Market research is a very important component of a golf marketing strategy and it is an enormous advantage to have over your competitors. Gathering important information about your target market and using it more effectively ensures business growth and prevents wasteful spending.
I can never say enough about market research; it is an essential tool that every golf facility needs to be conducting. Market research requires being consistent; it is not something you can gather once then put it on the back shelf. Things change within your target market every year. The golfers within your demographics are aging, players’ income is going to fluctuate every year within your market as the economy fluctuates, the buying and spending habits of the golfers will change, your competitors will be more aggressive in capturing golfers, etc. All of these entities are always going to change; everything is evolving whether it’s going forward or backward.
You have to stay on top of your market research; you have to be looking at your competitors from time to time. You can facilitate what we call “shopping your competition” at least once a year to find out what your competitors are doing differently than what you are doing, what they are doing better than what you are doing, and what they are doing that are less effective than what you are doing, etc.
You want to find out what is the economic situation of your immediate market. It is imperative that you study your demographics so you can identify your golfers’ needs and make sure your golf product will satisfy those needs. This is what we do at MMC®, when we launch a gofer acquisition golf marketing campaign for a golf course; we always do an in-depth competitive overview and an in-depth market research of their entire marketable area. This way, we are up-to-date and have the most current data so when we launch our golfer acquisition no-risk, self-funding golf marketing campaign for the golf course, we are able to eliminate wasteful spending and maximize our return on investment.
Incorporate market research into your golf marketing strategy 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 campaigns, golf campaigns, professional golf membership sales and advancing your golf career visit us today @ www.golfmarketingmmc.com or call 904-217-3762.