I have frequent discussions about what I do with many people and sometime during this talk I will be asked..
Where is the money in golf?
My short answer is..”In the Pockets of the golfers of the world.”
Surely, the golf consumer and golfer who plays golf is the mainstay of the golf economy. Without them all of the rest of the golf industry dries up and blows away. So with that said, the questions is..
What does golf need to do to keep the golfers spending?
The answer to this question would seem to be easy, but overall it is a hard question to answer. The short answer here is to keep golfers spending the golf industries need to make them happy. So lets take a look at what makes golfers happy?
Today, it does not matter how well healed a golfer is financially. If they feel they are being gauged or taken advantage of they will not spend. 86% of the golfers I have talked to over the past four years quickly remark they will not pay higher green fees for a golf courses that is pricing their golf based on how popular or in demand they want the golf consumer to believe their facility is in the market. Golfers today are now much more savvy and know that they have more of a choice than every before.
Golf facilities..golf clubs, country clubs, golf courses or driving ranges..need to make sure before a golfer leaves their facility they are happy and if not, they are made happy in some way. A facility manager needs to take the feedback, good or bad, and take action. the worst thing to do is to write off anything as the price of doing business. Having a disposable consumer base built into your business plan has never worked and will not work. So make sure everyone who is a member of the golf club, who plays the golf course or visit the golf facility is absolutely happy. You will not get another chance.
Along with the value golfers are demanding quality of the golf experience. To get golfers to let loose of the purse strings the golf facility has to offer quality..quality service, quality club amenities and quality experience. How is quality determined?
Over 90% of of the golfers reviewed said Word Of Mouth reviews from friends and sometimes even strangers was the advice they first looked for and took when looking to play a golf facility they have not played before. This determines the quality of the golf. Just a whimper of dissatisfaction from anyone and they are off to the next course. Golfers are not going to let go of the money to take a chance on a golf experience that does not sound good.
The golf facilities need to make sure that the entire experience is based on quality and not hype. Hype in golf is over..value and quality is a must.
Value and Quality are on the top of the list of golf consumer’s concerns with golf. This carries on into golf equipment also. A golfer may spend $500 on a driver but not because the TV commercials are cool. They again will look to word of mouth. A guy or gal standing on the driving range hitting the club is their first stop to ask how does it feel. Gone are the days when the golf consumer buys up all the new drivers each year to find the one they like.
So, in reality, where the money in golf is with the golf consumer. Where golf businesses need to spend the money to make the money is creating value by lower the costs to play golf and then improving the quality so the word of mouth improves. Once that is done then where the money is in golf will be flowing throughout the golf industry.
Let me know how I can help.