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I’ve put together a new video of the footage from around the Vegas strip. In this video I take you for a walk down the main casino and hotel strip, showing all kinds of crazy sites and sounds.
The strip is obviously a very commercial area, probably one of the most commercial places in the entire USA.
Spending time in Vegas is like entering a different world, with airplanes flying low to land in the airport which was in the backyard of my hotel the MGM Grand (almost!). The lights and sounds and visual stimulation makes the place feel very surreal, like you have entered into a movie that features an entirely new theme every 100 meters or so.
There a few interesting observations to make when it came to marketing techniques that I took away and can relate to you now. Obviously a place as commercial as this has to be able to market themselves. Here’s some thoughts –
As soon as you start spending money on shows or gambling or drinking, that’s when the cost tends to rise up. This is of course a deliberate technique – make the accommodation cheap to get people there and then trust that the will spend up big. There’s no many products that offer as good a profit margin as gambling, so the hotels are quite happy to let people stay cheap.
This is a classic technique that creates excitement and most importantly – hope. The whole idea of gambling is to purchase just a little potential for winning big with every bet. It’s this hope that creates the excitement that keeps people gambling away more money, despite fully understanding how bad the odds are in most situations.
In my next post I’ll have the video up from the Jeff Walker Mastermind, including some short interviews with the experts attending. The networking was by far the highlight for me and I think you will enjoy my behind the scenes take of such a high-level meeting of marketing minds.