According to marketingpower.com, volume projections enable marketers to forecast sales by sampling customer intentions through surveys and market studies. By estimating how many customers will try a new product and how often they will make repeat purchases, marketers can establish the basis for such projections. Projections from customer surveys are especially useful in the early stages of product development and in setting the timing for product launch. Through such projections, customer response can be estimated without the expense of a full product launch. In a survey of nearly 200 senior marketing managers, 56 percent responded that they found volume projections very useful.
Volume projections are extremely valuable and useful as it was said earlier when launching a new product, but volume projections can also be used during the launch of existing products. Some of the data MMC® gathers with our no-risk/self-funding member acquisition programs is data which will enable us to calculate volume projections on golfers we acquire for our clients. A lot of national organizations have similar numbers to ours and it is well-known the casual golfer may golf anywhere between eight and twelve times per year.
By knowing this data, you can take the average dollar amount spent by each casual golfer who joins the golf course and get a projected estimate of what your potential earnings from each individual golfer can be.
All profit centers for example, food and beverage revenue, range revenue, pro shop revenue, lesson revenue, cart revenue, etc., are entered into the equation to come up with a percentage of what each golfer (on average) will spend per visit. Then, you take the number and multiply it by an average of ten visits and you will know the value of each golfer.
Volume projections can give you a great idea of what to expect as your annual income when you have the proper formula for your golfers and your golf course. Incorporate volume projections into your business overview 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.