Revenue Ideas for Your Golf Course: Flash Sales and Product Drops
Are you looking for creative ideas to add a new twist to revenue generation? We’ve seen many of our clients who have long been focused on new golfer acquisition, turn their attention to new and creative revenue ideas since the demand for golf has been so strong. It’s also a great time of the year to execute creative ideas to engage and remind your members and customers that you’re still present as we inch closer and closer to the 2022 golf season. The game of golf requires getting your gear in place, golf fittings and much more. Here are ways to generate revenue this month with Flash sales and Product drops.
What are FLASH SALES & PRODUCT DROPS
Flash sales are held when you want to create a hype around your brand, get new members through the door and want to create brand loyalty for your already existing members. It is a promotion that lasts for a short time and helps create excitement and buzz around your business. Usually these flash sales happen fast, have incredible savings to the member, and last for a shoort period of time.
A product drop is a launching a new product at introductory prices for a very limited time to create a sense of urgency and increase sales and revenue. Both combined can help you increase your revenue.
Benefits of Flash Sales
1-Selling excess inventory
2-Increasing brand awareness
3- New customers
4- Selling out of season products
5- Lift profits
6- Increase brand loyalty
Flash sales seem like a win-win solution for every golf course. Here are a few tips you can make your flash sales a success.
Keep the target audiences very specific
Don’t try to target everyone out there for your flash sale. Not everyone is a golf enthusiast. Target a very specific niche of people. Members/customers who like golf, are in need of new items and are inclined to spend money to upgrade their equipment. Think about your target audiences’ behavior, spending habits, golfing habits and then settle on a niche. For example, if you were looking to blow out your 2021 inventory of FootJoy shoes, you could create a short list of members that purchased FootJoy shoes in the last 18 months and send them a private invitation to a Flash Sale with your best deals to create space for the new 2022 product line.
What do you do for the members/customers that spend the most throughout the year with you? Do you invite them to anything special, or give them advance access to deals before everyone else? If you ran a report that ranked your top 50 members based on retail merchandise sales, would they be a great group to offer new product launches or flash sales? If you create a culture of rewarding your members that commit to your club by supporting the golf shop, these kinds of special invitations will increase brand loyalty and members will make sure to shop from your club all throughout the year to keep themselves on your VIP access list.
Time is of the essence
There is a reason it is called a Flash Sale. You need to make sure that it lasts for a limited time. You might have inventory left, you might have interested people asking about that product, but you need to need to end the sale at the pre-determined date and time. Do not extend the date on public demand because you need to create a culture where there is some inherent “fear of missing out” amongst the membership. The flash sale can also be for only 3, 9, or 24 hours. The people who miss it will eagerly wait for the next one.
You have decided the dates, your website has been updated for the sale, the products are chosen and ready to be marked down but all of this won’t make a difference, unless you get the right kind of crowd in through the door. This is the point where you need to decide if you are rewarding behavior or creating value. Providing access to these flash sales and product drops, if done correctly, can become an area of exclusivity. For example, you might want to increase the number of members that support the golf shop by sending invitations to a Flash Clearance Sale to members that spent $3,000 or more in the golf shop. Invitations based on behavior can help train your members to spend in targeted areas of your business at the club.
You could also create value to members that are less engaged by sending the invitation to flash sales and product drops. For example, you could have a Flash Sale invitation sent to members that have NOT purchased anything from the golf shop in the previous 90 or 180 days as a way to reengage members that haven’t received value from the club in this area. Reengaging these members with this type of value can delay resignations or perhaps be the incentive to get back to the club more frequently.
Partnering with a brand or person
This idea isn’t limited to merchandise alone. Maybe your flash sale is for a bundle of range passes, or a trial membership, or lessons from one of the golf professionals on staff. It could also be brand specific where only members that purchased Titleist ProV1’s are invited to a special Titleist ball fitting.
As you can imagine, once you start the process of creating interesting and time limited experiences for your members and customers, there are a wide variety of products, services, and experiences that can apply and make your membership excited, extremely reactive, and spreading the word about your club.
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About Total e Integrated
Total e Integrated is a leading provider of end-to-end business management solutions for recreation, retail, hospitality and community organizations. For over 20 years Total e Integrated has helped organizations to integrate departments, automate marketing, streamline operations and boost revenues with our innovative solutions and expert consulting services team.