Consorteum Holdings Inc. has put together a revolutionary customer retention/loyalty initiative for the international golf industry designed to benefit golf players and golf courses, as well as Consorteum. In addition, the program stimulates associated golf programs, such as junior golf and charity tournaments.
The program, My Golf Rewards, works like this. Program membership cards are distributed to interested golfers via participating golf courses. These cards are set up to record funds, for use at course facilities, and are re-populated with funds on an on-going basis. By allowing members to receive discounts automatically from point-of-sale participants, the golf course no longer has to worry about managing separate discounting programs, and members are continually encouraged to use the card and be more active customers. Each golfer also receives an estimated 1-2 extra rounds of golf per year through membership.
For the golf course, the My Golf Rewards initiative represents a powerful marketing and financial tool to encourage incremental spending and to identify and connect with golfers not previously targeted. Payback for the average participating golf course is estimated to be approximately $80,000-$90,000 in extra annual revenue, based upon only $1 in extra spending per transaction in areas such as green fees, food and beverage, and pro shop purchases.
Although still a fairly new program, it is spreading throughout Canada, where the program started, and North America. In Canada alone, nearly 6 million people currently play golf, spending almost $13 billion per year on golf related products and services. The program derives revenue on every transaction generated at the golf course level, amounting to an estimated $25,000 per course.
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