Do you know how valuable each of your marketing email addresses is to your annual bottom line?
For years we have been working with golf courses and resort properties to grow their email databases. Through these efforts, and in collaboration with a sampling of properties across the U.S., we have been able to calculate an annual TRUE Value Per Email for each new email that is added to an existing database, assuming that the property is facilitating an active, strategic, and year-round email marketing program.* Most companies are surprised when they learn what the prospective value is for every new (and existing) email they own in their marketing database.
Keep in mind: Not all new emails garnered through marketing outreach efforts carry the same value. Some people who are added just want to win a prize, but others want to stay engaged and learn about promotions, events and other goings-on at your property. The more engaged customers become, the more times they’ll play, and on average, the more money they will spend throughout the year.
We have created the tool below so you can establish two things:
- An estimated calculation of your property’s particular TRUE Value Per Email
- The achievable annual revenue tied to your email database, influenced by the following factors:
- The size of your email database**
- Your golf courses’ average Total Spend Per Round (TSPR): Average Price Per Round + Average Ancillary Spend on Property
- The conversion rate of your email database***
Your Annual TRUE Value Per Email
Estimated Annual Revenue (Based on Course-Driven Email Marketing Efforts)
*Successful annual programs feature a mixture of periodic discount offers; branded content e.g. lessons & golf tips; promotions and events; and PriceLooper Direct email campaigns facilitated by the golf course in partnership with UnderPar.
**When calculating the projected revenue tied to email marketing we are taking into consideration that a large number of your existing customers are already part of your “database.” With that info in mind, We encourage you to evaluate the tangible benefit of adding “new” members to your database (use the slider to adjust the prospective growth of your database). You obviously want to continue to focus concerted efforts on maintaining strong ties to loyal, existing customers (avid drop-ins, annual members, cardholders, etc.). Keep in mind: The projected revenue tied to email marketing does not include monies generated from membership dues, the sales of discount cards and other similar revenue streams.
***Percentage of emails/golfers in a database that qualified as paying customers in a given calendar year. As a standard, based on quantitative research, we set the conversion rate by default at 20% (2 out of every 10 emails = 2 customers). However, some properties we work with obtain conversion rates in excess of 40%. Conversions are not solely tied to online actions; this factor is tied to both online and offline conversions (e.g. call-in bookings).