Last week I had the opportunity to meet with Tom Williams (Executive Vice President) at Arccos golf in their Stamford headquarters. It was an awesome experience finding out more about the Arccos brand and gain insight into how this highly innovative organization is transforming the way golfers understand their game!
I admire numerous elements of the Arccos strategy but one that I must highlight is their effective use of strategic partnerships to drive membership for their platform. Their ability to forge relationships with golf giants such as TaylorMade, Ping and Cobra that add value to these partners user experience alongside simultaneously tapping into these new consumer markets through offering free trials is an extremely effective method to increase their customer base.
The strategic partnership with a brand such as TaylorMade is a great way for Arccos to increase their brand awareness and exposure, particularly in the world of marketing where the opportunity to advertise your brand to millions of people is hugely advantageous.
If we look at social media exposure alone, Arccos have been able to benefit from TaylorMade’s huge presence on various platforms. Let’s have a look at some of TaylorMade’s numbers vs Arccos in relation to their social media accounts:
As the image above demonstrates, there is a considerable difference between the power of TaylorMade's social platforms and Arccos regarding potential reach.
Another element of this partnership with TaylorMade that I feel is critically important is the potential for Arccos to decrease its cost of acquisition. Leveraging other brands' such as Taylormade's capabilities and resources can allow Arccos to increase membership & interest in their products without the considerable expense associated.
Since 2017, TaylorMade has experienced massive levels of growth worldwide. Last year, it experienced one of its most vital years in history alongside an acquisition, as South Korean Private Equity firm; Centroi Investment Partners purchased the company for an estimated price between $1.5 and $2 billion. The opportunity for a company such as Arccos to leverage the capabilities and resources of a large and growing brand such as TaylorMade will further support their strategy to scale their user base.
TaylorMade has an incredible portfolio of athletes across global tours, including Tiger Woods, Rory McIlroy, and Colin Morikawa; these players' power and influence in driving attention towards businesses are highly valuable. The opportunity to utilize the brand's relationships with tour players will further increase Arccos brand awareness & curiosity.
Through speaking with Tom, I learned very quickly that Arccos are highly efficient in their acquisition of customers, their ability to combine a presence online through retailers such as Amazon alongside the physical side of retail through for example Dicks sporting goods ensures the brand is positioned in a way to engage with various consumer segments.
It's also worth noting another strategic partnership the brand has executed with club building and custom fitting giant, Club Champion. With over 90 locations worldwide and touted as the number one fitting brand, this has further increased Arcoss brand visibility among golfers. The potential to seed the Arccos product into the conversations these businesses have with customers will help Arccos expand its user base. I also love the collaborative marketing campaigns through which Club Champion creates content based on the Arccos product for their loyal customer base. These partnerships are beneficial on and offline!
Strategic partnerships have been an area that I have been focusing on since joining Kevin Sprecher Golf; I felt that strategic partnerships would allow the business to satisfy current customers by providing valuable content while simultaneously introducing new customers to the company. An example of this has been our IGTV series Fitness Friday, through which we partner with a local fitness specialist each week to deliver fitness tips that are tailored to the game of golf. These videos provide value to our current followers (golfers) and allow the business to reach non-followers and individuals interested in golf and fitness.
However, our strategic partnerships with GOLF.COM have been integral in increasing following on various social platforms. It's interesting to step back and see how our strategy for social media growth relates strongly with Arccos and their efforts to increase membership. (Ours is on a much smaller scale, of course)
Through identifying a business that aligns with our consumer base (GOLF.COM) alongside leveraging their massive capabilities (515K Instagram Followers), we were able to achieve a significant increase in Instagram followers and engagement, which through executing an effective marketing strategy over time should create further inquiries for the business.
What are some of the best strategic partnerships you have seen? Feel free to share your thoughts in the comments.