I've been organizing our local charity golf tournament for the past three years, and every time I consider adding a hole-in-one prize, I get mixed reactions from sponsors and players. Some say it adds excitement and prestige, while others think it's a waste of budget, especially if no one wins. I’d really love to hear how others have handled this. Does it really draw more attention or engagement, or is it just for show?
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I hear you—this topic comes up all the time with event planners. We’ve actually tried both approaches: one year we had a $10,000 hole-in-one prize (covered by insurance), and the next year we skipped it entirely. What we noticed is that when we included the prize, our signups filled faster and we had more sponsors willing to pitch in, since their logos were on the signage near the prize hole. Even though no one hit the shot, people still talked about it, and we used it for promos on social and email.
If you’re worried about budget, I'd recommend doing a quick revenue scenario analysis. I found this calculator super useful: backofnapkin.co👉 https://backofnapkin.co/business-calculators/hole-in-one-challenge-revenue-and-prize-calculator/ It helps break down the cost vs. potential revenue and makes the whole decision less of a guessing game. You might be surprised how it can pay for itself if structured right. Just be sure the signage is eye-catching and that you highlight the prize during the pre-game announcements. Visibility is everything!