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Every year when the NFL season rolls around it is bitter sweet. I absolutely love football, but it sure makes it tough to book golf on Sundays, especially when you are in a NFL city.
It seems every Sunday we are busy until about 9 or 10, after that, ghost town. So how can you capitalize on what demand is there? Dynamic Pricing, that's how! What is that you may ask?
Dynamic pricing has been around for years, used in the hotel, rental car and airline industry. Most recently, many teams in Major League Baseball have adopted the methodology. As usual, the golf industry has been slow to react to the powerful pricing strategy. Every course has day parts, or segments of their day where they see high demand. But instead of taking advantage of those instances they just set their rate and forget it. “It’s almost spring, time to set our rates for the next 9 months”, sound familiar? Well no more, imagine a world where your rates can fluctuate as much demand… up and down. Imagine a team dedicated to evaluating demand every day, multiple times per day, and setting your prices accordingly. Your number one revenue source is greens fees and cart fees, it deserves the proper attention, not just a couple times a year.
We have a dedicated team of professionals working for us on a daily basis, pricing our golf utilizing a powerful new pricing strategy, Dynamic Pricing. When it comes to football Sunday, we are positioned to capitalize on the condensed demand in the morning by charging more than we have ever charged and incentivize consumers with lower prices during the games. DVR’s were invented for a reason, encourage people to use them. One of the most attractive effects of dynamic pricing is the consumer no longer views lower prices as “discounts”, they just got a good price. Think about it, when you book a flight and get a good price, you don’t think of it as a discount, you just scored a good deal.
Often, I hear operators talk about price integrity and it almost makes my ears bleed and I think to myself, I can’t pay my bills with price integrity. I hark back to my economics 101 class in college where we discussed supply and demand. Ultimately, that is what dynamic pricing is. Each tee time on your tee sheet is worth what… What someone is willing to pay for it, no more, no less! Are you positioned to make sure you are meeting demand?
When you have a team focused on selling your golf, not just waiting for golf to sell the sky is the limit.
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