We know the pressure of trying to increase revenue in ways that are fun for attendees can be challenging. In this article we share our tips on how to increase revenue at your next golf tournament.
Most events offer their attendees the option to purchase additional small or big-ticket items in hopes of bringing in additional revenue. Things like raffle tickets and silent auctions are the most popular means of doing so. However, it is also important that you continue to look for fresh new ways to help increase revenue and improve the overall experience of your attendees.
We’ve put our suggestions for some new and exciting ways of generating extra revenue for your next event. Not only will these event features bring in the money, but they will keep your participants coming back year after year!
New and exciting formats can increase participation and revenue for your event. You need to think outside of the box—consider formats that generate additional money, like a “Golf-A-Thon” or Night Golf.
Check out our blog post for some fresh new golf tournament formats
Games and Contests:
Money games can generate 25% more revenue, and golfers love these types of games because they can win cash and prizes themselves. Some ideas for different money-making games are:
Gambling Hole: Golfers can double their money by hitting into a circle on a par 3.
Pay the Pro: Golfers pay a Pro (or another player) to hit the ball for them.
Putting Contests: A chance to win extra cash motivates everyone to play!
Auctions and Raffles:
These types of tournament features can generate A LOT of money if done right. Here are some ways for you to maximize income on your events big day:
Reach Others: Do not limit auctions to just your golfers. Make them available to your complete database.
Experiential Gifts: Try auctioning off gifts that can’t be bought in stores, like a getaway for two or a wine-tasting trip.
Promote Them In Advance: Put them on the website and let golfers know what is available.
Some of your golfers may reach into their pockets and choose to donate some additional money. Most of these additional contributions will show themselves in the form of golf fees and activities during the big day. Instead, try to offer the option to those who can’t make it to your event. The key here is having a custom WayPoint registration page for users to donate, buy tickets, buy sponsorships, etc.
Selling mulligans for your golf tournament is a great fundraising tool to use at your golf tournament. Coupons for mulligans can be sold, which allows them to retake any shot during the tournament play.
The number one thing that sponsors want is more business, so we need to turn your event into a marketing tool for companies. If a company can reach customers and do more business because of your event, they will give you more money.
Check out our blog post for the best way to attract sponsors for your event
As well as enhancing the participant experience, simplifying the process with WayPoint and applying these simple suggestions can help turn your event from a money-maker to a MONEY-MAKER. Maximize the revenue (and fun!) while minimizing the stress.