Cash discounts are excellent incentives for advance payment at a rate that is usually lower than the prevailing rate which is normally higher for golfer members who choose to make monthly payments which can also include interest. It also is a reduction in price given to the golfer for prompt payment. For me, cash is king.
In today’s economic climate, cash is king and MMC® specializes in raising cash, monthly receivables, and increasing member retention through our profile targeted golf marketing campaigns.
One of our most impressive campaigns is our cash campaign (https://www.golfmarketingmmc.com/cash-promotion/). MMC® has been raising cash for the sports industry since 1991. MMC® has raised over 50 million dollars in cash for our clients.
Cash discounts are not discounting or giving golf away; it is getting the same amount from the golfer because you minimize your collection and bad debt by accepting cash payments. Here is why I say it is a huge advantage. When you are dealing with billing and collections you will incur a lot of man-hours besides other fixed cost and variable costs associated to the billing process for your golf course.
When you take in consideration all of the dollars, all of the costs associated, billing and collections and you then you choose to give a cash discount for your golf membership, you will always be ahead of the game because not only do you have associated costs to billing and collecting your receivables but you also have a certain percentage of fall out and bad debt.
By offering a cash discount, you not only eliminate these problems but you also eliminate a lot of overhead. Do not confuse cash discounts with discounting. They are not the same.
Cash discounts are incentives to get golfers to pay up-front in full today. There are numerous ways to incorporate cash discounts into your business model and golf marketing. You can give cash discounts for golf memberships, cash discounts for golf lessons, cash discounts for purchases in the pro shop, etc.
“A bird in hand is better than two birds in the bush”, this old wise saying is even more relevant in today’s economic climate.
Incorporate cash discount promotions into your business model and your golf marketing 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.