Trying to Sell the Perfect Putter on a Shoestring
Rife is the founder and president of Orlando-based Guerin Rife Putters. Until recently he designed golf clubs for other companies, such as Spalding. Then, a couple of years ago, the 54-year-old designed what he regards as the perfect putter, an odd-looking gizmo tricked out with enough physics-friendly attributes (please see box) to knock a couple of strokes off any golfer’s scorecard, he claims.“Outstanding launch characteristics and improved end-over-end roll with less skidding,” gushed the May issue of Golf Tips magazine. After raising $1.5 million from angel investors, Rife started making putters last year. Since Guerin Rife putters were introduced on the Champions Tour in May, the putters have consistently claimed the No. 2 spot among all putter brands, behind giant Odyssey and ahead of such brands as Ping, Titleist, and TaylorMade.
But what’s especially remarkable is that Rife is succeeding on a relative shoestring. This year the company will spend $200,000 on a direct-marketing campaign, eschewing such conventional approaches as glossy magazine ads and six-figure endorsement deals. Rife does pay performance bonuses to the golf pros who wield his putters in tournaments.
Meanwhile, he says, he scored $3 million in revenues in 2005 and expects to at least triple sales next year with only a slight boost in his marketing budget. In December, Rife sold $500,000 worth of Two Bars–at $200 apiece–and he doubled that figure in January.
Photo by mathewingram.
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