Modernizing Business for Today’s Consumers — Alec Esteban Thomson // Arizona Lottery
Alec Thomson
Arizona Lottery
- Part 1How Arizona Lottery impacts the wider Arizona Community — Alec Esteban Thomson // Arizona Lottery
- Part 2 Modernizing Business for Today’s Consumers — Alec Esteban Thomson // Arizona Lottery
Show Notes
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02:11Modernizing the lottery businessModernizing the lottery means enhancing accessibility and convenience, which adding debit and more convenient ticket purchasing processes and options have done. The loyalty app and other online platforms play a vital role in retaining customer engagement beyond gameplay.
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04:29Innovating in the lottery industry while staying within regulationBalancing innovation with gaming commission regulations and policy direction is a constant challenge. In the regulated gaming industry, staying creative within those boundaries is crucial for engaging players and customers effectively.
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06:20Balancing innovation and core product focusInnovation is vital, but it's crucial not to lose sight of core products, as they often drive the majority of revenue. Essentially, its valuable to innovate within existing products, adapting processes, merchandising, etc, to better optimize them for the customer.
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09:44Leveraging a mix of digital and traditional marketing tacticsArizona Lottery plans to introduce digital display menus in more locations, reducing customer stress during ticket purchases. Additionally, they are exploring explosion-proof signs for gas pumps to provide jackpot updates.
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10:38Optimizing core products to maintain customer loyaltyAssessing your core products, price points, etc, should be an ongoing process to identify opportunities for optimization. Its crucial not to neglect your core products for newer ones as those are the proven revenue generators that maintain loyalty among existing customers.
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13:08Arizona Lotterys continued growth and community impactArizona Lotterys growth is crucial as it directly benefits Arizona communities and removes a burden from taxpayers. Their top priorities are engaging a new generation of Arizona players to diversify their retail base so that they can continue their impact in Arizona.
Quotes
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"Just three years ago, the lottery was a cash-only business. Adding debit is a huge transformation that brings in many more millions of dollars every year." - Alec Esteban Thomson
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"The reality is the gaming industry is highly regulated. So, we have to figure out how to innovate and engage customers in creative ways while remaining compliant." - Alec Esteban Thomson
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"While innovation is essential, its crucial not to lose sight of your core business and product." - Alec Esteban Thomson
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"Outdoor still works. Out of home is absolutely critical." - Alec Esteban Thomson
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"While not as shiny as new products, the core is not a risk. You already know what the core is going to do for you, and optimization should be an ongoing process." - Alec Esteban Thomson
- Part 1How Arizona Lottery impacts the wider Arizona Community — Alec Esteban Thomson // Arizona Lottery
- Part 2 Modernizing Business for Today’s Consumers — Alec Esteban Thomson // Arizona Lottery
Up Next:
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Part 1How Arizona Lottery impacts the wider Arizona Community — Alec Esteban Thomson // Arizona Lottery
Alec Esteban Thomson, Executive Director at Arizona Lottery, talks about Arizona Lottery’s community impact and business modernization. Unlike other lotteries, Arizona Lottery's funds support a range of causes, creating challenges in marketing. Condensing their community impact into a brief pitch is tough, but this challenge provides an opportunity to tailor messages based on individual interests. Today, Alec discusses how the lottery impacts a wider Arizona community.
Play Podcast -
Part 2Modernizing Business for Today’s Consumers — Alec Esteban Thomson // Arizona Lottery
Alec Esteban Thomson, Executive Director at Arizona Lottery, talks about Arizona Lottery’s community impact and business modernization. Although the lottery isn't typically seen as a tech-forward industry, small changes like introducing a debit option three years ago have yielded transformative results. Despite strict regulations, innovative players like Arizona Lottery are finding creative ways to modernize their business through technology. Today, Alec discusses modernizing business for today's consumers.
