Knowing the value of your golfer over the lifetime is extremely important because this information tells you how much the golfer is worth to you. It helps you in all aspects of your golf course marketing efforts especially in budgeting. The value of your golfer will tell you how much you can afford to spend to attract, engage and procure new a golfer. These are very important statistics and tools to measure how much the golfer spends in your golf course throughout his or her relationship with you.
Once you know the value of your golfer, you will know how much you can afford to spend to acquire a new golfer. A lot of golf courses are reluctant to invest into golf course marketing because they are unaware of the true value of each golfer. They know they need new rounds to run the golf course but they don’t realize the impact on how much a single golfer can attribute to the bottom line. This is why MMC® is against programs like discounted tee times and third party vendors, etc., because the golfer is not being engage properly by the golf facility and programs like these will not help you in building a relationship with the golfer.
It is important for you to start thinking about long term revenue as opposed to what you need today. Each golfer has a value and let us use “X” as a value multiplied by how many golfers you can attract through a single golf marketing campaign. This is what we do at MMC®; the “X” amount will determine how much we should spend on each campaign. We are focusing on the bottom line, i.e., how many new golfers will the golf marketing campaign attract, how much immediate and residual revenue is it going to raise, etc. Then we work our way back through the numbers and find out how much money we are going to invest in our golf course marketing campaign to acquire each new golfer for our client. After that, it is just simple arithmetic that makes the call whether it is a good investment or not.
Another important aspect of knowing the value of each golfer is, once you know the dollar value of each golfer you tend to work harder on building the relationships. The reason is because you know that the value of the golfer is not just $40 (or whatever your green fees are) but could end up being $5,000 to $10,000 in future.
Find out the lifetime value of your golfers 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.