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Harrah's Business Plan Essay

1039 words - 4 pages

Through exceptional data asset leveraging in the service sector and aggressive acquisitions of their competition Harrah's Entertainment, Inc has made itself the world's largest provider of branded casino entertainment. Harrah’s CEO Gary Loveman is a former operations professor who has used information technology to create what people consider the most effective marketing organization in the service industry. Harrah’s operates fifty-three casinos, employing more that eighty five thousand workers on five continents. The secret to Harrah’s success is data. Through Harrah’s total reward card program the firm is able to collect information on almost every interaction made at their properties. Even though the program is optional, members enjoy additional benefits that non-members do not receive. This provides an incentive for casino patrons to join and receive the same white glove treatment as Gold, Diamond, and Platinum rewards members reducing the chances they may choose another destination for their gaming and entertainment needs. It also provides the firm with enough information to create a high quality and personalized experience that keeps customers coming back (Gallaugher, 2010).
Harrah’s ability to gather, extract, and turn information into real profits is unparalleled however, it is important for the company to continue to be innovative in its collection of data and use of modern technology (Gallaugher, 2010). My recommendation for how Harrah’s can continue to use information technology to improve revenue and profitability for the corporation over the next five years is twofold. First, the firm should continue to invest in technology. Technology has revolutionized the way we live, communicate, and complete everyday task. Harrah’s use of technology has helped the company see a 72 percent increase in the number of customers who play at more than one of its properties and a 62 percent internal rate of return on the information technology investments the firm has already made (Watson & Volonino, 2007). History has shown that technology has been a lucrative investment for Harrah’s, and is definitely an avenue we should continue to pursue. Second Harrah’s should make their services more accessible. Great customer service is making clients feel as though the company cares about how they feel, but also providing the added convenience that makes the overall experience easier and therefore more enjoyable.
According to the International Telecommunication Union, the number of cell phone users reached 4.6 billion at the end of 2009, and was projected to hit 5 billion users sometime in 2010. Just about, everyone in the world owns a cell phone so developing a mobile strategy would be advantageous for the business. Harrah’s present strategy is to use the firms CRM to monitor customer behavior, and follow up with clients by sending a letter or having a representative make a phone call. Letters take time to travel through the mail, and phone contact can be...

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