this: