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If we don't digitize and systematize the data, we won't be able to manage it

Enough with the simple calculation of 'number of golfers X average spending'

The most important aspect of a golf course's (business) plan is undoubtedly revenue. However, many golf courses tend to oversimplify the revenue formula by thinking of it as 'number of golfers X average spending'.

Revenue inventory can be divided into quantitative and qualitative aspects. By deriving data-based quantitative revenue improvement factors, we can identify fundamental issues of the golf course through data analysis, making it easier to establish improvement measures and operational concepts.

For example, analyzing inefficient factors hindering revenue acquisition, identifying reasons for customer attrition, and examining factors that hinder reservation conversion rates through data analysis.

Based on this, we can plan products and promotions for qualitative revenue inventory. This includes launching seasonal promotions and monthly strategic products. Moreover, we can consider volume-based sales methods for specific target customer groups and tee times.

By operating a golf course based on data and analysis, we can create more accurate operational concepts and models, enabling the development of effective execution strategies.

'Customer Acquisition X Conversion Rate X Sales Revenue'

Occasionally, we can find ways to increase the efficiency of golf course operations through other industries, such as our golf industry. The universal revenue process in the online e-commerce world, which is completely different from offline golf courses, can be defined as 'Customer Acquisition × Conversion Rate × Sales Revenue' for the respective site.

E-commerce relies on sophisticated data analysis and strategies to increase site traffic, convert visitors into customers, and continuously execute various marketing and strategies to increase average transaction value.

Applying this e-commerce revenue process as a formula for expanding golf course revenue and analyzing revenue inventory factors for each category can be greatly beneficial.

To attract potential customers to golf courses, it is essential to first conduct data analysis and understanding of the current status of each golf course.

Rather than focusing on what is going well, it's crucial to analyze the issues, and all issues should be systematized to be analyzed with data and figures.

Data Analysis and Understanding

Especially, golf course websites are developed to allow customer analysis at each screen stage. With data analysis, simply managing churn customers can increase revenue.

For example, if the potential number of golf course website members, including potential customers, is 20,000 and the reservation conversion rate is 10%, resulting in 2,000 reservations, assuming an average of 3.8 people per team, you can secure 7,600 visitors per month.

Therefore, a pragmatic analysis of how to attract more potential customers and plans to convert more of those attracted potential customers into actual reservations must be in place.

Based on the analysis of golf course operations, various customer acquisition strategies can be devised, such as offering attractive products like customer service and course conditions, expanding partnership beyond existing customer data and booking apps, increasing golf course website visitors, and increasing brand awareness.

To increase the reservation conversion rate, opening tee times for the whole year instead of just one month and strengthening product competitiveness through various promotions tailored to monthly and target customer goals can be effective strategies.

Differentiation strategies to increase purchase amounts and average transaction values, as well as marketing to increase rounds and turnover rates, can also be systematized. In fact, all these data analysis and marketing executions for increasing golf course revenue are part of the functionality of the GDS, and this is why TigerGDS is already being used in over 1,200 golf courses in 21 countries.

Sources : Golf Industry Newspaper (www.golfin.co.kr)

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