Golf Business Podcast

Happy Tuesday! Today, we are going to dive into the art of adding Value for your customers. Value is how our customers judge the use of their resources. If you can provide a positive value to their experience, there is a good chance that they will come back. The basic equation for value is: Value= Benefits-Costs Most operators feel the only way to get more value for the customer is to drop the costs and then the value will go up. This is absolutely true. However, it is the most expensive way to add value for the customer. By utilizing VALUE ADD benefits, instead of subtracting from costs, it gives you the ability to increase the customers perceived benefit at an actual cost that is much lower. For example, if you add a $10 basket of range balls benefit for the customer, the actually cost is about $1 for picking and maintenance(but you still charge the full amount for golf). DISCOUNTING deducts fees to lower costs. It does increase value but it lowers your top line revenue in the process. (A $10 disco