If they could able make people happy with those rewards they offer and frequently add more things that can raise up more their excitement while playing on their casino then for sure that they could get lots of players around. Also its better if they monitor around what's happening on other big casinos so that they would get an idea on other marketing approach they could do so that people would see new more exciting things from them.
You mentioned one big thing: The casino should be aware of what is happening in the industry and what its competitors are doing. This is really important. However, some casinos rely on their marketing manager and do not monitor their work. If they check their competitors regularly, they will understand the standard and be able to offer something better than their competitors.
This can also have negative impacts. Some casinos engage in unethical practices, impose higher wagering requirements, and tighten the rules. If all casinos start doing this, the players will be trapped and forced to leave.