Announcing advance payment (prepaid) tee times, the newest tee time scheduling feature in the TEI
Total e Integrated is excited to announce the latest enhancement to its tee time scheduling software – advance payment tee times. This new feature will allow you to accept credit card payment in advance of a tee time – completely online. It’s more than just advance payment, this new prepaid feature will allow you to offer customers a percentage discount (of your choice) for prepaying. Furthermore, you can decide to offer prepaid only, pay at course only, or both for each specific tee time – it’s completely customizable by you within the settings of your tee time scheduling software. The customization options make it easy for you to build the perfect strategy for your business.
The Benefits of Advance Payment
Utilization
First and foremost, prepaid tee times can have a significantly positive impact on utilization. The customer has paid for the tee time in advance, which means they can’t change their mind at the last minute about showing up (depending on your cancellation policy of course). This is particularly beneficial during prime times such as Saturday morning on your tee sheet. In addition to a reduction in last minute decision changes, advance payment tee times reduces the risk of inclement weather. When surprise bad weather pops-up, there’s no guarantee that pay later customers will return to your course. However, a prepaid customer is more likely to return to the course to redeem their prepaid time, but if they don’t – you already received payment!
Cash Flow
Prepaid tee times also benefits cash flow for your business. You get paid in advance and keep the cash without actually offering the service until the date of redemption. Therefore, during the period of time between purchase and redemption you were not only collecting interest on the money (albeit minimal), but inventory investments and fixed costs are far less risky as the income is now guaranteed.
Other
While prepayment is not identical to gift cards, one could argue that some of the benefits of gift cards are applicable to prepaid tee times – just to a lesser degree. There is potential for prepaid tee times to never actually be redeemed, similar to the over $1 billion in gift cards which go unused each year. Furthermore, a study completed by Moneris in 2013, found that customers often spent 33% more than the face value of a gift card. Similar to a gift card, the sting of the purchase price is either not present (if the prepaid time was a gift) or it’s so far in the past that the possibility the customer will purchase more inventory throughout your operation is increased.
Will There Be An Uproar Among Customers?
The airline industry has been doing pre-payment for years, and customers seem to understand and accept this. Why you might ask? Customers understand that whether or not they purchase a ticket, the flight is going to take off regardless. In the case of your tee sheet, whether the customer books or not, the rounds of golf will continue regardless – especially so on busy periods of your tee sheet. Thus, what the customer is purchasing is the right to that spot on your tee sheet, and in return you will reserve the spot. Furthermore, customers tend to focus on their immediate need – which in the case of high demand tee times is likely to be date and time. Therefore, it’s reasonable for you to request money upfront (particularly on highly sought after tee times), and it’s fair to say that customers will understand and accept it.
When Can I Expect This New Feature?
Expect to see prepaid tee times available through your Total e Integrated tee time scheduling software in time for spring 2018. If you’re interested in being one of the first organizations to try out this new enhancement, please connect with the Total e Integrated team at info@totaleintegrated.com.
About Total e Integrated
Total e Integrated is a leading provider of end-to-end business management solutions for recreation, retail, hospitality and community organizations. For over 15 years Total e Integrated has helped multi-faceted organizations to integrate departments, automate marketing, streamline operations and boost revenues with our innovative solutions and expert consulting services team.
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