Hello and welcome to the Revenue Alert newsletter series, presented by Noteefy!
Here we summarize the best ideas, strategies, and insights in the world of golf course operations and revenue management. If you are looking for fresh tactics from some of the industry’s best leaders to grow your course or portfolio’s profitability, this is for you.
Today we cover how operators can use FUTURE tee sheet demand to help better run their course.
Quick background: In today’s rapidly growing golf technology industry, operators have access to more data than ever before about their course’s historical performance.
Dashboards from golf management software providers provide regular visualizations on rounds, revenue, customers and more. All of this information is helpful in understanding the current & historical state of operations.
However- one of the most unique and valuable types of data is real-time information about future golfer demand on a golf course’s tee sheet.
Specifically, future demand provides a “crystal ball” on when golfers want to play (days, times), especially if there is already compaction on the tee sheet during those times.
This “demand crystal ball” can be invaluable for operators to make data driven decisions that not only boost revenue but also enhance the customer experience and operational efficiency.
What is Future Demand Data for Golf Course Tee Times?
Future demand data for golf course tee times refers to capturing and visualizing specific future playing preferences (specific time slots, dates) by customers. As seen in the video, there are over 70 people on standby already to play at this one specific golf course. That means when a cancellation occurs, or the inventory gets released – there are dozens of people ready to get the alert and book direct.
This data can be captured directly on the tee sheet using Noteefy’s automated demand system for courses.
How can operators take action on this information?
1. Dynamic Pricing: Adjusting Fees Based on Future Demand
Dynamic pricing is a powerful tool that allows golf operators to optimize their revenue by adjusting tee time prices based on demand levels.
If the real-time future demand data indicates high demand during peak hours or favorable weather conditions, operators can increase prices accordingly. Conversely, if demand is low, they can offer discounts or special packages to attract more players.
By setting up automated systems that analyze demand trends in real-time, golf courses can ensure that their pricing strategy is always aligned with the market. This approach not only maximizes revenue during high-demand periods but also fills up tee sheets during off-peak hours, making operations more profitable overall.
2. Short-Show and Cancellation Management: Minimizing Revenue Losses with Proper Policy
Cancellations and no-shows can be a major challenge for golf courses, particularly when those cancellations occur within 24-48 hours of the tee time. With real-time future demand data, operators can proactively enforce their cancellation policy because they know that it will drive more cancellations that could have otherwise been filled at peak rate.
If an operator knows that 30 people are on standby Saturday – enforcing the card on a short show or now show is much easier.
Similarly – with an automated waitlist in the platform, such as from Noteefy - courses can alert players on the waitlist when a slot opens up within their playing preferences.
3. Adding Squeeze Times for “Found” Revenue Capturing
With real-time future demand data, golf operators can add tee times onto the tee sheet, even one hour before that tee time, and fill it at peak rate. Of course, pace of play needs to be considered here to ensure that there isn’t golfer frustration on the length of rounds.
This tactic works best when there is a big swing in weather, and a course suddenly becomes more playable. For example - the weather was expected to be raining, and now it is sunny that morning. In that instance - an operator can add in a few more tee times to the tee sheet and “find” hundreds of dollars more in revenue by triggering alerts to go out to interested golfers.
That’s all for today!
Interested in learning more about how you can capture future demand data at your facility? Reply to this email or reach out today: Noteefy.
Thanks again and catch you next time.
Jake Gordon
Co-Founder, CEO
Noteefy