Andy Staples, ASGCA (Staples Golf Design), has some interesting thoughts for the golf industry on “The Experience Economy,” including an insightful video focusing on “The Progression of Economic Value.”
Staples writes:
Have you ever heard of the “Experience Economy”? As of a few months ago, I hadn’t either. Interestingly, I think this concept fits the golf biz perfectly. In summary, it describes the evolving perception of value, and how products and services (like golf courses and master planning) have become commoditized to the point where increasing value is a must for maintaining price points. In other words; our expectations for just about everything is going up, and if your product or service is not meeting increased expectations, you’ll be forced to lower your price. The Experience Economy says creating experiences is the best way to fill this growing value gap, so it’s time for us to consider how we might create better experiences for our customers.
Golf really needs to pay attention to this concept. Golf courses particularly are now in a position to offer unique experiences as their value add. Take recent examples like visiting Sweetens Cove Golf Club in Tennessee, or the Winter Park Golf Course in Florida. You really get that great experience feel, and playing these courses stick with you. I like to think the old school architecture we did at Meadowbrook Country Club and Rockwind leaves you with this impression too. The takeaway should be the days of providing an average golf course experience are all but over. You can click here to watch this video for the full take on the Experience Economy.