Throughout MMC®’s site you will hear the term “lost leader” used as a golf marketing strategy. The more familiar (conventional) golf marketing term for this concept is often confused with “loss leader” (something sold at a loss in order to draw golfers); but since you don’t always have to suffer a loss when coming up with an effective golf marketing campaign (if you’re a forward thinker); I have coined another concept that I choose to call the “Lost Leader”. “Loss” infers “no longer having something, e.g., sold at a loss” (perceived on the surface to be negative); whereas, “lost” infers “wasted or not taken advantage of” and finding lost money or a profit center that has been underperforming and turning into a revenue producing entity, now becomes “found money” evoking positive feelings.
I want you to look for the areas of your golf course that have been “wasted and not taken advantage of” as opposed to feeling you must always suffer a “loss” in order to draw in new golfers. It is not my goal to have you sell anything “at a loss”, nor do I want you to conceptualize this golf marketing concept as having to “lose” something to gain something, i.e., a trade. This is a golf marketing concept of finding possible resources that may have been “wasted or not taken advantage of” and maximize their potential. You will “lose” nothing and you will gain new golfers; hence, the term, “Lost Leader” golf marketing.
Let’s use baseball as an analogy to describe how a “loss leader” golf course marketing campaign might be effective. Sometimes in baseball, you have a couple of runners on base and you want to advance them into a scoring position so you decide to tell your batter to hit a sacrifice bunt so they will throw him out at first (although he could still possibly make it safe to first base), advancing other runners around the bases in hopes that you will have a better chance of scoring runs by making this sacrifice. Golf properties do this all of the time when they give out a free bucket of balls or a free lunch to anyone who brings in a guest. They take a hit (loss) on the smaller of the two golf products or golf services to make a bigger return on the greater of the two, balancing out their profit margin on both.
I personally prefer “lost leader” golf course marketing because it is based on finding something within your golf course that may have been overlooked or is under producing and making it profitable and/or as a springboard for another golf product or golf service that can be even more profitable. Golf properties can view their early bird and twilight tee times as “lost leaders”.
Your golf property is full of Loss Leaders and Lost Leaders so start looking for them and then capitalize on their possibilities.
Lost leader golf products and golf services are perfect tools for attracting new golfers, so incorporate these new tools into 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.