membership marketing are you targeting the right member? 1
TRANSCRIPT
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Membership Marketing
ARE YOU TARGETING THE RIGHT MEMBER?
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3“In 2015, Uber – the world’s largest
taxi company – owns no vehicles; Facebook – the world’s most popular media owner – creates no content;
Alibaba – the most valuable retailer – has no inventory; and AirBnb – the
world’s largest accommodation provider – owns no real estate.”
MARKETS ARE CHANGING RAPIDLY AND DYNAMICALLY…
WHAT DO YOU REALLY KNOW ABOUT YOUR MARKET?
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Putting Market Analysis to Work
“Business only has two functions – marketing and innovation.”
Peter Drucker
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6.5% = Clubs with a Wait List…
Source: Global Golf Advisors, 2015
…or, 93.5% of clubs in North America need to be recruiting new members.
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How are you executing market analysis now?
What are best practices in private club market analysis?
What are the tools you can use to analyze your market?
3 QUESTIONS THAT SHOULD DRIVE YOUR 2016 PLANNING
7How Do You Conduct Market Analysis at Your Club Now?
Club Leader as Source? Throwing Darts?
8OR….
Hiding Behind the Tax Code?
Executing Real Market Analysis?
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Three Current Factors Impacting Private Club Memberships
HOUSING | WOMEN | MARKET CORRECTIONS
10Current Housing Trends in Arizona Source: John H. Burns Real Estate Consulting
11Current Housing Trends in ArizonaSource: John H. Burns Real Estate Consulting
12Women…and Their Growing Influence in Private Club Markets
“91% of home purchase decisions are made by women.”Martha Barletta
13Post-Recessionary Market Corrections
1. Evacuation of Refundable Membership Programs
2. Conversion of Equity Membership Marketing to Recallable, Non-Equity Alternatives Priced at 1/4th to 1/3rd of Equity Joining Fees
3. Migration of Developers to Mandatory Membership Structures
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What are best practices in private club market
analysis?WORK INSIDE OUT | STUDY COMPARABLE
CLUBS | MEASURE TO MARKET
15Bona Fide Market Analysis Includes
Internal and External MarketsDemographics Private Club Experience Household Income (“HHI”) Household Net Worth Educational Attainment Proximity to the Club Personal Network Utilization Habits/Practices
Psychographics “Push” / “Pull” Influences Aspirational Influence Personal Network Club Brand Authority Location Attractiveness
16Internal Market AnalysisMember Distribution by Category
www.espatial.com
17Internal Market AnalysisMember Distribution by Zip Code
www.espatial.com
18Internal Market AnalysisMember Distribution by Category
www.tableau.com
19Internal Market AnalysisAssociates Only
www.tableau.com
20Then Analyze Your External Market (Future Members)
Local Market
Residential Orientation (73%)
25-Minute Drive Time Business Orientation Social Network and
Profile
Source-of-Origin Markets
Midwest (US and Canada)
Northwest US Northeast Corridor
(Increasing)
21External Market Analysis(in seven parts)
1. Local Market Map
2. Demographic Profile Analysis
3. Golf Demand Profile
4. Supply Profile of Similar Clubs
5. Psychographic Profile Analysis
6. Comprehensive Club Analysis
7. Source-of-Origin Analysis
22Local Market Map
Mile Radial: 5 | 10 | 20Drive Time Radial: 15 |
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23Demographic Profile Analysis
24Golf Demand ProfileHow many golfers can you access?
www.ngf.org
25Golf Demand ProfileRelationship Between Income and Golfing Households
26Golf Profile of Similar Clubs
What is the overall number of facilities?
Does demand support supply?
What is the mix of facility types?
What are the comparative amenity profiles?
Who / what are your key competitors?
27Psychographic Analysis
What factors bring members to your club?
What are the common attitudinal characteristics of your members?
What do they want, need and fear?
What other destinations do they seek?
28Psychographic Analysiswww.MOSAICrm.com
Psychographic AnalysisPrimary Target Segment – Power Elite Households
30Comprehensive Club Analysis
Location Amenity Profiles Pricing Analysis (all
categories) Membership Options Number of Members Origin of Members Local Market Perception
31Source-of-Origin Analysis
Where did your existing members originate?
How and why did they choose your club?
Identify and measure primary source markets?
What are the transportation vectors involved?
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“Over 90% of the data in the world today was created in the
past two years”- Harvard Business Review
HOW CURRENT IS YOUR MARKET INFORMATION?
33Where can you search tomorrow for current market information? Mapping – www.batchgeo.com |
www.espatial.com Demographic – www.census.gov |
www.wealthx.com Psychographic – www.Nielsen.com |
www.Experian.com Travel (source-of-origin) – www.str.com |
www.skift.com
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Discussion & Questions
ARE YOU TARGETING THE RIGHT MEMBER?
