“Loss leader” golf marketing not to be confused with “lost leader” (a phrase that I have coined), is a golf marketing concept that promotes golf products or golf services at either cost or below cost of how much it cost to purchase or produce those golf products and/or golf services, hence, selling them at a loss.
Loss leader golf marketing has a place in the golf business but must be designed with the desired outcome as the driving force.
One of the ways you can do this is to sell (or even give away) golf products, e.g., golf balls at cost or below cost to increase traffic in the pro-shop; this is a golf marketing technique some of the large discount golf stores use to increase traffic for their stores as well. This can be costly, but through this concept you can attract golfers and draw them into the golf course in hopes that they impulsively purchase other products.
Another often used golf marketing strategy is to give away a free lunch to each guest (which can be controlled in-house as to what is served); again with the hopes that the golfer then starts to eat in the restaurant on a regular basis. You can apply this golf marketing concept to clothing or shoes or anything else you can afford to sell at cost to draw in golfers to your golf course.
When I say give away, I mean “give away”; which is the true meaning of loss leader in my book. If you sell golf products and/or golf services at cost your only loss is the profit margin which would, in essence, make them a loss leader. The whole idea of a loss leader is to attract and drive in new business that will spend in other areas to make up for your losses and even bring you a modest return.
Loss leader golf marketing is kind of like a “sacrifice fly ball”. A batter sacrifices a hit to bring a runner home, i.e., you give up a hit but might win the game.
This is a golf marketing concept that I put a twist on and came up with the term “lost leader” because I don’t really like the idea of feeling a golf course needs to suffer a loss to get golfers in the door. I think it’s much easier to put a twist on golf marketing to get people in the door and still be able to get the rack rate for the golf membership and/or rounds. But sometimes, using the loss leader is a good golf marketing concept for certain golf marketing strategies.
Loss leader golf marketing is not something you can do on a mass scale because the revenue loss would just be too great. But it is something that you can do on a smaller scale, so you might want to think about using this golf marketing concept of the “loss leader” whenever you need just a few new golfers.
Add loss leader golf marketing campaigns to your golf marketing quiver and you will grow your golf course, the game and your golf career.
For more free tips on growing the game, increasing rounds through golf course marketing, golf marketing, golf course promotions, golf promotions, professional golf membership sales and advancing your golf career visit us today @ www.golfmarketingmmc.com or call 904-217-3762.