Consorteum Holdings, Inc., known primarily for its application of card technologies for innovative employee and customer payment solutions, recently announced a joint venture partnership to create a new majority owned subsidiary called My Golf Rewards Inc. The new company will be aimed at the North American golf industry, and will focus on providing much needed loyalty and retention programs for member golf courses.
The plan is to start in Canada, and then expand throughout North America and possibly beyond. The service is designed to benefit golf players as well as golf courses, and will stimulate associated industry programs such as junior golf, first tee, and charity tournaments.
The process works like this:
â€¢ Participating golf courses distribute My Golf Rewards membership cards to interested golfers.
â€¢ The card has funds linked to it which continue to repopulate with ongoing use.
â€¢ The result is that golfers are encouraged to use the card, spend more, and maintain membership.
â€¢ As an added bonus, each participating golfer receives an average of 1-2 extra rounds of golf per year.
The program provides golf courses with a simple to use marketing and financial tool, designed to eliminate discounting, encourage incremental spending in all areas of the golf facility, and market to golfers not previously targeted. The net result for the average participating golf course is expected to be over $80,000 in extra annual revenue.
Canada alone represents nearly 6 million golfers, among the highest golf participation rates in the world, spending nearly $13 billion per calendar year on direct golf-expenditures. However, competition among courses is still high, with no current loyalty programs sufficiently robust to provide a competitive edge. The My Golf Rewards program changes all that, providing participating courses with a truly unique selling proposition, and golfers with a variety of flexible benefits. The deal may be a hole-in-one for Consorteum, but in this round of golf, everybody wins.
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