From Green to Gold: Why Businesses Should Bet Big on Women’s Golf
The rise of women’s golf has been remarkable, fueled by recent advancements and increased visibility that have propelled the sport to new heights. In the past decade, women’s golf has experienced significant growth and increasing popularity. Major tournaments, including the LPGA Tour and major championships, have captivated audiences worldwide. According to the LPGA, in 2022, cable telecasts of tour events that started between 7–8 p.m. ET saw a viewership boost of about 12% over the full-season cable average. (In 2022, LPGA viewership across both network and cable increased from pre-pandemic numbers — up 10% on cable and 17% on network television over 2019).
This aligns with the broader trend in women’s sports, as revealed by the Nielsen Sports report titled ‘The Rise of Women’s Sports.’ The survey conducted across eight key markets found that 84% of sports fans expressed interest in women’s sports, with a gender-balanced audience engagement of 51% male. Furthermore, 45% of the general population across these markets indicated they would consider attending live women’s sporting events, while 46% expressed a desire to watch more if women’s sports were accessible on free TV. The research also highlighted the potential for growth by engaging those who currently have no interest in women’s sports, as 38% of respondents who fell into this category said they could be interested upon exposure. Brands interested in associating with women’s sports should take note, as three-quarters of those interested in women’s sports can name at least one brand involved, and 63% of people believe that brands should invest in both women’s and men’s sports, indicating the potential commercial growth in women’s golf and women’s sports as a whole.
Moreover, the participation of women in golf has seen a significant upswing at all levels. According to the National Golf Foundation:
- There are about 6.4 million female golfers, up from 5.6 million in 2019.
- The net gain of 800,000+ is far more than on the men’s side.
- The female golfer pool jumped 15% compared to a 2% lift among male golfers.
This increase in participation indicates the growing appeal and accessibility of women’s golf.
Expanding Market Potential:
Statistics and data support the immense market potential of women’s golf. The purchasing power and consumer influence of young women are driving significant growth in women’s sports. A study conducted by Forbes revealed that 84% of young women consider themselves sports fans, with 63% actively following women’s sports. This avid fan base presents a prime opportunity for businesses to engage with a highly receptive and influential demographic.
Young generations of women hold significant buying power and exhibit distinct buying preferences, making it a savvy business move to align with women’s golf organizations. Studies highlight that young women are an influential consumer segment, shaping market trends and brand perceptions. When it comes to purchasing decisions, they prioritize authenticity, social responsibility, and inclusivity. By investing in women’s golf, businesses can tap into this influential demographic, establishing genuine connections and fostering brand loyalty. Supporting women’s golf resonates with young women, who value companies that champion gender equality, diversity, and empowerment. Associating with women’s golf not only offers exposure to a dedicated and engaged fan base but also strengthens the brand’s image as a forward-thinking and inclusive entity. It presents a unique opportunity for businesses to forge lasting connections with young women consumers and position themselves as industry leaders in catering to their preferences and values within the context of women’s golf.
Additionally, demographic trends underline the global appeal of women’s golf. The R&A reports that female golf participation has risen steadily in various regions, including Asia, Europe, and North America. The growing interest from diverse demographics offers businesses a chance to tap into new markets and expand their brand reach.
Corporate Sponsorship and Branding Opportunities:
Sponsoring women’s golf events and players can bring substantial benefits to businesses. By aligning their brand with women’s golf, companies can enhance their reputation and build positive brand equity. According to new research report from the Women’s Sport Trust has shown the positive outcomes that can be achieved by brands sponsoring women’s sport. It found the Public is 16% more likely to purchase from companies partnering with female sport, compared to 13% involved with men’s sport. And 29% think more favourably of brands that support women’s sport through sponsorship, compared to 17% that support men’s sport.
Several successful corporate partnerships exemplify the potential rewards of investing in women’s golf. For instance, the partnership between KPMG and the KPMG Women’s PGA Championship has generated brand exposure and positive sentiment for the company. By associating their brand with women’s golf, businesses can gain visibility and create lasting connections with consumers.
“Women’s golf is at the cusp of a transformative era, and I firmly believe that what we are witnessing now is just the beginning. The opportunity for growth and advancement in women’s golf is immense, and we are dedicated to harnessing its full potential. I am inspired by the talent, passion, and drive of female golfers. Our organization is committed to providing them with a platform to showcase their skills and elevate the sport to new heights. The demand for women’s golf is on the rise, and we are poised to seize this incredible opportunity, embracing the diversity, inclusivity, and excellence that women’s golf represents. Together, we can shape a future where women’s golf thrives and captivates audiences worldwide.” Stuart McKinnon, CEO & President, NXXT Golf
Media Coverage and Exposure:
Women’s golf has witnessed a significant increase in media coverage, bolstering its exposure to wider audiences. Traditional media outlets, as well as digital platforms and social media, have played a pivotal role in promoting women’s golf. The growth of social media platforms, such as Instagram and Twitter, has provided a direct means for fans, athletes, and businesses to engage and share content related to women’s golf.
This heightened media coverage offers businesses an opportunity to enhance their visibility and reach a broader customer base. Companies can leverage the captivating stories and achievements of women golfers to drive audience engagement and generate positive brand associations.
Diversity and Inclusivity:
Women’s golf has become a catalyst for promoting diversity and inclusivity within the sport and beyond. Initiatives have been undertaken to increase access and opportunities for underrepresented groups, including women of different ethnicities, socio-economic backgrounds, and physical abilities. By supporting women’s golf, businesses can contribute to these initiatives and showcase their commitment to diversity and inclusivity.
Moreover, supporting women’s golf has a positive social impact. It helps break down barriers and challenges gender stereotypes in sports. Businesses that invest in women’s golf demonstrate their dedication to equality and empower women to pursue their passion and achieve their full potential.
The growth, popularity, and market potential of women’s golf make it an attractive investment opportunity for businesses. From the rise of women’s golf and its success in tournaments to the expanding market potential and corporate branding opportunities, the case for businesses to bet big on women’s golf is compelling. The increased media coverage, role models, and the positive social impact further strengthen this case.
Investing in women’s golf not only yields immediate benefits in terms of brand exposure and consumer engagement but also aligns businesses with progressive values and supports diversity and inclusivity. By embracing the potential benefits and opportunities presented by women’s golf, businesses can not only capitalize on a growing market but also contribute to a more inclusive and equitable sporting landscape. It’s time for businesses to recognize the goldmine on the green and seize the remarkable potential of women’s golf.
We are NXXT.
Audrey Nesbitt, COO, NXXT Golf
Original article posted here: https://www.linkedin.com/pulse/from-green-gold-why-businesses-should-bet-big-womens-golf-nesbitt
